Abbott Laboratories reported third-quarter sales growth of 6.9 percent and reaffirmed its full-year guidance Wednesday, driven by strong performance in medical devices and nutrition products.
The healthcare giant narrowed its 2025 earnings forecast to $5.12-$5.18 per share while maintaining its organic sales growth outlook of 6-7 percent.
Abbott’s results demonstrate resilience across its diversified portfolio as pandemic-era COVID testing continues to fade. The company’s pivot to growth drivers like continuous glucose monitors and heart devices positions it well for sustained expansion.
Medical devices led performance with 14.8 percent reported growth, powered by diabetes care sales of $2 billion. Continuous glucose monitor sales jumped 20.5 percent as demand for the technology accelerates.
“Our third-quarter results demonstrate our ability to deliver consistent, high-quality performance,” said Robert B. Ford, Abbott’s chairman and CEO. “Our differentiated product pipeline continues to power our performance and positions Abbott to deliver durable long-term value to our shareholders.”
Nutrition sales rose 4.2 percent, with adult nutrition brands Ensure and Glucerna driving gains. The segment’s growth reflects aging demographics and increased health awareness.
Diagnostics declined 6.6 percent as COVID testing revenue plummeted to $69 million from $265 million last year. Excluding COVID tests, diagnostics grew 0.4 percent despite headwinds in China.
The company’s established pharmaceuticals unit, focused on emerging markets, grew 7.5 percent. Key markets across Asia, Latin America and the Middle East posted double-digit increases.
Abbott secured important regulatory victories in the quarter. Japan approved TriClip for leaky tricuspid heart valves, while Europe expanded approval for its Navitor valve system.
The company declared its 407th consecutive quarterly dividend of $0.59 per share. Abbott has raised its payout for 53 straight years, cementing its status as a dividend aristocrat.
Year-to-date sales increased 6.1 percent to $32.9 billion. Operating margin improved 40 basis points to 23 percent, reflecting operational efficiency gains.
Abbott’s 114,000 employees serve customers in over 160 countries. The company maintains leading positions in diagnostics, medical devices, nutrition and branded generics.