Abbott Q3 2024 Earnings Report
Key Takeaways
Abbott's Q3 2024 earnings showcased a robust performance, with sales of $10.6 billion driven by strong underlying base business performance. The company reported a GAAP diluted EPS of $0.94 and an adjusted diluted EPS of $1.21. Abbott has raised the midpoint of its full-year EPS guidance range.
Sales of $10.6 billion driven by strong underlying base business performance.
Reported sales growth of 4.9 percent; organic sales growth for underlying base business of 8.2 percent, led by double-digit growth in Medical Devices.
Maintained full-year 2024 organic sales growth guidance range of 9.5% to 10.0%, excluding COVID-19 testing-related sales.
Board of directors authorized a new share repurchase program of up to $7 billion of the company's common shares.
Abbott
Abbott
Abbott Revenue by Segment
Abbott Revenue by Geographic Location
Forward Guidance
Abbott projects full-year 2024 diluted earnings per share under GAAP of $3.34 to $3.40 and projects adjusted diluted earnings per share of $4.64 to $4.70.
Positive Outlook
- Full-year 2024 diluted EPS on a GAAP basis of $3.34 to $3.40.
- Adjusted diluted EPS of $4.64 to $4.70 for the full-year 2024, which represents an increase at the midpoint of the guidance range.
- Fourth-quarter 2024 diluted earnings per share under GAAP of $0.96 to $1.02.
- Adjusted diluted earnings per share would be $1.31 to $1.37 for the fourth quarter 2024.
- Maintains its full-year 2024 organic sales growth guidance range of 9.5% to 10.0%, excluding COVID-19 testing-related sales.
Revenue & Expenses
Visualization of income flow from segment revenue to net income