Abbott forecasts first-quarter profit below estimates (updated)

Edwards Lifesciences

22/01/2025 12:18

(Adds forecast details, shares)
       Jan 22 (Reuters) - Abbott Laboratories  ABT.N  on
Wednesday forecast first-quarter profit below Wall Street
estimates, along with weak fourth-quarter sales in segments
other than medical devices, sending its shares down 1% in
premarket trading.
        The company expects a first-quarter adjusted profit of
$1.05 to $1.09 per share, missing analysts' average estimate of
$1.11.
  
        Revenue for the fourth quarter rose 7.2% to $10.97
billion, but missed analysts' average estimate of $11.01
billion, according to estimates compiled by LSEG.
  
        While sales in the company's medical devices segment
beat estimates, its nutrition, diagnostics, and generic drug
units missed estimates.
  
    Sales of continuous glucose monitors such as Abbott's
FreeStyle Libre and rivals from DexCom  DXCM.O  have been lifted
by increasing diabetes care awareness, bigger insurance coverage
and preference for devices that do not need finger pricks.
    Abbott expects an adjusted profit of $5.05 to $5.25 per
share for 2025, compared with analysts' average profit
expectation of $5.16.
    On an adjusted basis, the company reported a quarterly
profit of $1.34 per share, in line with analysts' average
expectations.

 (Reporting by Christy Santhosh and Puyaan Singh in Bengaluru;
Editing by Maju Samuel)
 ((Christy.Santhosh@thomsonreuters.com;))