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Abbott Laboratories (ABT) SEC Filing 10-K Annual Report for the fiscal year ending Sunday, December 31, 2023

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Abbott Laboratories

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CIK: 1800 Ticker: ABT

Exhibit 99.1 9.1
abbottlogo.jpg
  News Release

Abbott Reports Fourth-Quarter and Full-Year 2023 Results; Issues 2024 Financial Outlook

–Fourth-quarter reported sales increased 1.5 percent; organic sales growth for the underlying base business increased 11.0 percent
–Full-year 2023 reported sales decreased 8.1 percent due to anticipated decline in COVID-19 testing-related sales; organic sales growth for the underlying base business increased 11.6 percent
–Full-year 2023 GAAP diluted EPS of $3.26; adjusted diluted EPS of $4.44
–R&D pipeline continues to deliver steady cadence of new products
ABBOTT PARK, Ill., Jan. 24, 2024 — Abbott today announced financial results for the fourth quarter ended Dec. 31, 2023.

•Fourth-quarter sales increased 1.5 percent on a reported basis, 2.1 percent on an organic basis, and 11.0 percent on an organic basis, excluding COVID-19 testing-related sales1.
•Fourth-quarter GAAP diluted EPS of $0.91 and adjusted diluted EPS of $1.19, which excludes specified items.
•Abbott issues full-year 2024 guidance for diluted EPS on a GAAP basis of $3.20 to $3.40 and full-year adjusted diluted EPS of $4.50 to $4.70.
•Abbott projects full-year 2024 organic sales growth, excluding COVID-19 testing-related sales, to be in the range of 8.0% to 10.0%2.
•In 2023, Abbott continued to recapture market share in the U.S. infant formula market. The company has now reclaimed its previous market-leading position, as measured on a volume basis.
•In December, Abbott announced U.S. Food and Drug Administration (FDA) approval of its new laboratory automation system, GLP systems Track™, to help laboratories optimize performance and safety to better meet the growing demand for diagnostic testing.
•In January, Abbott announced that the first-in-human procedures were conducted using the company's new Volt™ Pulsed Field Ablation (PFA) System to treat patients with heart rhythm disorders such as atrial fibrillation (AFib). These procedures were part of Abbott's Volt CE Mark clinical study. Abbott anticipates approval for its U.S. clinical trial (IDE) for the Volt PFA System in the first half of 2024.
•In January, Abbott announced that Tandem Diabetes Care's t:slim X2™3 insulin pump is the first automated insulin delivery system in the U.S. to integrate with Abbott's new FreeStyle Libre® 2 Plus sensor.


"The strength and diversity of the Abbott portfolio drove our success in 2023," said Robert B. Ford, chairman and chief executive officer, Abbott. "We're entering 2024 with a lot of positive momentum, and with our highly productive pipeline, we're well-positioned for growth in 2024 and beyond."
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The following information was filed by Abbott Laboratories (ABT) on Wednesday, January 24, 2024 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Abbott Laboratories's 10-K Annual Report:

