Abbott Laboratories: Q1 FY2026 earnings call

What management said about Q1 FY2026, from the documents filed with the SEC on 16 April 2026: press release. Guidance figures: 1 lowered, 2 new, 1 kept. The quarter’s numbers.

Key takeaways

Comparable sales growth of 3.7 percent: Reported sales rose 7.8% to $11,164 million. Comparable growth of 3.7% includes Exact Sciences prior and current year sales and excludes foreign exchange. Source
Adjusted EPS up, GAAP EPS down: GAAP diluted EPS was $0.61 against $0.76 a year earlier. Adjusted diluted EPS of $1.15 compares with $1.09 a year earlier. Source
Medical Devices led growth: Medical Devices sales rose 13.2% reported and 8.5% comparable to $5,539 million. Electrophysiology, Heart Failure and Rhythm Management grew double digits. Source
SG&A rose 22.2 percent: SG&A reached $3,740 million, up 22.2%. Operating earnings fell 20.6% to $1,345 million in the quarter. Source
Nutrition volumes fell: Nutrition results reflect lower sales volumes than a year earlier and strategic pricing actions taken in the fourth quarter of 2025. Source
Exact Sciences deal closed: Abbott completed the Exact Sciences acquisition on March 23, 2026, adding oncology diagnostics as a new business. Source

“Our first-quarter results were aligned with our expectations to start the year,”
Robert B. Ford, chairman and chief executive officer, Abbott

Guidance

Area	Period	Figure	Against last quarter
Comparable sales growth Source	full-year 2026	6.5% to 7.5%	Kept
Adjusted diluted EPS Source	full-year 2026	$5.38 to $5.58	Lowered from $5.55 to $5.80
Exact Sciences dilution to adjusted EPS Source	full-year 2026	$0.20	New
Adjusted diluted EPS Source	second quarter 2026	$1.25 to $1.31	New

What changed from last quarter

Guidance lowered: Full-year 2026 adjusted diluted EPS range lowered from $5.55 to $5.80 to $5.38 to $5.58. Source
New guidance: Second-quarter 2026 adjusted diluted EPS range given for the first time in these releases. Source
Guidance kept: Full-year sales growth range held at 6.5% to 7.5%, now labelled comparable rather than organic. Source
New: Exact Sciences acquisition completed on March 23, 2026. Source
New: Exact Sciences sales are reported in a new Cancer Diagnostics business within Diagnostics. Source
New: Amulet device and accessories moved from Structural Heart to Electrophysiology on January 1, 2026. Source
New: Rapid Diagnostics, Molecular Diagnostics and Point of Care businesses combined into one reporting business from 2026. Source
Ended: Structural Heart compensation payments from a competitor agreement ended; the final payment was recognized in the first quarter of 2026. Source

Results and growth drivers

Comparable sales growth of 3.7 percent: Reported sales rose 7.8% to $11,164 million. Comparable growth of 3.7% includes Exact Sciences prior and current year sales and excludes foreign exchange. Source
Adjusted EPS up, GAAP EPS down: GAAP diluted EPS was $0.61 against $0.76 a year earlier. Adjusted diluted EPS of $1.15 compares with $1.09 a year earlier. Source
Exact Sciences added to comparable sales: Comparable figures add $706 million of Exact Sciences sales from before the March 23 close. Reported Cancer Diagnostics sales were $96 million. Source

Segments and regions

Medical Devices led growth: Medical Devices sales rose 13.2% reported and 8.5% comparable to $5,539 million. Electrophysiology, Heart Failure and Rhythm Management grew double digits. Source
Diagnostics grew modestly: Diagnostics sales rose 6.1% reported and 1.8% comparable to $2,180 million, including $96 million from Cancer Diagnostics after the Exact Sciences close. Source
Cologuard growth in Cancer Diagnostics: Cancer Diagnostics growth was led by double-digit Cologuard growth and Cancerguard sales, the multi-cancer screening test launched last year. Source
Nutrition sales declined: Nutrition sales fell 6.0% reported and 7.7% comparable to $2,017 million. U.S. Nutrition sales fell 11.6%. Source

“The acquisition of Exact Sciences adds another high-growth business to the Abbott portfolio, further strengthening our confidence in delivering accelerating growth as we move through the year.”
Robert B. Ford, chairman and chief executive officer, Abbott

