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Abbott Labs Earnings: ABT Stock Jumps 3% on Q4 Beat

ABT beat revenue estimates for Q4

Abbott Labs (NYSE:ABT) earnings for the health care company’s fourth quarter of 2019 have ABT stock heading higher on Wednesday. That’s thanks to its adjusted EPS of 95 cents, which matches Wall Street’s estimate for the quarter. Revenue of $8.31 billion beats out analysts’ estimates of $8.26 billion.

Abbott Labs Earnings: ABT Stock Jumps 3% on Q4 Beat
Source: Sundry Photography/Shutterstock.com

Here are some additional highlights from the most recent Abbott Labs earnings report.

  • Adjusted per-share earnings for the period come in 18.52% above 81 cents from the same time last year.
  • Revenue is sitting 6.95% higher than the $7.77 billion reported in Q4 2018.
  • Operating earnings of $1.39 billion is an 18.80% increase YoY from $1.17billion.
  • The Abbot Labs earnings report also includes a net income of $1.05 billion.
  • That’s 60.55% better than the company’s net income of $654 million from the same period of the year prior.

Miles White, Chairman and CEO of Abbot Labs, says this about the ABT stock earnings report.

“Our focus on organic growth is driving top-tier performance. We’re entering 2020 with very good momentum and targeting continued strong growth.”

The Abbott Labs earnings report also includes its guidance for the full year of 2020. It is expecting adjusted earnings per share to range from $3.55 to $3.65. That has the midpoint of its outlook matching Wall Street’s estimate of $3.60 for the full year.

When it comes to the first quarter of 2020, Abbott Labs is looking for adjusted per-share earnings between 69 cents to 71 cents. For comparison, Wall Street is estimating 72 cents for that quarter.

ABT stock was up 2.81% as of Wednesday afternoon.

As of this writing, William White did not hold a position in any of the aforementioned securities.


Article printed from InvestorPlace Media, https://investorplace.com/2020/01/abbott-labs-earnings-abt-stock-jumps-3-on-q4-beat/.

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