- Abbott Laboratories (NYSE: ABT) has reported Q1 adjusted earnings of $1.32 per share on $10.5 billion in gross sales for its first quarter.
- Although EPS was above the estimated $1.27, revenues fell wanting the expectation of $10.69 billion.
- Within the year-earlier interval, Abbott earned $0.65 per share and reported $7.73 billion in gross sales.
- For the 12 months ending in 2021, the corporate nonetheless sees an adjusted revenue of at the very least $5 a share versus analysts’ estimate of $5.04.
- First-quarter gross sales of $10.5 billion elevated 35.3% on a reported foundation and 32.9% on an natural foundation, which excludes the affect of international trade.
- World COVID-19 testing-related gross sales have been $2.2 billion within the first quarter, led by mixed gross sales of $1.8 billion from Abbott’s BinaxNOW, Panbio, and ID NOW fast testing platforms.
- Q1 gross sales elevated 7.6% on a reported foundation and 5.7% on an natural foundation, excluding COVID-19 testing-related gross sales.
- Vitamin gross sales elevated 6.4% on an natural foundation to round $2 billion, led by international Grownup Vitamin gross sales development of 18.3%, offset by decrease Pediatric Vitamin gross sales as development was negatively impacted when customers elevated purchases upfront of stay-at-home directives.
- Medical Machine gross sales of $3.3 billion have been up 8.8% on an natural foundation, pushed by continued restoration from the COVID-19 pandemic. In Diabetes Care, gross sales of FreeStyle Libre and Libre Sense have been $829 million within the quarter. FreeStyle Libre now has greater than 3 million customers worldwide.
- Value Motion: ABT shares are down 3.1% at $120.65 in premarket buying and selling on the final examine Tuesday.
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