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CLAIM #3024 · Abbott Laboratories (ABT) · 2023Q1 earnings call · Apr 18, 2023 · due Apr 18, 2025

This is not a -- I don't think this is a quick fix, but it's definitely an area that we're going to see steady improvement over the next couple of years here in terms of improvement.

Robert Ford · CEO

PENDING
graded after results covering Apr 18, 2025 are reported

In context

ne and especially the top line coming from our med device portfolio, which obviously has margins that are accretive to the overall company. So looking at the growth drivers there, whether it's the Structural Heart portfolio, the EP portfolio, Libre and Diabetes or recovery in Nutrition. I mean, I think these are all important areas of top line growth that will drive accretion to our margins. One of the challenges that we all faced has been the impact of inflation on our input costs. And as I said, I think some of those are normalizing a little bit. I think last year, a lot of the focus was just to ensure that we had access to all the raw materials, right? And I think in those situations, we ultimately had to deal with elevated prices. And I think that some of these will unwind over time. This is not a -- I don't think this is a quick fix, but it's definitely an area that we're going to see steady improvement over the next couple of years here in terms of improvement. We've been able to take price where we can to offset some of those inputs, those cost input increases, but I think it's really the focus on the top line with our device portfolio that drives the accretion and then combined with focusing on our gross margin improvement programs, which we have across all of the businesses and that get the attention and the focus every month in our operating meeting. So the combination of those 2 factors are what gives us confidence for that margin expansion. Operator: Mr. Jennings, please make sure your line is not on mute. Joshua Jennings: I was on mute. I apologize. I wanted to just, related follow-up, you already touched on taking price, Rob. And would love to hear mostly on the device business, how pricing is shaping up in 2023. But also if you could

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SEC filings for ABT · Claim quote is verbatim from the 2023Q1 earnings call.