Abbott Reports Second-Quarter 2025 Results
Second-quarter reported sales growth of 7.4 percent; organic sales growth of 6.9 percent or 7.5 percent excluding COVID-19 testing-related sales1
Second-quarter GAAP diluted EPS of $1.01; adjusted diluted EPS of $1.26
Reported gross margin of 52.7 percent of sales; adjusted gross margin of 57.0 percent, which reflects a 100 basis point increase
Reported operating margin of 18.4 percent of sales; adjusted operating margin of 22.9 percent, which reflects a 100 basis point increase
ABBOTT PARK, Ill., July 17, 2025 /PRNewswire/ -- Abbott (NYSE:ABT) today announced financial results for the second quarter ended June 30, 2025.
Second-quarter sales increased 7.4 percent on a reported basis, 6.9 percent on an organic basis, or 7.5 percent when excluding COVID-19 testing-related sales1.
Second-quarter GAAP diluted EPS of $1.01 and adjusted diluted EPS of $1.26, which excludes specified items and reflects double-digit growth compared to the prior year.
First-half sales increased 5.7 percent on a reported basis, 6.9 percent on an organic basis, or 7.9 percent when excluding COVID-19 testing-related sales2.
Abbott projects full-year 2025 organic sales growth, excluding COVID-19 testing-related sales, to be 7.5% to 8.0%, or 6.0% to 7.0% when including COVID-19 testing-related sales.
Abbott projects full-year 2025 adjusted diluted EPS of $5.10 to $5.20, which reflects double-digit growth at the midpoint.
In April, Abbott completed enrollment ahead of schedule in its FlexPulse U.S. IDE trial, which is designed to evaluate the TactiFlex™ Duo Pulsed Field Ablation (PFA) System for treating patients with heart rhythm disorders such as atrial fibrillation (AFib).
In April, Abbott announced late-breaking data from the AVEIR™ Conduction System Pacing (CSP) clinical feasibility study. This study was the world's first assessment of a leadless pacemaker delivering conduction pacing, which produces pacing that closely mimics the heart's natural electrical rhythm and represents a new treatment option for people with irregular heart rhythms.
In May, Abbott announced U.S. Food and Drug Administration (FDA) approval of the company's Tendyne™ transcatheter mitral valve replacement (TMVR) system, a first-of-its-kind device to help treat people with mitral valve disease.
Abbott has initiated plans to develop a new cardiovascular device manufacturing facility in the state of Georgia to be completed by 2028.
"Halfway through the year, we delivered high single-digit organic sales growth, double-digit EPS growth, significantly expanded our margin profiles, and continued to advance key programs through our new product pipeline," said Robert B. Ford, chairman and chief executive officer, Abbott. "We see this momentum carrying into 2026."
SECOND-QUARTER BUSINESS OVERVIEWManagement believes that measuring sales growth rates on an organic basis, which excludes the impact of foreign exchange and the impact of discontinuing the ZonePerfect® product line in the Nutrition business, is an appropriate way for investors to best understand the core underlying performance of the business. Management further believes that measuring sales growth rates on an organic basis excluding COVID-19 tests is an appropriate way for investors to best understand the underlying performance of the company as the demand for COVID-19 tests has significantly declined following the transition from a pandemic to endemic phase.
Note: In order to compute results excluding the impact of exchange rates, current year U.S. dollar sales are multiplied or divided, as appropriate, by the current year average foreign exchange rates and then those amounts are multiplied or divided, as appropriate, by the prior year average foreign exchange rates.
Second Quarter 2025 Results (2Q25)
Sales 2Q25 ($ in millions)
Total Company
Nutrition
Diagnostics
Established Pharmaceuticals
Medical Devices
U.S.
4,276
957
811
—
2,503
International
6,866
1,255
1,362
1,383
2,866
Total reported
11,142
2,212
2,173
1,383
5,369
% Change vs. 2Q24
U.S.
8.7
2.6
(0.1)
n/a
14.6
International
6.6
3.1
(1.5)
6.9
12.4
Total reported
7.4
2.9
(1.0)
6.9
13.4
Impact of foreign exchange
0.5
(0.5)
0.4
(0.8)
1.2
Organic
6.9
3.4
(1.4)
7.7
12.2
Impact of COVID-19 testing sales 1
(0.6)
—
(2.2)
—
—
Organic (excluding COVID-19 tests)
7.5
3.4
0.8
7.7
12.2
Organic
U.S.