Costs, margins and pricing

SG&A rose 22.2 percent: SG&A reached $3,740 million, up 22.2%. Operating earnings fell 20.6% to $1,345 million in the quarter. Source
Acquisition costs in specified items: Specified items before tax totalled $936 million, including $449 million of acquisition or divestiture-related expense such as accelerated equity awards. Source
Amortization and other items excluded: Intangible amortization of $422 million and other specified net expenses of $514 million are excluded from adjusted results. Source
Tax adjustments on prior benefit: The GAAP tax rate was 25.6%. Taxes include about $200 million of adjustments tied to a prior non-cash deferred tax benefit. Source

Demand and volumes

Nutrition volumes fell: Nutrition results reflect lower sales volumes than a year earlier and strategic pricing actions taken in the fourth quarter of 2025. Source
Core lab tests grew sequentially: Core Laboratory test sales rose both year over year and from the prior quarter. Source
Respiratory testing demand lower: Rapid and Molecular Diagnostics comparable sales fell 9.6%. Management attributed the decline to a respiratory virus season that ran lower than the prior year. Source

Acquisitions and portfolio changes

Exact Sciences deal closed: Abbott completed the Exact Sciences acquisition on March 23, 2026, adding oncology diagnostics as a new business. Source
Cancer Diagnostics reported as segment: Exact Sciences sales are now reported in a new Cancer Diagnostics business within Diagnostics. Source
Amulet moved to Electrophysiology: The Amulet device and accessories moved from Structural Heart to Electrophysiology, shifting $46 million of first-quarter 2025 sales between segments. Source
Diagnostics businesses combined: Rapid Diagnostics, Molecular Diagnostics and Point of Care were combined into one reporting business from 2026. Source

Guidance and the year ahead

Full-year EPS range lowered: Full-year adjusted EPS range is $5.38 to $5.58, down from $5.55 to $5.80, and includes $0.20 of Exact Sciences dilution. Source
Sales growth range held: Full-year comparable sales growth range is unchanged at 6.5% to 7.5%, the same range previously given as organic growth. Source
Second-quarter EPS range set: Second-quarter 2026 adjusted EPS guidance is a new range of $1.25 to $1.31. Source

Pipeline and people

AtaCor collaboration on EV-ICD: Abbott announced a January collaboration with AtaCor Medical to develop a next-generation extravascular implantable cardioverter system. Source
Amulet 360 early VERITAS results: February VERITAS study results showed clinically meaningful closure rates for the investigational Amulet 360 LAA Occluder. Source
Colleague count rose: Abbott reports 122,000 colleagues serving people in more than 160 countries, up from 115,000 in the prior release. Source

Capital and shareholder returns

Quarterly dividend held at $0.63: The board declared the $0.63 quarterly dividend on February 20, 2026, the 409th consecutive quarterly dividend. Source
Dividend increases for 54 years: Management says Abbott has increased its dividend payout for 54 consecutive years and is an S&P 500 Dividend Aristocrat. Source
Diluted share count flat: Average shares outstanding plus dilutive options were 1,747 million in both the first quarter of 2026 and the first quarter of 2025. Source

Coming up, as management said on 16 April 2026

Dividend payable May 15: Quarterly dividend of $0.63 is payable May 15, 2026 to holders of record on April 15, 2026. Source
Nutrition volume growth expected: Management expects pricing actions and new product launches to lift Nutrition volume growth over the course of the year. Source

Figures management reported

Figure	Reported
Established Pharmaceuticals sales Source	$1,426 million; up 13.2% reported, 9.0% comparable
Key Emerging Markets sales Source	$1,089 million; up 12.9% reported, 9.4% comparable
Research and development expense Source	$767 million, up 7.2% from $716 million
Diabetes Care sales Source	$2,080 million; continuous glucose monitor sales up 14.2% reported
FreeDM2 trial readout Source	0.6% HbA1c reduction versus fingerstick monitoring

Risks management discussed

Financial: Management cannot predict the timing and size of restructuring, impairments, acquisition costs and foreign exchange, so GAAP results cannot be forecast. Source
Regulatory: Costs to comply with EU device rules for already approved products are included in specified items and excluded from adjusted results. Source
Operational: Integrating Exact Sciences and other acquired businesses produces incremental costs that are treated as specified items. Source

Earlier plans management reported on

Ahead: Prior release expected closing in the second quarter of 2026. The acquisition completed on March 23, 2026.
Not stated: Prior release gave a first-quarter 2026 adjusted EPS range. This release does not say whether results fell within that range.

