Abbott Laboratories Sets 2020 Guidance

Date : 01/22/2020 @ 1:27PM
Source : Dow Jones News
Stock : Abbott Laboratories (ABT)
Quote : 77.03  -2.16 (-2.73%) @ 10:28PM
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Last $ 77.60 ▲ 0.57 (0.74%)

Abbott Laboratories Sets 2020 Guidance

Abbott Laboratories (NYSE:ABT)
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By Dave Sebastian

 

Abbott Laboratories (ABT) on Wednesday set its guidance for 2020 as it reported higher fourth-quarter profit and sales.

The Abbott Park, Ill.-based maker of health-care products expects organic sales growth of between 7% and 8% for the year, a metric that excludes the impact of foreign exchange.

The company said it sees per-share earnings from continuing operations at $2.35-$2.45.

It expects net specified items for the year of $1.20 a share, including intangible amortization expense, acquisition-related expenses, charges associated with cost-reduction measures and other expenses. Excluding those items, the company sees earnings per share from continuing operations of $3.55-$3.65 for 2020.

For the first quarter, Abbott said it expects earnings per share from continuing operations of 40 cents-42 cents. Excluding items, it forecast earnings from continuing operations of between 69 cents and 71 cents a share for the quarter.

Abbott shares rose 2% in premarket trading.

 

Write to Dave Sebastian at dave.sebastian@wsj.com

 

(END) Dow Jones Newswires

January 22, 2020 08:12 ET (13:12 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.

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