Abbott Labs reports Q3 sales of $10.6B, up 4.9% - Breaking The News

Abbott Labs reports Q3 sales of $10.6B, up 4.9%

16 October

1 min read

EPA-EFE/CJ GUNTHER

Abbott Laboratories announced on Wednesday that its sales for the third quarter reached $10.6 billion, rising by 4.9% compared to the same quarter in 2023. Net earnings increased 14.6% on a yearly basis to $1.6 billion, with diluted earnings per share (EPS) also up 14.6% to $0.94. The company released its updated 2024 guidance, projecting diluted EPS from $3.34 to $3.40. Organic sales growth forecast was confirmed in the range of 9.5% to 10%.

"Our results this quarter demonstrate the strength of our diversified business model. We're well-positioned to achieve the upper end of our initial guidance ranges for the year and have great momentum heading into next year," CEO Robert Ford said.

Abbott Labs' shares rose by 0.30% in premarket trade.

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