Abbott Notes $1.46 Billion Expense for Tax Reform -- Earnings Review

By Allison Prang Features Dow Jones Newswires

Abbott Laboratories reported its fourth-quarter earnings on Wednesday. Here's what you need to know.

Continue Reading Below

PROFIT/LOSS: Abbott said it lost 50 cents a share in the fourth quarter mostly because of $1.46 billion in expenses related to tax reform, it said. The company made 74 cents a share not including that impact and others, beating estimates of analysts polled by Thomson Reuters of 73 cents.

REVENUE: Comparable operational sales rose 7.7%. The company said established pharmaceuticals sales grew by 14%.

GUIDANCE: Abbott expects adjusted earnings for 2018 to be between $2.80 and $2.90 a share. For the first quarter of 2018, it expects adjusted earnings per share of between 57 and 59 cents.

STOCK MOVE: Shares rose 2.7% premarket Wednesday and is up 47% in the past year.

Write to Allison Prang at allison.prang@wsj.com

Continue Reading Below

(END) Dow Jones Newswires

January 24, 2018 09:12 ET (14:12 GMT)