Abbott Laboratories Meets Expectations in Latest Quarter, Narrows Outlook

   By Aisha Al-Muslim

Abbott Laboratories (ABT) reported on Wednesday a profit for the third quarter of $563 million, or 32 cents a share, down from $603 million, or 34 cents a share, a year earlier. Adjusted earnings were 75 cents a share, in-line with estimates by analysts polled by Refinitiv.

Net sales for the global health-care company rose 12% to $7.66 billion, slightly ahead of the consensus forecast of $7.65 billion.

For 2018, the company narrowed its earnings guidance. Abbott expects adjusted earnings per share from continuing operations of $2.87 to $2.89, compared with its previous estimate in July of $2.85 and $2.91. Analysts had forecast adjusted earnings of $2.89 a share.

For the fourth quarter, the company guided adjusted earnings per share from continuing operations of 80 cents to 82 cents, compared with analysts' estimates of 82 cents a share.

The stock fell 2% to $69.50 in pre-market trading Wednesday. Shares are up 29% in the last year.

Write to Aisha Al-Muslim at aisha.al-muslim@wsj.com

(END) Dow Jones Newswires

October 17, 2018 08:23 ET (12:23 GMT)

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