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ABT FY2026 Q1 IN LINE

Отчётный звонок Abbott Laboratories

Apr 16, 2026 · 09:00 ET Mike CamillaPhil BoudreauRobert Ford
Вывод Buzzberg

Exact Sciences adds $3B incremental sales and accelerates growth

Abbott reported Q1 EPS of $1.15 in line with guidance and comparable revenue growth of 3.7%. The company closed the Exact Sciences acquisition, which added meaningful growth but also resulted in 20c EPS dilution for the year. Management maintained its EPS guidance midpoint of $5.48 and introduced a 6.5-7.5% comparable revenue growth outlook, while taking a cautious stance on the respiratory season and expecting H2 acceleration driven by EP launches, core lab recovery, and nutrition turnaround. Q1 EPS of $1.15 met guidance, with comparable sales growth of 3.7%.

Вывод Buzzberg Exact Sciences adds $3B incremental sales and accelerates growth Abbott reported Q1 EPS of $1.15 in line with guidance and comparable revenue growth of 3.7%. The company closed the Exact Sciences acquisition, which added meaningful growth but also resulted in 20c EPS dilution for the year. Management maintained its EPS guidance midpoint of $5.48 and introduced a 6.5-7.5% comparable revenue growth outlook, while taking a cautious stance on the respiratory season and expecting H2 acceleration driven by EP launches, core lab recovery, and nutrition turnaround. Q1 EPS of $1.15 met guidance, with comparable sales growth of 3.7%. Читать полный анализСвернуть анализ

Abbott reported Q1 EPS of $1.15 in line with guidance and comparable revenue growth of 3.7%. The company closed the Exact Sciences acquisition, which added meaningful growth but also resulted in 20c EPS dilution for the year. Management maintained its EPS guidance midpoint of $5.48 and introduced a 6.5-7.5% comparable revenue growth outlook, while taking a cautious stance on the respiratory season and expecting H2 acceleration driven by EP launches, core lab recovery, and nutrition turnaround. Q1 EPS of $1.15 met guidance, with comparable sales growth of 3.7%.

  • Full-year EPS guidance lowered to $5.48 midpoint solely due to Exact Sciences dilution (20c), unchanged from deal announcement.
  • Full-year comparable sales growth guidance of 6.5-7.5% (new comparable basis including Exact Sciences in both years).
  • CGM sales were $2B growing 7.5%, impacted by a tender delay and 2025 restocking comps, but management expects re-acceleration to double-digits in Q2.
Revenue $11.164B -3% QoQ
EPS $1.15 -23% QoQ
Gross margin 56.28% reported
Op margin 16.5% reported

Что изменилось в этом квартале

01
M&A

Exact Sciences adds $3B incremental sales and accelerates growth

Abbott reported Q1 EPS of $1.15 in line with guidance and comparable revenue growth of 3.7%. The company closed the Exact Sciences acquisition, which added meaningful growth but also resulted in 20c EPS dilution for the year. Management maintained its EPS guidance midpoint of…

02
Diabetes

CGM expected to return to double-digit growth in Q2

Q1 EPS of $1.15 met guidance, with comparable sales growth of 3.7%.

03
Electrophysiology

Electrophysiology growth to accelerate as new PFA catheters launch

Full-year EPS guidance lowered to $5.48 midpoint solely due to Exact Sciences dilution (20c), unchanged from deal announcement.

04
Nutrition

Nutrition pricing actions starting to drive volume growth

Full-year comparable sales growth guidance of 6.5-7.5% (new comparable basis including Exact Sciences in both years).

Спрос

Спрос

Заказы и конверсия

Guidance is maintained but the tone is cautious: management guided EPS down due to Exact Sciences dilution and refused to bake in a strong respiratory season, signaling conservative near-term outlook despite H2 acceleration plans.

Тон · Confident

Management repeatedly affirmed confidence in accelerating second-half growth and cited clear visibility into key drivers, while candidly acknowledging near-term headwinds.

Ограничения

Manufacturing capacity

So I think the combination of the The increased demand followed by this bottleneck.

“So I think the combination of the The increased demand followed by this bottleneck.”
Robert Ford

Альфа цепочки поставок

A1

The respiratory season was much weaker than even the conservative forecast, and management explicitly decided not to assume a rebound in Q4 testing demand, which is a notable change from past guidance philosophy.

“I just decided that I didn't think it was prudent to bake that into the forecast... I'm not going to forecast that we're going to make it up in Q4, this respiratory aspect.”
Robert Ford
A2

Core lab diagnostics sales in China were flat in Q1 versus prior-year declines of 15-30%, suggesting the company is finally lapping the VBP headwinds, a much faster recovery than some expected.

“I think our sales in China for CoreLab were flat in Q1. If you think about what they were in last year, we were, you know, between 15% and 30% down every quarter”
Robert Ford

Прогноз компании

In LineGuidance · revenue to 7% · was LOWERED last Q
Прогноз компании
ПоказательПериодДиапазонСерединаСтатус
EPSFY2026$5.48$5.48MAINTAINED
RevenueFY20266.5%–7.5%7%INITIATED

Надёжность прогнозов

1 / 1выполнено или превышено
Надёжность прогнозов
Дата прогнозаПоказательЦелевой периодПрогнозФактРезультат
FY2025 Q4EPSFY2026 Q1$1.12–$1.18$1.15Met / beat

Сигналы по компаниям

с момента звонка
Инвестиции

EXAS (now acquired) is performing strongly, growing 13% with Cologuard in mid-teens, and management is bullish on sustaining this growth through international expansion and rescreen momentum.

“In cancer diagnostics, sales grew 13% on a comparable basis, driven by mid-teens growth of Cologuard and high teens growth in international markets.”
Robert Ford