Abbott Laboratories (NYSE:ABT) is scheduled to announce Q1 earnings results on Wednesday, April 17th, before market open.
Analysts are expecting profit of $0.95 per share (-7.8% Y/Y) on revenue of $9.88B (+1.9% Y/Y).
This Illinois-based healthcare equipment maker is expected to report a rise is organic revenue growth, benefitting from a line-up of new products and pent-up demand.
Investors will look out for comments around momentum in the Nutrition and Medical Devices segment and comments around products like Libre and MitraClip.
JPMorgan expects to see a top-line beat in the quarter as volume trends have remained healthy and overall pricing stable.
“We know there continue to be questions around the level of upside we could see to the company’s +8-10% organic growth guide in addition to the overhang from the recent Reckitt ruling, however, with a conservative view on EP and a healthy pipeline of new product launches across the portfolio, we continue to like the setup for Abbott both into 1Q and for the full year – 1Q should be a nice beat and EPS raise.” JPMorgan said in its preview on ABT.
Over the last 2 years, ABT has beaten EPS estimates 100% of the time and has beaten revenue estimates 100% of the time.
Over the last 3 months, EPS estimates have seen 5 upward revisions and 8 downward. Revenue estimates have seen 6 upward revisions and 7 downward.
TD Cowen expects the 1Q print to increase investor confidence in ABT delivering organic revenue growth above the midpoint of the 8%-10% full-year range. “This organic revenue growth trajectory represents a highly differentiated level of performance considering the company’s $40B+ revenue base and the 11.5% growth comp from 2023.”
The stock has dropped about 1.07% YTD compared to the broader S&P 500 market which has gained about 7.41%.
SA Quant ratings recommends ABT as a Hold, while Wall Street analysts rate the stock as Buy.
