Abbott Laboratories reported second-quarter sales growth of 4.8% on a comparable basis and raised its full-year adjusted earnings per share guidance to a range of $5.45 to $5.60. Adjusted EPS for the quarter was $1.31, exceeding the midpoint of the company's guidance. The company also raised its full-year comparable sales growth guidance to 6.5% to 7.5%. Medical Devices sales grew 8.5%, with Electrophysiology in the low-teens, Rhythm Management up 9.5%, and Heart Failure up 9%. Diagnostics sales saw a 7.5% increase in the US business, while Rapid and Molecular Diagnostics declined 8% due to a weaker respiratory virus season, and Cancer Diagnostics grew 13%. Nutrition sales rose sequentially by $125 million, and Established Pharmaceuticals sales grew 9%, driven by markets including India, Latin America, and Southeast Asia. Continuous glucose monitoring sales exceeded $2 billion with 9.5% growth. Adjusted gross margin was 58.0% of sales, a 100 basis point increase from the prior year.
Abbott LaboratoriesAbbott raised full-year EPS guidance and reported Q2 adjusted EPS above guidance midpoint.