Abbott Laboratories reported Q3 2024 net sales of $10.6 billion, up 4.9% year-over-year, with organic growth of 7.4% excluding foreign exchange impact. Medical Devices segment led growth with an 11.7% increase to $4.7 billion, driven by strong performance in Diabetes Care where CGM systems sales reached $4.7 billion year-to-date. Operating earnings rose to $1.9 billion from $1.6 billion in Q3 2023.The company's gross profit margin improved to 51.4% from 49.7% in Q3 2023, benefiting from higher pricing and margin improvement initiatives despite foreign exchange headwinds. COVID-19 testing-related sales declined to $265 million from $305 million in the prior year quarter, while core business growth remained strong across segments, particularly in Medical Devices and Established Pharmaceuticals.Looking ahead, Abbott maintains a strong financial position with $7.6 billion in cash and cash equivalents as of September 30, 2024. The company increased its quarterly dividend by 7.8% to $0.55 per share and authorized a new $7 billion share repurchase program in October 2024, demonstrating confidence in its growth trajectory and commitment to shareholder returns.

Abbott Laboratories reported Q3 2024 net sales of $10.6 billion, up 4.9% year-over-year, with organic growth of 7.4% excluding foreign exchange impact. Medical Devices segment led growth with an 11.7% increase to $4.7 billion, driven by strong performance in Diabetes Care where CGM systems sales reached $4.7 billion year-to-date. Operating earnings rose to $1.9 billion from $1.6 billion in Q3 2023.The company's gross profit margin improved to 51.4% from 49.7% in Q3 2023, benefiting from higher pricing and margin improvement initiatives despite foreign exchange headwinds. COVID-19 testing-related sales declined to $265 million from $305 million in the prior year quarter, while core business growth remained strong across segments, particularly in Medical Devices and Established Pharmaceuticals.Looking ahead, Abbott maintains a strong financial position with $7.6 billion in cash and cash equivalents as of September 30, 2024. The company increased its quarterly dividend by 7.8% to $0.55 per share and authorized a new $7 billion share repurchase program in October 2024, demonstrating confidence in its growth trajectory and commitment to shareholder returns.