Abbott Laboratories (NYSE:ABT) shares moved lower as disappointing guidance overshadowed solid second quarter results.
The company now expects full-year earnings per share (EPS) in the range of $5.10 to $5.20, which reflects double-digit growth at the midpoint, tightening from earlier guidance of $5.05 to $5.25.
Q3 EPS was guided in the range of $1.28 to $1.32, slightly below the Street forecast of approximately $1.33 to $1.34.
Abbott continues to expect full-year sales growth of 7.5% to 8%, excluding COVID-19 testing-related sales, or 6% to 7% when including those sales.
For Q2, the company reported sales growth of 7.4%, or 7.5% excluding COVID-19 testing-related sales.
Revenue was $11.42 billion, higher than the $11.07 billion expected by analysts.
Medical devices led segment sales, up 13.4% year-over-year, with diabetes care up more than 21%. Sales in the diagnostics segment were down 1% year-over-year.
Adjusted EPS was $1.26, in line with estimates.
"Halfway through the year, we delivered high single-digit organic sales growth, double-digit EPS growth, significantly expanded our margin profiles, and continued to advance key programs through our new product pipeline," Abbott CEO Robert Ford said in a statement. "We see this momentum carrying into 2026."
Shares of Abbott traded down 6.7% at about $123 on Thursday morning in New York.