Abbott Laboratories Clocks Strong Q2 Growth In Underlying Base Business, Reaffirms FY23 Outlook
Portfolio Pulse from Vandana Singh
Abbott Laboratories (NYSE:ABT) reported Q2 FY23 adjusted EPS of $1.08, down 25% Y/Y, beating the consensus of $1.05. Q2 sales of $9.97 billion decreased 11.4%, beating the consensus of $9.70 billion. Organic sales growth for the underlying base business was 11.5%, led by Medical Devices, Established Pharmaceuticals, and Nutrition. The company reaffirmed its FY23 outlook, projecting organic sales growth in the low double-digits and COVID-19 testing-related sales of approximately $1.3 billion.
July 20, 2023 | 1:15 pm
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Abbott Laboratories reported better than expected Q2 FY23 results and reaffirmed its FY23 outlook. This could potentially have a positive impact on the company's stock price.
Abbott Laboratories reported Q2 FY23 results that beat consensus estimates and reaffirmed its FY23 outlook. This indicates that the company is performing well and is confident about its future performance. This could potentially lead to increased investor confidence and a positive impact on the company's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100