Categories AlphaGraphs, Earnings, Other Industries

New products drive sales at Abbott in Q1

Healthcare company Abbott Laboratories (ABT) reported worldwide sales of $7.4 billion for the first quarter of 2018, an increase of 16.7% versus the prior-year period, helped by new product launches.

Net earnings on a GAAP basis came in at $418 million or $0.23 per share, down slightly from the prior-year quarter. On an adjusted basis, EPS was $0.59.

Despite beating market expectations for sales and earnings, shares dipped slightly in premarket trade.

Worldwide sales in the Nutrition segment increased 7% while sales in the Diagnostics segment grew 58.7% during Q1 2018. Established Pharmaceuticals sales rose 9.9%, while Medical Devices sales improved 14.6% compared to last year.

The Medical devices segment saw good growth during the quarter, benefiting from the St. Jude Medical acquisition. Abbott’s FreeStyle Libre glucose monitoring system helped boost sales in the Diabetes Care division.

In January, Abbott received FDA approval for magnetic resonance (MR)-conditional labeling for its Quadra AssuraTM and Quadra Assura MPTM cardiac resynchronization therapy defibrillator devices and its Fortify AssuraTM implantable cardioverter defibrillator.

For full-year 2018, Abbott estimates GAAP diluted EPS from continuing operations will be in the range of $1.23 to $1.33. Adjusted diluted EPS from continuing operations is projected to range between $2.80 and $2.90.

For the second quarter of 2018, GAAP diluted EPS from continuing operations is expected to be $0.33 to $0.35. Meanwhile, the company anticipates adjusted diluted EPS from continuing operations of between $0.70 and $0.72 during this period.

Abbott Q1 2018 earnings

 

Most Popular

HOG Earnings: Key quarterly highlights from Harley-Davidson’s Q4 2022 financial results

Harley-Davidson, Inc. (NYSE: HOG) reported fourth quarter 2022 earnings results today. Revenue increased 12% year-over-year to $1.14 billion. Net income attributable to Harley-Davidson, Inc. rose 94% YoY to $42 million,

After positive Q4, Advanced Micro Devices (AMD) looks at a mixed 2023

Advanced Micro Devices, Inc. (NASDAQ: AMD) this week issued a cautious outlook for the first quarter of 2023, after reporting stronger-than-expected fourth-quarter results. The chipmaker did not provide full-year guidance,

META Earnings: All you need to know about Meta Platforms’ Q4 2022 earnings results

Meta Platforms, Inc. (NASDAQ: META) reported fourth quarter 2022 earnings results today. Revenue declined 4% year-over-year to $32.17 billion. Net income fell 55% to $4.6 billion while EPS dropped 52%

Tags

Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top