Abbott Reports 2Q Results, Ups Guidance

Key products and innovations are fueling growth and driving the future of health tech.

Strategy and Strength|Jul.17, 2019

Our second quarter 2019 is in the books and the momentum keeps accelerating.

With the strength of our product portfolio, including key growth drivers FreeStyle® Libre, MitraClip® and Alinity, we're raising our full-year guidance on the top and bottom lines.

For the quarter, Abbott beat Wall Street estimates on the bottom line with our key products. All four core business units met or exceeded organic sales growth expectations.

We delivered top-tier sales growth of 7.5% on an organic basis (2.7% reported) and adjusted diluted earnings per share (EPS) of 82 cents (56 cents reported).

Looking ahead, we are raising our outlook for 2019 given our accelerating and strong performance. For organic sales, our full-year guidance is 7 to 8% (up from 6.5 to 7.5%)*. For EPS, our guidance is now $3.21 to $3.27 ($2.06 to $2.12 reported), reflecting double-digit growth at the midpoint and adding to an already strong forecast.

And our key products, innovative pipeline and focused execution is driving tremendous growth and shareholder value.

Some of the highlights include:

  • The FreeStyle® Libre System, our revolutionary glucose-monitoring system, continues to see unprecedented demand with nearly 73% growth in the quarter on an organic basis (63.9% reported).
  • MitraClip® is driving double-digit growth in our Structural Heart business – and making a big impact on more people's lives. MitraClip Sales grew 30% on an organic basis (26.7% reported).
  • We continue to see strong adoption of our Alinity family of advanced diagnostic testing technologies due to increased speed and efficiency. Alinity™ s, our most advanced system for screening blood and plasma, is now approved in the U.S. to help keep the blood supply safe.

For full financials, you can read our press release, or take a look at some additional materials below:

Abbott's Chairman and CEO Miles D. White shared his views on second-quarter performance:

Learn more about Abbott's second-quarter 2019 results:

Download a summary of Abbott's earnings highlights here.

2019 First-Quarter Results Infographic

For more information on Abbott's earnings results, see the news release.

*Abbott has not provided the GAAP financial measure for organic sales growth on a forward-looking basis because the company is unable to predict the impact of foreign exchange due to the unpredictability of future changes in foreign exchange rates, which could significantly impact reported sales growth.