8-KEarnings & ResultsExhibits & Filings

ABBOTT LABORATORIES 8-K Report, Financial Results (Oct 18, 2023)

Filed October 18, 2023For Securities:ABT

Summary

Abbott Laboratories (ABT) filed an 8-K on October 17, 2023, to report its financial results for the third quarter of 2023, which were announced on October 18, 2023. The filing primarily incorporates a press release detailing these results. Investors should note that Abbott, as is common practice, utilizes both GAAP (Generally Accepted Accounting Principles) and non-GAAP financial measures. The non-GAAP measures adjust for items such as acquisition-related expenses, restructuring costs, voluntary recalls, impairment charges, and tax adjustments, which management believes offer better insight into ongoing operational performance. While these non-GAAP figures aim to provide a clearer view of the core business, it is crucial for investors to consider them alongside, and not as a substitute for, the standard GAAP measures. The press release, furnished as Exhibit 99.1, will contain the detailed financial performance data. Investors seeking specific performance metrics, including revenue, earnings, and segment-specific results, should refer to this accompanying press release, as the 8-K itself mainly serves as a notification of the earnings release.

Key Highlights

  • 1Abbott Laboratories announced its Q3 2023 financial results on October 18, 2023, via an 8-K filing.
  • 2The 8-K filing incorporates a press release (Exhibit 99.1) containing the detailed financial results.
  • 3Abbott uses non-GAAP financial measures alongside GAAP measures to report performance.
  • 4Non-GAAP measures exclude items like acquisition expenses, restructuring costs, voluntary recalls, and tax adjustments.
  • 5Management believes non-GAAP measures provide insight into ongoing operational performance.
  • 6Investors are advised to consider non-GAAP measures in conjunction with, not as a substitute for, GAAP measures.
  • 7The filing also includes an interactive data file (XBRL) for the cover page.

Frequently Asked Questions

The main purpose of this 8-K filing is to officially announce and provide access to Abbott Laboratories' financial results for the third quarter of 2023, which were released on October 18, 2023. It primarily serves to incorporate the earnings press release as an exhibit.

Abbott's non-GAAP financial measures adjust the standard GAAP figures to exclude items that management considers unusual or unpredictable. These can include expenses related to acquisitions, restructuring, voluntary recalls, impairments, and certain tax adjustments. The goal is to provide a clearer view of the company's ongoing operational performance.

The detailed financial performance data for Q3 2023 is located in the press release furnished as Exhibit 99.1 to this 8-K filing. Investors should refer to this press release for specific revenue, earnings, and segment performance details.

Abbott's management believes their non-GAAP measures offer useful information for investors to evaluate ongoing business performance. However, the company explicitly cautions investors to consider these non-GAAP measures in addition to, and not as a substitute for, financial measures prepared in accordance with GAAP.