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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.
Revenue by Segment
Revenue by Geographic Location
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
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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