🔹 Adj EPS: $1.30 (Est. $1.30) 🟢
🔹 Revenue: $11.37B (Est. $11.4B) 🔴; UP +6.9% YoY
🔹 Organic Sales Growth: +5.5% (or +7.5% excl. COVID-19 testing)
Full-Year 2025 Guidance (Reaffirmed):
🔹 Organic Sales Growth: 7.5% to 8.0% (excl. COVID-19 testing)
🔹 Organic Sales Growth: 6.0% to 7.0% (incl. COVID-19 testing)
🔹 Adj EPS: $5.12 to $5.18 (midpoint reaffirmed, range narrowed)
Q3 Operating Metrics:
🔹 Reported Operating Margin: 18.1%
🔹 Adjusted Operating Margin: 23.0%; UP +40 bps YoY
🔹 U.S. Sales: $4.30B; UP +2.3% YoY
🔹 International Sales: $7.07B; UP +9.9% YoY
Nutrition:
🔹 Revenue: $2.15B; UP +4.2% reported, +4.0% organic
🔸 Pediatric Nutrition: $977MM; UP +2.3% reported, +2.4% organic
🔸 Adult Nutrition: $1.18B; UP +5.8% reported, +5.4% organic
Diagnostics:
🔹 Revenue: $2.25B; DOWN -6.6% reported, -7.8% organic
🔹 UP +0.4% organic excl. COVID-19 testing
🔸 COVID-19 Testing Sales: $69MM vs. $265MM in 3Q24
🔸 Core Laboratory: $1.36B; UP +3.8% reported, +2.2% organic
🔸 Point of Care: $158MM; UP +8.2% reported, +7.8% organic
🔸 Rapid Diagnostics: $600MM; DOWN -27.3% reported, -27.7% organic
Established Pharmaceuticals:
🔹 Revenue: $1.51B; UP +7.5% reported, +7.1% organic
🔸 Key Emerging Markets: $1.10B; UP +10.3% reported, +11.1% organic
Medical Devices:
🔹 Revenue: $5.45B; UP +14.8% reported, +12.5% organic
🔸 Diabetes Care: $2.06B; UP +19.3% reported, +16.2% organic
CGM Sales: $2.0B; UP +20.5% reported, +17.2% organic
🔸 Electrophysiology: $705MM; UP +15.6% reported, +13.7% organic
🔸 Rhythm Management: $686MM; UP +15.0% reported, +13.0% organic
🔸 Structural Heart: $635MM; UP +13.6% reported, +11.3% organic
🔸 Heart Failure: $366MM; UP +13.3% reported, +12.1% organic
🔸 Vascular: $745MM; UP +6.6% reported, +4.7% organic
🔸 Neuromodulation: $254MM; UP +7.6% reported, +6.8% organic
CEO Robert Ford's Commentary:
🔸 "Our third-quarter