Abbott Reports Second-Quarter 2025 Results
Abbott (NYSE: ABT) reported strong second-quarter 2025 results with reported sales growth of 7.4% and organic sales growth of 7.5% excluding COVID-19 testing. The company achieved GAAP diluted EPS of $1.01 and adjusted diluted EPS of $1.26, reflecting double-digit growth year-over-year.
Key financial metrics include improved margins, with reported gross margin at 52.7% and adjusted gross margin at 57.0%, representing a 100 basis point increase. The company projects full-year 2025 organic sales growth of 7.5-8.0% excluding COVID-19 testing and adjusted diluted EPS of $5.10-$5.20.
Notable developments include FDA approval of the Tendyne™ TMVR system, completion of enrollment in the FlexPulse U.S. IDE trial, and plans for a new cardiovascular device manufacturing facility in Georgia by 2028. The company also declared its 406th consecutive quarterly dividend of $0.59 per share.
Abbott (NYSE: ABT) ha riportato risultati solidi per il secondo trimestre del 2025 con una crescita delle vendite segnalata del 7,4% e una crescita organica delle vendite del 7,5% escludendo i test COVID-19. L'azienda ha registrato un utile diluito GAAP per azione di 1,01$ e un utile diluito rettificato per azione di 1,26$, mostrando una crescita a doppia cifra rispetto all'anno precedente.
I principali indicatori finanziari evidenziano margini migliorati, con un margine lordo segnalato del 52,7% e un margine lordo rettificato del 57,0%, con un aumento di 100 punti base. L'azienda prevede una crescita organica delle vendite per l'intero anno 2025 compresa tra il 7,5% e l'8,0% escludendo i test COVID-19 e un utile diluito rettificato per azione tra 5,10$ e 5,20$.
Tra gli sviluppi più rilevanti figurano l'approvazione FDA del sistema Tendyne™ TMVR, il completamento dell'arruolamento nello studio FlexPulse U.S. IDE e i piani per una nuova struttura di produzione di dispositivi cardiovascolari in Georgia entro il 2028. L'azienda ha inoltre dichiarato il 406° dividendo trimestrale consecutivo di 0,59$ per azione.
Abbott (NYSE: ABT) reportó sólidos resultados en el segundo trimestre de 2025 con un crecimiento reportado de ventas del 7,4% y un crecimiento orgánico de ventas del 7,5% excluyendo las pruebas de COVID-19. La compañía alcanzó un EPS diluido GAAP de 1,01$ y un EPS diluido ajustado de 1,26$, reflejando un crecimiento de dos dígitos interanual.
Los principales indicadores financieros incluyen márgenes mejorados, con un margen bruto reportado del 52,7% y un margen bruto ajustado del 57,0%, representando un aumento de 100 puntos básicos. La empresa proyecta un crecimiento orgánico de ventas para todo el año 2025 entre 7,5% y 8,0% excluyendo las pruebas de COVID-19 y un EPS diluido ajustado de 5,10$ a 5,20$.
Entre los desarrollos destacados están la aprobación de la FDA del sistema Tendyne™ TMVR, la finalización de la inscripción en el ensayo FlexPulse U.S. IDE y los planes para una nueva planta de fabricación de dispositivos cardiovasculares en Georgia para 2028. La compañía también declaró su 406º dividendo trimestral consecutivo de 0,59$ por acción.
Abbott (NYSE: ABT)는 2025년 2분기에 7.4%의 보고된 매출 성장과 COVID-19 검사 제외 시 7.5%의 유기적 매출 성장을 기록하며 강력한 실적을 발표했습니다. 회사는 GAAP 희석 주당순이익(EPS) 1.01달러 및 조정 희석 EPS 1.26달러를 달성하며 전년 대비 두 자릿수 성장을 나타냈습니다.
주요 재무 지표로는 보고된 총이익률 52.7%와 조정 총이익률 57.0%로 100베이시스 포인트 상승한 마진 개선이 포함됩니다. 회사는 COVID-19 검사 제외 시 2025년 전체 유기적 매출 성장률을 7.5~8.0%로 예상하며, 조정 희석 EPS는 5.10~5.20달러로 전망하고 있습니다.
주요 발전 사항으로는 Tendyne™ TMVR 시스템의 FDA 승인, FlexPulse 미국 IDE 시험 등록 완료, 2028년까지 조지아에 새로운 심혈관 기기 제조 시설 건립 계획이 포함됩니다. 또한 회사는 406번째 연속 분기 배당금으로 주당 0.59달러를 선언했습니다.
Abbott (NYSE: ABT) a publié de solides résultats pour le deuxième trimestre 2025 avec une croissance des ventes déclarée de 7,4% et une croissance organique des ventes de 7,5% hors tests COVID-19. La société a enregistré un BPA dilué GAAP de 1,01$ et un BPA dilué ajusté de 1,26$, reflétant une croissance à deux chiffres d'une année sur l'autre.
Les principaux indicateurs financiers incluent des marges améliorées, avec une marge brute déclarée de 52,7% et une marge brute ajustée de 57,0%, soit une augmentation de 100 points de base. La société prévoit une croissance organique des ventes pour l'année complète 2025 entre 7,5% et 8,0% hors tests COVID-19 et un BPA dilué ajusté entre 5,10$ et 5,20$.
Parmi les développements notables figurent l'approbation par la FDA du système Tendyne™ TMVR, la fin du recrutement dans l'essai FlexPulse U.S. IDE, ainsi que des plans pour une nouvelle usine de fabrication de dispositifs cardiovasculaires en Géorgie d'ici 2028. La société a également déclaré son 406e dividende trimestriel consécutif de 0,59$ par action.
