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

This 8-K filing's primary purpose is to announce Abbott Laboratories' first quarter 2023 financial results and to furnish the accompanying press release (Exhibit 99.1) where these results are detailed.

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

Non-GAAP financial measures are financial metrics that exclude certain items from GAAP (Generally Accepted Accounting Principles) figures. Abbott uses them to exclude unusual or unpredictable items like acquisition expenses, restructuring costs, recall expenses, and tax adjustments. Management believes these measures provide a clearer view of the company's ongoing operational performance.

Where can I find the detailed financial results?

The detailed financial results for the first quarter of 2023 are located in the press release issued by Abbott Laboratories, which is furnished as Exhibit 99.1 to this 8-K filing.

Should I rely solely on Abbott's non-GAAP financial measures?

No, Abbott's management advises investors to consider these non-GAAP financial measures in addition to, and not as a substitute for, financial measures prepared in accordance with GAAP. This provides a more complete understanding of the company's financial condition.

ABT 8-K: Earnings & Results

Summary

Abbott Laboratories (ABT) reported its first quarter 2023 financial results on April 19, 2023. The company provided a press release, furnished as Exhibit 99.1, detailing its performance. Notably, the report highlights Abbott's use of non-GAAP financial measures, which exclude items such as acquisition-related expenses, restructuring actions, voluntary recall costs, certain regulatory costs, and tax-related adjustments. Management believes these non-GAAP measures offer investors better insight into ongoing business performance by removing unusual or unpredictable factors, similar to internal assessments. While the specific financial figures are detailed in the press release (Exhibit 99.1), this 8-K filing primarily serves to announce the results and reference the accompanying press release. Investors are advised to consider these non-GAAP measures alongside traditional GAAP figures for a comprehensive understanding of Abbott's financial health and operational efficiency.

Key Highlights

1Abbott Laboratories announced its first quarter 2023 results on April 19, 2023.
2The company furnished its earnings press release as Exhibit 99.1.
3The filing emphasizes the use of non-GAAP financial measures by Abbott.
4Non-GAAP measures exclude items like acquisition costs, restructuring, voluntary recall expenses, and tax adjustments.
5Management states non-GAAP measures provide better insight into ongoing business performance.
6Investors are encouraged to review these non-GAAP measures in conjunction with GAAP financials.

ABBOTT LABORATORIES 8-K Report, Financial Results (Apr 19, 2023)

Summary

Key Highlights

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