Abbott (NYSE:ABT) today posted first-quarter financial results that came in ahead of the consensus sales forecast on Wall Street.
The company retained its prior sales guidance for between 6.5% and 7.5% growth in 2026. However, Abbott cut its adjusted earnings per share (EPS) guidance from $5.55-$5.80 to $5.38-$5.58, which includes $0.20 of dilution related to the recently completed $21 billion acquisition of Exact Sciences.
Shares of ABT fell more than 4% to $97.15 apiece in morning trading today.
The Abbott Park, Illinois-based medtech giant reported profits of $1.08 billion. That equals 61¢ per share on sales of $11.16 billion for the three months ended March 31, 2026.
Abbott recorded an 18.7% bottom-line slide on a sales increase of 7.8%.
Adjusted to exclude one-time items, EPS came in at $1.15. That equaled expectations on Wall Street. Sales came out ahead of estimates as experts projected $11 billion in revenue.
Worldwide Medical Devices sales increased 13.2% year-over-year, driven by double-digit growth in Electrophysiology (16.7%), Heart Failure (14.6%) and Rhythm Management (17%). In Diabetes Care, continuous glucose monitor (CGM) sales grew 14.2% year-over-year, further boosting Abbott’s revenue growth. Vascular (9.5%), Structural Heart (9%) and Neuromodulation (6.8%) also posted sales increases.
Recent notable news for Abbott’s medtech business included its participation in a $575 million funding round for wearable maker Whoop and positive early results from a study evaluating its investigational Amulet 360 left atrial appendage (LAA) occluder. The company also reported a reimbursement win for its Esprit BTK drug-eluting scaffold system and presented clinical findings demonstrating improved outcomes with its FreeStyle Libre continuous glucose monitors.
“Our first-quarter results were aligned with our expectations to start the year,” said Robert B. Ford, chair and CEO, Abbott. “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 EVP and Group President, Medical Devices, Lisa Earnhardt, will deliver the closing keynote at DeviceTalks Minnesota on May 4. Learn more about the event and register here.
The analysts’ take
BTIG analysts Marie Thibault, Alexandra Pang and Sam Eiber maintain a “Buy” rating for Abbott. They said in a note today that the company is “navigating on an even keel.”
The analysts pointed to revenue beats and “little change” to the company’s guidance, despite Wall Street’s evident reaction to the adjusted EPS outlook cut.
According to the analysts, the midpoint of the new adjusted EPS guidance is the same as the previous midpoint after accounting for the 20¢ dilution related to the Exact Sciences deal. They also note that Abbott’s second-quarter guidance for adjusted EPS between $1.25-$1.31 comes in below the $1.36 consensus.
The analysts expect updates on Libre, Structural Heart, planned EP launches and more, as well as an outlook for the Diagnostics business with the addition of Exact Sciences.
“While there is room for improvement in key businesses, we think the overall Q1 result was solid across much of the portfolio and that the sales outlook leaves room for upside from product launches, the deal integration, and reimbursement catalysts,” the analysts said.
