Abbott (ABT) said it recorded another quarter of strong growth with an increase in adjusted earnings per share of 22.2 percent year-over-year. Sales were up 14.3 percent on an organic basis, which excludes the impact of foreign exchange. Looking forward, the company increased its full-year 2022 EPS guidance. The company noted that its 2022 guidance includes projected COVID-19 testing-related sales of $6.1 billion, which includes sales of $5.6 billion through June 2022 and projected sales of $500 million over the next few months.
Excluding items, second-quarter adjusted EPS was $1.43 compared to $1.17, prior year. On average, 18 analysts polled by Thomson Reuters expected the company to report profit per share of $1.12, for the quarter. Analysts' estimates typically exclude special items. Net earnings excluding specified items was $2.54 billion, up 20.2% from previous year.
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