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Jun 30, 2024
Abbott Q2 2024 Earnings Report
Abbott's Q2 2024 earnings were reported, revealing sales of $10.4 billion driven by strong underlying base business performance.
Key Takeaways
Abbott reported strong Q2 2024 results, with sales reaching $10.4 billion. The company's performance was driven by its underlying base business, particularly Medical Devices, which experienced double-digit growth. Abbott raised its full-year EPS and narrowed its organic sales growth guidance.
GAAP diluted EPS was $0.74, and adjusted diluted EPS was $1.14.
Full-year 2024 EPS guidance was raised to $3.30 to $3.40 on a GAAP basis and $4.61 to $4.71 on an adjusted basis.
Full-year 2024 organic sales growth guidance, excluding COVID-19 testing-related sales, was narrowed to 9.5% to 10.0%.
The company continues to strengthen its portfolio with new product approvals, including the Esprit™ BTK system and FDA clearance for Lingo™ and Libre Rio™.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Abbott projects full-year 2024 diluted earnings per share under GAAP of $3.30 to $3.40. Excluding specified items, projected adjusted diluted earnings per share would be $4.61 to $4.71 for the full-year 2024. Abbott projects third-quarter 2024 diluted earnings per share under GAAP of $0.85 to $0.89. Excluding specified items, projected adjusted diluted earnings per share would be $1.18 to $1.22 for the third quarter 2024.
Positive Outlook
- Full-year 2024 diluted EPS on a GAAP basis is projected to be $3.30 to $3.40.
- Adjusted diluted EPS for the full-year 2024 is projected to be $4.61 to $4.71.
- Third-quarter 2024 diluted earnings per share under GAAP is projected to be $0.85 to $0.89.
- Adjusted diluted earnings per share for the third quarter 2024 is projected to be $1.18 to $1.22.
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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