Abbott (NYSE: ABT) meldete starke Ergebnisse für das zweite Quartal 2025 mit einem berichteten Umsatzwachstum von 7,4% und einem organischen Umsatzwachstum von 7,5% ohne COVID-19-Tests. Das Unternehmen erzielte ein GAAP verwässertes Ergebnis je Aktie (EPS) von 1,01$ sowie ein bereinigtes verwässertes EPS von 1,26$, was ein zweistelliges Wachstum im Jahresvergleich darstellt.
Wichtige finanzielle Kennzahlen umfassen verbesserte Margen, mit einer berichteten Bruttomarge von 52,7% und einer bereinigten Bruttomarge von 57,0%, was einer Steigerung um 100 Basispunkte entspricht. Das Unternehmen prognostiziert ein organisches Umsatzwachstum für das Gesamtjahr 2025 von 7,5-8,0% ohne COVID-19-Tests sowie ein bereinigtes verwässertes EPS von 5,10$ bis 5,20$.
Bemerkenswerte Entwicklungen sind die FDA-Zulassung des Tendyne™ TMVR-Systems, der Abschluss der Einschreibung in die FlexPulse U.S. IDE-Studie und Pläne für eine neue Produktionsstätte für kardiovaskuläre Geräte in Georgia bis 2028. Das Unternehmen erklärte außerdem seine 406. aufeinanderfolgende Quartalsdividende von 0,59$ pro Aktie.
- Double-digit EPS growth with adjusted diluted EPS of $1.26
- Gross margin improved by 100 basis points to 57.0% (adjusted)
- Operating margin increased by 100 basis points to 22.9% (adjusted)
- Medical Devices segment showed strong 13.4% reported growth
- Diabetes Care sales grew 20.2% with FreeStyle Libre reaching $1.9B in sales
- FDA approval received for first-of-its-kind Tendyne™ TMVR system
- COVID-19 testing sales declined to $55M from $102M in Q2 2024
- Diagnostics segment reported 1.0% sales decrease
- Impact from volume-based procurement programs in China affecting Core Laboratory Diagnostics
Insights
Abbott delivered strong Q2 results with 7.4% sales growth, expanding margins, and raised its full-year outlook.
Abbott reported impressive second-quarter results with
The company's profitability metrics showed notable improvement with adjusted gross margin expanding 100 basis points to
Looking at segment performance, Medical Devices was the standout with
The Nutrition business grew
Management has raised its full-year 2025 outlook, now projecting organic sales growth excluding COVID-19 testing of
- Second-quarter reported sales growth of 7.4 percent; organic sales growth of 6.9 percent or 7.5 percent excluding COVID-19 testing-related sales1
- Second-quarter GAAP diluted EPS of
$1.01 $1.26 - Reported gross margin of 52.7 percent of sales; adjusted gross margin of 57.0 percent, which reflects a 100 basis point increase
- Reported operating margin of 18.4 percent of sales; adjusted operating margin of 22.9 percent, which reflects a 100 basis point increase
ABBOTT PARK, Ill., July 17, 2025 /PRNewswire/ -- Abbott (NYSE: ABT) today announced financial results for the second quarter ended June 30, 2025.
- Second-quarter sales increased 7.4 percent on a reported basis, 6.9 percent on an organic basis, or 7.5 percent when excluding COVID-19 testing-related sales1.
- Second-quarter GAAP diluted EPS of
$1.01 $1.26 - First-half sales increased 5.7 percent on a reported basis, 6.9 percent on an organic basis, or 7.9 percent when excluding COVID-19 testing-related sales2.
- Abbott projects full-year 2025 organic sales growth, excluding COVID-19 testing-related sales, to be
7.5% to8.0% , or6.0% to7.0% when including COVID-19 testing-related sales. - Abbott projects full-year 2025 adjusted diluted EPS of
$5.10 $5.20 - In April, Abbott completed enrollment ahead of schedule in its FlexPulse
U.S. IDE trial, which is designed to evaluate the TactiFlex™ Duo Pulsed Field Ablation (PFA) System for treating patients with heart rhythm disorders such as atrial fibrillation (AFib). - In April, Abbott announced late-breaking data from the AVEIR™ Conduction System Pacing (CSP) clinical feasibility study. This study was the world's first assessment of a leadless pacemaker delivering conduction pacing, which produces pacing that closely mimics the heart's natural electrical rhythm and represents a new treatment option for people with irregular heart rhythms.
- In May, Abbott announced
U.S. Food and Drug Administration (FDA) approval of the company's Tendyne™ transcatheter mitral valve replacement (TMVR) system, a first-of-its-kind device to help treat people with mitral valve disease. - Abbott has initiated plans to develop a new cardiovascular device manufacturing facility in the state of
Georgia to be completed by 2028.
"Halfway through the year, we delivered high single-digit organic sales growth, double-digit EPS growth, significantly expanded our margin profiles, and continued to advance key programs through our new product pipeline," said Robert B. Ford, chairman and chief executive officer, Abbott. "We see this momentum carrying into 2026."
SECOND-QUARTER BUSINESS OVERVIEW
Management believes that measuring sales growth rates on an organic basis, which excludes the impact of foreign exchange and the impact of discontinuing the ZonePerfect® product line in the Nutrition business, is an appropriate way for investors to best understand the core underlying performance of the business. Management further believes that measuring sales growth rates on an organic basis excluding COVID-19 tests is an appropriate way for investors to best understand the underlying performance of the company as the demand for COVID-19 tests has significantly declined following the transition from a pandemic to endemic phase.
