3Q Points to Strong Sales, EPS Growth

Key products — FreeStyle Libre, MitraClip and Alinity — and strong execution drive impressive growth in 3Q.

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Strategy and Strength | Oct. 16, 2019

We're getting things done. Again.

Our commitment to innovation, our strong execution and our diversified portfolio — which includes key products FreeStyle Libre, MitraClip and Alinity — put us in position to hit our third-quarter 2019 mark.

For the quarter, Abbott met expectations on the top and bottom lines to deliver top-tier sales growth of 7.6% on an organic basis (5.5% reported) and adjusted diluted earnings per share (EPS) of 84 cents (53 cents reported), an increase of 12% versus last year.

Looking ahead, we are on track to achieve the range of sales and EPS growth we set out at the beginning of the year. We’re also narrowing our outlook for 2019 to $3.23 to $3.25 ($2.06 to $2.08 reported) reflecting double-digit growth at the midpoint.

Thanks to our strong product portfolio, a steady cadence of new product approvals, expanded reimbursement coverage and positive clinical data, we are well-positioned to sustain growth for years to come.

Here's a look at some of the quarter highlights:

  • We continue to make progress expanding reimbursement for FreeStyle® Libre while moving toward integration of glucose sensing and insulin delivery technologies with several strategic partners.
  • Data from the COAPT™ Trial show MitraClip is cost effective, increases life expectancy and improves quality of life. We also received U.S. approval for our next-generation MitraClip device in the quarter.
  • We're achieving strong adoption of our Alinity family of advanced diagnostic testing technologies due to increased speed and efficiency in laboratories. Alinity®s our most advanced system for screening blood and plasma, received approval 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 third-quarter performance:

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

Download a summary of Abbott's earnings highlights here.

2019 Third-Quarter Results Infographic

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

* Organic sales growth excludes the prior year first-, second- and third-quarter results for a non-core business within U.S. Adult Nutrition, which was discontinued during the third-quarter 2018; and excludes the impact of foreign exchange. For full financial data and reconciliation of non-GAAP measures, please see our press release dated October 16, 2019, available at www.abbottinvestor.com.