Abbvie Inc (ABBV)

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AbbVie Stock Gains After Hiking FY21 Earnings Outlook, Annual Dividend
8:04 am ET October 29, 2021 (Benzinga) Print
AbbVie Inc (NYSE: ABBV) reports Q3 adjusted EPS of $3.33, higher than $2.83 reported a year ago and beating the consensus of $3.22.
Overall sales increased 11.2% Y/Y to $14.34 billion, almost in line with the consensus of $14.32 billion.
The immunology portfolio generated $6.67 billion in sales, +15.3% (14.9% on an operational basis).
Hematologic oncology portfolio sales were $1.87 billion, +8.4% (+8.1%).
Sales from the neuroscience portfolio reached $1.57 billion, +25.5% (+25%).
Aesthetics portfolio sales increased 29.3% (+27.7%) to $1.25 billion.
Adjusted gross margin expanded from 81.7% to 83.2%. The operating margin also improved from 48.8% to 51.1%.
FY21 guidance: AbbVie raises FY21 adjusted EPS guidance from $12.52 - $12.62 to $12.63 - $12.67 (consensus of $12.59).
The Company also increased the dividend by 8.5%, from $1.30 per share to $1.41, payable on February 15, 2022, to shareholders of record as of January 14, 2022.
Price Action: ABBV shares are up 3.03% at $113.00 during the premarket session on the last check Friday.