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.