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Sep 30, 2024
AbbVie Q3 2024 Earnings Report
AbbVie's financial performance for Q3 2024 reflected revenue growth and strategic acquisitions.
Key Takeaways
AbbVie reported a 3.8% increase in net revenues for the third quarter of 2024, reaching $14.460 billion. The company's adjusted diluted EPS was $3.00, a 1.7% increase. AbbVie also raised its full-year adjusted diluted EPS guidance and announced a dividend increase.
AbbVie's third-quarter diluted EPS was $0.88 on a GAAP basis.
Net revenues reached $14.460 billion, a 3.8% increase.
The company successfully completed the acquisition of Cerevel.
AbbVie raised its 2024 adjusted diluted EPS guidance to $10.90 - $10.94.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
AbbVie is raising its adjusted diluted EPS guidance for the full year 2024 from $10.67 - $10.87 to $10.90 - $10.94.
Positive Outlook
- Full-year 2024 adjusted diluted EPS guidance is raised to $10.90 - $10.94.
- The guidance includes an unfavorable impact of $0.64 per share related to acquired IPR&D and milestones expense.
- The company's 2024 adjusted diluted EPS guidance excludes any impact from acquired IPR&D and milestones that may be incurred beyond the third quarter of 2024.
- Potential IPR&D and milestones expense related to the acquisition of Aliada Therapeutics is also excluded from AbbVie’s 2024 adjusted diluted EPS guidance.
- AbbVie is announcing an increase in the company's quarterly cash dividend from $1.55 per share to $1.64 per share.
Challenges Ahead
- The adjusted diluted EPS guidance includes an unfavorable impact of $0.64 per share related to acquired IPR&D and milestones expense incurred year-to-date through the third quarter 2024.
- Any impact from acquired IPR&D and milestones that may be incurred beyond the third quarter of 2024 is excluded from the guidance.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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