Other quarters

Summarised with AI from the documents the company filed with the SEC. Every point is checked against the filing before it is shown: management’s own words word for word, figures against the line or table row they come from. A point that fails the check is left out. Source opens the filing at that line.

As filed with the SEC

Open the filing on EDGAR

Abbott Reports First-Quarter 2026 Results; Updates Guidance to Reflect Acquisition of Exact Sciences

- First-quarter GAAP diluted EPS of $0.61; adjusted diluted EPS of $1.15 reflects growth of 6 percent

- Completed acquisition of Exact Sciences, establishing Abbott as a leader in the fast-growing oncology diagnostics market

- Abbott projects full-year 2026 comparable sales growth of 6.5% to 7.5%

- Abbott projects full-year 2026 adjusted diluted EPS of $5.38 to $5.58, which includes $0.20 of dilution related to the acquisition of Exact Sciences

ABBOTT PARK, Ill., April 16, 2026 - Abbott today announced financial results for the first quarter ended March 31, 2026.

First-quarter sales increased 7.8 percent on a reported basis and 3.7 percent on a comparable basis.
First-quarter GAAP diluted EPS of $0.61 and adjusted diluted EPS of $1.15, which excludes specified items and reflects growth of 6 percent.
On March 23, 2026, Abbott completed its acquisition of Exact Sciences, establishing the company as a leader in the oncology diagnostics market and adding a new high-growth vertical to Abbott's portfolio.
Abbott projects full-year 2026 comparable sales growth of 6.5% to 7.5%.
Abbott projects full-year 2026 adjusted diluted EPS of $5.38 to $5.58, which includes $0.20 of dilution related to the acquisition of Exact Sciences.
In January, Abbott announced a collaboration with AtaCor Medical to develop a next-generation extravascular implantable cardioverter (EV-ICD) system designed to deliver defibrillation therapy to people living with life-threatening heart rhythms.
In February, Abbott announced positive early results from the VERITAS study that show clinically meaningful closure rates of the investigational Amulet 360™ Left Atrial Appendage (LAA) Occluder, a next-generation device designed to reduce the risk of stroke in patients with atrial fibrillation (AFib).
In March, Abbott announced results from the FreeDM2 randomized controlled trial, demonstrating that people with Type 2 diabetes on basal insulin who used FreeStyle Libre® achieved a 0.6% reduction in HbA1c and spent 2.5 more hours per day in the healthy glucose range compared to fingerstick monitoring.

"Our first-quarter results were aligned with our expectations to start the year," said Robert B. Ford, chairman and chief executive officer, Abbott. "The acquisition of Exact Sciences adds another high-growth business to the Abbott portfolio, further strengthening our confidence in delivering accelerating growth as we move through the year."

FIRST-QUARTER BUSINESS OVERVIEW

Comparable sales growth:

Management believes that measuring sales growth on a comparable basis is an appropriate way for investors to best understand the underlying performance of the business. Comparable sales growth includes the prior and current year sales of Exact Sciences, a cancer diagnostics company that Abbott acquired on March 23, 2026. Comparable sales growth excludes the impact of foreign exchange and revenue in both the prior and current year related to compensation payments that Abbott's Structural Heart business received as part of a multi-year agreement with a competitor. The final payment under this agreement was recognized in the first quarter of 2026.

Note: In order to compute results excluding the impact of exchange rates, current year U.S. dollar sales are multiplied or divided, as appropriate, by the current year average foreign exchange rates and then those amounts are multiplied or divided, as appropriate, by the prior year average foreign exchange rates.

First Quarter 2026 Results (1Q26)

Sales 1Q26 ($ in millions)	Total Company	Nutrition	Diagnostics	Established Pharmaceuticals	Medical Devices
U.S.	4,274	844	905	-	2,523
International	6,890	1,173	1,275	1,426	3,016
Total reported	11,164	2,017	2,180	1,426	5,539

% Change vs. 1Q25
U.S.	2.5	(11.6)	3.8		n/a	7.9
International	11.3	(1.5)	7.8	13.2		18.0
Total reported	7.8	(6.0)	6.1	13.2		13.2
Total reported excl. foreign exchange impact	3.8	(7.7)	2.5	9.0		8.1
Comparable sales growth	3.7	(7.7)	1.8	9.0		8.5
U.S.	2.5	(11.6)	2.0		n/a	8.7
International	4.6	(4.7)	1.6	9.0		8.3