Note: In order to compute results excluding the impact of exchange rates, current year
Second Quarter 2025 Results (2Q25) | |||||||||
Sales 2Q25 ($ in millions) | Total Company | Nutrition | Diagnostics | Established | Medical Devices | ||||
4,276 | 957 | 811 | — | 2,503 | |||||
International | 6,866 | 1,255 | 1,362 | 1,383 | 2,866 | ||||
Total reported | 11,142 | 2,212 | 2,173 | 1,383 | 5,369 | ||||
% Change vs. 2Q24 | |||||||||
8.7 | 2.6 | (0.1) | n/a | 14.6 | |||||
International | 6.6 | 3.1 | (1.5) | 6.9 | 12.4 | ||||
Total reported | 7.4 | 2.9 | (1.0) | 6.9 | 13.4 | ||||
Impact of foreign exchange | 0.5 | (0.5) | 0.4 | (0.8) | 1.2 | ||||
Organic | 6.9 | 3.4 | (1.4) | 7.7 | 12.2 | ||||
Impact of COVID-19 testing sales 1 | (0.6) | — | (2.2) | — | — | ||||
Organic (excluding COVID-19 tests) | 7.5 | 3.4 | 0.8 | 7.7 | 12.2 | ||||
Organic | |||||||||
| 8.7 | 2.6 | (0.1) | n/a | 14.6 | ||||
International | 5.8 | 4.0 | (2.2) | 7.7 | 10.1 | ||||
First Half 2025 Results (1H25) | |||||||||
Sales 1H25 ($ in millions) | Total Company | Nutrition | Diagnostics | Established | Medical Devices | ||||
8,444 | 1,912 | 1,682 | — | 4,842 | |||||
International | 13,056 | 2,446 | 2,545 | 2,643 | 5,422 | ||||
Total reported | 21,500 | 4,358 | 4,227 | 2,643 | 10,264 | ||||
% Change vs. 1H24 | |||||||||
8.5 | 5.6 | (3.5) | n/a | 14.8 | |||||
International | 3.9 | 1.6 | (4.5) | 4.9 | 9.1 | ||||
Total reported | 5.7 | 3.3 | (4.1) | 4.9 | 11.7 | ||||
Impact of foreign exchange | (1.1) | (1.5) | (0.9) | (2.9) | (0.7) | ||||
Impact of business exit* | (0.1) | (0.3) | — | — | — | ||||
Organic | 6.9 | 5.1 | (3.2) | 7.8 | 12.4 | ||||
Impact of COVID-19 testing sales 2 | (1.0) | — | (3.9) | — | — | ||||
Organic (excluding COVID-19 tests) | 7.9 | 5.1 | 0.7 | 7.8 | 12.4 | ||||
Organic | |||||||||
| 8.7 | 6.4 | (3.5) | n/a | 14.8 | ||||
International | 5.8 | 4.1 | (3.0) | 7.8 | 10.3 | ||||
Refer to table titled "Non-GAAP Revenue Reconciliation" for a reconciliation of adjusted historical revenue to reported revenue.
*Reflects the impact of discontinuing the ZonePerfect® product line in the Nutrition business in March 2024. |
Nutrition | |||||
Second Quarter 2025 Results (2Q25) | |||||
Sales 2Q25 ($ in millions) | Total | Pediatric | Adult | ||
957 | 587 | 370 | |||
International | 1,255 | 467 | 788 | ||
Total reported | 2,212 | 1,054 | 1,158 | ||
% Change vs. 2Q24 | |||||
2.6 | 4.2 | 0.2 | |||
International | 3.1 | (5.7) | 9.2 | ||
Total reported | 2.9 | (0.4) | 6.1 | ||
Impact of foreign exchange | (0.5) | (0.6) | (0.5) | ||
Organic | 3.4 | 0.2 | 6.6 | ||
| 2.6 | 4.2 | 0.2 | ||
International | 4.0 | (4.5) | 9.8 | ||
Worldwide Nutrition sales increased 2.9 percent on a reported basis and 3.4 percent on an organic basis in the second quarter.
Growth in the quarter was led by Adult Nutrition, where global sales increased 6.1 percent on a reported basis and 6.6 percent on an organic basis, led by strong growth of Ensure®, Abbott's market-leading complete and balanced nutrition brand, and Glucerna®, Abbott's market-leading brand of products designed to meet the nutritional requirements for people with diabetes.
