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Dec 31, 2023
AbbVie Q4 2023 Earnings Report
AbbVie's financial performance for Q4 2023 decreased compared to the previous year.
Key Takeaways
AbbVie reported a decrease in net revenues and diluted EPS for the fourth quarter of 2023. Worldwide net revenues were $14.301 billion, a decrease of 5.4 percent. Diluted EPS was $0.46 on a GAAP basis, a decrease of 66.7 percent, while adjusted diluted EPS was $2.79, a decrease of 22.5 percent.
Worldwide net revenues decreased by 5.4 percent to $14.301 billion.
Global net revenues from the immunology portfolio decreased by 12.3 percent to $6.953 billion.
Global net revenues from the oncology portfolio decreased by 7.4 percent to $1.509 billion.
Diluted EPS decreased by 66.7 percent to $0.46 on a GAAP basis, and adjusted diluted EPS decreased by 22.5 percent to $2.79.
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 issuing its adjusted diluted EPS guidance for the full-year 2024 of $11.05 to $11.25. This guidance includes a $0.32 per share dilutive impact related to the proposed ImmunoGen and Cerevel Therapeutics acquisitions, which are anticipated to close in the middle of 2024.
Positive Outlook
- Reaffirming expectations for high single-digit compound annual revenue growth rate through 2029.
- Raising long-term outlook for Skyrizi and Rinvoq revenues, expecting combined 2027 revenues of more than $27 billion.
- Raising long-term outlook for Ubrelvy and Qulipta revenues, expecting peak combined revenues of more than $3 billion.
- Well positioned to fully absorb Humira erosion.
- Achieve modest operational revenue growth.
Challenges Ahead
- Includes a $0.32 per share dilutive impact related to the proposed ImmunoGen and Cerevel Therapeutics acquisitions.
- Excludes any impact from acquired IPR&D and milestones that may be incurred during 2024.
- 2024 adjusted diluted EPS guidance excludes any impact from acquired IPR&D and milestones.
- Net revenues were $14.301 billion, a decrease of 5.4 percent.
- Diluted EPS in the fourth quarter was $0.46 on a GAAP basis.
Revenue & Expenses
Visualization of income flow from segment revenue to net income