What is the main purpose of this 8-K filing?

The main purpose of this 8-K filing is to formally report Abbott Laboratories' financial results for the first quarter of 2019, as announced on April 17, 2019. It incorporates by reference the press release that contains these detailed results.

What are 'non-GAAP financial measures' and why does Abbott use them?

Non-GAAP financial measures are financial metrics that exclude certain items from the standard GAAP (Generally Accepted Accounting Principles) calculation. Abbott uses them to provide a clearer view of its ongoing operational performance by adjusting for unusual or unpredictable factors such as acquisition costs, restructuring charges, and tax impacts. Management believes these measures help investors better evaluate the company's underlying business performance.

What specific items are excluded in Abbott's non-GAAP earnings?

Abbott's non-GAAP earnings exclude a range of items including, but not limited to, expenses related to acquisitions and restructuring, cost reduction initiatives, the impact of U.S. tax reform, R&D asset acquisitions, early debt extinguishment costs, impairment charges on certain assets, and associated tax benefits and share-based compensation. Intangible amortization expense is also excluded for greater visibility.

How should investors interpret these non-GAAP results?

Investors should consider Abbott's non-GAAP financial measures in addition to, and not as a substitute for, the financial measures prepared in accordance with GAAP. The company's management uses these non-GAAP figures internally and believes they provide useful supplemental information for assessing ongoing business performance.

ABT 8-K: Earnings & Results

Summary

Abbott Laboratories (ABT) filed an 8-K on April 17, 2019, to report its financial results for the first quarter of 2019. The filing primarily references a furnished press release (Exhibit 99.1) that details these results. Investors should note that Abbott utilizes non-GAAP financial measures, such as net earnings excluding specified items, to provide a clearer view of ongoing business performance. These adjustments address unusual or unpredictable factors including acquisition and restructuring costs, tax reform impacts, R&D asset acquisitions, debt extinguishment, asset impairments, and tax benefits. While Abbott's management believes these non-GAAP measures offer valuable insights into operational trends, investors are advised to consider them alongside, and not as a replacement for, GAAP-based financial measures.

Key Highlights

1Abbott Laboratories announced its Q1 2019 financial results via an 8-K filing on April 17, 2019.
2The primary content of the filing is a press release (Exhibit 99.1) containing the Q1 2019 earnings.
3The company utilizes non-GAAP financial measures to report results, adjusting for specific items.
4Adjustments include costs related to acquisitions, restructuring, cost reduction initiatives, and U.S. tax reform.
5Other adjustments mentioned are R&D asset acquisition costs, debt extinguishment expenses, asset impairment charges, and related tax benefits.
6Abbott's management uses these non-GAAP measures to assess internal performance and believes they offer valuable insights to investors.
7Investors are cautioned to consider these non-GAAP measures in conjunction with, not as a substitute for, GAAP financial measures.

ABBOTT LABORATORIES 8-K Report, Financial Results (Apr 17, 2019)

Summary

Key Highlights

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