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abbott financial report 2019

In 2019, in conjunction with the acquisition of Cephea Valve Technologies, Inc., Abbott acquired an R&D asset valued at $102 million, which was immediately expensed. Condensed Consolidated Statement of Earnings, Fourth Quarter Ended December 31, 2019 and 2018, Cost of products sold, excluding amortization expense, Earnings from Continuing Operations before taxes, Tax expense on Earnings from Continuing Operations, Earnings from Discontinued Operations, net of taxes, Earnings from Continuing Operations, excluding, Diluted Earnings per Common Share from Continuing, Operations, excluding Specified Items, as described below, Average Number of Common Shares Outstanding. Other includes the cost associated with the early extinguishment of debt, costs related to the acquisition of R&D assets and charges related to the impairment of certain assets, partially offset by a gain on investments. All Rights Reserved. On an organic basis, worldwide sales increased 8.5 percent. Adult Nutrition business, which was discontinued during the third quarter 2018. 2018 Tax expense on Earnings from Continuing Operations includes an additional $120 million of tax expense for the transition tax associated with the TCJA, as well as the impact of approximately $90 million in excess tax benefits associated with share-based compensation. ABBOTT ISSUES GUIDANCE FOR 2020Abbott is issuing full-year 2020 guidance for organic sales growth of 7.0 to 8.0 percent2, which excludes the impact of foreign exchange, and diluted earnings per share from continuing operations under Generally Accepted Accounting Principles (GAAP) of $2.35 to $2.45. Reported tax rate on a GAAP basis for 2018 includes the impact of an additional $120 million of tax expense for the transition tax associated with the TCJA, as well as the impact of approximately $90 million in excess tax benefits associated with share-based compensation. Acquisition-related expenses include costs for tax and other services related to business acquisitions, integration costs which represent incremental costs directly related to integrating the acquired businesses and include expenditures for retention, severance, and the integration of systems, processes and business activities. Specified items include intangible amortization expense, acquisition-related expenses, charges associated with cost reduction initiatives and other expenses. Organic sales growth was led by infectious disease testing in developed markets and cardio-metabolic testing globally, partially offset by lower infectious disease testing sales in Africa. Reflects the net tax benefit associated with the specified items and excess tax benefits associated with share-based compensation. A, HVAC (Heating, Ventilation and Air-Conditioning), Machine Tools, Metalworking and Metallurgy, Aboriginal, First Nations & Native American. A reconciliation of the year-to-date tax rates for continuing operations for 2019 and 2018 is shown below: Reported tax rate on a GAAP basis for 2019 includes the impact of a $86 million reduction of the transition tax associated with the TCJA and approximately $100 million in excess tax benefits associated with share-based compensation. Note: Insertable Cardiac Monitor (ICM) sales, which had previously been reported in Electrophysiology, are now included in Rhythm Management. Fundamental company data and analyst estimates provided by FactSet. In Heart Failure, double-digit growth was driven by market adoption of Abbott's HeartMate 3® left ventricular assist device, which has been shown to improve survival and clinical outcomes in patients with advanced heart failure. First-quarter worldwide sales of $7.5 billion increased 2.0 percent on a reported basis and 7.1 percent on an organic* basis. Restructuringand CostReductionInitiatives (b), Tax expense on Earnings from Continuing Operations (d), The table above provides additional details regarding the specified items described on the tables titled "Non-GAAP Reconciliation of Financial Information From Continuing Operations.". 2019 Annual Report and Form 10K. 2019 Tax expense on Earnings from Continuing Operations includes the impact of a $86 million reduction of the transition tax associated with the Tax Cuts and Jobs Act (TCJA) and approximately $100 million in excess tax benefits associated with share-based compensation. Excluding specified items, projected adjusted diluted earnings per share from continuing operations would be $3.55 to $3.65 for the full year 2020. Copyright © FactSet Research Systems Inc. All rights reserved. About Abbott: Abbott is a global healthcare leader that helps people live more fully at all stages of life. ABBOTT PARK, Ill., Jan. 22, 2020 /PRNewswire/ -- Abbott (NYSE: ABT) today announced financial results for the fourth quarter and full year ended Dec. 31, 2019. Abbott reports strong growth in second-quarter (Q2) 2019 and raises EPS and sales guidance. March 4, 2019 ABBOTT 2018 ANNUAL REPORT LETTER TO OUR SHAREHOLDERS of 2018 sales came from products and businesses new to Abbott in the last six years. Sales performance was led by above-market growth in the U.S. and internationally, where Abbott is achieving continued strong adoption of its Alinity family of innovative and highly differentiated diagnostic instruments. FactSet (a) does not make any express or implied warranties of any kind regarding the data, including, without limitation, any warranty of merchantability or fitness for a particular purpose or use; and (b) shall not be liable for any errors, incompleteness, interruption or delay, action taken in reliance on any data, or for any damages resulting therefrom. Company. Dec 31, 2018. Other sales increased 10.4 percent on a reported basis in the fourth quarter, including an unfavorable 1.2 percent effect of foreign exchange, and increased 11.6 percent on an organic basis. Fourth-quarter 2019 worldwide sales of $8.3 billion increased 7.1 percent on a reported basis. Filing Group. Worldwide Pediatric Nutrition sales increased 2.4 percent on a reported basis in the fourth quarter, including an unfavorable 0.4 percent effect of foreign exchange, and increased 2.8 percent on an organic basis. Stocks: Real-time U.S. stock quotes reflect trades reported through Nasdaq only; comprehensive quotes and volume reflect trading in all markets and are delayed at least 15 minutes. Annual report which provides a comprehensive overview of the company for the past year, To request information via email, please follow this link, Learn how to contact our transfer agent and investor relations department. OUR KEY BRANDS ABBOTT INDIA AT A GLANCE STRENGTHS Backed by Abbott India's 75+ year reputation for quality, a reliable supply chain, and expertise Market leadership in multiple therapies and niche segments Approach to lead Refer to table titled "Non-GAAP Reconciliation of Adjusted Historical Revenue" for a reconciliation of adjusted historical revenue. Document Date. An archived edition of the webcast will be available later that day. Specified items reflect intangible amortization expense of $488 million and other expenses of $226 million, primarily associated with acquisitions, restructuring actions and other expenses, as well as $85 million of additional transition tax related to the TCJA. See tables titled "Details of Specified Items" for additional details regarding specified items. Refer to table titled "Non-GAAP Reconciliation of Adjusted Historical Revenue" for a reconciliation of adjusted historical revenue.

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