Abbott Labs reports EPS in-line, misses on revs; guides FY14 EPS in-line; plans to repurchase $2 bln in stock this year
Reports Q4 (Dec) earnings of $0.58 per share, excluding non-recurring items, in-line with the Capital IQ Consensus Estimate consensus of $0.58; revenues rose 0.4% year/year to $5.66 bln vs the $5.72 bln consensus. Ex-FX, Q4 worldwide sales increased 3.3 percent on an operational basis. Reported sales increased 0.4 percent, including an unfavorable 2.9 percent effect of foreign exchange. The previously reported sales disruption in International Nutrition that occurred in August is estimated to have reduced Abbott's total worldwide sales growth by ~1.5 percentage points.
Co issues in-line guidance for FY14, sees EPS of 2.21-2.26 vs. $2.21 Capital IQ Consensus. In 2014, Abbott projects an increase in its share repurchases to more than $2 billion.
Co issues in-line guidance for FY14, sees EPS of 2.21-2.26 vs. $2.21 Capital IQ Consensus. In 2014, Abbott projects an increase in its share repurchases to more than $2 billion.