First Half 2025 Results (1H25) | |||||
Sales 1H25 ($ in millions) | Total | Pediatric | Adult | ||
1,912 | 1,175 | 737 | |||
International | 2,446 | 920 | 1,526 | ||
Total reported | 4,358 | 2,095 | 2,263 | ||
% Change vs. 1H24 | |||||
5.6 | 9.0 | 0.6 | |||
International | 1.6 | (7.0) | 7.7 | ||
Total reported | 3.3 | 1.3 | 5.3 | ||
Impact of foreign exchange | (1.5) | (1.2) | (1.6) | ||
Impact of business exit* | (0.3) | — | (0.7) | ||
Organic | 5.1 | 2.5 | 7.6 | ||
| 6.4 | 9.0 | 2.4 | ||
International | 4.1 | (4.6) | 10.2 | ||
*Reflects the impact of discontinuing the ZonePerfect® product line in the Nutrition business in March 2024. |
Diagnostics | |||||||||
Second Quarter 2025 Results (2Q25) | |||||||||
Sales 2Q25 ($ in millions) | Total | Core Laboratory | Molecular | Point of Care | Rapid | ||||
811 | 351 | 35 | 104 | 321 | |||||
International | 1,362 | 1,007 | 88 | 44 | 223 | ||||
Total reported | 2,173 | 1,358 | 123 | 148 | 544 | ||||
% Change vs. 2Q24 | |||||||||
(0.1) | 7.3 | 5.5 | (2.0) | (7.1) | |||||
International | (1.5) | 0.5 | (5.6) | (11.9) | (6.1) | ||||
Total reported | (1.0) | 2.2 | (2.7) | (5.1) | (6.7) | ||||
Impact of foreign exchange | 0.4 | 0.6 | 0.7 | 0.1 | 0.1 | ||||
Organic | (1.4) | 1.6 | (3.4) | (5.2) | (6.8) | ||||
| (0.1) | 7.3 | 5.5 | (2.0) | (7.1) | ||||
International | (2.2) | (0.3) | (6.5) | (12.1) | (6.3) | ||||
Global Diagnostics sales decreased 1.0 percent on a reported basis, decreased 1.4 percent on an organic basis, and increased 0.8 percent when excluding COVID-19 testing-related sales1.
Diagnostics sales growth was impacted by the year-over-year decline in COVID-19 testing-related sales and volume-based procurement programs in
COVID-19 testing-related sales were
Global Core Laboratory Diagnostics sales increased 2.2 percent on a reported basis and increased 1.6 percent on an organic basis. Growth in the quarter was impacted by volume-based procurement programs in China.
First Half 2025 Results (1H25) | |||||||||
Sales 1H25 ($ in millions) | Total | Core Laboratory | Molecular | Point of Care | Rapid | ||||
1,682 | 683 | 75 | 204 | 720 | |||||
International | 2,545 | 1,852 | 170 | 86 | 437 | ||||
Total reported | 4,227 | 2,535 | 245 | 290 | 1,157 | ||||
% Change vs. 1H24 | |||||||||
(3.5) | 7.2 | — | (0.3) | (12.8) | |||||
International | (4.5) | (2.4) | (6.1) | (4.5) | (12.3) | ||||
Total reported | (4.1) | 0.1 | (4.4) | (1.6) | (12.6) | ||||
Impact of foreign exchange | (0.9) | (1.2) | (1.0) | (0.4) | (0.6) | ||||
Organic | (3.2) | 1.3 | (3.4) | (1.2) | (12.0) | ||||
| (3.5) | 7.2 | — | (0.3) | (12.8) | ||||
International | (3.0) | (0.7) | (4.9) | (3.3) | (10.7) | ||||
Established Pharmaceuticals | |||||
Second Quarter 2025 Results (2Q25) | |||||
Sales 2Q25 ($ in millions) | Total | Key Emerging | Other | ||
— | — | — | |||
International | 1,383 | 1,059 | 324 | ||
Total reported | 1,383 | 1,059 | 324 | ||
% Change vs. 2Q24 | |||||
n/a | n/a | n/a | |||
International | 6.9 | 7.3 | 5.9 | ||
Total reported | 6.9 | 7.3 | 5.9 | ||
Impact of foreign exchange | (0.8) | (1.4) | 1.4 | ||
Organic | 7.7 | 8.7 | 4.5 | ||
| n/a | n/a | n/a | ||
International | 7.7 | 8.7 | 4.5 | ||
Established Pharmaceuticals sales increased 6.9 percent on a reported basis and 7.7 percent on an organic basis in the second quarter.
Key Emerging Markets include several emerging countries that represent the most attractive long-term growth opportunities for Abbott's branded generics product portfolio. Sales in these geographies increased 7.3 percent on a reported basis and 8.7 percent on an organic basis, led by double-digit growth in several countries across
First Half 2025 Results (1H25) | |||||
Sales 1H25 ($ in millions) | Total | Key Emerging | Other | ||
— | — | — | |||
International | 2,643 | 2,024 | 619 | ||
Total reported | 2,643 | 2,024 | 619 | ||
% Change vs. 1H24 | |||||
n/a | n/a | n/a | |||
International | 4.9 | 5.7 | 2.4 | ||
Total reported | 4.9 | 5.7 | 2.4 | ||
Impact of foreign exchange | (2.9) | (3.3) | (1.4) | ||
Organic | 7.8 | 9.0 | 3.8 | ||
| n/a | n/a | n/a | ||
International | 7.8 | 9.0 | 3.8 | ||
Medical Devices | |||||||||||||||
Second Quarter 2025 Results (2Q25) | |||||||||||||||
Sales 2Q25 ($ in millions) | Total | Rhythm | Electro- physiology | Heart | Vascular | Structural | Neuro- | Diabetes | |||||||
2,503 | 340 | 322 | 282 | 283 | 289 | 193 | 794 | ||||||||
International | 2,866 | 333 | 378 | 86 | 474 | 347 | 61 | 1,187 | |||||||
Total reported | 5,369 | 673 | 700 | 368 | 757 | 636 | 254 | 1,981 | |||||||
% Change vs. 2Q24 | |||||||||||||||
14.6 | 16.5 | 12.2 | 15.8 | 3.0 | 12.2 | 0.4 | 24.5 | ||||||||
International | 12.4 | 5.7 | 10.9 | 11.2 | 5.4 | 13.7 | 20.4 | 17.5 | |||||||
Total reported | 13.4 | 10.9 | 11.5 | 14.7 | 4.5 | 13.0 | 4.6 | 20.2 | |||||||
Impact of foreign exchange | 1.2 | 1.1 | 1.2 | 0.7 | 1.0 | 1.3 | 0.3 | 1.7 | |||||||
Organic | 12.2 | 9.8 | 10.3 | 14.0 | 3.5 | 11.7 | 4.3 | 18.5 | |||||||
| 14.6 | 16.5 | 12.2 | 15.8 | 3.0 | 12.2 | 0.4 | 24.5 | |||||||
International | 10.1 | 3.6 | 8.8 | 8.4 | 3.8 | 11.4 | 18.7 | 14.7 | |||||||
Worldwide Medical Devices sales increased 13.4 percent on a reported basis and 12.2 percent on an organic basis in the second quarter.
