CLAIM #2985 · Abbott Laboratories (ABT) · 2022Q4 earnings call · Jan 24, 2023 · due Dec 31, 2023
“For China, Robbie, I'd say we've assumed a softer start in Q1 given some of the dynamics there at the start of this year, but we anticipate that will improve over the course of the year.”
Robert Funck · CFO
In context
“pecially in our medical device businesses. You got products that either launched last year, we'll be launching this year. I'm sure we'll talk about some of those on the call today. So you'll see the impact of those launches kind of grow over the course of the year, kind of feather into that top line. Secondly, we are seeing a steady improvement in procedure trends in the U.S. and Europe. We've been seeing that and we expect to continue to see kind of a steady improvement there on procedure trends over the course of the year. In our Nutrition business, we will see improvement as we continue to supply the market, in particular, the non-WIC segment of the infant formula market in the U.S. And so will recover share there. And so we'll have the impact of that over the course of the year. For China, Robbie, I'd say we've assumed a softer start in Q1 given some of the dynamics there at the start of this year, but we anticipate that will improve over the course of the year. And so all those changes -- all those impacts on the top line as that builds over the course of the year will flow through to earnings as Robert talked about we're going to get leverage in the middle here. And so for the first quarter, we're -- we think earnings will be approximately $1, and then we'll build from there. On your question on foreign exchange, rates have improved a bit recently, but exchange is still a headwind, particularly on earnings. At current rates, as I said in my opening remarks, exchange is approximately a 1% headwind on sales. EPS, it's a little bit more than $0.30 headwind for us in 2023. The fall-through impact move like we have seen over the last year is always complex. Translation is just a piece of the impact. And while that has improved from where we were”
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SEC filings for ABT ↗ · Claim quote is verbatim from the 2022Q4 earnings call.