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Abbott
🇺🇸 NYSE:ABT
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Dec 31, 2022

Abbott Q4 2022 Earnings Report

Abbott's Q4 2022 performance was influenced by a decline in COVID-19 testing-related sales, while new product approvals strengthened the portfolio.

Key Takeaways

Abbott's Q4 2022 sales reached $10.1 billion, but were negatively impacted by a decline in COVID-19 testing-related sales. The company's GAAP diluted EPS was $0.59, and adjusted diluted EPS was $1.03. Abbott issued full-year 2023 guidance for diluted EPS from continuing operations on a GAAP basis of $3.05 to $3.25 and full-year adjusted EPS from continuing operations of $4.30 to $4.50.

Fourth-quarter sales reached $10.1 billion, impacted by a decline in COVID-19 testing sales, decreasing 12.0% reported and 6.1% organically.

Excluding COVID-19 testing sales, fourth-quarter sales decreased 1.4% reported and increased 5.4% organically.

GAAP diluted EPS was $0.59 in the fourth quarter, with adjusted diluted EPS at $1.03.

Abbott projects full-year 2023 organic sales growth, excluding COVID-19 testing sales, of high-single digits and COVID-19 testing sales of around $2.0 billion.

Total Revenue
$10.1B
Previous year: $11.5B
-12.0%
EPS
$1.03
Previous year: $1.32
-22.0%
Organic Sales Growth
-6.1%
Previous year: 7.7%
-179.2%
Gross Profit
$5.5B
Previous year: $6.7B
-18.0%
Cash and Equivalents
$9.88B
Previous year: $9.8B
+0.8%
Free Cash Flow
$1.72B
Previous year: $2.45B
-30.0%
Total Assets
$74.4B
Previous year: $75.2B
-1.0%

Abbott

Abbott

Abbott Revenue by Segment

Abbott Revenue by Geographic Location

Forward Guidance

Abbott projects full-year 2023 diluted earnings per share from continuing operations under GAAP of $3.05 to $3.25. Excluding specified items, projected adjusted diluted earnings per share from continuing operations would be $4.30 to $4.50 for the full-year 2023. Abbott projects full-year 2023 organic sales growth, excluding COVID-19 testing-related sales, of high-single digits and COVID-19 testing-related sales of around $2.0 billion.

Positive Outlook

  • Projected full-year 2023 diluted earnings per share from continuing operations under GAAP of $3.05 to $3.25.
  • Projected adjusted diluted earnings per share from continuing operations of $4.30 to $4.50 for the full-year 2023, excluding specified items.
  • Forecasted full-year 2023 organic sales growth, excluding COVID-19 testing-related sales, of high-single digits.
  • Expected COVID-19 testing-related sales of around $2.0 billion in 2023.
  • New product launches position the company well going forward.

Challenges Ahead

  • Unpredictability of future changes in foreign exchange rates could significantly impact reported sales growth.
  • Economic factors may affect Abbott's operations.
  • Competitive factors may affect Abbott's operations.
  • Governmental factors may affect Abbott's operations.
  • Technological factors may affect Abbott's operations.

Revenue & Expenses

Visualization of income flow from segment revenue to net income

Company Overview

Full financial data and analysis

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