Quick Verdict: Abbott reported Q1 2026 net sales of $11.164 billion and GAAP diluted EPS of $0.61, with adjusted EPS of $1.15 growing 6% year over year. Revenue modestly beat consensus while EPS was roughly in line, and early reports indicate a muted to slightly negative stock reaction on cautious guidance tied to the Exact Sciences acquisition.
About Abbott
Abbott Laboratories (NYSE: ABT) is a diversified global healthcare company focused on diagnostics, medical devices, nutritionals and branded generic pharmaceuticals. Founded in 1888 and headquartered in Abbott Park, Illinois, the company serves patients in more than 160 countries. Abbott employs approximately 122,000 people worldwide, reflecting its large-scale presence across multiple healthcare markets. The company’s portfolio now includes a leading oncology diagnostics franchise following the completion of its acquisition of Exact Sciences on March 23, 2026.
Abbott is a long‑standing dividend payer, having increased its dividend for 54 consecutive years and declaring its 409th consecutive quarterly dividend of $0.63 per share payable May 15, 2026. While the press release does not specify current market cap or valuation metrics, market data around the release placed Abbott in the large‑cap healthcare peer group with a mature dividend profile and stable earnings base.
Top Financial Highlights
- Total Q1 2026 net sales were $11.164 billion, up 7.8% reported and 3.7% on a comparable basis versus Q1 2025.
- GAAP diluted EPS was $0.61, while adjusted diluted EPS reached $1.15, representing 6% growth year over year.
- GAAP net earnings were $1.077 billion, down 18.7% from $1.325 billion in Q1 2025, reflecting higher operating expenses and acquisition‑related items.
- Net earnings excluding specified items were $2.022 billion, up 5.4% from $1.919 billion a year ago.
- Total company gross margin (GAAP) was $5.852 billion, and adjusted gross margin (excluding specified items) was $6.284 billion.
- Operating earnings (GAAP) were $1.345 billion, down from $1.693 billion in Q1 2025, while adjusted pre‑tax income was $2.385 billion.
- Nutrition segment sales were $2.017 billion, down 6.0% reported and 7.7% comparable, driven by lower volumes and prior strategic pricing actions.
- Diagnostics segment sales were $2.180 billion, up 6.1% reported and 1.8% comparable; within this, Cancer Diagnostics (Exact Sciences) contributed $96 million with 13.4% comparable growth.
- Established Pharmaceuticals sales reached $1.426 billion, increasing 13.2% reported and 9.0% on a comparable basis, led by key emerging markets.
- Medical Devices remained the largest business with $5.539 billion in sales, up 13.2% reported and 8.5% comparable, supported by double‑digit growth in electrophysiology, heart failure and rhythm management.
- Diabetes Care within Medical Devices delivered $2.080 billion in sales, with continuous glucose monitoring products growing 14.2% reported and 7.6% comparable.
- Operating expenses rose, with R&D at $767 million and SG&A at $3.740 billion, reflecting investment in growth initiatives and integration of Exact Sciences.
- Abbott ended the quarter benefiting from a net tax rate of 25.6% on a GAAP basis and 15.2% excluding specified items, aided by tax benefits related to prior‑year positions.
- Full‑year 2026 guidance calls for comparable sales growth of 6.5%–7.5% and adjusted diluted EPS of $5.38–$5.58, including $0.20 of dilution from the Exact Sciences deal; Q2 2026 adjusted EPS is guided to $1.25–$1.31.
Beat or Miss?
Analysts’ expectations are drawn from LSEG and other market sources, while reported figures come from Abbott’s release.
| Metric | Reported | Difference/Analysis |
| Revenue | $11.164 billion | Slight beat vs. consensus around $11.0–$11.11 billion, implying a modest outperformance. |
| GAAP diluted EPS | $0.61 | GAAP EPS not the primary Street focus; reflects acquisition and restructuring costs. |
| Adjusted diluted EPS | $1.15 | Roughly in line with consensus of about $1.14–$1.16; some sources cite a $0.01 miss vs. $1.16. |
| Comparable sales growth | 3.7% | Consistent with management’s expectations; supports full‑year 6.5%–7.5% growth outlook. |
| Medical Devices revenue | $5.539 billion | Strong double‑digit reported growth, driven by electrophysiology, heart failure and CGM. |
| Diagnostics revenue | $2.180 billion | Slight growth helped by cancer diagnostics; Rapid/Molecular weighed on segment. |
| Adjusted EPS full‑year guide | $5.38–$5.58 | Trimmed versus prior setup due to $0.20 acquisition‑related dilution; viewed as cautious. |
What Leadership Is Saying?
“Our first-quarter results were aligned with our expectations to start the year. The acquisition of Exact Sciences adds another high-growth business to the Abbott portfolio, further strengthening our confidence in delivering accelerating growth as we move through the year.” — Robert B. Ford, chairman and chief executive officer
Abbott’s financial leadership noted that the updated 2026 guidance incorporates $0.20 of EPS dilution tied to the Exact Sciences acquisition, reflecting integration expenses and near-term margin pressure while still targeting 6.5%–7.5% comparable sales growth for the year.
Historical Performance
Year‑over‑year comparisons are based on Abbott’s condensed consolidated statements and non‑GAAP reconciliations.
| Category | Q1 2026 (Current) | Q1 2025 (Previous Year) | Change (%) |
| Revenue (Net Sales) | $11.164 billion | $10.358 billion | +7.8% reported |
| Net Earnings (GAAP) | $1.077 billion | $1.325 billion | −18.7% |
| Net Earnings (Adj.) | $2.022 billion | $1.919 billion | +5.4% |
| Diluted EPS (GAAP) | $0.61 | $0.76 | n/m (decline on GAAP basis) |
| Diluted EPS (Adj.) | $1.15 | $1.09 | +5.5% |
| Operating Expenses (R&D + SG&A) | $4.507 billion (767+3,740) | $3.777 billion (716+3,061) | +19.3% approx. |
Historical Performance
Public competitor Q1 2026 reports around the same period provide context for Abbott’s growth profile. (Figures are illustrative peer benchmarks from recent reporting; where exact quarterly numbers are not specified in the provided sources, cells are marked N/A.)
| Category | Abbott Q1 2026 | Abbott Q1 2025 | Change (%) |
| Revenue | $11.164 billion | $10.358 billion | +7.8% |
| Net Earnings (Adj.) | $2.022 billion | $1.919 billion | +5.4% |
| Operating Expenses (Adj.)* | N/A | N/A | N/A |
How the Market Reacted?
Following the earnings release and guidance update, Abbott shares traded lower as investors focused on the tempered profit outlook tied to the Exact Sciences acquisition. Reports noted that the company’s adjusted EPS met or was effectively in line with consensus, while revenue slightly exceeded expectations, but the EPS dilution from the deal weighed on sentiment.
Over the prior three months, Abbott’s stock had already declined roughly 16%–17%, and was down more than 22% year over year heading into the print. Overall, the quarter appears fundamentally solid with healthy device and oncology diagnostics growth, but the near‑term guidance and integration costs are driving a cautious to mildly bearish market reaction despite management’s confident tone on accelerating growth later in 2026.