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Abbott Laboratories (ABT) SEC Filing 10-Q Quarterly Report for the period ending Wednesday, June 30, 2021

Abbott Laboratories

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CIK: 1800 Ticker: ABT

 

Exhibit 99.1

 

Adobe Systems News Release

 

Abbott Reports Second-Quarter 2021 Results

 

-Sales growth of 39.5 percent; organic sales growth of 35.0 percent
-GAAP diluted EPS from continuing operations growth of 120.0 percent; adjusted diluted EPS growth of 105.3 percent
-Second-quarter sales, excluding COVID-19 testing-related sales, grew 12.3 percent on a reported basis and 11.3 percent on an organic basis compared to sales in 2019
-Achieved strong sales growth across all four major business areas
-Full-year forecast continues to reflect strong, double-digit EPS growth on both a GAAP and adjusted basis

 

 

ABBOTT PARK, Ill., July 22, 2021 — Abbott today announced financial results for the second quarter ended June 30, 2021.

 

·Second-quarter sales of $10.2 billion increased 39.5 percent on a reported basis and 35.0 percent on an organic basis, which excludes the impact of foreign exchange.
·Second-quarter GAAP diluted EPS was $0.66 and adjusted diluted EPS, which excludes specified items, was $1.17, reflecting 105.3 percent growth versus the prior year.1
·Abbott continues to project full-year 2021 diluted EPS from continuing operations on a GAAP basis of $2.75 to $2.95 and full-year adjusted diluted EPS from continuing operations of $4.30 to $4.50, reflecting strong, double-digit growth versus the prior year.
·Diagnostics sales increased 62.8 percent on a reported basis and 57.2 percent on an organic basis in the second quarter. Global COVID-19 testing-related sales were $1.3 billion in the second quarter.
·Nutrition sales increased 11.9 percent on a reported basis and 9.5 percent on an organic basis in the second quarter. Sales performance was led by double-digit growth in Adult Nutrition globally.
·Established Pharmaceuticals sales increased 16.4 percent on a reported basis and 14.5 percent on an organic basis in the second quarter. Sales performance was led by double-digit growth in several countries, including India, China, Russia, and several countries across Latin America.
·Medical Devices sales increased 51.3 percent on a reported basis and 45.1 percent on an organic basis in the second quarter. Compared to pre-pandemic sales in 2019, Medical Devices sales increased 19.2 percent on a reported basis and 15.6 percent on an organic basis in the second quarter, led by double-digit growth in Electrophysiology, Heart Failure, Structural Heart and Diabetes Care.2

 

"We're achieving very strong growth across our portfolio," said Robert B. Ford, president and chief executive officer, Abbott. "Perhaps most impressively, excluding COVID testing-related sales, our sales grew more than 11 percent on an organic basis compared to pre-pandemic levels in the second quarter of 2019, which demonstrates the fundamental strength of our performance."

 

—more—

 

The following information was filed by Abbott Laboratories (ABT) on Thursday, July 22, 2021 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-Q Quarterly 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-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Document And Entity Information
Condensed Consolidated Balance Sheet
Condensed Consolidated Balance Sheet (Parenthetical)
Condensed Consolidated Statement Of Cash Flows
Condensed Consolidated Statement Of Comprehensive Income
Condensed Consolidated Statement Of Comprehensive Income (Parenthetical)
Condensed Consolidated Statement Of Earnings
Condensed Consolidated Statement Of Shareholders' Investment
Condensed Consolidated Statement Of Shareholders' Investment (Parenthetical)
Basis Of Presentation
Changes In Accumulated Other Comprehensive Income (Loss)
Changes In Accumulated Other Comprehensive Income (Loss) (Details)
Changes In Accumulated Other Comprehensive Income (Loss) (Loss) (Tables)
Debt And Lines Of Credit
Debt And Lines Of Credit (Details)
Financial Instruments, Derivatives And Fair Value Measures
Financial Instruments, Derivatives And Fair Value Measures (Tables)
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 - Contracts (Details)
Financial Instruments, Derivatives And Fair Value Measures - Gain Or Loss (Details)
Financial Instruments, Derivatives And Fair Value Measures - Location Of Derivative Instruments (Details)
Goodwill And Intangible Assets
Goodwill And Intangible Assets - Goodwill (Details)
Goodwill And Intangible Assets - Intangible Assets (Details)
Incentive Stock Programs
Incentive Stock Programs (Tables)
Incentive Stock Programs - General (Details)
Incentive Stock Programs - Options (Details)
Litigation And Environmental Matters
Litigation And Environmental Matters (Details)
New Accounting Standards
New Accounting Standards (Policies)
Post-Employment Benefits
Post-Employment Benefits (Tables)
Post-Employment Benefits - (Details)
Restructuring Plans
Restructuring Plans (Tables)
Restructuring Plans - Diagnostic Products Segment (Details)
Restructuring Plans - St Jude And Alere Integrations (Details)
Restructuring Plans - Streamline Of Operations And Improve Efficiencies (Details)
Revenue
Revenue (Details)
Revenue (Tables)
Revenue - Other Contract Assets And Liabilities (Details)
Revenue - Practical Expedient (Details)
Revenue - Remaining Performance Obligations (Details)
Segment Information
Segment Information (Details)
Segment Information (Tables)
Supplemental Financial Information
Supplemental Financial Information (Tables)
Supplemental Financial Information - Allowance For Doubtful Accounts (Details)
Supplemental Financial Information - Cash Flows (Details)
Supplemental Financial Information - Income Statement (Details)
Supplemental Financial Information - Investments (Details)
Taxes On Earnings
Taxes On Earnings (Details)

Material Contracts, Statements, Certifications & more

Abbott Laboratories provided additional information to their SEC Filing as exhibits

Exhibit 31.1: Rule 13A-14(A)/15D-14(A) Certification
Exhibit 31.2: Rule 13A-14(A)/15D-14(A) Certification
Exhibit 32.1: Section 1350 Certification
Exhibit 32.2: Section 1350 Certification
Ticker: ABT
CIK: 1800
Form Type: 10-Q Quarterly Report
Accession Number: 0001104659-21-100055
Submitted to the SEC: Wed Aug 04 2021 4:01:33 PM EST
Accepted by the SEC: Wed Aug 04 2021
Period: Wednesday, June 30, 2021
Industry: Pharmaceutical Preparations

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