Abbott Laboratories Boosts FY24 Earnings Outlook - Update

(RTTNews) - While reporting financial results for the second quarter on Thursday, Abbott Laboratories (ABT) provided earnings and adjusted earnings guidance for the third quarter and raised its outlook for the full-year 2024.

For the third quarter, Abbott projects earnings in a range of $0.85 to $0.89 per share and adjusted earnings in a range of $1.18 to $1.22 per share.

On average, 20 analysts polled by Thomson Reuters expect the company to report earnings of $1.10 per share for the quarter. Analysts' estimates typically exclude special items.

Looking ahead to fiscal 2024, the company now projects earnings in a range of $3.30 to $3.40 per share and adjusted earnings in a range of $4.61 to $4.71 per share.

Previously, the company expected earnings in a range of $3.25 to $3.40 per share and adjusted earnings in a range of $4.55 to $4.70 per share.

The Street is looking for earnings of $4.63 per share for the year.

Abbott narrowed its full-year organic sales growth guidance range, excluding COVID-19 testing-related sales, to 9.5 to 10.0 percent, which represents an increase at the midpoint of the range.

On June 14, 2024, the board of directors of Abbott declared a quarterly dividend of $0.55 per share, payable on August 15, 2024 to shareholders of record at the close of business on July 15, 2024.

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