Abbott Reports Fourth-Quarter and Full-Year 2024 Results; Issues 2025 Financial Outlook

Core Insights - Abbott reported strong financial results for the fourth quarter of 2024, achieving the highest sales and earnings per share growth of the year, with a total sales of $10.974 billion, representing a 7.2$41.950 billion, a 4.6% increase from 2023, with organic sales growth of 9.6% when excluding COVID-19 testing [6][29] Fourth-Quarter Business Overview - U.S. sales for the fourth quarter were $4.341 billion, up 10.0$6.633 billion, up 5.4% [4][6] - The Nutrition segment reported sales of $2.129 billion, with U.S. sales increasing by 8.0$2.520 billion, with a reported decline of 0.6% year-over-year, primarily due to reduced demand for COVID-19 tests [12][13] - Medical Devices sales increased by 13.7% to $5.052 billion, driven by strong performance in various product lines [20][21] Full-Year Results - For the full year 2024, Abbott's gross margin improved by 60 basis points on a GAAP basis compared to 2023, reflecting operational efficiency [6][35] - The company achieved a GAAP diluted EPS of$7.64 and an adjusted diluted EPS of 4.67 for the full year [6][35] - Abbott's R&D pipeline yielded over 15 new growth opportunities in 2024, contributing to future growth prospects [6][23] Guidance for 2025 - Abbott projects full-year 2025 organic sales growth to be in the range of 7.5% to 8.5% and an adjusted operating margin of 23.5% to 24.0% of sales [6][23] - The company anticipates adjusted diluted EPS for 2025 to be between 5.05 and $5.25, indicating expected double-digit growth [6][23] Dividend Declaration - Abbott declared a quarterly dividend of$0.59 per share, marking the 404th consecutive quarterly dividend, and has increased its dividend payout for 53 consecutive years [25]