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Abbott Laboratories (ABT - Free Report) is an Illinois-based company focused on bringing a diverse line of healthcare products to the market.
Abbott reports its diversified business in four segments – namely Established Pharmaceuticals Division (EPD), Medical Devices, Diagnostics and Nutrition. The company has reshaped its portfolio through strategic acquisitions/divestitures in recent times.
In Feb 2015, Abbott completed the sale of its branded generics pharmaceuticals business in developed markets. Realignment of the EPD division through acquisitions in Latin America and Russia, along with business divestitures in developed markets, has positioned the company well for the coming quarters.
The company rides on its strong EPD business and strategic buyouts. In 2017, Abbott completed the acquisition of Alere, which is expected to enhance the company’s stance in healthcare. However, foreign currency headwinds raise major concerns for the company, since a considerable percentage of Abbott’s revenues come from outside the United States.
Abbott has an impressive track record as the company beat estimates in the last four trailing quarters with an average positive earnings surprise of 2%.
Currently, Abbott has a Zacks Rank #3 (Hold), but that could definitely change following the company’s second-quarter 2018 earnings report which was just released.
Earnings: Adjusted earnings per share in the second quarter came in at 73 cents beating the Zacks Consensus Estimate of 71 cents.
Revenues: Revenues in the second quarter grossed $7.77 billion, beating the Zacks Consensus Estimate of $7.73 billion.
Key Stats: Worldwide revenues increased by 8% on organic basis and by 17% on year-over-year basis. The revenues for Nutrition segment came in at $1.86 billion, up 7.3% year over year. Diagnostics segment reported sales worth $1.87 billion, up 47.2% on year-over-year basis. Established Pharmaceuticals revenues were $1.13 billion, up, 10.5% from the year-ago quarter. Medical Devices revenues came in at $2.89 billion, up 11.3% from the year-ago quarter.
Major Factors: The company has raised full year earnings per share guidance to the range of $2.85 to $2.91 from the previous range of $2.80 to $2.90. Several new products launched by the company and steady overall growth have contributed to the solid performance. Furthermore, in May, Abbott announced U.S. FDA approval for XIENCE Sierra coronary stent system and Advisor HD Grid Mapping Catheter, Sensor Enabled.
Stock Price: Following the earnings release, share prices increased by 0.9% during the pre-market trading session.
Check back later for our full write up on this Abbott report later!
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Abbott (ABT) Beats on Earnings and Revenues in Q2
Abbott Laboratories (ABT - Free Report) is an Illinois-based company focused on bringing a diverse line of healthcare products to the market.
Abbott reports its diversified business in four segments – namely Established Pharmaceuticals Division (EPD), Medical Devices, Diagnostics and Nutrition. The company has reshaped its portfolio through strategic acquisitions/divestitures in recent times.
In Feb 2015, Abbott completed the sale of its branded generics pharmaceuticals business in developed markets. Realignment of the EPD division through acquisitions in Latin America and Russia, along with business divestitures in developed markets, has positioned the company well for the coming quarters.
The company rides on its strong EPD business and strategic buyouts. In 2017, Abbott completed the acquisition of Alere, which is expected to enhance the company’s stance in healthcare. However, foreign currency headwinds raise major concerns for the company, since a considerable percentage of Abbott’s revenues come from outside the United States.
Abbott Laboratories Price and EPS Surprise
Abbott Laboratories Price and EPS Surprise | Abbott Laboratories Quote
Abbott has an impressive track record as the company beat estimates in the last four trailing quarters with an average positive earnings surprise of 2%.
Currently, Abbott has a Zacks Rank #3 (Hold), but that could definitely change following the company’s second-quarter 2018 earnings report which was just released.
(You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here) We have highlighted some of the key stats from this just-revealed announcement below:
Earnings: Adjusted earnings per share in the second quarter came in at 73 cents beating the Zacks Consensus Estimate of 71 cents.
Revenues: Revenues in the second quarter grossed $7.77 billion, beating the Zacks Consensus Estimate of $7.73 billion.
Key Stats: Worldwide revenues increased by 8% on organic basis and by 17% on year-over-year basis. The revenues for Nutrition segment came in at $1.86 billion, up 7.3% year over year. Diagnostics segment reported sales worth $1.87 billion, up 47.2% on year-over-year basis. Established Pharmaceuticals revenues were $1.13 billion, up, 10.5% from the year-ago quarter. Medical Devices revenues came in at $2.89 billion, up 11.3% from the year-ago quarter.
Major Factors: The company has raised full year earnings per share guidance to the range of $2.85 to $2.91 from the previous range of $2.80 to $2.90. Several new products launched by the company and steady overall growth have contributed to the solid performance. Furthermore, in May, Abbott announced U.S. FDA approval for XIENCE Sierra coronary stent system and Advisor HD Grid Mapping Catheter, Sensor Enabled.
Stock Price: Following the earnings release, share prices increased by 0.9% during the pre-market trading session.
Check back later for our full write up on this Abbott report later!
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
See the pot trades we're targeting>>