Replies to post #720 on Abbott Laboratories (ABT)

[DewDiligence]

ABT 1Q21 Results by Business Segment

  
    
                  %Corp      YoY Growth 
 Segment          Sales   (const currency) 
 Medical devices*  32%        +9%  
 Diagnostics       38%      +115%  
 Nutrition         19%        +6%  
 Drugs†            10%        +6%
63% of overall sales were ex-US.  
  
 *Includes diabetes care.  
 †Branded generics in emerging markets.
                            

[DewDiligence]

ABT 1Q21 CC transcript:

https://finance.yahoo.com/m/f830d23c-6a68-3b40-b967-b9a8aa18c7f1/abbott-laboratories-(abt)-q1.html

[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.