Nutrition

First Quarter 2026 Results (1Q26)

Sales 1Q26 ($ in millions)	Total	Pediatric	Adult
U.S.	844	511	333
International	1,173	442	731
Total reported	2,017	953	1,064

% Change vs. 1Q25
U.S.	(11.6)	(13.0)	(9.2)
International	(1.5)	(2.6)	(0.9)
Total reported	(6.0)	(8.5)	(3.6)
Total reported excl. foreign exchange impact	(7.7)	(9.7)	(5.9)
Comparable sales growth	(7.7)	(9.7)	(5.9)
U.S.	(11.6)	(13.0)	(9.2)
International	(4.7)	(5.3)	(4.3)

Worldwide Nutrition sales decreased 6.0 percent on a reported basis and 7.7 percent on a comparable basis in the first quarter.

Results in the quarter reflect the impact of lower sales volumes compared to the prior year and the effect of strategic pricing actions implemented in the fourth quarter of 2025. These pricing actions, together with the launch of several new products, are expected to contribute to improved volume growth over the course of the year.

Diagnostics*

First Quarter 2026 Results (1Q26)

Sales 1Q26 ($ in millions)	Total	Core Laboratory	Cancer Diagnostics	Rapid/Molecular Diagnostics
U.S.	905	347	93	465
International	1,275	925	3	347
Total reported	2,180	1,272	96	812

% Change vs. 1Q25
U.S.	3.8	4.5		n/a	(13.8)
International	7.8	9.5		n/a	2.8
Total reported	6.1	8.1		n/a	(7.4)
Total reported excl. foreign exchange impact	2.5	3.3		n/a	(9.6)
Comparable sales growth	1.8	3.3	13.4		(9.6)
U.S.	2.0	4.5	13.2		(13.8)
International	1.6	2.8	19.2		(2.7)

*Beginning in 2026, Abbott aggregated its previously reported Rapid Diagnostics, Molecular Diagnostics, and Point of Care businesses into the Rapid and Molecular Diagnostics business. On March 23, 2026, Abbott completed the acquisition of Exact Sciences. Following the acquisition, the sales of Exact Sciences are presented as Abbott's Cancer Diagnostics business.

Worldwide Diagnostics sales increased 6.1 percent on a reported basis and increased 1.8 percent on a comparable basis.

Worldwide Core Laboratory Diagnostics results were driven by growth in the U.S., Europe and Latin America. Sales of Core Laboratory diagnostic tests increased on both a year-over-year and sequential basis.

Rapid and Molecular Diagnostics results reflect lower demand for respiratory virus tests due to a weaker respiratory virus season compared to the prior year.

Results in Cancer Diagnostics reflect Abbott's acquisition of Exact Sciences, which closed on March 23, 2026. Growth in Cancer Diagnostics was driven by double-digit growth of Cologuard® and sales of Cancerguard®, a multi-cancer screening test that launched last year.

Established Pharmaceuticals

First Quarter 2026 Results (1Q26)

Sales 1Q26 ($ in millions)	Total	Key Emerging Markets	Other
U.S.	-	-	-
International	1,426	1,089	337
Total reported	1,426	1,089	337

% Change vs. 1Q25
U.S.	n/a		n/a		n/a
International	13.2		12.9		14.1
Total reported	13.2		12.9		14.1
Total reported excl. foreign exchange impact	9.0		9.4		7.9
Comparable sales growth	9.0		9.4		7.9
U.S.		n/a		n/a		n/a
International	9.0		9.4		7.9

Established Pharmaceuticals sales increased 13.2 percent on a reported basis and 9.0 percent on a comparable basis in the first quarter.

Key Emerging Markets include several emerging countries that represent the most attractive long-term growth opportunities for Abbott's branded generics product portfolio. Sales in these geographies increased 12.9 percent on a reported basis and 9.4 percent on a comparable basis, led by double-digit growth in several countries across the Latin America and Asia Pacific regions.

