Abbott Q2 profit dropped to $892M from $1.3B, but FY26 adjusted EPS view raised to $5.05-$5.25. Shares jumped 11% on the medical-device sales beat.
Shares of Abbott Laboratories (ABT) rose roughly 11% in early NYSE trading Thursday after the medical-device and health-care company lifted its fiscal 2026 adjusted earnings outlook even as second-quarter profit fell sharply.
Abbott reported net earnings of $892 million, or 51 cents a share, for the quarter ended June 30, down from $1.3 billion, or 75 cents a share, a year earlier. Adjusted earnings, which strip out one-time items, came in at $1.19 a share. Total sales rose 4.3% to $10.4 billion, the company said.
The company now expects full-year adjusted per-share earnings of $5.05 to $5.25, up from a prior range of $4.65 to $4.85. It reaffirmed its full-year organic sales growth forecast of 7.5% to 8.5%.
Medical-device sales, Abbott's largest segment, grew 13% on an organic basis, the company said. Established pharmaceuticals revenue rose 7.4% organically, while diagnostics sales fell 5.6% and nutrition revenue slipped 1.8%.
Abbott said the second-quarter results benefited from higher gross margins on better product mix and lower raw-material costs, partially offset by higher spending on new-product launches.
The company's ABT stock page carries an Alpha Score of 34 out of 100, classified as Weak, within the healthcare sector.
The stock traded at $132.10, up from Wednesday's close of $119.01.
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