Abbott Laboratories Meets Expectations in Latest Quarter, Narrows Outlook
17 October 2018 - 11:38PM
Dow Jones News
By Aisha Al-Muslim
Abbott Laboratories (ABT) reported on Wednesday a profit for the
third quarter of $563 million, or 32 cents a share, down from $603
million, or 34 cents a share, a year earlier. Adjusted earnings
were 75 cents a share, in-line with estimates by analysts polled by
Refinitiv.
Net sales for the global health-care company rose 12% to $7.66
billion, slightly ahead of the consensus forecast of $7.65
billion.
For 2018, the company narrowed its earnings guidance. Abbott
expects adjusted earnings per share from continuing operations of
$2.87 to $2.89, compared with its previous estimate in July of
$2.85 and $2.91. Analysts had forecast adjusted earnings of $2.89 a
share.
For the fourth quarter, the company guided adjusted earnings per
share from continuing operations of 80 cents to 82 cents, compared
with analysts' estimates of 82 cents a share.
The stock fell 2% to $69.50 in pre-market trading Wednesday.
Shares are up 29% in the last year.
Write to Aisha Al-Muslim at aisha.al-muslim@wsj.com
(END) Dow Jones Newswires
October 17, 2018 08:23 ET (12:23 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
Abbott Laboratories (NYSE:ABT)
Historical Stock Chart
From Apr 2024 to May 2024
Abbott Laboratories (NYSE:ABT)
Historical Stock Chart
From May 2023 to May 2024