Abbott's Q3 revenue slightly beats estimates, reaffirms adjusted EPS guidance
Overview
Healthcare firm's Q3 revenue rose 14.5%, slightly beating analyst expectations
Adjusted EPS for Q3 met analyst expectations
Company expanded portfolio with key new product approvals in diabetes and cancer diagnostics
Outlook
Abbott reaffirms full-year 2026 adjusted diluted EPS guidance at $5.50 to $5.55
Company expects full-year 2026 comparable sales growth of about 6.0%
Abbott projects Q4 2026 adjusted diluted EPS of $1.62 to $1.67
Result Drivers
BALANCED GROWTH - Co said strong Q3 results reflected balanced growth across its portfolio, with contributions from multiple businesses
DIAGNOSTICS ACQUISITION IMPACT - Growth in diagnostics segment was driven by acquisition of Exact Sciences and increased sales of Cologuard
Company press release:
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Revenue | Slight Beat* | $13.01 bln | $13 bln (24 Analysts) |
Q3 Adjusted EPS | Meet | $1.42 | $1.42 (23 Analysts) |
Q3 EPS | $0.53 |
*Applies to a deviation of less than 1%; not applicable for per-share numbers.
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 25 "strong buy" or "buy", 4 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the medical equipment, supplies & distribution peer group is "buy"
Wall Street's median 12-month price target for Abbott Laboratories is $120.50, about 17.6% above its October 20 closing price of $102.45
The stock recently traded at 17 times the next 12-month earnings vs. a P/E of 16 three months ago
Reuters Recommended Reads
Oct 21 - Abbott to separate global nutrition business
Oct 21 - Thermo Fisher Q3 revenue, adj profit beat estimates after new product launches
Oct 21 - Danaher Q3 adjusted EPS beats, FY guidance raised
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)