Sales growth in the quarter was led by double-digit growth in Diabetes Care, Heart Failure, Structural Heart and Electrophysiology.
Several products contributed to the strong performance, including FreeStyle Libre®, Navitor®, TriClip® and AVEIR®.
In Diabetes Care, sales of continuous glucose monitors were
First Half 2025 Results (1H25) | |||||||||||||||
Sales 1H25 ($ in millions) | Total | Rhythm | Electro- physiology | Heart | Vascular | Structural | Neuro- | Diabetes | |||||||
4,842 | 644 | 621 | 544 | 551 | 571 | 369 | 1,542 | ||||||||
International | 5,422 | 614 | 708 | 163 | 916 | 642 | 113 | 2,266 | |||||||
Total reported | 10,264 | 1,258 | 1,329 | 707 | 1,467 | 1,213 | 482 | 3,808 | |||||||
% Change vs. 1H24 | |||||||||||||||
14.8 | 14.4 | 11.7 | 13.2 | 4.2 | 16.3 | (1.1) | 25.7 | ||||||||
International | 9.1 | 1.2 | 7.6 | 12.6 | 3.5 | 9.3 | 18.5 | 13.8 | |||||||
Total reported | 11.7 | 7.6 | 9.5 | 13.1 | 3.8 | 12.5 | 2.9 | 18.4 | |||||||
Impact of foreign exchange | (0.7) | (0.4) | (0.6) | (0.2) | (0.7) | (0.7) | (0.4) | (0.7) | |||||||
Organic | 12.4 | 8.0 | 10.1 | 13.3 | 4.5 | 13.2 | 3.3 | 19.1 | |||||||
| 14.8 | 14.4 | 11.7 | 13.2 | 4.2 | 16.3 | (1.1) | 25.7 | |||||||
International | 10.3 | 2.0 | 8.8 | 13.4 | 4.8 | 10.5 | 20.5 | 15.0 | |||||||
ABBOTT'S FINANCIAL GUIDANCE
Abbott projects full-year 2025 organic sales growth, excluding COVID-19 testing related sales, to be
Abbott projects full-year 2025 adjusted operating margin to be approximately
Abbott projects full-year 2025 adjusted diluted earnings per share of
Abbott has not provided the related GAAP financial measures on a forward-looking basis for these forward-looking non-GAAP financial measures because the company is unable to predict with reasonable certainty and without unreasonable effort the timing and impact of certain items such as restructuring and cost reduction initiatives, charges for intangible asset impairments, acquisition-related expenses, and foreign exchange, which could significantly impact Abbott's results in accordance with GAAP.
ABBOTT DECLARES 406th CONSECUTIVE QUARTERLY DIVIDEND
On June 13, 2025, the board of directors of Abbott declared the company's quarterly dividend of
Abbott has increased its dividend payout for 53 consecutive years and is a member of the S&P 500 Dividend Aristocrats Index, which tracks companies that have annually increased their dividend for at least 25 consecutive years.
About Abbott:
Abbott is a global healthcare leader that helps people live more fully at all stages of life. Our portfolio of life-changing technologies spans the spectrum of healthcare, with leading businesses and products in diagnostics, medical devices, nutritionals and branded generic medicines. Our 114,000 colleagues serve people in more than 160 countries.
Connect with us at www.abbott.com and on LinkedIn, Facebook, Instagram, X and YouTube.
Abbott will live-webcast its second-quarter earnings conference call through its Investor Relations website at www.abbottinvestor.com at 8 a.m. Central time today. An archived edition of the webcast will be available later in the day.
— Private Securities Litigation Reform Act of 1995 —
A Caution Concerning 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, 2024, 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.
