Summary
Abbott Laboratories (ABT) filed an 8-K on April 19, 2017, to announce its first-quarter 2017 financial results. The report primarily furnishes a press release detailing these results, which are presented using both GAAP and non-GAAP financial measures. The company emphasizes that its non-GAAP figures, which exclude items like acquisition-related expenses, restructuring costs, and gains/losses from asset sales and foreign currency, are used internally by management to assess performance and provide investors with a clearer view of ongoing business operations. Investors should pay close attention to the non-GAAP adjustments as they can significantly impact reported earnings. While Abbott asserts these measures offer valuable insights into underlying business performance, they should be considered alongside, not as a replacement for, GAAP-compliant financial data. The filing indicates that the detailed financial performance is available in the press release furnished as an exhibit.
Key Highlights
- 1Abbott Laboratories announced its first-quarter 2017 financial results on April 19, 2017.
- 2The 8-K filing incorporates a press release (Exhibit 99.1) containing the detailed earnings announcement.
- 3The company utilized both GAAP and non-GAAP financial measures to report results.
- 4Non-GAAP measures exclude specified items such as acquisition costs, restructuring, asset sale gains/losses, and currency impacts.
- 5Abbott's management uses non-GAAP measures to evaluate ongoing business performance internally.
- 6Investors are advised to consider non-GAAP measures in addition to GAAP measures.
- 7Brian B. Yoor, Executive Vice President, Finance and Chief Financial Officer, signed the report.