How much did the Exact Sciences acquisition contribute to first-quarter results?

Exact Sciences contributed approximately $706 million to reported first-quarter 2026 sales, almost entirely in the U.S. (about $681 million). Its results are included only from the March 23, 2026 closing date, and the company reports that Cancer Diagnostics grew 13.4% comparably, with Cologuard showing double-digit growth. Comparable sales growth includes Exact Sciences' prior-year sales as well, so the 3.7% comparable figure reflects the underlying business mix.

Why did GAAP EPS decline even though adjusted EPS grew?

GAAP diluted EPS fell to $0.61 from $0.76 because of $0.54 per share in specified items, including $422 million of intangible amortization, about $514 million of restructuring, acquisition and other expenses, and a $200 million adjustment tied to a previously recognized non-cash deferred tax benefit. Excluding these items, adjusted EPS rose 5.5% to $1.15. The growth in SG&A, which includes acquisition-related costs, is a key driver of the GAAP decline.

What is the outlook for 2026 and what drives the guidance change?

Abbott projects full-year 2026 comparable sales growth of 6.5% to 7.5% and adjusted diluted EPS of $5.38 to $5.58, with the Exact Sciences acquisition contributing $0.20 of dilution. Management expects accelerating growth through the year, citing the new high-growth oncology diagnostics business and the Nutrition pricing actions and new product launches expected to help volume. Q2 2026 adjusted EPS is guided to $1.25 to $1.31. The company does not provide GAAP guidance because it cannot reliably forecast items such as restructuring, impairments, acquisition costs and currency effects.

What one-time items affected the quarter's tax rate and sales comparisons?

The first-quarter GAAP tax rate of 25.6% includes about $50 million of net benefit from resolving prior-year tax positions, and about $200 million of adjustments tied to a previously recognized non-cash deferred tax benefit. Excluding specified items, the adjusted tax rate was 15.2%, compared with 16.5% a year earlier. On sales, Structural Heart received a final multi-year compensation payment from a competitor in Q1 2026, which is excluded from comparable growth; this payment was $89 million for all of 2025, and the 2026 payment rolled off, which weighs on comparable comparisons.

What is the dividend and how does it affect investors?

Abbott's board declared a quarterly dividend of $0.63 per share, its 409th consecutive quarterly payment, payable May 15, 2026 to holders of record at the close of business on April 15, 2026. Abbott has increased its dividend for 54 consecutive years and is a member of the S&P 500 Dividend Aristocrats Index. At an annualized rate of $2.52 per share, the dividend equates to roughly 44% of the midpoint of 2026 adjusted EPS guidance, a payout level that should be assessed alongside the integration of Exact Sciences.

ABT 8-K: Earnings & Results

01—Abstract

Summary

Summary of the 8-K filed April 16, 2026. Cited figures are marked; the original filing is the authoritative source.

Abbott Laboratories reported first-quarter 2026 results on April 16, 2026, with GAAP net sales up 7.8% to $11.16 billion^a (3.7% on a comparable basis) and GAAP diluted EPS of $0.61, down from $0.76 a year earlier.

Adjusted diluted EPS rose 5.5% to $1.15^b. The headline growth was helped by the March 23, 2026 acquisition of Exact Sciences, which contributed about $706 million of reported sales in the quarter. Excluding that acquisition and a one-time Structural Heart compensation payment that rolled off, underlying growth was modest.

GAAP operating earnings fell 20.6%, driven by a 22.2% rise in SG&A to $3.74 billion^c, which includes about $444 million of acquisition-related expenses and accelerated stock-based compensation tied to the deal. Business performance was mixed. Medical Devices was the strongest segment, with comparable growth of 8.5%, led by Electrophysiology, Heart Failure and Rhythm Management, and continuous glucose monitor sales grew 7.6% on a comparable basis.

Established Pharmaceuticals grew 9.0%^d comparably. Nutrition declined 7.7% comparably on lower volumes and strategic pricing actions taken in late 2025, and Rapid and Molecular Diagnostics fell 9.6% on a weaker respiratory season. Core Laboratory Diagnostics grew 3.3%, and Cancer Diagnostics (Exact Sciences) grew 13.4% comparably with Cologuard showing double-digit growth.

Management raised its full-year 2026 framework to include the acquisition: comparable sales growth of 6.5% to 7.5% and adjusted EPS of $5.38 to $5.58, which includes $0.20 of acquisition dilution. Q2 2026 adjusted EPS is guided to $1.25 to $1.31.

