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CLAIM #2958 · Abbott Laboratories (ABT) · 2022Q3 earnings call · Oct 18, 2022 · due Dec 31, 2023

I wouldn't necessarily take that $0.10 impact in the fourth quarter and extrapolate that for the full year of next year.

Robert Funck · CFO

PENDING
graded after results covering Dec 31, 2023 are reported

In context

e a little bit of an impact on that overall growth rate. But as I said, I think in Robbie's question, I see high single-digit growth once you back out of COVID. And so COVID will be just the determining factor there, but base non-COVID, high single digits next year. Vijay Kumar: That's helpful. And then maybe one on the financial side. I think when gross margins were down Q-on-Q. I'm wondering what was the FX incremental inflationary impact. I think Robert Funck mentioned $0.10 of FX impact in Q4. Should we annualize that to $0.40 of FX impact for next year? I'm not sure how to think about FX and inflationary impact for next year. And we didn't talk about Lingo. Shouldn't that be an incremental driver here and not '23? Robert Funck: Let me -- Vijay, I'll take the exchange first. I mean, I wouldn't necessarily take that $0.10 impact in the fourth quarter and extrapolate that for the full year of next year. But certainly, through the first 3 quarters, you would expect to see that. But then in the fourth quarter, you're going to kind of be at those rates that we currently are at. So but again, it is going to be a significant headwind for us next year. On inflation, definitely, we're seeing the impacts there. Like others, the biggest impacts we've seen is really around commodities, other manufacturing input cost and logistics. We've incorporated about another $100 million impact to gross margin in our current guidance. So that's about $1 billion for the year, so call it, maybe 240 -- probably a little more than 240 basis points on the gross margin. As we -- as Robert said, we've seen a little bit of moderation in the rate of increase in the third quarter compared to where we were earlier i

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SEC filings for ABT · Claim quote is verbatim from the 2022Q3 earnings call.