TOTAL COMPANY |
$10.9B +22%1 |
THIRD-QUARTER
2021 RESULTS
BUSINESS HIGHLIGHTS
BASE BUSINESS STRENGTH
ON AN ORGANIC BASIS*
SALES WORLDWIDE | ON AN | |||
ORGANIC BASIS* | ||||
$1.40 | REFLECTS | |||
43%3 | ||||
ADJUSTED | GROWTH VERSUS | |||
DILUTED EPS2 | PRIOR YEAR |
12%7
16%8
13%9
Abbott sales growth, excluding COVID-19 testing compared to 2019
growth in Medical Devices compared to 2019, with double-digit growth in Electrophysiology, Heart Failure, Structural Heart and Diabetes Care
growth in Diagnostics year over year, excluding COVID-19 testing
RAISED FULL-YEAR 2021 EPS GUIDANCE
$5.00to$5.10 | REFLECTS |
38%5 | |
IN ADJUSTED DILUTED EPS4 | GROWTH VERSUS |
PRIOR YEAR |
KEY BUSINESS UNITS6
ON AN ORGANIC BASIS*
+46.8% | +13.1% |
DIAGNOSTICS | MEDICAL DEVICES |
+8.9% | +15.3% |
NUTRITION | ESTABLISHED |
PHARMACEUTICALS |
ADVANCES IN | CardioMEMS |
D I AG N O S T I C S | |
HEART DEVICES |
FDA approval for Amplatzer® Amulet® Left Atrial Appendage Occluder and Portico® with FlexNav® transcatheter aortic valve replacement (TAVR) system
Announced new data to support an expanded indication for CardioMEMS® HFSystem
FREESTYLE LIBRE LEADERSHIP
39% growth on an organic basis10
FDA clearance for FreeStyle Libre® 2† iOS app for use with compatible iPhones11
World's leading12 continuous glucose monitoring system provides nearly
3.5 million users with breakthrough technology that is accessible and affordable
*Organic sales growth excludes impact of foreign exchange. For full financial data and reconciliation of non-GAAP measures, please see our press release dated Oct. 20, 2021, available at www.abbottinvestor.com. 1. On a GAAP basis, third-quarter Abbott sales increased 23%. 2. Third-quarter GAAP diluted EPS was $1.17. 3. Third-quarter diluted EPS from continuing operations on a GAAP basis reflects 70% growth. 4. Abbott projects 2021 diluted earnings per share from continuing operations under GAAP of $3.55 to $3.65. Abbott forecasts specified items for the full-year 2021 of $1.45 per share primarily related to intangible amortization, restructuring and cost reduction initiatives, including expenses to align its COVID-19testing-related business with changes during the year in current and projected testing demand, expenses associated with acquisitions and other net expenses. Excluding specified items, projected adjusted diluted earnings per share from continuing operations would be $5.00 to $5.10 for full-year 2021. 5. Full-year 2021 guidance for diluted EPS from continuing operations on a GAAP basis reflects growth of 45% at the mid-point versus the prior year. 6. On a GAAP basis, Diagnostics sales increased 48.2%; Medical Devices sales increased 14.6%; Nutrition sales increased 9.6%; Established Pharmaceuticals sales increased 15.1%. 7. On a GAAP basis, third-quarter Abbott sales, excluding COVID-19testing-related sales, increased 12% compared to sales in 2019. 8. On a GAAP basis, third-quarter sales for Medical Devices increased 19% compared to sales in 2019. 9. On a GAAP basis, third-quarter sales, for Diagnostics, excluding COVID-19testing-related sales, increased 14%. 10. On a GAAP basis, FreeStyle Libre and Libre Sense increased 42%. 11. The FreeStyle Libre 2 app is only compatible with certain mobile devices and operating systems. Please check our website for more information about device compatibility before using the app. Use of the FreeStyle Libre 2 app requires registration with LibreView. 12. Data on file, Abbott Diabetes Care. Data based on the number of users worldwide for the FreeStyle Libre system compared to the number of users for other leading personal use, sensor-based glucose monitoring systems. †Find important safety information about the FreeStyle Libre portfolio: www.freestylelibre.us/safety-information.
FORWARD-LOOKING STATEMENTS
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, 2020, 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.
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Abbott Laboratories published this content on 20 October 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 20 October 2021 11:50:02 UTC.