Advanced Bitcoin Technologies AG Q1 FY2021 Earnings Call

· Earnings call transcript and AI-powered summary

  • Earnings: Ongoing earnings per share (EPS) of $1.32, representing over 100% growth vs. Q1 2020.
  • Sales: Company-wide organic sales growth of 33% YoY. U.S. sales grew 34%; international 32%.
  • EPS Guidance: Abbott reaffirmed adjusted full-year 2021 EPS guidance of at least $5, a 35%+ increase from FY 2020.
  • COVID-19 Testing Revenue: $2.2 billion in the quarter, with 85% from rapid testing platforms (ID NOW, BinaxNOW, Panbio).

Segment Highlights

  • Nutrition:
    • Sales grew nearly 6.5% YoY.
    • Adult Nutrition: +18% (Ensure and Glucerna strong performers).
    • Pediatric Nutrition: -2.5%, impacted by tough YoY comps from 2020 pandemic pantry stocking.
  • Diagnostics:
    • Sales up 115% YoY, driven by COVID-19 tests and recovery in base diagnostic business.
    • Core Lab & Molecular Diagnostics (excluding COVID) delivered double-digit growth.
    • BinaxNOW OTC test received FDA EUA in Q1; began shipping to U.S. retailers.
  • Established Pharmaceuticals:
    • Sales up over 6% YoY.
    • Notable growth in India, China, and Brazil.

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Operator: Good morning, and thank you for standing by. Welcome to Abbott's First Quarter 2021 Earnings Conference Call. [Operator Instructions] This call is being recorded by Abbott. With the exception of any participants' questions asked during the question-and-answer session, the entire call, including the question-and-answer session, is material copyrighted by Abbott. It cannot be recorded or rebroadcast without Abbott's express written permission. I would now like to introduce Mr. Scott Leinenweber, Vice President, Investor Relations, Licensing and Acquisitions. Scott Leinenweber: Good morning, and thank you for joining us. With me today are Robert Ford, President and Chief Executive Officer; and Bob Funck, Executive Vice President, Finance, and Chief Financial Officer. Robert and Bob will provide opening remarks. Following their comments, we'll take your questions. Before we get started, some statements made today may be forward-looking for purposes of the Private Securities Litigation Reform Act of 1995, including the expected financial results for 2021. Abbott cautions that these forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those indicated in the forward-looking statements. Economic, competitive, governmental, technological and other factors that may affect Abbott's operations are discussed in Item 1A Risk Factors to our annual report on Form 10-K for the year ended December 31, 2020. Abb

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