Abbott concluded 2024 with significant momentum. While Diagnostics saw headwinds due to declining COVID-19 test sales, the Medical Devices and Nutrition segments delivered substantial growth, meeting strategic and financial guidance targets.
📊 Income Statement Highlights (vs. Q4 FY23):
▫️Net Sales: $10.97B vs. $10.24B (+7.16%)
▫️Net Income (GAAP): $9.23B vs. $1.59B (non-cash tax-related adjustment)
▫️Net Income (Adjusted): $2.35B vs. $2.09B (+12.20%)
▫️EPS (GAAP): $5.27 vs. $0.91
▫️Adjusted EPS: $1.34 vs. $1.19 (+12.61%)
▫️Gross Margin (GAAP): $5.57B (+6.98%)
▫️Operating Margin (Adjusted): 25.18% (+60 bps YoY)
▫️R&D Spend: $0.75B (+6.97%)
▫️SG&A Expense: $2.91B (+6.72%)
Segment Performance (Q4 FY24 vs. Q4 FY23):
▫️Medical Devices: $5.05B (+13.69%), driven by FreeStyle Libre ($1.80B; +22.75%).
▫️Diagnostics: $2.52B (-0.57%). Excluding COVID-19 tests: +6.07%.
▫️Nutrition: $2.13B (+4.50%), led by Ensure and Glucerna in Adult Nutrition (+7.38%).
▫️Established Pharmaceuticals: $1.27B (+3.83%), driven by growth in gastroenterology and women’s health.
💼 Balance Sheet Highlights (vs. FY23):
▫️Total Assets: $74.22B (-2.34%)
▫️Total Liabilities: $43.11B (-4.10%)
▫️Shareholder Equity: $31.11B (+1.18%)
🔮 Future Outlook:
▫️2025 Organic Sales Growth: 7.5%–8.5%.
▫️2025 Adjusted EPS: $5.05–$5.25 (+10.00% at midpoint).
▫️Abbott plans continued growth with over 15 product launches announced in 2024.