Bulletin
Investor Alert

New York Markets Close in:

Market Pulse Archives

July 22, 2021, 7:39 a.m. EDT

Abbott Labs stock gains after profit more than doubles, sales rise above expectations

new
Watchlist Relevance
LEARN MORE

Want to see how this story relates to your watchlist?

Just add items to create a watchlist now:

  • X
    Abbott Laboratories (ABT)
  • X
    S&P 500 Index (SPX)

or Cancel Already have a watchlist? Log In

By Tomi Kilgore

Shares of Abbott Laboratories /zigman2/quotes/203724446/composite ABT +1.40% edged up 0.2% in premarket trading Thursday, after the medical devices, diagnostics and nutrition company reported second-quarter profit and sales that rose above expectations, with beats in all of its major business segments. Net income more than doubled, to $1.19 billion, or $1.17 a share, from $537 million, or 57 cents a share, in the year-ago period. Excluding nonrecurring items, adjusted earnings per share of $1.17 topped the FactSet consensus of $1.02. Sales grew 39.5% to $10.22 billion, above the FactSet consensus of $9.69 billion, with strongest growth in diagnostics sales (62.8%) and medical devices (51.3%). For 2021, the company expects adjusted EPS of $4.30 to $4.50, compared with the FactSet consensus of $4.36. "We're achieving very strong growth across our portfolio," said Chief Executive Robert Ford. "Perhaps most impressively, excluding COVID testing-related sales, our sales grew more than 11 percent on an organic basis compared to pre-pandemic levels in the second quarter of 2019, which demonstrates the fundamental strength of our performance." The stock has gained 8.7% year to date through Wednesday, while the S&P 500 /zigman2/quotes/210599714/realtime SPX +1.63% has advanced 16.0%.

/zigman2/quotes/203724446/composite
US : U.S.: NYSE
$ 128.51
+1.77 +1.40%
Volume: 1.99M
Dec. 2, 2021 12:24p
P/E Ratio
31.80
Dividend Yield
1.40%
Market Cap
$224.11 billion
Rev. per Employee
$317,505
loading...
/zigman2/quotes/210599714/realtime
US : S&P US
4,586.51
+73.47 +1.63%
Volume: 1.25B
Dec. 2, 2021 12:24p
loading...

This Story has 0 Comments
Be the first to comment
More News In
Industries

Story Conversation

Commenting FAQs »

Partner Center

Link to MarketWatch's Slice.