1. | In the second quarter of 2025, total worldwide sales were |
2. | In the first half of 2025, total worldwide sales were |
Abbott Laboratories and Subsidiaries Condensed Consolidated Statement of Earnings Second Quarter Ended June 30, 2025 and 2024 (in millions, except per share data) (unaudited) | ||||||
2Q25 | 2Q24 | % Change | ||||
Net Sales | 7.4 | |||||
Cost of products sold, excluding amortization expense | 4,854 | 4,603 | 5.5 | |||
Amortization of intangible assets | 420 | 471 | (10.7) | |||
Research and development | 725 | 698 | 3.9 | |||
Selling, general, and administrative | 3,091 | 2,936 | 5.3 | |||
Total Operating Cost and Expenses | 9,090 | 8,708 | 4.4 | |||
Operating Earnings | 2,052 | 1,669 | 23.0 | |||
Interest expense, net | 50 | 58 | (14.2) | |||
Net foreign exchange (gain) loss | (11) | (6) | 55.6 | |||
Other (income) expense, net | (137) | 10 | n/m | |||
Earnings before taxes | 2,150 | 1,607 | 33.8 | |||
Taxes on earnings | 371 | 305 | 21.3 | 1) | ||
Net Earnings | 36.7 | |||||
Net Earnings excluding Specified Items, as described below | 10.5 | 2) | ||||
Diluted Earnings per Common Share | 36.5 | |||||
Diluted Earnings per Common Share, excluding Specified Items, as described below | 10.5 | 2) | ||||
Average Number of Common Shares Outstanding Plus Dilutive Common Stock Options | 1,751 | 1,751 | ||||
NOTES: | |
See table titled "Non-GAAP Reconciliation of Financial Information" for an explanation of certain non-GAAP financial information. | |
n/m = Percent change is not meaningful. | |
See footnotes on the following section. | |
1) | 2025 Taxes on Earnings includes the recognition of approximately |
2024 Taxes on Earnings includes the recognition of approximately | |
2) | 2025 Net Earnings and Diluted Earnings per Common Share, excluding Specified Items, excludes net after-tax charges of |
2024 Net Earnings and Diluted Earnings per Common Share, excluding Specified Items, excludes net after-tax charges of | |
Abbott Laboratories and Subsidiaries Condensed Consolidated Statement of Earnings First Half Ended June 30, 2025 and 2024 (in millions, except per share data) (unaudited) | ||||||
1H25 | 1H24 | % Change | ||||
Net Sales | 5.7 | |||||
Cost of products sold, excluding amortization expense | 9,322 | 9,066 | 2.8 | |||
Amortization of intangible assets | 840 | 943 | (10.8) | |||
Research and development | 1,441 | 1,382 | 4.3 | |||
Selling, general, and administrative | 6,152 | 5,895 | 4.4 | |||
Total Operating Cost and Expenses | 17,755 | 17,286 | 2.7 | |||
Operating Earnings | 3,745 | 3,055 | 22.6 | |||
Interest expense, net | 99 | 119 | (16.4) | |||
Net foreign exchange (gain) loss | (18) | (6) | n/m | |||
Other (income) expense, net | (264) | (101) | n/m | |||
Earnings before taxes | 3,928 | 3,043 | 29.1 | |||
Taxes on earnings | 824 | 516 | 59.5 | 1) | ||
Net Earnings | 22.9 | |||||
Net Earnings excluding Specified Items, as described below | 10.7 | 2) | ||||
Diluted Earnings per Common Share | 22.9 | |||||
Diluted Earnings per Common Share, excluding Specified Items, as described below | 10.8 | 2) | ||||
Average Number of Common Shares Outstanding Plus Dilutive Common Stock Options | 1,749 | 1,750 | ||||
NOTES: | |
See table titled "Non-GAAP Reconciliation of Financial Information" for an explanation of certain non-GAAP financial information. | |
n/m = Percent change is not meaningful. | |
See footnotes on the following section. | |
1) | 2025 Taxes on Earnings includes the recognition of approximately |
2024 Taxes on Earnings includes the recognition of approximately | |
2) | 2025 Net Earnings and Diluted Earnings per Common Share, excluding Specified Items, excludes net after-tax charges of |
2024 Net Earnings and Diluted Earnings per Common Share, excluding Specified Items, excludes net after-tax charges of | |
Abbott Laboratories and Subsidiaries Non-GAAP Reconciliation of Financial Information Second Quarter Ended June 30, 2025 and 2024 (in millions, except per share data) (unaudited) | |||||
2Q25 | |||||
As Reported | Specified | As Adjusted | |||
Intangible Amortization | $ 420 | $ (420) | $ — | ||
Gross Margin | 5,868 | 478 | 6,346 | ||
R&D | 725 | (20) | 705 | ||
SG&A | 3,091 | (1) | 3,090 | ||
Other (income) expense, net | (137) | (1) | (138) | ||
Earnings before taxes | 2,150 | 500 | 2,650 | ||
Taxes on Earnings | 371 | 66 | 437 | ||
Net Earnings | 1,779 | 434 | 2,213 | ||
Diluted Earnings per Share | $ 1.01 | $ 0.25 | $ 1.26 | ||
Specified items reflect intangible amortization expense of
2Q24 | |||||
As Reported | Specified | As Adjusted | |||
Intangible Amortization | $ 471 | $ (471) | $ — | ||
Gross Margin | 5,303 | 506 | 5,809 | ||
R&D | 698 | (41) | 657 | ||
SG&A | 2,936 | (57) | 2,879 | ||
Other (income) expense, net | 10 | (145) | (135) | ||
Earnings before taxes | 1,607 | 749 | 2,356 | ||
Taxes on Earnings | 305 | 48 | 353 | ||
Net Earnings | 1,302 | 701 | 2,003 | ||
Diluted Earnings per Share | $ 0.74 | $ 0.40 | $ 1.14 | ||
Specified items reflect intangible amortization expense of
