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Abbott Reports Impressive Financial Results for Q4 and Full Year 2024

Abbott Laboratories (NYSE: ABT) has concluded the year 2024 with solid financial results, showing remarkable growth in both sales and earnings. For the fourth quarter ending December 31, 2024, Abbott generated sales of approximately $11.0 billion, reflecting a 7.2% increase compared to the same period in the previous year. Organic sales growth, factoring out foreign exchange fluctuations and discontinued products, reached an impressive 10.1%. Furthermore, the full-year sales totaled $42.0 billion, marking a 4.6% growth year-over-year.

Key Highlights from Q4 2024

• - Fourth-Quarter Earnings Per Share: The reported diluted EPS was $5.27, presenting a significant uptick, while the adjusted diluted EPS, excluding certain specified items, was $1.34.
• - Sales Growth Drivers: The increase in sales can be attributed largely to a robust performance across various business segments, particularly Medical Devices, which maintained double-digit growth of 13.7% on a reported basis.
• - Diagnostics and Nutrition: Despite the decline in COVID-19 testing sales, which dropped to $176 million, Abbott reported strong organic growth in its diagnostics division, particularly in respiratory disease testing. Nutritional products also saw a significant rise in demand, driven mainly by the success of market-leading brands like Ensure® and Glucerna®.

Full-Year Overview

In total, Abbott's full-year 2024 results confirmed the company's ability to not only meet but exceed initial guidance for organic sales growth and adjusted earnings per share. This was reaffirmed by CEO Robert B. Ford, who stated, “We finished the year with very strong momentum… are well-positioned to deliver another year of strong growth in 2025.”

• - Gross Margin Improvements: For 2024, the company achieved an improvement of 60 basis points in gross margin compared to 2023, along with an increase of 150 basis points projected for the 2025 operating margin.
• - Strategic Advancements: Abbott announced over 15 new growth opportunities throughout the year, reinforcing its commitment to innovation and market leadership.

2025 Financial Outlook

Looking ahead, Abbott anticipates full-year 2025 organic sales growth in the range of 7.5% to 8.5%, with an adjusted operating margin projected between 23.5% to 24.0% of sales. The anticipated adjusted diluted EPS for 2025 is estimated between $5.05 and $5.25, indicating potential for double-digit growth at the midpoint.

The company has continually exhibited resilience and adaptability in a challenging economic landscape. As Abbott continues to innovate and expand its product offerings, the outlook for 2025 appears promising, reaffirming faith in the management’s strategies and execution capabilities.

Additional Details

The consistent performance reflects Abbott's commitment to its shareholders. On December 13, 2024, Abbott's board declared a quarterly dividend of $0.59 per share, marking its 404th consecutive quarterly dividend, underscoring the company's strong financial health and shareholder value proposition.

As Abbott prepares for a robust 2025, stakeholders can expect ongoing updates through the company’s investor relations channels and upcoming earnings call. Overall, Abbott reaffirms its status as a leader in the global healthcare market, dedicated to delivering solutions that improve health outcomes across the globe.

For further insights, connect with Abbott at www.abbott.com or follow them on their social media platforms.