IN ADJUSTED EPS
2022 EPS GUIDANCE
AT LEAST $4.904
In adjusted diluted EPS
FDA clearance for FreeStyle Libre®** 3 continuous glucose monitoring system
Automatically displays up-to-the-minute glucose readings, unsurpassed 14-day accuracy† and real-time glucose alarms in the world’s smallest and thinnest†† on-body sensor
FDA Breakthrough Device Designation to explore use of deep brain stimulation (DBS) to manage severe depression
Expands potential for Abbott’s DBS system currently used to help control symptoms for people with movement disorders
BUSINESS UNIT SALES
BUILDING A SUSTAINABLE FUTURE
2021 Global Sustainability Report demonstrates progress toward ambitious goals in 2030 Sustainability Plan
New design principles will embed access and affordability into product development and portfolio
*Organic sales growth excludes impact of foreign exchange. For full financial data and reconciliation of non-GAAP measures, please see our press release dated July 20, 2022, available at www.abbottinvestor.com. **Find important safety information about the FreeStyle Libre portfolio: www.freestylelibre.us/safety-information.
† Data on file, Abbott Diabetes Care. Comparison based on publicly available information. †† Among patient-applied sensors. Data on file, Abbott Diabetes Care.
1. On a GAAP basis, second-quarter Abbott sales increased 10.1%. 2. Second-quarter GAAP diluted EPS was $1.14. 3. On a GAAP basis, diluted EPS from continuing operations reflects growth of 72.7%. 4. Abbott is raising its projected full-year 2022 diluted earnings per share under GAAP to at least $3.50.
Abbott forecasts specified items for the full-year 2022 of $1.40 per share primarily related to intangible amortization, costs related to a voluntary recall, expenses associated with acquisitions, restructurings and cost reduction initiatives and other net expenses. Excluding specified items, Abbott is raising its projected adjusted diluted earnings per share to at least $4.90 for the full-year 2022.
Some statements in this news release may be forward-looking statements for purposes of the Private Securities Litigation Reform Act of 1995. Abbott cautions that these forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those indicated in the forward-looking statements. Economic, competitive, governmental, technological and other factors that may affect Abbott’s operations are discussed in Item 1A, “Risk Factors” in our Annual Report on Form 10-K for the year ended Dec. 31, 2021, and are incorporated herein by reference. Abbott undertakes no obligation to release publicly any revisions to forward-looking statements as a result of subsequent events or developments, except as required by law.
Abbott Laboratories published this content on 20 July 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 20 July 2022 12:13:06 UTC.