Abbott (NYSE:ABT) today reported 4th-quarter sales and earnings declines but still managed to beat Wall Street’s consensus earnings forecast by a penny.
The Abbott Park, Ill.-based healthcare giant posted profits of $767 million, or 51¢ per share, on sales of $5.19 billion for the 3 months ended Dec. 31, 2015, for a bottom-line slide of -15.2% on a -3.1% sales decline compared with Q4 2014.
But adjusted to exclude 1-time items, earnings per share were 62¢, coming in just ahead of the 61¢ expectation on The Street.
Full-year profits rose 7.2% to $3.26 billion, or $2.92 per share, on sales growth of 0.8% to $20.41 billion, compared with 2014. Adjusted EPS were $2.15, exactly in line with analysts’ consensus forecast.
“In 2015, we achieved top-tier sales and earnings growth despite a challenging currency environment,” chairman & CEO Miles White said in prepared remarks. “Our underlying performance continues to be strong.”
Abbott said it expects to post adjusted EPS of $2.10 to $2.20 this year; 1st-quarter adjusted EPS are pegged at 38¢ to 40¢.
ABT shares slid -5.5% to $38.25 apiece today in early trading.
The post Abbott’s Q4 sales, earnings slide appeared first on MassDevice.
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