Abbott Labs: Q2 beats consensus
(CercleFinance.com) - Abbott Laboratories has reported adjusted EPS from continuing operations that is down 30.
5% at 57 cents for Q2 2020, albeit beating the consensus by 16 cents, with revenues down 8.2% to over 7.3 billion dollars.
On an organic basis, the healthcare group's sales fell by 5.4%, with growth in Nutrition (+3.1%) and Diagnostics (+7.1%) offset by declines in Established Pharmaceuticals (-0.7%) and especially Medical Devices (-19.9%).
Abbott says it expects FY 2020 adjusted EPS of at least 3.25 dollars. Note that three months ago, due to uncertainties surrounding the pandemic, Abbott suspended its previous target range of 3.55-3.65 dollars.
Copyright (c) 2020 CercleFinance.com. All rights reserved.
5% at 57 cents for Q2 2020, albeit beating the consensus by 16 cents, with revenues down 8.2% to over 7.3 billion dollars.
On an organic basis, the healthcare group's sales fell by 5.4%, with growth in Nutrition (+3.1%) and Diagnostics (+7.1%) offset by declines in Established Pharmaceuticals (-0.7%) and especially Medical Devices (-19.9%).
Abbott says it expects FY 2020 adjusted EPS of at least 3.25 dollars. Note that three months ago, due to uncertainties surrounding the pandemic, Abbott suspended its previous target range of 3.55-3.65 dollars.
Copyright (c) 2020 CercleFinance.com. All rights reserved.