Loading...
•
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.
Revenue by Segment
Revenue by Geographic Location
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.
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
Loading earnings performance data...
Loading earnings reaction data...