CLAIM #3097 · Abbott Laboratories (ABT) · 2023Q3 earnings call · Oct 17, 2023 · due Jan 17, 2024
“It's clear that we're seeing broad-based growth across the entire company. As I said in my comments, we've now delivered double-digit organic sales growth here for the past 3 quarters and forecasting that type of growth again this next quarter EPS contributions and the growth in the base business has increased every quarter, and we've exceeded the expectations we set for the initial guidance of the year.”
Robert Ford · CEO
In context
“ontinue to deliver on their strategies to deliver cost reductions, and then favorable product and portfolio mix, right? So as our faster-growing, higher-margin businesses and new products become a large portion of our overall sales and sales mix. I think that also contributes to that. So yes, we understand that gross margin is key to be able to deliver on that double-digit bottom line EPS growth. And we're -- this is something that we work on every year. And I think we've got a little bit more of a better environment for our teams to work on. So on your COVID question, I'll ask Phil to give you the details there. Philip Boudreau: Jayson, relative to 2023 COVID testing sales forecast full year is about $1.5 billion here. Robert Ford: Okay. So I'll just wrap up here with a few comments. It's clear that we're seeing broad-based growth across the entire company. As I said in my comments, we've now delivered double-digit organic sales growth here for the past 3 quarters and forecasting that type of growth again this next quarter EPS contributions and the growth in the base business has increased every quarter, and we've exceeded the expectations we set for the initial guidance of the year. The pipeline to some of the points that were made there, a big kind of opportunity for us going into 2024 is our pipeline, and it continues to be productive with several new product approvals, indications reimbursement and geographic expansions there. So momentum is clearly building and well positioned for a strong end of the year and going into 2024. So with that, I'll wrap up and thank you for joining us. Michael Comilla: Thank you, operator, and thank you all for your questions. This now concludes Abbott's conference call. A webcast replay of this call will be available after 11:00 a.m. Central Time today on Abbott's Investor Relations website at abbottinvestor.com. Thank you for joining us today. Operator: Thank you. This concludes today's conference call. Thank you for your part”
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SEC filings for ABT ↗ · Claim quote is verbatim from the 2023Q3 earnings call.