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Abbott Laboratories (ABT) SEC Filing 10-Q Quarterly Report for the period ending Friday, September 30, 2022

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ABT Quarterly Reports

Abbott Laboratories

CIK: 1800 Ticker: ABT

Exhibit 99.1
imagea.jpg
  News Release
Abbott Reports Third-Quarter 2022 Results and Raises
Full-Year EPS Guidance

Worldwide sales of $10.4 billion in the third quarter
Raises full-year earnings-per-share guidance
Continues to strengthen portfolio with new product approvals and launches
ABBOTT PARK, Ill., Oct. 19, 2022 — Abbott today announced financial results for the third quarter ended Sept. 30, 2022.

Third-quarter sales of $10.4 billion decreased 4.7 percent on a reported basis and increased 1.3 percent on an organic basis, which excludes the impact of foreign exchange.
GAAP diluted EPS1 was $0.81 in the third quarter. Excluding specified items, adjusted diluted EPS was $1.15.
Abbott is raising its full-year 2022 EPS guidance. Abbott projects full-year diluted EPS on a GAAP basis of $3.75 to $3.81 and projects adjusted diluted EPS of $5.17 to $5.23.
Full-year 2022 guidance assumes COVID-19 testing-related sales of $7.8 billion, which includes sales of $7.3 billion through September 2022 and projected sales of $0.5 billion in the fourth quarter.
U.S. Medical Devices sales grew 11.3 percent in the third quarter, led by strong double-digit growth in Electrophysiology, Structural Heart and Diabetes Care.
In September, Abbott presented new data showing its FreeStyle Libre® continuous glucose monitoring system helped reduce acute diabetes-related events, leading to a 67 percent decrease in hospitalizations in people with Type 2 diabetes on once-daily (basal) insulin therapy.2
During the quarter, Abbott launched its latest-generation FreeStyle Libre 3 system in the U.S., which automatically delivers up-to-the-minute glucose readings and unsurpassed 14-day accuracy3 in the world's smallest and thinnest3 wearable sensor.
During the quarter, following a manufacturing stoppage earlier this year, Abbott restarted production of Similac® as well as EleCare® and metabolic infant formulas at its Sturgis, Michigan, facility.

"Our results and increased guidance in the current macroeconomic environment reflect the strength of our diversified business model and execution," said Robert B. Ford, chairman and chief executive officer, Abbott. "We're particularly pleased with improving sales growth rates in U.S. Medical Devices, which is being fueled by several recent product launches, as well as continued strong performance in Established Pharmaceuticals."
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The following information was filed by Abbott Laboratories (ABT) on Wednesday, October 19, 2022 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

Cover
Condensed Consolidated Balance Sheet (Unaudited)
Condensed Consolidated Balance Sheet (Unaudited) (Parenthetical)
Condensed Consolidated Statement Of Cash Flows (Unaudited)
Condensed Consolidated Statement Of Comprehensive Income (Unaudited)
Condensed Consolidated Statement Of Comprehensive Income (Unaudited) (Parenthetical)
Condensed Consolidated Statement Of Earnings (Unaudited)
Condensed Consolidated Statement Of Shareholders' Investment (Unaudited)
Condensed Consolidated Statement Of Shareholders' Investment (Unaudited) (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 (Details)
Incentive Stock Program
Incentive Stock Program (Tables)
Incentive Stock Program - Narrative (Details)
Incentive Stock Program - Options (Details)
Litigation And Environmental Matters
Litigation And Environmental Matters (Details)
Post-Employment Benefits
Post-Employment Benefits (Details)
Post-Employment Benefits (Tables)
Post-Employment Benefits - Narrative (Details)
Restructuring Plans
Restructuring Plans (Tables)
Restructuring Plans - Narrative (Details)
Restructuring Plans - Streamline Of Operations And Improve Efficiencies (Details)
Revenue
Revenue (Tables)
Revenue - Narrative (Details)
Revenue - Other Contract Assets And Liabilities (Details)
Revenue - Segments (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 - Investments (Details)
Supplemental Financial Information - Narrative (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: 0001628280-22-027550
Submitted to the SEC: Tue Nov 01 2022 4:06:19 PM EST
Accepted by the SEC: Tue Nov 01 2022
Period: Friday, September 30, 2022
Industry: Pharmaceutical Preparations

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