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Sep 30, 2023
AbbVie Q3 2023 Earnings Report
AbbVie's Q3 2023 financial results were reported, demonstrating strong performance in the non-Humira growth platform.
Key Takeaways
AbbVie reported Q3 2023 net revenues of $13.927 billion, a decrease of 6.0 percent. The company's adjusted diluted EPS was $2.95. AbbVie raised its full-year 2023 adjusted diluted EPS guidance and its floor EPS outlook for next year and increased its quarterly dividend.
Third-quarter diluted EPS was $1.00 on a GAAP basis, a decrease of 54.8 percent; adjusted diluted EPS was $2.95, a decrease of 19.4 percent.
Net revenues reached $13.927 billion, a decrease of 6.0 percent on a reported basis and 5.8 percent on an operational basis.
Global net revenues from the immunology portfolio were $6.783 billion, a decrease of 11.3 percent.
The company raised its 2023 adjusted diluted EPS guidance range from $10.86 - $11.06 to $11.19 - $11.23.
AbbVie
AbbVie
AbbVie Revenue by Segment
AbbVie Revenue by Geographic Location
Revenue by Segment
Immunology Revenue
CapyFin.comNeuroscience Revenue
CapyFin.comOncology Revenue
CapyFin.comAesthetics Revenue
CapyFin.comEye Care Revenue
CapyFin.comOther Key Products Revenue
CapyFin.comRevenue by Geographic Location
U.S. Revenue
CapyFin.comInternational Revenue
CapyFin.com Forward Guidance
AbbVie is raising its adjusted diluted EPS guidance for the full year 2023 from $10.86 - $11.06 to $11.19 - $11.23, which includes an unfavorable impact of $0.27 per share related to acquired IPR&D and milestones expense incurred year-to-date through the third quarter 2023. AbbVie is raising its adjusted diluted EPS guidance floor for the full year 2024 from $10.70 to $11.00, which excludes any impact from acquired IPR&D and milestones.
Positive Outlook
- Raises 2023 Adjusted Diluted EPS Guidance Range from $10.86 - $11.06 to $11.19 - $11.23
- Raises 2024 Adjusted Diluted EPS Guidance Floor from $10.70 to $11.00
- Announces 2024 Dividend Increase of 4.7 Percent
- Continuing AbbVie’s strong commitment to returning cash to shareholders through a growing dividend.
- AbbVie has increased its quarterly dividend by more than 285 percent since the company's inception in 2013.
Challenges Ahead
- Includes an Unfavorable Impact of $0.27 Per Share Related to Acquired IPR&D and Milestones Expense Incurred Year-To-Date Through the Third Quarter 2023
- Worldwide net revenues were $13.927 billion, a decrease of 6.0 percent on a reported basis
- Global net revenues from the immunology portfolio were $6.783 billion, a decrease of 11.3 percent.
- Global net revenues from the oncology portfolio were $1.512 billion a decrease of 8.4 percent on a reported basis
- Global net revenues from the aesthetics portfolio were $1.239 billion, a decrease of 4.7 percent on a reported basis
Revenue & Expenses
Visualization of income flow from segment revenue to net income