Abbott Laboratories and Subsidiaries Non-GAAP Reconciliation of Financial Information First Half Ended June 30, 2025 and 2024 (in millions, except per share data) (unaudited) | |||||
1H25 | |||||
As Reported | Specified | As Adjusted | |||
Intangible Amortization | $ 840 | $ (840) | $ — | ||
Gross Margin | 11,338 | 926 | 12,264 | ||
R&D | 1,441 | (47) | 1,394 | ||
SG&A | 6,152 | (11) | 6,141 | ||
Other (income) expense, net | (264) | (36) | (300) | ||
Earnings before taxes | 3,928 | 1,020 | 4,948 | ||
Taxes on Earnings | 824 | (8) | 816 | ||
Net Earnings | 3,104 | 1,028 | 4,132 | ||
Diluted Earnings per Share | $ 1.77 | $ 0.58 | $ 2.35 | ||
Specified items reflect intangible amortization expense of
1H24 | |||||
As Reported | Specified | As Adjusted | |||
Intangible Amortization | $ 943 | $ (943) | $ — | ||
Gross Margin | 10,332 | 1,024 | 11,356 | ||
R&D | 1,382 | (62) | 1,320 | ||
SG&A | 5,895 | (91) | 5,804 | ||
Other (income) expense, net | (101) | (171) | (272) | ||
Earnings before taxes | 3,043 | 1,348 | 4,391 | ||
Taxes on Earnings | 516 | 143 | 659 | ||
Net Earnings | 2,527 | 1,205 | 3,732 | ||
Diluted Earnings per Share | $ 1.44 | $ 0.68 | $ 2.12 | ||
Specified items reflect intangible amortization expense of
A reconciliation of the second-quarter tax rates for 2025 and 2024 is shown below:
2Q25 | ||||||
($ in millions) | Pre-Tax Income | Taxes on Earnings | Tax Rate | |||
As reported (GAAP) | $ 2,150 | $ 371 | 17.3 % | 1) | ||
Specified items | 500 | 66 | ||||
Excluding specified items | $ 2,650 | $ 437 | 16.5 % | |||
2Q24 | ||||||
($ in millions) | Pre-Tax Income | Taxes on Earnings | Tax Rate | |||
As reported (GAAP) | $ 1,607 | $ 305 | 19.0 % | 2) | ||
Specified items | 749 | 48 | ||||
Excluding specified items | $ 2,356 | $ 353 | 15.0 % | |||
1) | 2025 Taxes on Earnings includes the recognition of approximately |
2) | 2024 Taxes on Earnings includes the recognition of approximately |
A reconciliation of the year-to-date tax rates for 2025 and 2024 is shown below:
1H25 | ||||||
($ in millions) | Pre-Tax Income | Taxes on Earnings | Tax Rate | |||
As reported (GAAP) | $ 3,928 | $ 824 | 21.0 % | 3) | ||
Specified items | 1,020 | (8) | ||||
Excluding specified items | $ 4,948 | $ 816 | 16.5 % | |||
1H24 | ||||||
($ in millions) | Pre-Tax Income | Taxes on Earnings | Tax Rate | |||
As reported (GAAP) | $ 3,043 | $ 516 | 17.0 % | 4) | ||
Specified items | 1,348 | 143 | ||||
Excluding specified items | $ 4,391 | $ 659 | 15.0 % | |||
3) | 2025 Taxes on Earnings includes the recognition of approximately |
4) | 2024 Taxes on Earnings includes the recognition of approximately |
Abbott Laboratories and Subsidiaries Non-GAAP Revenue Reconciliation First Half Ended June 30, 2025 and 2024 ($ in millions) (unaudited) | |||||||||||
1H25 | 1H24 | % Change vs. 1H24 | |||||||||
Non-GAAP | |||||||||||
Abbott | Abbott | Impact | Adjusted | Reported | Adjusted | Organic | |||||
Total Company | 21,500 | 20,341 | (13) | 20,328 | 5.7 | 5.8 | 6.9 | ||||
8,444 | 7,780 | (13) | 7,767 | 8.5 | 8.7 | 8.7 | |||||
Intl | 13,056 | 12,561 | — | 12,561 | 3.9 | 3.9 | 5.8 | ||||
Total Nutrition | 4,358 | 4,218 | (13) | 4,205 | 3.3 | 3.6 | 5.1 | ||||
1,912 | 1,811 | (13) | 1,798 | 5.6 | 6.4 | 6.4 | |||||
Intl | 2,446 | 2,407 | — | 2,407 | 1.6 | 1.6 | 4.1 | ||||
Adult Nutrition | 2,263 | 2,150 | (13) | 2,137 | 5.3 | 6.0 | 7.6 | ||||
737 | 733 | (13) | 720 | 0.6 | 2.4 | 2.4 | |||||
Intl | 1,526 | 1,417 | — | 1,417 | 7.7 | 7.7 | 10.2 | ||||
(a) | Reflects the impact of discontinuing the ZonePerfect® product line in the Nutrition business in March 2024. |
Abbott Laboratories and Subsidiaries Details of Specified Items Second Quarter Ended June 30, 2025 (in millions, except per share data) (unaudited) | |||||||||
Acquisition or Divestiture- related (a) | Restructuring and Cost Reduction Initiatives (b) | Intangible Amortization | Other (c) | Total Specifieds | |||||
Gross Margin | $ 1 | $ 55 | $ 420 | $ 2 | $ 478 | ||||
R&D | — | (7) | — | (13) | (20) | ||||
SG&A | (3) | 1 | — | 1 | (1) | ||||
Other (income) expense, net | (1) | — | — | — | (1) | ||||
Earnings before taxes | $ 5 | $ 61 | $ 420 | $ 14 | 500 | ||||
Taxes on Earnings (d) | 66 | ||||||||
Net Earnings | $ 434 | ||||||||
Diluted Earnings per Share | $ 0.25 | ||||||||
The table above provides additional details regarding the specified items described on table titled "Non-GAAP Reconciliation of Financial Information." | |
a) | Acquisition-related expenses include integration costs, which represent incremental costs directly related to integrating acquired businesses. |
b) | Restructuring and cost reduction initiative expenses include severance, outplacement and other direct costs associated with specific restructuring plans and cost reduction initiatives. |
c) | Other includes incremental costs to comply with the European Union's Medical Device Regulations (MDR) and In Vitro Diagnostics Medical Device Regulations (IVDR) requirements for previously approved products. |
d) | Reflects the net tax benefit associated with the specified items and the recognition of a tax benefit as a result of the resolution of various tax positions related to prior years. 2025 Taxes on Earnings includes approximately |
