Advanced Bitcoin Technologies AG Q3 FY2022 Earnings Call
· Earnings call transcript and AI-powered summary
Abbott Q3 2022 Earnings Summary
- Earnings Per Share (EPS): Adjusted EPS of $1.15 for Q3 2022. Full-year adjusted EPS guidance raised to $5.17–$5.23 (up over 10% from initial January guidance).
- Total Sales: Organic sales increased 1.3% year-over-year. Excluding COVID testing and nutrition disruption in the U.S., organic sales rose 6%.
- COVID Testing Sales: $1.7 billion in Q3, down year-over-year due to reduced lab-based testing, but above expectations.
- Impact of FX and Macro Headwinds: Foreign exchange reduced sales by 6% in Q3 with $0.10 EPS impact expected in Q4. Inflation and manufacturing/logistics costs continue to pressure margins.
Business Segment Performance
- Established Pharmaceuticals (EPD): Sales grew 12% driven by India, China, Brazil, Vietnam. Double-digit growth continued since start of 2021.
- Diagnostics: Rapid testing (e.g., BinaxNOW) held steady year-over-year; routine diagnostics grew 6% excluding COVID testing. Alinity platform expanded globally.
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