Q1 2026 Abbott Laboratories Earnings Call Transcript
Key Points
- Abbott Laboratories (ABT) delivered adjusted earnings per share of $1.15, consistent with guidance despite earlier than planned financing costs and a weaker-than-expected respiratory season.
- The acquisition of Exact Sciences is expected to add approximately $3 billion of incremental sales in 2026, strengthening Abbott's position in cancer diagnostics.
- Sales in the Medical Devices segment grew 8.5%, led by strong performance in cardiovascular devices, including double-digit growth in electrophysiology and heart failure.
- The Core Lab Diagnostics segment saw a 3% growth, driven by strong performance in the US, Europe, and Latin America.
- Abbott Laboratories (ABT) is confident in accelerating growth in the second half of the year, driven by strategic initiatives in Nutrition, electrophysiology, and core lab diagnostics.
- Sales in the Rapid and Molecular Diagnostics business declined 10% due to lower demand for respiratory virus testing.
- The Nutrition segment faced challenges with lower sales volumes and strategic pricing actions impacting growth.
- The integration of Exact Sciences resulted in a $0.20 dilution to the full-year adjusted earnings per share guidance.
- The CGM market showed weak prescription trends in the US, raising concerns about market saturation.
- Structural Heart business faced increased competitive intensity, particularly in the mitral space, impacting growth.
Good morning and thank you for standing by. Welcome to Abbott's first quarter 2026 earnings conference call. (Operator Instructions). This call is being recorded by Abbott. With the exception of any participant's questions asked during the question-and-answer session, the entire call, including the question-and-answer session, is material copyrighted by Abbott. It cannot be recorded or rebroadcast without Abbott's expressed written permission. I would now like to introduce Mr. Mike Comilla, Vice President, Investor Relations.
Good morning, and thank you for joining us. With me today are Robert Ford, Chairman and Chief Executive Officer; and Phil Boudreau, Executive Vice President, Finance and Chief Financial Officer. Robert and Phil will provide opening remarks.
Following their comments, we'll take your questions. Before we get started, statements made today may be forward-looking for purposes of the Private Securities Litigation Reform Act of 1995, including the
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