Abbott Laboratories (NYSE:ABT) reported steady growth in the third quarter, with sales rising 6.9% to $11.37 billion, slightly below estimates of $11.4 billion, and adjusted earnings per share matching expectations at $1.30.
The company’s results were driven by broad-based strength across Abbott’s medical devices and diagnostics businesses, even as COVID-19 testing-related revenue continued to normalize.
Reported operating margin was 18.1% of sales, while adjusted operating margin rose 40 basis points to 23%.
Organic sales grew 5.5%, or 7.5% when excluding COVID-19 testing-related revenue.
Year-to-date, Abbott’s sales rose 6.1% on a reported basis and 6.4% organically, or 7.7% excluding COVID-19 testing-related sales.
"Our third-quarter results demonstrate our ability to deliver consistent, high-quality performance," Abbott CEO Robert Ford said in a statement.
"Our differentiated product pipeline continues to power our performance and positions Abbott to deliver durable long-term value to our shareholders."
The company reaffirmed its full-year 2025 guidance for organic sales growth of 7.5% to 8% excluding COVID-19 testing-related sales.
It also narrowed its adjusted EPS guidance range to $5.12 to $5.18, reflecting double-digit growth at the midpoint.
Shares of Abbott traded lower post-earnings, down 2.7% at about $129.