AbbVie Cuts Q3, FY Adj. EPS Outlook

(RTTNews) - AbbVie Inc. (ABBV), Thursday lowered its adjusted earnings per share outlook for the third quarter and the fiscal year 2024, citing acquisition-related IPR&D and milestones expenses of $82 million.

For the third quarter, the drug maker now expects adjusted EPS of $2.88 to $2.92 compared to previously estimated $2.92 to $2.96.

Analysts, on average, polled by Thomson Reuters estimate earnings to be $2.95 per share for the same period.

Additionally, AbbVie forecasts adjusted EPS of $10.67 to $10.87 compared to previously expected $10.71 to $10.91 for the full year 2024.

Analysts, on average, polled by Thomson Reuters estimate earnings to be $10.88 per share for the same period.