Financial Performance - Abbott reported first-quarter 2024 sales of 10.0billion,reflectinga2.20.70 and an adjusted diluted EPS of 0.98,withfull−year2024dilutedEPSguidancenarrowedtoarangeof3.25 to 3.40[2].−Abbott′sfull−year2024organicsalesgrowthguidance,excludingCOVID−19testing−relatedsales,isnowprojectedat8.59.964 billion, a 2.2% increase from 9.747billioninQ12023[18].−NetearningsforQ12024were1.225 billion, a decrease of 7.0% compared to 1.318billioninQ12023[22].−DilutedearningspershareforQ12024were0.70, down 6.7% from 0.75inQ12023[22].−OperatingearningsforQ12024were1.386 billion, down 8.1% from 1.509billioninQ12023[22].−U.S.revenuedecreasedby2.13,846 million in Q1 2024 from 3,928millioninQ12023[33].−Internationalrevenueincreasedby5.26,118 million in Q1 2024, up from 5,819millioninQ12023[33].−Organicgrowthforthetotalcompanywasreportedat4.72.214 billion, a decline of 17.6% year-over-year, primarily due to a decrease in COVID-19 testing sales, which were 204millioncomparedto730 million in the prior year[7][8]. - Established Pharmaceuticals sales increased 3.1% on a reported basis and 13.7% on an organic basis, driven by growth in key emerging markets[9][10]. - Medical Devices sales reached 4.453billion,reflectinga14.21.5 billion, reflecting a 22.4% growth on a reported basis and 23.3% on an organic basis[12]. - In Electrophysiology, international sales grew 18.9% reported and 23.0% organic, with Europe seeing a 20.4% organic growth[12]. - Total Medical Devices revenue reached 4,453millioninQ12024,a14.23,900 million in Q1 2023[33]. - Vascular segment revenue was 689millioninQ12024,reflectingan11.7617 million in Q1 2023[33]. - The international Medical Devices segment showed a strong organic growth of 16.1% in Q1 2024[33]. Research and Development - Research and development expenses increased by 4.5% to 684millioninQ12024comparedto654 million in Q1 2023[22]. Corporate Actions - Abbott launched the Protality™ brand, a new high-protein nutrition shake, and received FDA approval for the TriClip™ treatment for tricuspid regurgitation in April 2024[2]. - The company completed enrollment in the Volt CE Mark clinical study for the Volt™ Pulsed Field Ablation System, aimed at treating heart rhythm disorders[2]. - The company declared a quarterly dividend of 0.55pershare,marking401consecutivequarterlydividendsand52yearsofdividendincreases[14].CostsandExpenses−Abbott′stotaloperatingcostsandexpensesroseby4.18.578 billion in Q1 2024 from 8.238billioninQ12023[22].−Thecompanyincurred518 million in specified items, including 472millionforintangibleamortizationand42 million for restructuring initiatives[35]. - Abbott's gross margin was impacted by acquisition-related expenses and restructuring costs totaling $518 million[35].
Abbott(ABT)2024-04-17 11:36