Healthcare product and device company Abbott Laboratories (NYSE:ABT) will be reporting earnings this Wednesday morning. Here’s what investors should know.
Abbott Laboratories beat analysts’ revenue expectations by 0.9% last quarter, reporting revenues of $11.14 billion, up 7.4% year on year. It was a slower quarter for the company, with a significant miss of analysts’ EPS guidance for next quarter estimates and organic revenue in line with analysts’ estimates.
Is Abbott Laboratories a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, analysts are expecting Abbott Laboratories’s revenue to grow 7.2% year on year to $11.4 billion, improving from the 4.9% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.30 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Abbott Laboratories has missed Wall Street’s revenue estimates three times over the last two years.
Looking at Abbott Laboratories’s peers in the healthcare equipment and supplies segment, only Neogen has reported results so far. It beat analysts’ revenue estimates by 2.6%, posting year-on-year sales declines of 3.6%. The stock traded up 3.7% on the results.
Read our full analysis of Neogen’s earnings results here.Investors in the healthcare equipment and supplies segment have had steady hands going into earnings, with share prices up 1.4% on average over the last month. Abbott Laboratories’s stock price was unchanged during the same time and is heading into earnings with an average analyst price target of $143.12 (compared to the current share price of $131.40).
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