Medical Devices

First Quarter 2026 Results (1Q26)

Sales 1Q26 ($ in millions)	Total	Rhythm Management	Electro- physiology*	Heart Failure	Vascular	Structural Heart*	Neuromodulation	Diabetes Care
U.S.	2,523	339	378	292	291	224	177	822
International	3,016	345	410	97	486	354	66	1,258
Total reported	5,539	684	788	389	777	578	243	2,080

% Change vs. 1Q25
U.S.	7.9	11.5	13.7	11.4	8.6	(9.5)	0.7	9.8
International	18.0	22.9	19.6	25.2	10.0	25.2	27.2	16.6
Total reported	13.2	17.0	16.7	14.6	9.5	9.0	6.8	13.8
Total reported excl. foreign exchange impact	8.1	12.5	12.5	12.2	4.9	3.6	4.1	7.4
Comparable sales growth	8.5	12.5	12.5	12.2	4.9	6.8	4.1	7.4
U.S.	8.7	11.5	13.7	11.4	8.6	(3.6)	0.7	9.8
International	8.3	13.5	11.2	14.9	2.7	15.0	15.5	5.7

*Abbott's Amplatzer Amulet Left Atrial Appendage Occluder device and related accessories were transferred from Structural Heart to Electrophysiology on Jan. 1, 2026. As a result, $46 million of sales in the first quarter of 2025 were moved from Structural Heart to Electrophysiology.

Worldwide Medical Devices sales increased 13.2 percent on a reported basis and 8.5 percent on a comparable basis in the first quarter.

Sales growth in the quarter was led by double-digit growth in Electrophysiology, Heart Failure and Rhythm Management.

In Diabetes Care, sales of continuous glucose monitors grew 14.2 percent on a reported basis and 7.6 percent on a comparable basis.

Abbott's Financial Guidance

Abbott projects full-year 2026 comparable sales growth of 6.5% to 7.5%.

Abbott projects full-year 2026 adjusted diluted earnings per share of $5.38 to $5.58, which includes $0.20 of dilution related to the acquisition of Exact Sciences.

Abbott projects second-quarter 2026 adjusted diluted earnings per share of $1.25 to $1.31.

Abbott has not provided the related GAAP financial measures on a forward-looking basis for these forward-looking non-GAAP financial measures because the company is unable to predict with reasonable certainty and without unreasonable effort the timing and impact of certain items such as restructuring and cost reduction initiatives, charges for intangible asset impairments, acquisition-related expenses, and foreign exchange, which could significantly impact Abbott's results in accordance with GAAP.

Abbott Declares 409Consecutive Quarterly Dividend

On Feb. 20, 2026, the board of directors of Abbott declared the company's quarterly dividend of $0.63 per share. Abbott's cash dividend is payable May 15, 2026, to shareholders of record at the close of business on April 15, 2026.

Abbott has increased its dividend payout for 54 consecutive years and is a member of the S&P 500 Dividend Aristocrats Index, which tracks companies that have annually increased their dividend for at least 25 consecutive years.

About Abbott:

Abbott is a global healthcare leader that helps people live more fully at all stages of life. 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. Our 122,000 colleagues serve people in more than 160 countries.

Connect with us at www.abbott.com and on LinkedIn, Facebook, Instagram, X and YouTube.

Abbott will live-webcast its first-quarter earnings conference call through its Investor Relations website at www.abbottinvestor.com at 8 a.m. Central time today. An archived edition of the webcast will be available later in the day.

Private Securities Litigation Reform Act of 1995 -

A Caution Concerning Forward-Looking Statements

Some statements in this news release may be forward-looking statements for purposes of the Private Securities Litigation Reform Act of 1995. 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" in our Annual Report on Form 10-K for the year ended Dec. 31, 2025, and are incorporated herein by reference. Abbott undertakes no obligation to release publicly any revisions to forward-looking statements as a result of subsequent events or developments, except as required by law.

1.In 2025, total worldwide sales were $44.328 billion, which included U.S. sales of $17.126 billion and international sales of $27.202 billion, and Abbott’s Structural Heart business received $89 million of compensation payments as part of a multi-year agreement with a competitor. Also in 2025, total worldwide sales for Exact Sciences were $3.247 billion, which included U.S. sales of $3.145 billion and international sales of $102 million.

