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AbbVie
🇺🇸 NYSE:ABBV
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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.

Total Revenue
$14.5B
Previous year: $13.9B
+3.8%
EPS
$3
Previous year: $2.95
+1.7%
Gross Margin Ratio (GAAP)
70.9%
Previous year: 53.4%
+32.8%
Adjusted Gross Margin Ratio
84.4%
Previous year: 83.5%
+1.1%
Acquired IPR&D and Milestones Expense
0.6%
Previous year: 0.5%
+20.0%
Gross Profit
$10.2B
Previous year: $7.44B
+37.7%
Cash and Equivalents
$7.29B
Previous year: $13.3B
-45.2%
Free Cash Flow
$5.2B
Previous year: $7.36B
-29.3%
Total Assets
$143B
Previous year: $136B
+5.3%

AbbVie

AbbVie

AbbVie Revenue by Segment

AbbVie 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.
  • Potential IPR&D and milestones expense related to the acquisition of Aliada Therapeutics is also excluded from AbbVie’s 2024 adjusted diluted EPS guidance.
  • Forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially.
  • Challenges to intellectual property, competition from other products, difficulties inherent in the research and development process, adverse litigation or government action, and changes to laws and regulations applicable to our industry are risks.

Revenue & Expenses

Visualization of income flow from segment revenue to net income

Company Overview

Full financial data and analysis

View AbbVie