Abbott Laboratories announced Double-Digit Growth in Operating Income in 2020 Q3 Earning Results

Abbott Laboratories (NYSE: ABT) announced its 2020 Q3 earning results on October 21st, 2020. In 2020 Q2, Abbott showed decline in its sales and income due to postponements of non-essential surgeries. However, its sales were increased by 9.6% in the 3rd quarter and operating income showed double-digit growth. 

Abbott’s drastic growth in the 3rd quarter was driven by 38.2% growth (YoY, 3 months) in the sales of diagnostics, including those for detecting COVID-19.  In this regard, rapid diagnostics such as recently approved BinaxNOWTM COVID-19 Ag Card rapid test showed 83.2% growth in its sales (YoY, 3months). Molecular diagnostic such as laboratory use COVID-19 detection system showed as many as 313.1% growth (YoY, 3 months). 

In medical devise segment such as surgical medical devise, its sales showed double-digit significant decrease due to the postponement of non-essential surgery in 2020 Q2. However, its sales recovered to single-digit decrease in the 3rd quarter, expecting the future rebound in its demands. We expect that Abbott’s financial performance would be continuously improved in 2020 Q4. 

Important Notice 

  1. Watanabe & Brothers’ Investment is holding shares of Abbott Laboratories.
  2. This report is provided solely for informational purpose and not intended for the purpose of soliciting investment in, or as a recommendation to purchase or sell any specific products. 
  3. Any opinions or statements expressed in this report are based on the author’s personal and subjective views, and are not the official views of the organization to which the author belongs.  In addition, although we have done our best efforts in making accurate assessments on the original financial statements, we cannot guarantee any complete accuracy of this report. We do not guarantee either that any future forecasts referred to in this report will certainly be realized. Investment in listed stocks, ETFs, etc. should be carried out under the responsibility of each investor, and even if the investor who read this report suffers a loss due to investment activities, Watanabe & Brothers’  Investment is not responsible for any liability.
  4. This report was originally prepared in English, and translated into the other languages with plugin utilizing Google Translation API. We hereby notify that the translations are provided only for the sake of reference, and any opinions or statements in this report should be interpreted in original English. We ask any investors reading this report to refer to the original financial statements issued by the company.
Translate »
%d bloggers like this: