Will Abbott's (ABT) Q2 Earnings Gain From Overall Growth?
Zacks Investment Research | Jul 14, 2019 10:26PM ET
Abbott Laboratories (NYSE:ABT) is slated to report second-quarter 2019 results on Jul 17, before the market opens. In the last reported quarter, the company came up with a positive surprise of 3.28%. Abbott delivered positive surprises in three of the trailing four quarters, the average beat being 1.86%.
Let's see, how things are shaping up for this announcement.
Factors at Play
Over the last few quarters, Abbott has been riding high on a healthy growth curve within its Diabetes Care business. The company has been hogging the limelight for developments in the flagship, sensor-based continuous glucose monitoring (CGM) system — FreeStyle Libre System.
In the last reported quarter, sales surged at a stupendous rate (up 40% year over year), led by FreeStyle Libre. Libre is once again expected to perform exceptionally well, registering strong worldwide sales in the to-be-reported quarter. In the first quarter, Libre sales growth was 80%.
According to Abbott, FreeStyle Libre has achieved global leadership among CGM systems for both Type 1 and Type 2 users. In order to meet the spurt in demand for Libre, Abbott is currently adding a significant amount of new manufacturing capacity, which will come online, starting from the second half of 2019.
Meanwhile, on Jun 17, the company announced the launch of its Afinion HbA1c Dx assay for use on the Afinion 2 Analyzer and the Afinion AS100 Analyzer. This is the first and the only rapid point-of-care test cleared by the FDA to aid the diagnosis of diabetes and the assessment of patients' risk of developing the condition.This new development is expected to contribute to the company’s to-be-reported quarter’s top line.
Abbott Laboratories Price and EPS Surprise
Zacks Investment Research
Get The News You Want
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.