Condensed Consolidated Statement of Earnings

	1Q26		1Q25		% Change
Net Sales		$11,164		$10,358	7.8
Cost of products sold, excluding amortization expense	4,890		4,468		9.5
Amortization of intangible assets	422		420		0.3
Research and development	767		716		7.2
Selling, general, and administrative	3,740		3,061		22.2
Total Operating Cost and Expenses	9,819		8,665		13.3
Operating Earnings	1,345		1,693		(20.6)
Interest expense, net	68		49		37.4
Net foreign exchange (gain) loss	(13)		(7)			n/m
Other (income) expense, net	(159)		(127)		24.8
Earnings before taxes	1,449		1,778		(18.5)
Taxes on Earnings	372		453		(18.0)		1)
Net Earnings		$1,077		$1,325	(18.7)
Net Earnings excluding Specified Items, as described below		$2,022		$1,919	5.4		2)
Diluted Earnings per Common Share		$0.61		$0.76		n/m
Diluted Earnings per Common Share, excluding Specified Items, as described below		$1.15		$1.09	5.5		2)
Average Number of Common Shares Outstanding Plus Dilutive Common Stock Options	1,747		1,747

NOTES:

See tables on page 11 for an explanation of certain non-GAAP financial information.

n/m = Percent change is not meaningful.

See footnotes on the following page.

1)2026 Taxes on Earnings includes the recognition of approximately $50 million of net tax benefit as a result of the resolution of various tax positions related to prior years. 2026 Taxes on Earnings also includes approximately $200 million in adjustments related to prior recognition of a significant non-cash deferred tax benefit.

2025 Taxes on Earnings includes approximately $200 million in adjustments related to prior recognition of a significant non-cash deferred tax benefit.

2)2026 Net Earnings and Diluted Earnings per Common Share, excluding Specified Items, excludes net after-tax charges of $945 million, or $0.54 per share, for intangible amortization, charges related to restructuring, acquisitions, and other net expenses.

2025 Net Earnings and Diluted Earnings per Common Share, excluding Specified Items, excludes net after-tax benefits of $594 million, or $0.33 per share, for intangible amortization, charges related to investment impairments, restructuring and cost reduction initiatives, expenses associated with acquisitions, and other net expenses.

Non-GAAP Reconciliation of Financial Information

	1Q26
	As Reported (GAAP)	Specified Items	As Adjusted
Intangible Amortization	$422	$(422)	$ -
Gross Margin	5,852	432	6,284
R&D	767	(24)	743
SG&A	3,740	(473)	3,267
Other (income) expense, net	(159)	(7)	(166)
Earnings before taxes	1,449	936	2,385
Taxes on Earnings	372	(9)	363
Net Earnings	1,077	945	2,022
Diluted Earnings per Share	$0.61	$0.54	$1.15

Specified items reflect intangible amortization expense of $422 million and other net expenses of $514 million associated with restructuring actions, acquisitions, and other net expenses. See page 14 for additional details regarding specified items.

	1Q25
	As Reported (GAAP)	Specified Items	As Adjusted
Intangible Amortization	$420	$(420)	$ -
Gross Margin	5,470	448	5,918
R&D	716	(27)	689
SG&A	3,061	(10)	3,051
Other (income) expense, net	(127)	(35)	(162)
Earnings before taxes	1,778	520	2,298
Taxes on Earnings	453	(74)	379
Net Earnings	1,325	594	1,919
Diluted Earnings per Share	$0.76	$0.33	$1.09

Specified items reflect intangible amortization expense of $420 million and other net expenses of $100 million associated with restructuring actions, acquisitions, investment impairments and other net expenses. See page 15 for additional details regarding specified items.

A reconciliation of the first-quarter tax rates for 2026 and 2025 is shown below:

	1Q26
($ in millions)	Pre-Tax Income	Taxes on Earnings	Tax Rate
As reported (GAAP)	$1,449	$372	25.6%	1)
Specified items	936	(9)
Excluding specified items	$2,385	$363	15.2%

	1Q25
($ in millions)	Pre-Tax Income	Taxes on Earnings	Tax Rate
As reported (GAAP)	$1,778	$453	25.5%	2)
Specified items	520	(74)
Excluding specified items	$2,298	$379	16.5%

2)2025 Taxes on Earnings includes approximately $200 million in adjustments related to prior recognition of a significant non-cash deferred tax benefit.

Non-GAAP Revenue Reconciliation

($ in millions)

