Biotech Values

[DewDiligence]

ABT—If these companies would stop with their non-gaap BS, we'd see that their real earnings are terrible and will continue to suffer as the dollar weakens.

Your post is off-base on two counts. First, a weaker dollar will increase ABT’s reported sales and profits, not decrease them. Second, ABT’s GAAP numbers are hugely distorted by one-time costs associated with the Solvay acquisition, which is the kind of deal that is unlikely to be repeated. Thus, the non-GAAP figures provide a clearer indication of ABT’s earnings power in the next few years than the GAAP figures do.