=Abbott Labs (ABT) reported earnings on Wed 16 Oct 2019 (b/o)

Abbott Labs reports EPS in-line, revs in-line; guides Q4 EPS in-line

Reports Q3 (Sep) earnings of $0.84 per share, in-line with the S&P Capital IQ Consensus of $0.84; revenues rose 5.5% year/year to $8.08 bln vs the $8.1 bln S&P Capital IQ Consensus, and 7.6 percent on an organic basis including 3.8% in nutrition, 6.6% in diagnostics, 7.9% in established pharma and 10.6% in medical devices.

FreeStyle Libre achieved worldwide sales of $496 million in the quarter, an increase of 63.1 percent on a reported basis and 67.6 percent on an organic basis versus the prior year. During the third quarter, FreeStyle Libre obtained public reimbursement coverage in Ontario and Quebec, becoming the first and only sensor-based glucose monitoring system to be listed by any provincial health plan in Canada.

Worldwide sales of MitraClip were $176 million in the quarter, an increase of 30.4 percent on a reported basis and 31.9 percent on an organic basis, including U.S. growth of 45.7 percent versus the prior year. During the third quarter, Abbott announced U.S. FDA approval of its next-generation MitraClip device, which offers enhancements and more sizes to offer doctors further options.

Co issues in-line guidance for Q4, sees EPS of $0.94-0.96, excluding non-recurring items, vs. $0.95 S&P Capital IQ Consensus.

Co issues in-line guidance for FY19, sees EPS of $3.23-3.25 from $3.21-3.27, excluding non-recurring items, vs. $3.24 S&P Capital IQ Consensus.