Abbott beats Q1 2026 estimates with EPS $1.15 (+6% YoY), reaffirms 2026 growth outlook

 

Abbott beats Q1 2026 estimates with EPS $1.15 (+6% YoY), reaffirms 2026 growth outlook including Exact Sciences dilution

• Q1 revenue $11.16B grew 8% YoY, supporting an overall Q1 2026 beat versus analyst estimates.
• Q1 adjusted EPS $1.15 grew 6% YoY, in line with company expectations.
• Full-year 2026 comparable sales growth outlook maintained at 6.5%-7.5%, including Exact in both years.
• Abbott maintains full-year 2026 EPS outlook of $5.38–$5.58, reflecting dilution from its completed Exact Sciences acquisition.
• Full-year adjusted EPS guidance midpoint reduced to $5.48, reflecting $0.20 Exact Sciences dilution.
• Q2 adjusted EPS guided to $1.25-$1.31; FX expected +1% full-year sales tailwind, neutral in Q2.
• Comparable sales grew 3.7% YoY, with Med Devices +8.5% and EPD pharma +9%.
• Diagnostics grew 2%: Core Lab +3% offset by 10% respiratory testing decline.
• Libre/CGM revenue $2B grew 7.5%; management targets return to double-digit growth in Q2.
• Cancer diagnostics grew 13% on comparable basis, led by mid-teens Cologuard growth and strong international.
• Nutrition volumes declined on recent price reductions, but early data show improving volume response.
• Management tone confident but conservative, with main debate around H2 acceleration, CGM trends, and Exact growth.
• Main concern: Execution risk around second-half growth acceleration, especially Nutrition recovery, CGM reacceleration, and diagnostics rebound.

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