Abbott Laboratories (NYSE: ABT) today announced financial results for the second quarter ended June 30, 2018.
The company, based out of Abbott Park, Illinois, stated in a news release Wednesday morning that second-quarter worldwide sales of $7.8 billion increased 17% on a reported basis and 8% on an organic basis.
Reported diluted EPS from continuing operations under GAAP was $0.40 in the second quarter.
The release also revealed that Abbott is raising its full-year 2018 EPS guidance range, which continues to reflect strong double-digit growth.
Abbott projects full-year diluted EPS from continuing operations on a GAAP basis of $1.34 to $1.40. Projected full-year adjusted diluted EPS from continuing operations is now $2.85 to $2.91.
Abbott is issuing third-quarter 2018 guidance for diluted earnings per share from continuing operations under GAAP of $0.32 to $0.34. Abbott forecasts specified items for the third quarter 2018 of $0.41 primarily related to intangible amortization, acquisition-related expenses, cost reduction initiatives and other expenses.
Excluding specified items, projected adjusted diluted earnings per share from continuing operations would be $0.73 to $0.75 for the third quarter.
In June the board of directors of Abbott declared the company's quarterly dividend of $0.28 per share. Abbott's cash dividend is payable Aug. 15, to shareholders of record at the close of business on July 13
CEO Miles White said "All four of our businesses exceeded expectations and contributed to strong growth overall. We forecast continued strong performance and are raising our full-year outlook despite recent currency shifts."
Abbott shares grew $1.92, or 3.1%, to $64.72
