AbbVie Cuts Q3, FY Adj. EPS Outlook

rttnews
2024.10.03 21:28

AbbVie Inc. has revised its adjusted earnings per share (EPS) outlook for Q3 and FY 2024 downwards due to acquisition-related expenses. The company now expects Q3 adjusted EPS to be between $0.88 and $0.92, down from $0.92 to $0.96, while the full-year forecast is adjusted to $0.67 to $0.87 from $0.71 to $0.91. Analysts had previously estimated Q3 earnings at $0.95 and full-year earnings at $0.88 per share.

AbbVie Inc. (ABBV), Thursday lowered its adjusted earnings per share outlook for the third quarter and the fiscal year 2024, citing acquisition-related IPR&D and milestones expenses of $82 million.

For the third quarter, the drug maker now expects adjusted EPS of $2.88 to $2.92 compared to previously estimated $2.92 to $2.96.

Analysts, on average, polled by Thomson Reuters estimate earnings to be $2.95 per share for the same period.

Additionally, AbbVie forecasts adjusted EPS of $10.67 to $10.87 compared to previously expected $10.71 to $10.91 for the full year 2024.

Analysts, on average, polled by Thomson Reuters estimate earnings to be $10.88 per share for the same period.

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