Advanced Bitcoin Technologies AG Q3 FY2020 Earnings Call

· Earnings call transcript and AI-powered summary

  • Organic Sales Growth: 10.5% year-over-year.
  • Ongoing EPS: $0.98, representing high-teens growth vs. Q3 2019.
  • Full-Year EPS Guidance Raised: Updated to at least $3.55, up from prior guidance due to continued performance momentum.

Business Segment Highlights

  • Nutrition: Sales up 4% overall.
    • Adult Nutrition up 12.5%, led by Ensure – demand driven by focus on immune health.
    • Pediatric Nutrition showed U.S. growth led by Pedialyte, with international sales affected by weakness in Greater China.
  • Established Pharmaceuticals: Sales declined 3%.
    • Emerging markets like India and Russia impacted by COVID-19, but showing signs of recovery entering Q4.
  • Medical Devices: Sales grew 2.5% overall.
    • Diabetes Care led with 25% growth; FreeStyle Libre grew more than 35%.
    • Libre 2 launched in the U.S.; Libre 3 and Libre Sense received CE Mark in Europe.
    • Electrophysiology, Heart Failure, Structural Heart, Neuromodulation all posted positive growth.
    • Vascular and CRM lagged due to procedure volume and pricing pressures.

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Operator: Good morning, and thank you for standing by. Welcome to Abbott's Third Quarter 2020 Earnings Conference Call. [Operator Instructions] This call is being recorded by Abbott. With the exception of any participant's 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 expressed 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 will 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 2020. Abbott cautions that these forward-looking statements are subject to risks and uncertainties, including the impact of the COVID-19 pandemic on Abbott's operations and financial results 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

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