Abbott Laboratories (NYSE: ABT) may be in the midst of a long-term restructuring, but the company turned in earnings growth of 11.5% to $1.45 EPS. The analyst consensus estimate was $1.44 per share according to Thomson Reuters. Where this gets murky is that sales were light: $10.4 billion versus a consensus target of $10.63 billion, and that was after a 4.1% sales growth rate. The company’s adjusted gross margin ratio was almost 64% due to “improved efficiencies across a number of operating divisions, product mix, and the effect of foreign exchange.”
That “foreign exchange” is a wild card right now as companies have to hedge currencies and while the U.S. dollar is so strong (for a change).
We now have full 2012 guidance of $4.95 to $5.05 in earnings per share versus a consensus estimate from Thomson Reuters of $5.02 per share.
The company says that it is on track to separate into two companies for products and pharmaceuticals.
Abbott shares are indicated up 0.2% at $56.08 against a 52-week range of $45.07 to $56.84.
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