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Abbott Laboratories (NYSE: ABT) upgrades organic sales growth and EPS guidance for 2024

Fri 24 May 24, 02:56 AM | Team Kalkine

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Highlights

Abbott Laboratories (NYSE: ABT) headquartered in the USA, is a multinational firm that specializes in medical devices and healthcare. The company creates innovative products in branded generic pharmaceuticals, diagnostics, medical devices, and nutrition. It has a market capitalization of USD 181.32 billion.

Driven by strong performance in its underlying base business, Abbott reported sales of USD 10 billion for the first quarter of 2024 (Q1 FY24), marking a 2.2% growth over pcp. Organic sales for the underlying base business surged by 10.8%, marking the fifth consecutive quarter of double-digit growth. First-quarter GAAP diluted earnings per share (EPS) stood at USD 0.70, while adjusted diluted EPS, excluding certain items, was USD 0.98.

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