MAAT INDEX

CLAIM #3071 · Abbott Laboratories (ABT) · 2023Q3 earnings call · Oct 17, 2023 · due Dec 31, 2023

So we're forecasting other step up in the fourth quarter.

Robert Ford · CEO

PENDING
graded after results covering Dec 31, 2023 are reported

In context

ng to be some macro environment challenges as companies head into 2024. But I'd say our portfolio has really been built to withstand this type of environment, and we tend to do pretty well in this type of environment. And as I said in my comments also, we've further strengthened the portfolio and the position that we had with the investments that we made during the pandemic, and that's helped lead to a step up here in our growth rate this year. The base business has grown double digits, 3 quarters in a row, and I expect to be doing that again in Q4. And if you look at the EPS contribution, as I said in the comments, it's really having a positive impact and a lot of power coming through on the base business as we continue to grow that, and it's sequentially gotten better every quarter. So we're forecasting other step up in the fourth quarter. So if you look at that EPS for the fourth quarter and put it all together, the base business here is going to contribute to about $4.10 of EPS and we've raised that twice this year. So there's clearly momentum that's building here both on the top and the bottom lines. And I believe that momentum is going to sustain and continue as we go into 2024. I think it starts, Josh, always with the top line. And if you can drive a higher top line growth, I think that's really the building block. And if you look at our -- let's say, our pre-pandemic kind of growth formula here, we were growing around 7%. So I expect that to accelerate in next year without a doubt. And that's off a much larger sales base than when we were pre-pandemic. And like I said, that's based off the momentum that we're seeing

Verify independently

SEC filings for ABT · Claim quote is verbatim from the 2023Q3 earnings call.