Summary
Abbott Laboratories (ABT) filed an 8-K on October 19, 2022, to report its third-quarter 2022 financial results. The filing primarily consists of a press release detailing these results and is furnished as an exhibit. Investors should note that Abbott utilizes non-GAAP financial measures, which exclude certain items such as acquisition-related expenses, restructuring costs, voluntary recalls, litigation, and impairment charges, among others. The company states that these adjustments provide a clearer view of ongoing business performance, aligning with how management internally assesses results.
Key Highlights
- 1Abbott Laboratories reported its third-quarter 2022 financial results via an 8-K filing on October 19, 2022.
- 2The primary content of the filing is a press release furnished as Exhibit 99.1, detailing the Q3 2022 operational and financial performance.
- 3Abbott utilizes non-GAAP financial measures in its reporting, adjusting for items deemed unusual or unpredictable.
- 4Examples of adjustments in non-GAAP measures include expenses related to acquisitions, restructuring, cost reduction, voluntary recalls, litigation, asset impairments, and tax-related items.
- 5The company believes these non-GAAP measures offer greater visibility into ongoing business performance for investors.
- 6Abbott's management also uses these non-GAAP measures for internal performance monitoring.
- 7Investors are cautioned to consider these non-GAAP measures alongside, not as a substitute for, GAAP financial measures.
Frequently Asked Questions
The main purpose of this 8-K filing is to report Abbott Laboratories' financial results for the third quarter of 2022. It includes a press release that details these results.
Abbott makes adjustments for various items to present non-GAAP financial measures. These can include expenses related to acquisitions, restructuring, cost reduction initiatives, voluntary recalls, certain litigation, impairment of assets, and specific tax-related items.
Abbott uses non-GAAP financial measures to provide investors with a clearer view of the company's ongoing business performance. These measures exclude items that are considered unusual or unpredictable, which management believes helps in better evaluating the core operational results.
No, Abbott cautions investors to consider the non-GAAP financial measures in addition to, and not as a substitute for, financial measures prepared in accordance with Generally Accepted Accounting Principles (GAAP). This means GAAP results are also important for a complete understanding.