Abbott trims forecast
Abbott beat first‑quarter estimates on strength in medical devices and cancer diagnostics but cut its full‑year profit forecast citing the $23 billion Exact Sciences acquisition as a near‑term drag. The company’s shares fell about 5% after the update, highlighting integration‑related margin pressure at a major diagnostics supplier. (reuters.com)
Abbott beat first-quarter estimates, then cut its 2026 profit forecast after closing its Exact Sciences deal, and the stock slid about 5%. (reuters.com) The company reported adjusted earnings of $1.15 a share on $11.16 billion in revenue for the quarter ended March 31, topping analyst expectations of $1.14 a share on $11.10 billion. (reuters.com) Abbott now expects 2026 adjusted diluted earnings of $5.38 to $5.58 a share, down from its prior range of $5.55 to $5.80, and said the new outlook includes $0.20 a share of dilution from Exact Sciences. (abbott.mediaroom.com) Exact Sciences makes cancer-screening and diagnostic tests, including the Cologuard stool DNA test for colorectal cancer, and Abbott closed the acquisition on March 23, 2026. (medtechdive.com) That purchase pushes Abbott deeper into oncology diagnostics, a business that looks for cancer signals in blood, tissue, or stool samples and turns them into lab results doctors can use. Abbott said the deal makes it a leader in the oncology diagnostics market. (abbott.mediaroom.com) The first-quarter beat came from businesses Abbott already knew well. Medical devices posted 8.5% comparable sales growth, and the diagnostics unit got a lift from cancer testing while rapid and molecular diagnostics fell 10% on weaker respiratory testing demand. (reuters.com) Abbott kept its full-year comparable sales growth forecast at 6.5% to 7.5%, which means the revenue outlook held even as profit guidance moved lower. (abbott.mediaroom.com) Chief Executive Robert Ford said the companies are a good cultural fit and said Abbott expects demand for Exact’s colon cancer screening test to rise, even with the near-term earnings hit. (medtechdive.com) Investors focused on the near-term math instead. Reuters reported the shares were down more than 4% before the bell on April 16 after Abbott tied the lower forecast to the Exact deal. (reuters.com) The next test is whether Abbott can turn that new cancer-testing scale into growth fast enough to offset the integration costs it just told investors to expect. (abbott.mediaroom.com)
