Abbott Q2 2020 Earnings Report
Key Takeaways
Abbott's Q2 2020 worldwide sales reached $7.3 billion, a decrease of 8.2 percent on a reported basis but only a 5.4 percent decrease on an organic basis. The company's diversified business model and leadership in COVID-19 testing contributed to significant improvements in growth trends throughout the quarter.
Worldwide sales decreased 8.2 percent on a reported basis and 5.4 percent on an organic basis.
Nutrition sales increased 0.4 percent on a reported basis and 3.1 percent on an organic basis.
Diagnostics sales increased 4.7 percent on a reported basis and 7.1 percent on an organic basis, driven by COVID-19 testing.
Medical Devices sales decreased 21.2 percent on a reported basis and 19.9 percent on an organic basis due to reduced procedure volumes.
Abbott
Abbott
Forward Guidance
Abbott projects full-year 2020 diluted earnings per share from continuing operations under GAAP of at least $2.00. Excluding specified items, projected adjusted diluted earnings per share from continuing operations would be at least $3.25 for full-year 2020.