Abbott Laboratories posted lower-than-expected sales in its latest quarter, dented in part by diminished demand for Covid-19 testing-related products.
The healthcare-products manufacturer logged fourth-quarter earnings of $9.23 billion, or $5.27 a share, compared to $1.59 billion, or $1.91 cents a share, a year earlier.
Stripping out certain one-time items, earnings came in at $1.34 a share. Analysts polled by FactSet expected $1.33 a share.
Sales rose 7.2% to $10.97 billion from $10.24 billion. Analysts polled by FactSet expected $11.03 billion.
Excluding Covid-19 testing-related sales, Abbott said sales grew around 10%.
"Sales growth and earnings per share growth in the fourth quarter were the highest of the year," said Chief Executive Robert Ford.
Abbott forecast adjusted earnings per share in the first quarter to come in between $1.05 and $1.09. Analysts polled by FactSet expect $1.11 a share.
For full-year 2025, the company forecast organic sales growth between 7.5% and 8.5% as well as adjusted earnings per share in the range of $5.05 and $5.25. Analysts polled by FactSet expect $42 billion in sales and adjusted earnings of $5.16 a share.
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