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Audit Information
Cover
Consolidated Balance Sheet
Consolidated Balance Sheet (Parenthetical)
Consolidated Statement Of Cash Flows
Consolidated Statement Of Comprehensive Income
Consolidated Statement Of Comprehensive Income (Parenthetical)
Consolidated Statement Of Earnings
Consolidated Statement Of Shareholders' Investment
Consolidated Statement Of Shareholders' Investment (Parenthetical)
Accumulated Other Comprehensive Income (Loss)
Accumulated Other Comprehensive Income (Loss) (Details)
Accumulated Other Comprehensive Income (Loss) (Tables)
Business Acquisitions
Business Acquisitions (Details)
Debt And Lines Of Credit
Debt And Lines Of Credit (Tables)
Debt And Lines Of Credit - Narrative (Details)
Debt And Lines Of Credit - Summary Of Long-Term Debt (Details)
Financial Instruments, Derivatives And Fair Value Measures
Financial Instruments, Derivatives And Fair Value Measures (Tables)
Financial Instruments, Derivatives And Fair Value Measures - Amounts And Location Of Derivative Instruments (Details)
Financial Instruments, Derivatives And Fair Value Measures - Bases Of Measurement (Details)
Financial Instruments, Derivatives And Fair Value Measures - Carrying Value And Fair Value (Details)
Financial Instruments, Derivatives And Fair Value Measures - Narrative (Details)
Financial Instruments, Derivatives And Fair Value Measures - Summary Of Cash Flow Hedges (Details)
Goodwill And Intangible Assets
Goodwill And Intangible Assets (Details)
Incentive Stock Program
Incentive Stock Program (Tables)
Incentive Stock Program - Fair Value Assumptions (Details)
Incentive Stock Program - Narrative (Details)
Incentive Stock Program - Restricted Awards And Units (Details)
Incentive Stock Program - Stock Option Activity (Details)
Leases
Leases (Tables)
Leases - Future Minimum Lease Payments (Details)
Leases - Narrative (Details)
Leases - Operating Leases As Lessee (Details)
Leases - Rou Assets And Lease Liabilities (Details)
Litigation And Environmental Matters
Litigation And Environmental Matters (Details)
New Accounting Standards
Post-Employment Benefits
Post-Employment Benefits (Tables)
Post-Employment Benefits - Assumptions (Details)
Post-Employment Benefits - Funding And Payments (Details)
Post-Employment Benefits - Narrative (Details)
Post-Employment Benefits - Net Periodic Benefit Cost (Details)
Post-Employment Benefits - Plan Assets Measured At Fair Value (Details)
Post-Employment Benefits - Summary Of Accumulated Benefit Obligations, Projected Benefit Obligations, And Plan Assets Where Accumulated Benefit Obligations Exceed Plan Assets (Details)
Post-Employment Benefits - Summary Of Benefit Plans (Details)
Post-Employment Benefits - Summary Of Projected Benefit Obligations And Aggregate Plan Assets For Plans Where Projected Benefit Obligations Exceed Plans Assets (Details)
Restructuring Plans
Restructuring Plans (Tables)
Restructuring Plans - Narrative (Details)
Restructuring Plans - Summary Of Restructuring Activity Related From Streamline Of Operations (Details)
Restructuring Plans - Summary Of Restructuring Activity Related To Covid-19 (Details)
Revenue
Revenue (Tables)
Revenue - Changes In Contract Liabilities (Details)
Revenue - Narrative (Details)
Revenue - Revenue By Sales Category (Details)
Schedule Ii Valuation And Qualifying Accounts
Schedule Ii Valuation And Qualifying Accounts (Details)
Segment And Geographic Area Information
Segment And Geographic Area Information (Tables)
Segment And Geographic Area Information - Depreciation And Assets (Details)
Segment And Geographic Area Information - Geographic Information (Details)
Segment And Geographic Area Information - Narrative (Details)
Segment And Geographic Area Information - Reconciliation Of Assets (Details)
Segment And Geographic Area Information - Reconciliation Of Earnings (Details)
Segment And Geographic Area Information - Sales And Earnings (Details)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (Policies)
Summary Of Significant Accounting Policies (Tables)
Summary Of Significant Accounting Policies - Narrative (Details)
Summary Of Significant Accounting Policies - Property And Equipment (Details)
Supplemental Financial Information
Supplemental Financial Information (Tables)
Supplemental Financial Information - Allowance For Doubtful Accounts (Details)
Supplemental Financial Information - Investments (Details)
Supplemental Financial Information - Narrative (Details)
Supplemental Financial Information - Other Accrued Liabilities (Details)
Supplemental Financial Information - Post-Employment Obligations And Other Long-Term Liabilities (Details)
Taxes On Earnings
Taxes On Earnings (Tables)
Taxes On Earnings - Deferred Tax Assets And Liabilities (Details)
Taxes On Earnings - Earnings And Taxes (Details)
Taxes On Earnings - Narrative (Details)
Taxes On Earnings - Tax Rate Reconciliation (Details)
Taxes On Earnings - Unrecognized Tax Benefits (Details)
Ticker: ABT
CIK: 1800
Form Type: 10-K Annual Report
Accession Number: 0001628280-24-005348
Submitted to the SEC: Fri Feb 16 2024 4:15:58 PM EST
Accepted by the SEC: Fri Feb 16 2024
Period: Sunday, December 31, 2023
Industry: Pharmaceutical Preparations

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