Abbott Laboratories (ABT)

[DewDiligence]

ABT cuts_2021_non-GAAP_EPS_guidance_due to_slowdown_for_COVID_diagnostics:

https://finance.yahoo.com/news/abbott-issues-updated-2021-outlook-120000024.html

Abbott today announced an update to its financial outlook for the full-year 2021. The updated guidance is due to significantly lower recent and projected COVID-19 diagnostic testing demand. This has been driven by several factors, including significant reductions in cases in the U.S. and other major developed countries, accelerated rollout of COVID-19 vaccines globally and, most recently, U.S. health authority guidance on testing for fully vaccinated individuals.

The new guidance for 2021 non-GAAP EPS guidance is $4.30-4.50, down from the $5.00+ guidance given in April (#msg-163300631).

I can't recall ABT's ever cutting guidance before. That's how reliable it has been.