Summary
AbbVie Inc. (ABBV) has filed an 8-K report on October 5, 2022, to provide an update on its financial outlook, specifically related to acquired in-process research and development (IPR&D) and milestones expenses for the third quarter of 2022. The company anticipates that these expenses will have an unfavorable impact of $0.02 on both GAAP diluted earnings per share (EPS) and adjusted non-GAAP diluted EPS for the quarter. This expense was not previously included in the adjusted diluted EPS guidance for the period beyond the second quarter of 2022. Despite this anticipated impact, AbbVie has reaffirmed its full-year 2022 adjusted diluted EPS guidance range, now including these third-quarter expenses, at $13.76 - $13.96. The third-quarter 2022 adjusted diluted EPS guidance range, inclusive of this expense, is now projected to be between $3.53 and $3.57. Investors should note that these are preliminary estimates and the final results may vary. The company also includes standard forward-looking statement disclaimers, highlighting potential risks and uncertainties that could affect actual results.
Key Highlights
- 1AbbVie expects acquired IPR&D and milestones expense of $40 million (pre-tax) in Q3 2022.
- 2This expense is estimated to reduce both GAAP and adjusted non-GAAP diluted EPS by $0.02 in Q3 2022.
- 3The company is reaffirming its full-year 2022 adjusted diluted EPS guidance range of $13.76 - $13.96, now including the Q3 expense.
- 4AbbVie is also providing a Q3 2022 adjusted diluted EPS guidance range of $3.53 - $3.57, inclusive of the new expense.
- 5Acquired IPR&D and milestones expenses are inherently uncertain and not typically forecasted by the company.
- 6The provided financial information is preliminary and subject to finalization.
- 7The report includes standard cautionary statements regarding forward-looking statements and associated risks.