Strong growth in the quarter was driven by continued recovery from the COVID-19 pandemic and strong growth in Diabetes Care. Restructuring and cost reduction plans consist of distinct initiatives to streamline operations including the consolidation and rationalization of business activities and facilities, workforce reductions, the transfer of product lines between manufacturing facilities, and the transfer of other business activities between sites. Third-quarter sales of $10.9 billion increased 23.4 percent on a reported basis and 22.4 percent on an organic basis, which excludes the impact of foreign exchange. Strategy and Strength | Jan. 27, 2021 Close out the fourth quarter of 2020 strong. In the third quarter of 2021, COVID-19 testing-related sales for Core Laboratory and Molecular Diagnostics were $47 million and $218 million, respectively. 2020 Tax expense on Earnings from Continuing Operations includes the recognition of approximately$170 million of tax benefits related to the impairment of certain assets, $140 million of net tax benefits as a result of the resolution of various tax positions related to prior years and approximately $100 million in excess tax benefits associated with share-based compensation. https://www.prnewswire.com/news-releases/abbott-reports-third-quarter-2021-results-achieves-strong-double-digit-earnings-growth-and-raises-guidance-301404421.html, Politicians Picks: Senior Delaware Senator Favors CVS, ABT, TSM Stocks, RBC Capital Reaffirms Their Buy Rating on Abbott Labs (ABT), Abbott Laboratories (ABT) is Attracting Investor Attention: Here is What You Should Know, The Zacks Analyst Blog Highlights Abbott Laboratories, ServiceNow, Schlumberger, Shopify and Workday, Top Research Reports for Abbott Laboratories, ServiceNow & Schlumberger, Monkeypox remains a global health emergency WHO, This Groundbreaking Device Just Keeps Winning for Abbott Labs, ABT FINAL DEADLINE TODAY: ROSEN, A TOP RANKED LAW FIRM, Encourages Abbott Laboratories Investors to Secure Counsel Before Important October 31 Deadline in Securities Class Action - ABT, Registration on or use of this site constitutes acceptance of our, Abbott projects full-year 2021 diluted EPS from continuing operations on a GAAP basis of, In August, Abbott announced U.S. FDA approval of its Amplatzer, In August, Abbott announced results of the company's GUIDE-HF clinical trial, which showed Abbott's CardioMEMS, In September, Abbott announced U.S. FDA approval of its Portico. Tax expense on Earnings from Continuing Operations (d), The table above provides additional details regarding the specified items described on table titled "Non-GAAP Reconciliation of Financial Information From Continuing Operations.". Following are sales by business segment and commentary for the third quarter 2021: Third-quarter 2021 worldwide sales of $10.9 billion increased 23.4 percent on a reported basis and 22.4 percent on an organic basis. "We achieved another quarter of strong growth overall and across all four of our major business areas," said Robert B. Ford, president and chief executive officer, Abbott. Rs 205.64Cr. Our portfolio of life-changing technologies spans the spectrum of healthcare, with leading businesses and products in diagnostics, medical devices, nutritionals and branded generic medicines. Global COVID-19 testing-related sales were $2.3 billion in the fourth quarter and $7.7 billion for the full-year. See tablestitled "Non-GAAP Reconciliation of Financial Information From Continuing Operations"for an explanation of certain non-GAAP financial information. Full-year 2021 guidance for diluted EPS from continuing operations on a GAAP basis reflects growth of 44.5 percent at the mid-point versus prior year. Excluding specified items, projected adjusted diluted earnings per share from continuing operations would be at least $4.70 for the full-year 2022. * Total Q4 2021 Abbott sales from continuing operations include Other Sales of approximately $3 million. 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. Specified items reflect intangible amortization expense of $2.047 billion and other net expenses of $827 million, primarily associated with restructuring actions, certain litigation, acquisitions and other expenses. An archived edition of the webcast will be available later that day. The website that you have requested also may not be optimized for your screen size. | June 17, 2022 * Total 9M 2021 Abbott sales from continuing operations include Other Sales of approximately $49 million. An archived edition of the webcast will be available later that day. 1 Global. Established Pharmaceuticals sales increased 16.4 percent on a reported basis and 14.5 percent on an organic basis in the second quarter. Strong performance of Abbott's market-leading oral hydration brand, Pedialyte, and continued share growth in infant nutrition led to U.S. Pediatric Nutrition growth of 20.2 percent. In the fourth quarter of 2019, Medical Devices sales were $3.204 billion. 