Abbott Laboratories Reports Strong Q1 Sales Growth Amid Earnings Decline, Raises Full-Year Guidance
17 Abril 2024 - 12:37PM
IH Market News
Abbott Laboratories (NYSE:ABT) reported on Wednesday a notable
increase in its first quarter sales for 2024, which rose by 2.2% to
reach $9.9 billion, surpassing analysts’ expectations. However, the
company experienced a decline in net earnings, which fell by 7.0%
to $1.2 billion, and diluted earnings per share (EPS) decreased by
6.7% to $0.70.
Despite the downturn in profitability, the healthcare giant has
adjusted its financial outlook upwards for the year. Abbott now
forecasts a full-year diluted EPS on a GAAP basis to be between
$3.25 and $3.40. Additionally, the company’s full-year 2024 organic
sales growth guidance is projected to range from 8.5% to 10.0%.
Chairman and CEO Robert B. Ford expressed optimism about the
company’s performance, stating, “Our first-quarter results reflect
a strong start to the year, and we are raising our full-year sales
and EPS guidance […] This was the fifth consecutive quarter that we
delivered double-digit organic sales growth in our underlying base
business.” This statement highlights the company’s confidence in
its operational strength and its ability to sustain growth amidst
challenging market conditions.
Abbott Laboratories (NYSE:ABT)
Gráfico Histórico do Ativo
De Abr 2024 até Mai 2024
Abbott Laboratories (NYSE:ABT)
Gráfico Histórico do Ativo
De Mai 2023 até Mai 2024