8-KEarnings & ResultsExhibits & Filings

ABBOTT LABORATORIES 8-K Report, Financial Results (Apr 16, 2020)

Filed April 16, 2020For Securities:ABT

Summary

Abbott Laboratories (ABT) filed an 8-K on April 16, 2020, to report its first-quarter 2020 financial results. The filing includes a press release detailing these results and specifies the use of non-GAAP financial measures. These non-GAAP measures adjust for significant items such as acquisition and restructuring expenses, R&D asset acquisition costs, asset impairments, and tax-related adjustments, offering a view of ongoing operational performance as assessed by management. Investors should note that while Abbott's management believes these non-GAAP figures provide valuable insights into operational performance, they should be considered alongside, and not as a substitute for, GAAP-based financial measures. The report primarily serves to furnish the Q1 2020 earnings release, highlighting the company's financial performance during a period that would soon be significantly impacted by global events.

Key Highlights

  • 1Abbott Laboratories announced its first-quarter 2020 financial results on April 16, 2020, via an 8-K filing.
  • 2The filing includes a furnished press release (Exhibit 99.1) detailing the Q1 2020 earnings.
  • 3Abbott utilizes non-GAAP financial measures to present results, excluding items like acquisition and restructuring costs, R&D asset charges, asset impairments, and certain tax benefits.
  • 4Management believes these non-GAAP measures offer greater visibility into ongoing business performance.
  • 5Investors are advised to consider these non-GAAP measures in conjunction with GAAP financial measures.
  • 6The report confirms the CFO, Robert E. Funck, Jr., signed the filing.
  • 7This filing occurred just as the significant economic impacts of the COVID-19 pandemic were beginning to be felt globally.

Frequently Asked Questions

The primary purpose of this 8-K filing is to formally announce and provide Abbott Laboratories' financial results for the first quarter of 2020, as detailed in the accompanying press release.

Abbott uses non-GAAP financial measures to provide investors with a clearer view of the company's ongoing operational performance by excluding unusual or unpredictable items. These adjustments include expenses related to acquisitions, restructuring, R&D assets, asset impairments, and specific tax benefits.

Investors should interpret these non-GAAP measures as a supplementary view of performance, as intended by management. However, it is crucial to consider these figures alongside, and not as a replacement for, the company's financial results prepared in accordance with Generally Accepted Accounting Principles (GAAP).

While the 8-K filing itself does not contain the detailed financial tables, it incorporates by reference a press release (Exhibit 99.1) which would contain the specific Q1 2020 financial results, including net earnings and other performance metrics, both on a GAAP and non-GAAP basis.