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AbbVie Missed EPS Estimates in Q4 2018

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Jan. 29 2019, Updated 7:32 a.m. ET

EPS performance

In the fourth quarter of 2018, AbbVie (ABBV) reported adjusted diluted EPS of $1.90, a YoY rise of 28.4%. The performance is in line with the guidance of $1.89 to $1.91 provided by the company in its third quarter earnings conference call. However, investors were disappointed as the company missed the consensus EPS estimate by $0.04.

In fiscal 2018, AbbVie reported adjusted diluted EPS of $7.91, a YoY rise of 41.3%. AbbVie reported GAAP diluted loss per share of $1.23 in the fourth quarter of 2018 and GAAP diluted EPS of $3.66 for fiscal 2018.

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Wall Street analysts expect AbbVie to report adjusted diluted EPS of $2.04 in the first quarter of 2019, a rise of 9.1% on a YoY basis and 7.37% on a sequential basis. According to the company’s fourth-quarter earnings conference call, AbbVie expects its revenues to be $7.7 billion in the first quarter of 2019 despite the assumption of an unfavorable sales growth impact of 2% at the current foreign exchange rates. The company has projected its adjusted diluted EPS for the first quarter of 2019 to fall in the range of $2.05 to $2.07.

Revenue projections for fiscal 2019

According to the company’s fourth-quarter earnings conference call, AbbVie expects to report adjusted diluted EPS in the range of $8.65 to $8.75, which would imply a YoY rise of 10% at the midpoint. The company included the negative impact of $1.26 associated with one-time events such as amortization of intangible assets and certain non-cash charges. Wall Street analysts expect AbbVie to report adjusted diluted EPS of $8.74 in fiscal 2019, a YoY rise of 10.48%.

In the next article, we’ll discuss the performance of Humira, AbbVie’s leading asset, in fiscal 2018.

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