Abbott Laboratories Third Quarter 2022 Earnings: Beats Expectations

Abbott Laboratories (NYSE:ABT) Third Quarter 2022 Results

Key Financial Results

• Revenue: US$10.4b (down 4.7% from 3Q 2021).
• Net income: US$1.44b (down 31% from 3Q 2021).
• Profit margin: 14% (down from 19% in 3Q 2021).
  • The decrease in margin was primarily driven by lower revenue.
• EPS: US$0.81 (down from US$1.18 in 3Q 2021).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Abbott Laboratories Revenues and Earnings Beat Expectations

Revenue exceeded analyst estimates by 7.9%. Earnings per share (EPS) also surpassed analyst estimates by 27%.

Looking ahead, revenue is forecast to grow 1.9% p.a. on average during the next 3 years, compared to a 7.8% growth forecast for the Medical Equipment industry in the US.

Performance of the American Medical Equipment industry.

The company's shares are down 7.1% from a week ago.

Risk Analysis

You should always think about risks. Case in point, we've spotted 2 warning signs for Abbott Laboratories you should be aware of.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.