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Abbott Labs' stock gains after profit and sales top forecasts, guidance is in li
Abbott Labs' stock gains after profit and sales top forecasts, guidance is in line
Shares of Abbott Laboratories gained 0.8% in premarket trade Wednesday, after the health-care company reported first-quarter earnings that beat expectations, sales that were slightly above and full-year profit guidance that was in line. Net income rose to $1.13 billion, or 38 cents a share, from $1.05 billion, or 23 cents a share, in the year-ago period. Excluding non-recurring items, adjusted EPS rose to 63 cents from 59 cents, above the FactSet consensus of 61 cents. Sales increased 2% to $7.54 billion, topping the FactSet consensus of $7.48 billion. Medical device sales rose 5.5% to $2.90 billion, above the FactSet consensus of $2.88 billion; diagnostic sales edged up 0.2% to $1.84 billion, matching expectations; nutrition sales grew 2.0% to $1.79 billion versus expectations of $1.74 billion; and established pharmaceutical sales fell 4.9% to $992 million, missing expectations of $999.4 million. The company expects adjusted EPS of 79 cents for the second-quarter, surrounding the FactSet consensus of 80 cents, and $3.15 to $3.25 for 2019, compared with expectations of $3.21. The stock has tacked on 5.6% year to date through Tuesday, while the S&P 500 has rallied 16%.
https://finance.yahoo.com/m/db63df0.../abbott-labs'-stock-gains.html?.tsrc=rss
Abbott Labs' stock gains after profit and sales top forecasts, guidance is in line
Shares of Abbott Laboratories gained 0.8% in premarket trade Wednesday, after the health-care company reported first-quarter earnings that beat expectations, sales that were slightly above and full-year profit guidance that was in line. Net income rose to $1.13 billion, or 38 cents a share, from $1.05 billion, or 23 cents a share, in the year-ago period. Excluding non-recurring items, adjusted EPS rose to 63 cents from 59 cents, above the FactSet consensus of 61 cents. Sales increased 2% to $7.54 billion, topping the FactSet consensus of $7.48 billion. Medical device sales rose 5.5% to $2.90 billion, above the FactSet consensus of $2.88 billion; diagnostic sales edged up 0.2% to $1.84 billion, matching expectations; nutrition sales grew 2.0% to $1.79 billion versus expectations of $1.74 billion; and established pharmaceutical sales fell 4.9% to $992 million, missing expectations of $999.4 million. The company expects adjusted EPS of 79 cents for the second-quarter, surrounding the FactSet consensus of 80 cents, and $3.15 to $3.25 for 2019, compared with expectations of $3.21. The stock has tacked on 5.6% year to date through Tuesday, while the S&P 500 has rallied 16%.
https://finance.yahoo.com/m/db63df0.../abbott-labs'-stock-gains.html?.tsrc=rss
