8-KEarnings & ResultsExhibits & Filings

ABBOTT LABORATORIES 8-K Report, Financial Results (Jan 22, 2020)

Filed January 22, 2020For Securities:ABT

Summary

Abbott Laboratories (ABT) filed an 8-K on January 22, 2020, to announce its fourth quarter and full-year 2019 financial results. The report primarily serves to furnish a press release containing these results, which includes non-GAAP financial measures. Investors should note that Abbott utilizes these non-GAAP figures to offer a clearer view of ongoing business performance, excluding items such as acquisition and restructuring costs, R&D asset acquisitions, debt extinguishment, asset impairments, and certain tax adjustments. While these non-GAAP measures, which also exclude intangible amortization, are presented to aid investor understanding and align with management's internal assessment, it is crucial for investors to consider them alongside GAAP-compliant financial measures. The press release itself is furnished as Exhibit 99.1, providing detailed financial information and commentary that supplements the core 8-K filing. The Chief Financial Officer, Brian B. Yoor, signed the report.

Key Highlights

  • 1Abbott Laboratories announced its fourth quarter and full-year 2019 financial results via an 8-K filing on January 22, 2020.
  • 2The filing includes a press release (Exhibit 99.1) containing the detailed financial results.
  • 3Abbott presented non-GAAP financial measures in its earnings announcement.
  • 4Non-GAAP measures exclude specified items such as acquisition/restructuring costs, R&D asset acquisitions, debt extinguishment, and asset impairments.
  • 5Intangible amortization expense is also excluded from the non-GAAP measures.
  • 6The company states that non-GAAP measures provide greater visibility into ongoing business performance and are used internally for performance monitoring.
  • 7Investors are advised to consider non-GAAP measures in conjunction with, not as a substitute for, GAAP financial measures.

Frequently Asked Questions

The main purpose of this 8-K filing is to announce and provide access to Abbott Laboratories' financial results for the fourth quarter and the full year 2019, as detailed in the accompanying press release furnished as Exhibit 99.1.

Non-GAAP financial measures are financial metrics that exclude certain items from the standard GAAP (Generally Accepted Accounting Principles) figures. Abbott uses them to provide a clearer view of its ongoing business performance by excluding items like acquisition and restructuring costs, debt extinguishment, and asset impairments, which can be unusual or unpredictable. They are intended to help investors better evaluate the company's operational results.

No, investors should not rely solely on the non-GAAP figures. Abbott explicitly cautions investors to consider these non-GAAP financial measures in addition to, and not as a substitute for, financial measures prepared in accordance with GAAP. The GAAP figures provide the officially recognized financial picture.

The 8-K filing was signed by Brian B. Yoor, Executive Vice President, Finance and Chief Financial Officer, on behalf of Abbott Laboratories.