	1Q26						1Q25				% Change vs. 1Q25
													Non-GAAP
	Abbott Reported	Impact of acquisition (a)	Impact of multi-year agreement (b)	Foreign exchange	Comparable Revenue		Abbott Reported	Impact of acquisition (a)	Impact of multi-year agreement (b)	Comparable Revenue	Reported		Comparable
Total Company	11,164	706	(8)	(414)	11,448		10,358	707	(24)	11,041	7.8		3.7
U.S.	4,274	681	(8)	-	4,947		4,168	684	(24)	4,828	2.5		2.5
Intl	6,890	25	-	(414)	6,501		6,190	23	-	6,213	11.3		4.6
Total Diagnostics	2,180	706	-	(76)	2,810		2,054	707	-	2,761	6.1		1.8
U.S.	905	681	-	-	1,586		871	684	-	1,555	3.8		2.0
Intl	1,275	25	-	(76)	1,224		1,183	23	-	1,206	7.8		1.6
Total Cancer Diagnostics	96	706	-	(1)	801		-	707	-	707		n/a	13.4
U.S.	93	681	-	-	774		-	684	-	684		n/a	13.2
Intl	3	25	-	(1)	27		-	23	-	23		n/a	19.2
Total Medical Devices	5,539	-	(8)	(249)	5,282		4,895	-	(24)	4,871	13.2		8.5
U.S.	2,523	-	(8)	-	2,515		2,339	-	(24)	2,315	7.9		8.7
Intl	3,016	-	-	(249)	2,767		2,556	-	-	2,556	18.0		8.3
Total Structural Heart*	578	-	(8)	(29)	541	-	531	-	(24)	507	9.0		6.8
U.S.	224	-	(8)	-	216	-	248	-	(24)	224	(9.5)		(3.6)
Intl	354	-	-	(29)	325	-	283	-	-	283	25.2		15.0

* The adjustment includes historical sales for Exact Sciences prior to the acquisition date. Exact Sciences was acquired by Abbott on March 23, 2026.
Reflects the impact of compensation payments that Abbott's Structural Heart business received as part of a multi-year agreement with a competitor. The final payment under this agreement was recognized in the first quarter of 2026.

Details of Specified Items

	Acquisition or Divestiture- related (a)	Restructuring and Cost Reduction Initiatives (b)	Intangible Amortization	Other (c)	Total Specifieds
Gross Margin	$2	$7	$422	$1	$432
R&D	(1)	(10)	-	(13)	(24)
SG&A	(444)	(33)	-	4	(473)
Other (income) expense, net	(2)	(2)	-	(3)	(7)
Earnings before taxes	$449	$52	$422	$13	936
Taxes on Earnings (d)					(9)
Net Earnings					$945
Diluted Earnings per Share					$0.54

The table above provides additional details regarding the specified items described on page 11.

a)Acquisition-related expenses include stock-based compensation recognized as expense from equity awards accelerated in connection with the Exact Sciences acquisition, integration costs that represent incremental costs directly related to integrating acquired businesses, as well as other costs related to business acquisitions.

b)Restructuring and cost reduction initiative expenses include severance, outplacement and other direct costs associated with specific restructuring plans.

c)Other includes incremental costs to comply with the European Union's Medical Device Regulations (MDR) and In Vitro Diagnostics Medical Device Regulations (IVDR) requirements for previously approved products.

d)Reflects the net tax benefit associated with the specified items and recognition of a tax benefit as a result of the resolution of various tax positions related to prior years. Taxes on Earnings includes approximately $200 million in adjustments related to prior recognition of a significant non-cash deferred tax benefit.

Details of Specified Items

First Quarter Ended March 31, 2025

	Acquisition or Divestiture- related (a)	Restructuring and Cost Reduction Initiatives (b)	Intangible Amortization	Other (c)	Total Specifieds
Gross Margin	$ -	$26	$420	$2	$448
R&D	(1)	(16)	-	(10)	(27)
SG&A	(3)	(7)	-	-	(10)
Other (income) expense, net	(24)	-	-	(11)	(35)
Earnings before taxes	$28	$49	$420	$23	520
Taxes on Earnings (d)					(74)
Net Earnings					$594
Diluted Earnings per Share					$0.33

The table above provides additional details regarding the specified items described on page 11.

a)Acquisition-related expenses include integration costs, which represent incremental costs directly related to integrating acquired businesses as well as a fair value adjustment to contingent consideration related to a business acquisition.

b)Restructuring and cost reduction initiative expenses include severance, outplacement and other direct costs associated with specific restructuring plans and cost reduction initiatives.

d)Reflects the net tax benefit associated with the specified items. 2025 Taxes on Earnings includes approximately $200 million in adjustments related to prior recognition of a significant non-cash deferred tax benefit.

Contacts
Abbott Financial:Michael Comilla, 224-668-1872Tamika McLoughlin, 224-399-5082Randy Blakley, 224-668-0036
Abbott Media:Karen Twigg May, 224-668-2681Kate Dyer, 224-668-9965