Replies to post #731 on Abbott Laboratories (ABT)

[DewDiligence]

ABT 3Q21 CC transcript:

https://www.fool.com/earnings/call-transcripts/2021/10/20/abbott-laboratories-abt-q3-2021-earnings-call-tran

[DewDiligence]

ABT has essentially restored its 2021 non-GAAP EPS guidance from Apr 2021, which was $5.00+. In April, ABT expected 2021 COVID-diagnostics sales of $6.0-6.5B. In June, ABT lowered EPS guidance and reduced its expectation for 2021 COVID-19 sales to $4.0-4.5B (#msg-164129735) because COVID testing declined precipitously.

Then, the COVID Delta variant came calling. Now, it looks like ABT’s original forecast of $6.0-6.5B in 2021 COVID-diagnostic sales will be met after all, insofar as sales for the first 9 months of the year have been $5.4B.

[DewDiligence]

ABT 2021 non-GAAP EPS=$5.21, above the prior guidance range of $5.00-5.10 due to a surge in COVID diagnostics sales in December related to Omicron.

ABT’s 2022 non-GAAP-EPS guidance is >=$4.70 (-10% YoY) due to lower expected sales of COVID diagnostics, which were $7.7B(!) in 2021 and $2.3B in 4Q21.

4Q21 PR:
https://abbott.mediaroom.com/2022-01-26-Abbott-Reports-Strong-Fourth-Quarter-2021-Results-Issues-2022-Forecast

1-page summary sheet:
https://www.abbottinvestor.com/static-files/d7299f5f-28d7-4f48-aaf8-729bfc7c4157