Abbott Laboratories (ABT) released its financial outcomes for the third quarter on Thursday, along with its earnings forecast for the fourth quarter, which aligns with analysts' expectations, and adjusted its full-year 2024 earnings outlook upward. The company has upheld its forecast for annual organic sales growth.
For the fourth quarter, Abbott anticipates earnings between $0.96 and $1.02 per share, with adjusted earnings projected to be between $1.31 and $1.37 per share. According to a survey of 21 analysts by Thomson Reuters, the company's earnings per share are expected to be $1.34 for the quarter, excluding special items.
Looking ahead to the 2024 fiscal year, Abbott now anticipates earnings ranging from $3.34 to $3.40 per share and adjusted earnings between $4.64 and $4.70 per share. This marks a slight revision from its previous projection of $3.30 to $3.40 in earnings per share and adjusted earnings of $4.61 to $4.71. The market anticipates a fiscal year earnings figure of $4.66 per share.
Abbott has reaffirmed its guidance for full-year organic sales growth, excluding COVID-19 testing-related sales, set at 9.5 to 10.0 percent.
On September 19, 2024, Abbott's board declared a quarterly dividend of $0.55 per share, to be distributed on November 15, 2024, to shareholders recorded by the close of business on October 15, 2024. In October, the board also approved a new share repurchase program, authorizing up to $7 billion in buybacks of the company's common stock.