Abbott Laboratories

ABT

Equity

ISIN US0028241000 / Valor 903037

New York Stock Exchange, Inc (2024-09-18)

USD 114.88-2.75%

Abbott Laboratories
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About company

Abbott Laboratories is a global healthcare company with a history spanning over 135 years, dedicated to improving lives through a wide range of healthcare products and technologies. With operations in more than 160 countries and a workforce of approximately 114,000 employees, Abbott focuses on major areas including cardiovascular care, diabetes care, diagnostics, neuromodulation, nutrition, and branded generic medicines. The company is known for its innovative solutions in managing health conditions, offering products like glucose monitoring systems that eliminate the need for painful fingersticks and technologies aimed at treating chronic pain and movement disorders. Abbott's commitment to healthcare innovation and its broad portfolio of products cater to the needs of consumers and healthcare professionals worldwide, aiming to make a lasting impact on global health.

Summarized from source with an LLMView SourceSector: Healthcare

Revenue Growth

Abbott Laboratories reported second-quarter 2024 sales of $10.4 billion, driven by strong underlying base business performance. The company achieved a reported sales growth of 4.0 percent and an organic sales growth of 9.3 percent, led by double-digit growth in Medical Devices.

Earnings Per Share

For the second quarter of 2024, Abbott Laboratories reported a GAAP diluted EPS of $0.74 and an adjusted diluted EPS of $1.14, which excludes specified items. The company has also raised its full-year 2024 EPS guidance range, projecting full-year diluted EPS on a GAAP basis of $3.30 to $3.40 and adjusted diluted EPS of $4.61 to $4.71.

Sales Breakdown

In the second quarter of 2024, Abbott Laboratories' U.S. sales were $3.934 billion, while international sales were $6.443 billion. The total reported sales were $10.377 billion, with the Medical Devices segment showing the highest growth at 10.2 percent. The impact of foreign exchange was a negative 3.5 percent on total reported sales.

Diagnostics Segment

Abbott Laboratories' Diagnostics segment saw a decline in sales due to reduced COVID-19 testing-related sales. Worldwide COVID-19 testing sales were $102 million in the second quarter of 2024, compared to $263 million in the same quarter of the previous year. Excluding COVID-19 testing-related sales, global Diagnostics sales increased by 5.9 percent on an organic basis.

Medical Devices Performance

The Medical Devices segment of Abbott Laboratories reported strong growth in the second quarter of 2024, with sales increasing by 10.2 percent on a reported basis and 12.1 percent on an organic basis. This growth was driven by continued strong adoption of Abbott's innovative products and technologies in the medical devices market.

Summarized from source with an LLMView Source

Key figures

13.7%1Y

-9.39%3Y

37.4%5Y

Performance

19.1%1Y

22.1%3Y

26.2%5Y

Volatility