Where can I find the actual Q4 and Full Year 2023 financial results for Abbott Laboratories?

The actual financial results are detailed in the press release dated January 24, 2024, which is furnished as Exhibit 99.1 to this 8-K filing. Investors should refer to this press release for specific revenue, earnings, and other financial figures.

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 present results that management believes better reflect the ongoing operational performance of the business by excluding unusual or unpredictable items like acquisition-related costs, restructuring charges, and recall expenses. Management believes this provides investors with greater visibility into the core business.

What are some of the specific items excluded from Abbott's non-GAAP earnings?

Abbott's non-GAAP financial measures typically exclude expenses related to acquisitions, restructuring actions, cost reduction initiatives, voluntary recalls, intangible asset impairments, fair value adjustments for contingent consideration, certain regulatory costs, and various tax adjustments. The exact list of exclusions for the reported period is available in the referenced press release.

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

No, investors are cautioned to consider Abbott's non-GAAP financial measures in addition to, and not as a substitute for, financial measures prepared in accordance with GAAP. GAAP measures provide the standard basis for financial reporting, while non-GAAP measures offer a supplemental view of performance.

ABT 8-K: Earnings & Results

Summary

Abbott Laboratories (ABT) has filed an 8-K report on January 24, 2024, announcing its fourth quarter and full-year 2023 financial results. The report primarily references a press release (Exhibit 99.1) that details these results. Investors should note that Abbott's earnings release includes both GAAP and non-GAAP financial measures. The company uses non-GAAP measures, which exclude various items such as acquisition-related expenses, restructuring costs, voluntary recall expenses, impairment charges, and certain tax adjustments, to provide a clearer view of ongoing operational performance. While the specific financial figures are contained within the referenced press release, the 8-K filing serves as the official notification of their release and provides context for the non-GAAP adjustments made by Abbott management. Management believes these non-GAAP measures offer valuable insights into the core business performance and are used internally for performance monitoring. Investors are advised to consider these non-GAAP figures alongside GAAP measures for a comprehensive understanding of the company's financial health.

Key Highlights

1Abbott Laboratories announced Q4 and Full Year 2023 financial results on January 24, 2024.
2The primary disclosure of the financial results is via a furnished press release (Exhibit 99.1).
3The company utilized both GAAP and non-GAAP financial measures in its earnings announcement.
4Non-GAAP measures exclude items such as acquisition costs, restructuring, voluntary recall expenses, and certain tax adjustments.
5Abbott's management believes non-GAAP measures provide better insight into ongoing business performance.
6Non-GAAP measures are used internally by management to assess performance.
7Investors are cautioned to consider non-GAAP measures in addition to, and not as a substitute for, GAAP measures.

ABBOTT LABORATORIES 8-K Report, Financial Results (Jan 24, 2024)

Summary

Key Highlights

Frequently Asked Questions