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

Abbott Laboratories

CIK: 1800 Ticker: ABT

 

Exhibit 99.1

 

News Release

 

Abbott Reports Third-Quarter 2021 Results; Achieves Strong Double-Digit Earnings Growth and Raises Guidance

 

-Third-quarter sales growth of 23.4 percent; organic sales growth of 22.4 percent

-GAAP diluted EPS from continuing operations growth of 69.6 percent; adjusted diluted EPS growth of 42.9 percent

-Global COVID-19 testing-related sales were $1.9 billion in the third quarter

-Excluding COVID-19 testing-related sales, third-quarter sales grew 11.7 percent on both a reported and organic basis compared to sales in 2019

-Continues to strengthen portfolio with several new product approvals

 
 

ABBOTT PARK, Ill., Oct. 20, 2021 — Abbott today announced financial results for the third quarter ended Sept. 30, 2021.

·Third-quarter sales of $10.9 billion increased 23.4 percent on a reported basis and 22.4 percent on an organic basis, which excludes the impact of foreign exchange.

·Third-quarter GAAP diluted EPS was $1.17 and adjusted diluted EPS, which excludes specified items, was $1.40, reflecting 42.9 percent growth versus the prior year.1

·Abbott projects full-year 2021 diluted EPS from continuing operations on a GAAP basis of $3.55 to $3.65 and full-year adjusted diluted EPS from continuing operations of $5.00 to $5.10, reflecting growth of 38.4 percent at the mid-point versus prior year.2

·In August, Abbott announced U.S. FDA approval of its Amplatzer® Amulet® device, which offers immediate closure of the left atrial appendage – an area in the heart where blood clots can form.

·In August, Abbott announced results of the company's GUIDE-HF clinical trial, which showed Abbott's CardioMEMS® remote monitoring system can improve care for more patients living with heart failure. Abbott filed a Premarket Approval (PMA) supplement with the FDA for consideration of an expanded indication for CardioMEMS.

·In September, Abbott announced U.S. FDA approval of its Portico® with FlexNav® transcatheter aortic valve replacement (TAVR) system to treat people with symptomatic, severe aortic stenosis who are at high or extreme risk for open-heart surgery.

·During the third quarter, Abbott acquired Walk Vascular, LLC, a commercial-stage medical device company with a minimally invasive thrombectomy system designed to remove peripheral blood clots.

 

"We achieved another quarter of strong growth overall and across all four of our major business areas," said Robert B. Ford, president and chief executive officer, Abbott. "We're particularly pleased with the continued advancements of our new product pipeline, including several recent launches in large, high-growth markets."

 

—more—

 


The following information was filed by Abbott Laboratories (ABT) on Wednesday, October 20, 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) (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
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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

Ticker: ABT
CIK: 1800
Form Type: 10-Q Quarterly Report
Accession Number: 0001104659-21-133629
Submitted to the SEC: Wed Nov 03 2021 4:04:53 PM EST
Accepted by the SEC: Wed Nov 03 2021
Period: Thursday, September 30, 2021
Industry: Pharmaceutical Preparations

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