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AbbVie Q3 revenue beats expectations on neuroscience portfolio expansion, raises outlook

By Reuters News


Overview

  • U.S. drugmaker's Q3 revenue rose 10.3% yr/yr but missed analyst expectations

  • Adjusted EPS for Q3 beat analyst expectations

  • Company completed Apogee Therapeutics acquisition and raised 2026 adjusted EPS guidance


Outlook

  • AbbVie raises 2026 adjusted diluted EPS guidance to $13.95-$13.99

  • Company expects additional data for lutikizumab in hidradenitis suppurativa to support regulatory submissions in H2 2027

  • AbbVie says it continues to see strong momentum across its portfolio


Result Drivers

  • IMMUNOLOGY GROWTH - Strong sales of Skyrizi and Rinvoq drove immunology portfolio revenue up 16.3% yr/yr

  • NEUROSCIENCE EXPANSION - Neuroscience portfolio revenue rose 19.4% yr/yr, led by Vraylar, Botox Therapeutic, Ubrelvy and Qulipta

  • HUMIRA DECLINE - Humira revenue fell 31.2% yr/yr, offsetting some portfolio growth


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Revenue

Beat

$17.40 bln

$17.31 bln (22 Analysts)

Q3 Adjusted EPS

Beat

$3.82

$3.75 (17 Analysts)

Q3 EPS

$2.37


Analyst Coverage

  • The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 26 "strong buy" or "buy", 6 "hold" and no "sell" or "strong sell"

  • The average consensus recommendation for the pharmaceuticals peer group is "buy"

  • Wall Street's median 12-month price target for AbbVie Inc. is $288.00, about 1% below its October 29 closing price of $290.79

  • The stock recently traded at 18 times the next 12-month earnings vs. a P/E of 17 three months ago


Reuters Recommended Reads

  • Oct 29 - US drugmaker Eli Lilly beats Q3 revenue estimates on product demand, lifts FY outlook

  • Oct 29 - Merck Q3 profit beats on Keytruda demand

  • Oct 30 - Sanofi Q3 revenue beats estimates on new launches; lifts outlook


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(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.)

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