By Dean Seal

 

Abbott Laboratories posted a wider profit and 10% sales growth in the second quarter, despite the hit it took from a voluntary recall and manufacturing shutdown for infant formula products made at one of its U.S. plants.

The Abbott Park, Ill.-based healthcare-products company reported net earnings of $2.02 billion, or $1.14 a share, compared with $1.19 billion, or 66 cents a share, in the same period a year ago.

Stripping out costs associated with a product recall, acquisitions and other one-time items, adjusted earrings were $1.43 a share. Analysts polled by FactSet had been expecting $1.13 a share.

Net sales were $11.26 billion, compared with $10.22 billion last year. Analysts surveyed by FactSet had been expecting $10.3 billion.

The company said that excluding $2.32 billion in Covid-19 testing-related revenue, worldwide sales ticked down during the quarter due to its infant formula recall.

 

Write to Dean Seal at dean.seal@wsj.com

 

(END) Dow Jones Newswires

July 20, 2022 08:17 ET (12:17 GMT)

Copyright (c) 2022 Dow Jones & Company, Inc.
Abbott Laboratories (NYSE:ABT)
Gráfico Histórico do Ativo
De Ago 2022 até Set 2022 Click aqui para mais gráficos Abbott Laboratories.
Abbott Laboratories (NYSE:ABT)
Gráfico Histórico do Ativo
De Set 2021 até Set 2022 Click aqui para mais gráficos Abbott Laboratories.