Abbott Laboratories Reports Q4 Sales in Line with Estimates

Abbott Laboratories (NYSE: ABT) has reported its fourth-quarter sales, which were in line with analysts' estimates. The company's diversified business portfolio and robust pipeline of new products have positioned it for long-term success, despite market uncertainties and the ongoing COVID-19 pandemic.

In the fourth quarter of 2024, Abbott's total reported sales increased by 7.2 percent year-over-year, reaching $10.97 billion. Organic sales growth for the underlying base business was 10.1 percent, excluding COVID-19 testing-related sales. The company's adjusted diluted earnings per share (EPS) for the quarter were $1.34, excluding specified items.

Abbott's strong performance was driven by its diversified business portfolio, which includes branded generic pharmaceuticals, diagnostic systems and tests, pediatric and adult nutritional products, and medical devices. The company's global leadership position in COVID testing, particularly rapid testing, has been a significant factor in its resilience and growth. Abbott made more than 100 million tests per month globally in 2022, with 70 million BinaxNOW rapid tests produced in the U.S. in January alone (Source: Abbott Laboratories Company Overview, January 11, 2022).

The company's FreeStyle Libre system, a continuous glucose monitoring (CGM) device, has also contributed to its success. With approximately 4 million users globally by January 2022, the system's accessibility and affordability have made it the world's most affordable and widely used glucose monitor (Source: Abbott Laboratories Company Overview, January 11, 2022).

Abbott's new category of consumer biowearables, called Lingo, is expected to launch in Europe later in 2022. This new product line will enable the company to broaden the reach and impact of its biosensor technology beyond people with diabetes, further diversifying its revenue streams (Source: Abbott Laboratories Company Overview, January 11, 2022).