Abbott Laboratories' $(ABT)$ stock fell 0.8% in premarket trading after first-quarter sales missed Wall Street's expectations, despite better-than-expected adjusted earnings. The healthcare products company also reaffirmed its full year outlook.
The Abbott Park, Ill.-based company's adjusted first-quarter profit of $1.09 a share beat the FactSet consensus estimate of $1.07 a share.
Sales rose 4% year-over-year to $10.358 billion. Analysts surveyed by FactSet were looking for sales of $10.406 billion.
The company also reaffirmed its previously-provided full-year financial guidance. Abbott Labs expects full-year 2025 organic sales growth in the range of 7.5% to 8.5% and full-year adjusted earnings of $5.05 to $5.25 a share.
For the second quarter, Abbott Labs expects adjusted earnings of $1.23 to $1.27 a share. Analysts surveyed by FactSet are looking for second-quarter earnings of $1.25 a share.
(This is a developing news story with updates to come.)
-James Rogers
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April 16, 2025 07:58 ET (11:58 GMT)
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