Abbott Laboratories Earnings: Here’s Why Investors are Selling Shares Now
Abbott Laboratories (NYSE:ABT) delivered a profit and beat Wall Street’s expectations, BUT came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are down 0.56%.
Abbott Laboratories Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 6.98% to $0.46 in the quarter versus EPS of $0.43 in the year-earlier quarter.
Revenue: Decreased 44.47% to $5.45 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Abbott Laboratories reported adjusted EPS income of $0.46 per share. By that measure, the company beat the mean analyst estimate of $0.44. It missed the average revenue estimate of $5.52 billion.
Quoting Management: “All things considered, including headwinds from foreign exchange and a mixed global economy, this was a good quarter,” said Miles D. White, chairman and chief executive officer, Abbott.
Key Stats (on next page)…
Revenue increased 1.27% from $5.38 billion in the previous quarter. EPS increased 9.52% from $0.42 in the previous quarter.
Looking Forward: Analysts have a neutral outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings is a profit of $0.53 and has not changed. For the current year, the average estimate has moved down from a profit of $2.02 to a profit of $2.01 over the last ninety days.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)