-- Abbott Laboratories (ABT) lowered its full-year earnings outlook on Thursday to reflect the acquisition of cancer diagnostics company Exact Sciences, while the healthcare firm reported first-quarter results above market estimates.
The company now anticipates adjusted earnings of $5.38 to $5.58 per share for 2026, including a $0.20 dilution related to the Exact Sciences purchase. The company previously expected adjusted EPS to come in between $5.55 and $5.80 for the year, while the current consensus on FactSet is for $5.60.
Abbott acquired Exact Sciences in March.
"The acquisition of Exact Sciences adds another high-growth business to the Abbott portfolio, further strengthening our confidence in delivering accelerating growth as we move through the year," Abbott Chief Executive Robert Ford said in a statement.
Comparable sales, which includes the prior and current year sales of Exact Sciences, are pegged to grow by 6.5% to 7.5% for 2026, according to the company.
Abbott's shares fell 4.1% in Thursday trade, taking its year-to-date loss to 22%.
For the three-month period ended March, the firm's adjusted EPS rose to $1.15 from $1.09 the year before, surpassing the Street's view for $1.14. Sales improved 7.8% to $11.16 billion, topping the average analyst estimate of nearly $11 billion. Comparable sales were up 3.7%.
Diagnostics sales rose 6.1% year over year to $2.18 billion, while the nutrition segment dropped 6% to $2.02 billion amid lower sales volume and pricing actions in the previous quarter, according to the company. Revenue in the established pharmaceuticals division climbed 13% to $1.43 billion.
Sales in the global medical devices business jumped 13% to $5.54 billion, led by gains of 17% each in rhythm management and electrophysiology, Abbott said. Within the segment, the company recorded double-digit growth in heart failure and diabetes care.
For the second quarter, Abbott forecasts adjusted EPS of $1.25 to $1.31, while the Street is looking for $1.36.
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