Abbott Laboratories
ABT · NYSE
Next quarter
Expected to report Jan 21, 2027 — estimated from last year’s reporting date.
Consensus is $1.64 EPS for Dec 2026 across 8 estimates, ranging $1.63 to $1.65.
ABT Sep 2026
- 0.70%
- $1.43
- $1.42
- —
- —
Highlights
- Underlying growth: Third-quarter sales were $13.013 billion, up 14.5% reported and 7.0% on a comparable basis; the reported increase includes the Exact Sciences acquisition.
- Adjusted EPS: Diluted adjusted EPS was $1.42, up 9.2% from $1.30 a year earlier but 1 cent below the $1.43 consensus estimate.
- GAAP charges: GAAP diluted EPS was $0.53 versus $0.94 a year earlier; net earnings fell 44.1% to $920 million, including $670 million of legal settlements among specified items.
- Medical Devices: Sales grew 7.8% on a comparable basis to $5.826 billion, led by Electrophysiology growth of 15.5% and Rhythm Management growth of 10.0%.
- Diagnostics: Comparable sales increased 6.4%; Cancer Diagnostics sales were $968 million and grew 13.8% on a comparable basis, while Exact Sciences added $851 million to reported year-over-year growth.
- Other businesses: Comparable sales rose 8.4% in Established Pharmaceuticals and 4.9% in Nutrition; Nutrition sales also increased $118 million sequentially.
- 2026 outlook: Abbott reaffirmed its full-year adjusted EPS midpoint and narrowed guidance to $5.50–$5.55, with comparable sales growth of approximately 6.0%; fourth-quarter adjusted EPS guidance is $1.62–$1.67.
Analysis
Abbott’s third quarter paired solid underlying growth with a sharp GAAP earnings decline driven by specified charges. Sales of $13.013 billion increased 14.5% year over year, but comparable growth was 7.0% after adjusting for foreign exchange, Exact Sciences and the final Structural Heart compensation payment. Adjusted EPS of $1.42 rose 9.2% from $1.30 a year ago, but missed the $1.43 consensus by 1 cent. GAAP EPS fell to $0.53 from $0.94, and net earnings declined 44.1% to $920 million. Sales were approximately $12.6 billion in Q2, implied by nine-month sales less the reported Q1 and Q3 amounts, so revenue rose roughly 3.3% sequentially.
The core of the print was broad comparable growth across Medical Devices and Established Pharmaceuticals, alongside a still-recovering Nutrition business. Medical Devices grew 7.8%, with double-digit gains in Electrophysiology and Rhythm Management; Diabetes Care continuous glucose monitor sales grew 7.7% on a comparable basis. Diagnostics grew 6.4% comparably, with cancer diagnostics benefiting from Cologuard and Exact Sciences. The reported growth rate was boosted by the acquisition, while legal settlements and higher amortization weighed heavily on GAAP results. Abbott held its full-year adjusted EPS midpoint and tightened its range to $5.50–$5.55, while forecasting approximately 6.0% comparable sales growth.
Adjusted and GAAP earnings
Adjusted earnings advanced, but the gap between adjusted and GAAP results widened as specified items rose substantially. Abbott reported $1.42 of adjusted diluted EPS, compared with $1.30 in Q3 2025, against consensus of $1.43. GAAP diluted EPS was $0.53, down from $0.94.
- Net earnings were $920 million, down 44.1% from $1.644 billion; operating earnings fell 34.0% to $1.358 billion.
- Specified items reduced EPS by $0.89. They included $841 million of intangible amortization and approximately $670 million related to agreements resolving the Gill case and additional NEC claims.
- Interest expense was $297 million, versus $44 million a year earlier. Adjusted net earnings rose 8.7% to $2.477 billion.
Medical Devices
Medical Devices remained a major source of underlying growth: comparable sales rose 7.8% to $5.826 billion, with growth across several product areas. Reported growth was 6.9%; the comparable measure also adjusts for foreign exchange and the final payment under a multi-year Structural Heart agreement.
- Electrophysiology sales grew 15.5% comparably and Rhythm Management grew 10.0%; Heart Failure increased 6.0%.
- Diabetes Care sales were $2.185 billion, up 6.7% comparably. Continuous glucose monitor sales grew 7.7% on a comparable basis.
- Structural Heart sales grew 6.9% comparably. U.S. sales declined 2.3%, while international sales increased 13.5%.
Diagnostics and Exact Sciences
Diagnostics reported 46.7% sales growth, but that headline includes Exact Sciences, acquired on March 23, 2026. Comparable Diagnostics growth was 6.4%, a better indicator of underlying performance; Exact contributed $851 million to the reported year-over-year comparison.
- Cancer Diagnostics sales were $968 million, with comparable growth of 13.8%, supported by Cologuard as well as precision oncology and international businesses.
- Core Laboratory Diagnostics sales were $1.438 billion, up 5.4% comparably, with growth across major regions.
- Rapid and Molecular Diagnostics sales were $899 million, up 0.9% comparably.
Nutrition and pharmaceuticals
Established Pharmaceuticals continued to grow at a healthy pace, while Nutrition’s positive quarter followed declines over the first nine months. The two businesses together contributed growth across both developed and emerging markets.
- Established Pharmaceuticals sales increased 8.4% comparably to $1.614 billion. Key Emerging Markets grew 10.9%, led by India and several Latin American and Asia-Pacific markets.
- Nutrition sales rose 4.9% comparably to $2.262 billion. Pediatric sales grew 8.7%, while Adult Nutrition grew 1.8%.
- Nutrition sales increased $118 million sequentially from Q2; despite the quarter’s growth, comparable sales for the first nine months were down 2.1%.
Guidance and launches
Abbott maintained the midpoint of its full-year adjusted EPS outlook and narrowed the range. Its full-year comparable sales forecast is approximately 6.0%, versus 5.2% comparable growth for the first nine months.
- Full-year 2026 adjusted diluted EPS guidance is $5.50–$5.55; Q4 guidance is $1.62–$1.67.
- Recent launches and approvals include FDA approval of Libre Duo, a glucose-ketone sensor; FDA approval of the TactiFlex Duo ablation catheter; CE Mark for the Amulet 360 occluder; and FDA approval of the SimpleScreen CRC blood-based screening test.
