Replies to post #25730 on The Rising Influence of Rising Affluence

[DewDiligence]

ABT 1Q22 Results by Business Segment

  
                  %Corp      YoY Growth     
 Segment          Sales   (const currency)    
 Medical devices*  30%       +12% 
 Diagnostics       44%       +35% 
 Nutrition         16%        -4% 
 Drugs†            10%       +13%

1Q22 COVID-diagnostics sales were $3.3B (vs $2.3B in 4Q21), 62% of total 1Q22 diagnostics sales and 28% of total 1Q22 corporate sales.

Nutrition sales in the US were hampered by the infant-formula recall in Feb 2022 (#msg-168576155, #msg-167958896).

58% of overall corporate sales were ex-US.

*Includes diabetes care.
†Branded generics in emerging markets.

[DewDiligence]

ABT reports 2Q22 results–raises 2022 EPS guidance:

https://abbott.mediaroom.com/2022-07-20-Abbott-Reports-Second-Quarter-2022-Results-and-Raises-Full-Year-EPS-Guidance

The new 2022 non-GAAP EPS guidance is $4.90+ (up from the prior guidance of $4.70+).

The main reason for the raise in EPS guidance: in 2Q22, ABT sold $2.3B of COVID diagnostics, down from $3.3B in 1Q22 but crushing the prior guidance of $1.2B for 2Q22/3Q22/4Q22 combined. Full-year 2022 guidance for COVID diagnostics is now $6.1B (up from $4.5B), which implies $500K combined in 3Q22/4Q22.

2Q22 Freestyle Libre sales were $1.1B, +10% QoQ and +26% YoY in constant currency.