Key facts
- Abbott beat quarterly earnings estimates with $1.31 per share, surpassing the $1.28 forecast.
- Total revenue reached $12.59 billion, exceeding the $12.5 billion expectation.
- Medical device segment sales grew 9% to $5.85 billion.
- Diabetes Care segment sales increased 11% to $2.19 billion.
- The company raised its 2026 profit forecast to $5.45-$5.60 per share.
Abbott Laboratories surpassed analyst expectations for its quarterly results and increased its annual profit forecast, driven by robust demand for its diagnostics and heart device businesses. The company reported an adjusted profit per share of $1.31, beating the $1.28 estimate, and total revenue of $12.59 billion, slightly above the $12.5 billion expected.
Sales in Abbott's medical devices segment rose 9% to $5.85 billion, while its Diabetes Care segment, featuring FreeStyle Libre, saw an 11% increase in sales to $2.19 billion. These gains are helping to offset a decline in revenue from COVID-19 testing products. The company's cancer diagnostics business, bolstered by recent acquisitions like Exact Sciences' Cologuard, is a key growth driver.
Abbott now anticipates an adjusted profit per share for 2026 in the range of $5.45 to $5.60, an upward revision from its previous forecast of $5.38 to $5.58. Analysts and investors are monitoring medical device companies, with those focused on electrophysiology and structural heart procedures, like Abbott, expected to show resilience despite potential pressures on companies with higher exposure to elective procedures.