Business

AbbVie reports mixed earnings, tightening guidance, quarterly dividend hike


  • AbbVie Inc (NYSE: ABBV) is reported 3rd quarter adjusted EPS was $3.66up 29.3% year-over-year and beat the consensus of $3.59.

  • Total revenue grew 3.3% year-on-year (5.4% on an operating basis) to $14.81 billion, missing consensus at $14.96 billion.

  • The immunology portfolio generated revenue of $7.65 billion, +14.6 percent (+16.4 percent on an active basis). Humira sales rose 2.5% to $5.56 billion. Skyrizi’s revenue came in at $1.39 billion (+75.4% y/y) and Rinvoq grew 53.5% to $695 million.

  • Hematologic oncology portfolio revenue was $1.65 billion, down 11.7% (-9.9% on an operations basis). Imbruvica sales fell 17.4% to $1.34 billion. Venclexta’s revenue grew 4.5% to $515 million.

  • Revenue from the neuroscience category came in at $1.67 billion, +6.7 percent. Cosmetic portfolio sales increased 4% (+8.1 percent on an operating basis) to $1.30 billion, with $637 million in Botox sales for cosmetic use.

  • Dividend: AbbVie increased its quarterly dividend 5% from $1.41 per share to $1.48 per share.

  • Guide: AbbVie confirms 22 year EPS adjusted guidance and narrows the range from $13.76 – $13.96 to $13.84 – $13.88, compared to consensus of $13.86.

  • Price action: ABBV stock was up 0.71% at $150.89 in pre-market trading last Friday.

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