Abbott(ABT)2025-04-16 11:36Financial Performance - First-quarter GAAP diluted EPS was 1.09, reflecting double-digit growth compared to the prior year[3] - First-quarter reported sales increased by 4.0%, with organic sales growth of 6.9% or 8.3% when excluding COVID-19 testing-related sales[3] - Abbott's total sales for the first quarter reached 4.168 billion and international sales at 10.358 billion, a 4.0% increase from 1.693 billion in Q1 2025, a 22.1% increase compared to 1.325 billion, an 8.2% increase from 0.76 in Q1 2025, up 8.6% from 1.7 billion, growing 18.3% on a reported basis[16] - Established Pharmaceuticals sales increased by 2.7% on a reported basis and 7.8% on an organic basis in the first quarter[13] - Total Diagnostics sales in Q1 2025 were 2.214 billion in Q1 2024, with COVID-19 testing-related sales decreasing from 84 million[27] - Organic sales, excluding COVID-19 testing-related sales, increased by 8.3% for Abbott and 0.5% for total Diagnostics[27] Margins and Expenses - Reported gross margin was 52.8%, while adjusted gross margin increased by 140 basis points to 57.1%[3] - Abbott's gross margin for Q1 2025 was 5.029 billion in Q1 2024[33] - Research and development expenses increased by 4.6% to 684 million in Q1 2024[29] - The company reported a tax rate of 25.5% for Q1 2025, compared to 14.7% for Q1 2024[35] Future Outlook and Investments - The company reaffirmed its full-year 2025 financial guidance, projecting organic sales growth of 7.5% to 8.5%[18] - Abbott initiated a U.S. pivotal trial, TECTONIC, for its investigational Coronary Intravascular Lithotripsy System in March 2025[3] - Abbott's two new manufacturing and R&D investments in Illinois and Texas, totaling 0.59 per share, marking 53 consecutive years of dividend increases[21] Expenses and Charges - Acquisition-related expenses include integration costs directly related to integrating acquired businesses[45] - Restructuring and cost reduction initiative expenses encompass severance, outplacement, and other direct costs associated with specific restructuring plans[45] - Other expenses include various investment impairment charges and costs to comply with the European Union's Medical Device Regulations (MDR) and In Vitro Diagnostics Medical Device Regulations (IVDR) requirements[45] - The net tax benefit reflects the specified items related to the aforementioned expenses[45]