The company also declared its 409th consecutive quarterly dividend of $0.63 per share. Investors will want to watch whether the Nutrition decline reverses, whether Exact Sciences integration delivers the expected growth, and how the adjusted tax rate of 15.2% (versus 16.5% a year ago) holds through the year.

02—Key points

Key Highlights

GAAP net sales rose 7.8% to $11.164 billion; comparable sales grew 3.7%, with Exact Sciences contributing roughly $706 million in reported sales after its March 23, 2026 close.
GAAP diluted EPS fell to $0.61 from $0.76, while adjusted diluted EPS rose 5.5% to $1.15, excluding $0.54 per share of specified items (mainly intangible amortization, acquisition costs and restructuring).
GAAP operating earnings declined 20.6% to $1.345 billion as SG&A rose 22.2%, largely on acquisition-related expenses of about $444 million.
Medical Devices comparable sales grew 8.5%, led by Electrophysiology (12.5%), Heart Failure (12.2%) and Rhythm Management (12.5%); Diabetes Care comparable growth was 7.4%.
Nutrition comparable sales fell 7.7% on lower volumes and late-2025 pricing actions, and Rapid and Molecular Diagnostics fell 9.6% on a weaker respiratory season.
Full-year 2026 guidance was set at comparable sales growth of 6.5% to 7.5% and adjusted diluted EPS of $5.38 to $5.58, including $0.20 of Exact Sciences dilution; Q2 2026 adjusted EPS guidance is $1.25 to $1.31.
The board declared a $0.63 quarterly dividend (409th consecutive quarterly payment), payable May 15, 2026, and Abbott has raised its dividend for 54 consecutive years.

03—Questions

Frequently Asked Questions

How much did the Exact Sciences acquisition contribute to first-quarter results?
Exact Sciences contributed approximately $706 million to reported first-quarter 2026 sales, almost entirely in the U.S. (about $681 million). Its results are included only from the March 23, 2026 closing date, and the company reports that Cancer Diagnostics grew 13.4% comparably, with Cologuard showing double-digit growth. Comparable sales growth includes Exact Sciences' prior-year sales as well, so the 3.7% comparable figure reflects the underlying business mix.
Why did GAAP EPS decline even though adjusted EPS grew?
GAAP diluted EPS fell to $0.61 from $0.76 because of $0.54 per share in specified items, including $422 million of intangible amortization, about $514 million of restructuring, acquisition and other expenses, and a $200 million adjustment tied to a previously recognized non-cash deferred tax benefit. Excluding these items, adjusted EPS rose 5.5% to $1.15. The growth in SG&A, which includes acquisition-related costs, is a key driver of the GAAP decline.
What is the outlook for 2026 and what drives the guidance change?
Abbott projects full-year 2026 comparable sales growth of 6.5% to 7.5% and adjusted diluted EPS of $5.38 to $5.58, with the Exact Sciences acquisition contributing $0.20 of dilution. Management expects accelerating growth through the year, citing the new high-growth oncology diagnostics business and the Nutrition pricing actions and new product launches expected to help volume. Q2 2026 adjusted EPS is guided to $1.25 to $1.31. The company does not provide GAAP guidance because it cannot reliably forecast items such as restructuring, impairments, acquisition costs and currency effects.
What one-time items affected the quarter's tax rate and sales comparisons?
The first-quarter GAAP tax rate of 25.6% includes about $50 million of net benefit from resolving prior-year tax positions, and about $200 million of adjustments tied to a previously recognized non-cash deferred tax benefit. Excluding specified items, the adjusted tax rate was 15.2%, compared with 16.5% a year earlier. On sales, Structural Heart received a final multi-year compensation payment from a competitor in Q1 2026, which is excluded from comparable growth; this payment was $89 million for all of 2025, and the 2026 payment rolled off, which weighs on comparable comparisons.
What is the dividend and how does it affect investors?
Abbott's board declared a quarterly dividend of $0.63 per share, its 409th consecutive quarterly payment, payable May 15, 2026 to holders of record at the close of business on April 15, 2026. Abbott has increased its dividend for 54 consecutive years and is a member of the S&P 500 Dividend Aristocrats Index. At an annualized rate of $2.52 per share, the dividend equates to roughly 44% of the midpoint of 2026 adjusted EPS guidance, a payout level that should be assessed alongside the integration of Exact Sciences.

04—Continue

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