Abbott Reports Q1 Decline: Foreign Exchange & COVID Hit Sales. But Excluding That? A 9.4% Increase.
$ABT reports 10% organic growth in Q1 2023, driven by Medical Devices, Established Pharmaceuticals, and Nutrition businesses.
Abbott announces Q1 2023 financial results reporting a decrease of 18% in sales but an organic growth of 10% in Medical Devices, Established Pharmaceuticals, and Nutrition. Nutrition recorded a global increase in sales, Pediatric Nutrition having the most significant rise of 18.4%. Abbott Laboratories reaffirms its 2023 sales outlook and continues to focus on its organic growth strategy. The company's cash dividend is payable on May 15, 2023, to shareholders of records. Overall, Abbott's Q1 results present a positive outlook, driven by strong organic growth and strategic partnerships.