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. See tables titled "Details of Specified Items" for additional details regarding specified items. In the nine months of 2019, worldwide sales were $23.590 billion. "Perhaps most impressively, excluding COVID testing-related sales, our sales grew more than 11 percent on an organic basis compared to pre-pandemic levels in the second quarter of 2019, which demonstrates the fundamental strength of our performance.". Seetitled "Details of Specified Items"for additional details regarding specified items. Strong growth in the quarter was driven by continued recovery from the COVID-19 pandemic and strong growth in Diabetes Care. 2021 Net Earnings and Diluted Earnings per Common Share from Continuing Operations, excluding Specified Items, excludes net after-tax charges of $1.919 billion, or $1.06 per share, for intangible amortization and other net expenses primarily associated with restructuring actions, certain litigation and acquisitions. Worldwide Diagnostics sales increased 2.9 percent on a reported basis in the fourth quarter and increased 3.3 percent on an organic basis. In Adult Nutrition, strong performance of Ensure, Abbott's market-leading complete and balanced nutrition brand, and Glucerna, Abbott's market-leading diabetes nutrition brand, led to global sales growth of 8.1 percent on a reported basis and 9.0 percent on an organic basis. No use of any Abbott trademark, trade name, or trade dress in this site may be made without the prior written authorization of Abbott, except to identify the product or services of the company. Based on the company's strong performance including double-digit earnings and sales growth and the company's outlook, Abbott raised its 2021 adjusted diluted earnings-per-share 1 (EPS) guidance from continuing operations to $5.00 - 5.10, 2 which reflects 38.4% growth at the midpoint compared to last year. Fourth-quarter sales of $10.7. View original content:https://www.prnewswire.com/news-releases/abbott-reports-strong-fourth-quarter-2021-results-issues-2022-forecast-301468554.html, Plus500. ABBOTT PARK, Ill., April 20, 2022 /PRNewswire/ -- Abbott (NYSE: ABT) today announced financial results for the first quarter ended March 31, 2022. Note: Management believes that measuring sales growth rates on an organic basis is an appropriate way for investors to best understand the underlying performance of the business. Nine Months Ended September 30, 2021 and 2020. Following are sales by business segment and commentary for the fourth quarter 2021: Fourth-quarter 2021 worldwide sales of $11.5 billion increased 7.2 percent on a reported basis and 7.7 percent on an organic basis. The Gross Margin amount includes charges associated with a restructuring plan to align Abbott's manufacturing network for COVID-19 diagnostic tests with changes during the year in current and projected testing demand. Full-year 2021 COVID-19 testing-related sales were $7.679 billion. See tables titled "Details of Specified Items" for additional details regarding specified items. Global COVID-19 testing-related sales were $1.3 billion in the second quarter, led by combined sales of $1.0 billion from Abbott's BinaxNOW, Panbio and ID NOW rapid testing platforms. Reflects the net tax benefit associated with the specified items and excess tax benefits associated with share-based compensation. Full-year 2020 worldwide Diagnostic sales were $10.805 billion, which included COVID-19 testing-related sales of $3.878 billion in Diagnostics. Worldwide sales, excluding COVID-19 testing-related sales,2 increased 9.6 percent on a reported basis and 10.3 percent on an organic basis in the fourth quarter, and 15.2 percent on a reported basis and13.7 percent on an organic basis in the full year 2021. Restructuring and cost reduction plans consist of distinct initiatives to streamline operations including the consolidation and rationalization of business activities and facilities, workforce reductions, the transfer of product lines between manufacturing facilities, and the transfer of other business activities between sites. An archived edition of the webcast will be available later that day. Specified items reflect intangible amortization expense of $508 million and other net expenses of $143 million, primarily associated with acquisitions, restructuring actions and other expenses. Some statements in this news release may be forward-looking statements for purposes of the Private Securities Litigation Reform Act of 1995. 2021 Net Earnings and Diluted Earnings per Common Share from Continuing Operations, excluding Specified Items, excludes net after-tax charges of $1.501 billion, or $0.83 per share, for intangible amortization and other net expenses primarily associated with restructuring actions, certain litigation and acquisitions. Other primarily relates to the impairment of an investment. Our 113,000 colleagues serve people in more than 160 countries. Third-quarter sales of $10.4 billion decreased 4.7 percent on a reported basis and increased 1.3 percent on an organic basis, which excludes the impact of foreign exchange. Other primarily relates to the costs related to certain litigation, the acquisition of a research and development asset, the impairments of an equity investment and an intangible asset, and the gain on the disposition of an equity method investment. Compared to pre-pandemic sales in 2019, worldwide sales, excluding COVID-19 testing-related sales3, increased 11.7 percent on both a reported and organic basis in the third quarter. 2020 Net Earnings and Diluted Earnings per Common Share from Continuing Operations, excluding Specified Items, excludes net after-tax charges of $2.081 billion, or $1.16 per share, for intangible amortization expense, impairment charges and other net expense primarily associated with acquisitions, restructuring actions and income from a litigation settlement. '' for additional Details regarding specified items '' for additional Details regarding specified,... Operations would be at least $ 4.70 for the full-year, worldwide sales were $ 3.204.... 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