Abbott Laboratories and Subsidiaries Details of Specified Items Second Quarter Ended June 30, 2024 (in millions, except per share data) (unaudited) | |||||||||
Acquisition or Divestiture- related (a) | Restructuring and Cost Reduction Initiatives (b) | Intangible Amortization | Other (c) | Total Specifieds | |||||
Gross Margin | $ 1 | $ 32 | $ 471 | $ 2 | $ 506 | ||||
R&D | (1) | 1 | — | (41) | (41) | ||||
SG&A | (11) | (10) | — | (36) | (57) | ||||
Other (income) expense, net | (147) | — | — | 2 | (145) | ||||
Earnings before taxes | $ 160 | $ 41 | $ 471 | $ 77 | 749 | ||||
Taxes on Earnings (d) | 48 | ||||||||
Net Earnings | $ 701 | ||||||||
Diluted Earnings per Share | $ 0.40 | ||||||||
The table above provides additional details regarding the specified items described on table titled "Non-GAAP Reconciliation of Financial Information." | |
a) | Includes the loss on the sale of a non-core business. Acquisition-related expenses include integration costs, which represent incremental costs directly related to integrating acquired businesses. |
b) | Restructuring and cost reduction initiative expenses include severance, outplacement and other direct costs associated with specific restructuring plans and cost reduction initiatives. |
c) | Other includes incremental costs to comply with the MDR and IVDR requirements for previously approved products and an intangible asset impairment charge. |
d) | Reflects the net tax benefit associated with the specified items and tax expense as a result of the resolution of various tax positions related to prior years. |
Abbott Laboratories and Subsidiaries Details of Specified Items First Half Ended June 30, 2025 (in millions, except per share data) (unaudited) | |||||||||
Acquisition or Divestiture- related (a) | Restructuring and Cost Reduction Initiatives (b) | Intangible Amortization | Other (c) | Total Specifieds | |||||
Gross Margin | $ 1 | $ 81 | $ 840 | $ 4 | $ 926 | ||||
R&D | (1) | (23) | — | (23) | (47) | ||||
SG&A | (6) | (6) | — | 1 | (11) | ||||
Other (income) expense, net | (25) | — | — | (11) | (36) | ||||
Earnings before taxes | $ 33 | $ 110 | $ 840 | $ 37 | 1,020 | ||||
Taxes on Earnings (d) | (8) | ||||||||
Net Earnings | $ 1,028 | ||||||||
Diluted Earnings per Share | $ 0.58 | ||||||||
The table above provides additional details regarding the specified items described on table titled "Non-GAAP Reconciliation of Financial Information." | |
a) | Acquisition-related expenses include integration costs, which represent incremental costs directly related to integrating acquired businesses, as well as other costs related to business acquisitions. |
b) | Restructuring and cost reduction initiative expenses include severance, outplacement and other direct costs associated with specific restructuring plans and cost reduction initiatives. |
c) | Other includes incremental costs to comply with the MDR and IVDR regulations for previously approved products and charges for investment impairments. |
d) | Reflects the net tax benefit associated with the specified items and recognition of a tax benefit as a result of the resolution of various tax positions related to prior years. 2025 Taxes on Earnings includes approximately |
Abbott Laboratories and Subsidiaries Details of Specified Items First Half Ended June 30, 2024 (in millions, except per share data) (unaudited) | |||||||||
Acquisition or Divestiture- related (a) | Restructuring and Cost Reduction Initiatives (b) | Intangible Amortization | Other (c) | Total Specifieds | |||||
Gross Margin | $ 2 | $ 74 | $ 943 | $ 5 | $ 1,024 | ||||
R&D | (4) | (1) | — | (57) | (62) | ||||
SG&A | (25) | (19) | — | (47) | (91) | ||||
Other (income) expense, net | (135) | — | — | (36) | (171) | ||||
Earnings before taxes | $ 166 | $ 94 | $ 943 | $ 145 | 1,348 | ||||
Taxes on Earnings (d) | 143 | ||||||||
Net Earnings | $ 1,205 | ||||||||
Diluted Earnings per Share | $ 0.68 | ||||||||
The table above provides additional details regarding the specified items described on table titled "Non-GAAP Reconciliation of Financial Information." | |
a) | Includes the loss on the sale of a non-core business. Acquisition-related expenses include integration costs, which represent incremental costs directly related to integrating acquired businesses, as well as other costs related to business acquisitions. |
b) | Restructuring and cost reduction initiative expenses include severance, outplacement and other direct costs associated with specific restructuring plans and cost reduction initiatives. |
c) | Other includes incremental costs to comply with the MDR and IVDR regulations for previously approved products and charges for investment and intangible asset impairments. |
d) | Reflects the net tax benefit associated with the specified items and tax expense as a result of the resolution of various tax positions related to prior years. |
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SOURCE Abbott
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