8.7
2.6
(0.1)
n/a
14.6
International
5.8
4.0
(2.2)
7.7
10.1
First Half 2025 Results (1H25)
Sales 1H25 ($ in millions)
Total Company
Nutrition
Diagnostics
Established Pharmaceuticals
Medical Devices
U.S.
8,444
1,912
1,682
—
4,842
International
13,056
2,446
2,545
2,643
5,422
Total reported
21,500
4,358
4,227
2,643
10,264
% Change vs. 1H24
U.S.
8.5
5.6
(3.5)
n/a
14.8
International
3.9
1.6
(4.5)
4.9
9.1
Total reported
5.7
3.3
(4.1)
4.9
11.7
Impact of foreign exchange
(1.1)
(1.5)
(0.9)
(2.9)
(0.7)
Impact of business exit*
(0.1)
(0.3)
—
—
—
Organic
6.9
5.1
(3.2)
7.8
12.4
Impact of COVID-19 testing sales 2
(1.0)
—
(3.9)
—
—
Organic (excluding COVID-19 tests)
7.9
5.1
0.7
7.8
12.4
Organic
U.S.
8.7
6.4
(3.5)
n/a
14.8
International
5.8
4.1
(3.0)
7.8
10.3
Refer to table titled "Non-GAAP Revenue Reconciliation" for a reconciliation of adjusted historical revenue to reported revenue.
*Reflects the impact of discontinuing the ZonePerfect® product line in the Nutrition business in March 2024.
Nutrition
Second Quarter 2025 Results (2Q25)
Sales 2Q25 ($ in millions)
Total
Pediatric
Adult
U.S.
957
587
370
International
1,255
467
788
Total reported
2,212
1,054
1,158
% Change vs. 2Q24
U.S.
2.6
4.2
0.2
International
3.1
(5.7)
9.2
Total reported
2.9
(0.4)
6.1
Impact of foreign exchange
(0.5)
(0.6)
(0.5)
Organic
3.4
0.2
6.6
U.S.
2.6
4.2
0.2
International
4.0
(4.5)
9.8
Worldwide Nutrition sales increased 2.9 percent on a reported basis and 3.4 percent on an organic basis in the second quarter.
Growth in the quarter was led by Adult Nutrition, where global sales increased 6.1 percent on a reported basis and 6.6 percent on an organic basis, led by strong growth of Ensure®, Abbott's market-leading complete and balanced nutrition brand, and Glucerna®, Abbott's market-leading brand of products designed to meet the nutritional requirements for people with diabetes.
First Half 2025 Results (1H25)
Sales 1H25 ($ in millions)
Total
Pediatric
Adult
U.S.
1,912
1,175
737
International
2,446
920
1,526
Total reported
4,358
2,095
2,263
% Change vs. 1H24
U.S.
5.6
9.0
0.6
International
1.6
(7.0)
7.7
Total reported
3.3
1.3
5.3
Impact of foreign exchange
(1.5)
(1.2)
(1.6)
Impact of business exit*
(0.3)
—
(0.7)
Organic
5.1
2.5
7.6
U.S.
6.4
9.0
2.4
International
4.1
(4.6)
10.2
*Reflects the impact of discontinuing the ZonePerfect® product line in the Nutrition business in March 2024.
Diagnostics
Second Quarter 2025 Results (2Q25)
Sales 2Q25 ($ in millions)
Total
Core Laboratory
Molecular
Point of Care
RapidDiagnostics
U.S.
811
351
35
104
321
International
1,362
1,007
88
44
223
Total reported
2,173
1,358
123
148
544
% Change vs. 2Q24
U.S.
(0.1)
7.3
5.5
(2.0)
(7.1)
International
(1.5)
0.5
(5.6)
(11.9)
(6.1)
Total reported
(1.0)
2.2
(2.7)
(5.1)
(6.7)
Impact of foreign exchange
0.4
0.6
0.7
0.1
0.1
Organic
(1.4)
1.6
(3.4)
(5.2)
(6.8)
U.S.
(0.1)
7.3
5.5
(2.0)
(7.1)
International
(2.2)
(0.3)
(6.5)
(12.1)
(6.3)
Global Diagnostics sales decreased 1.0 percent on a reported basis, decreased 1.4 percent on an organic basis, and increased 0.8 percent when excluding COVID-19 testing-related sales1.
Diagnostics sales growth was impacted by the year-over-year decline in COVID-19 testing-related sales and volume-based procurement programs in China.
COVID-19 testing-related sales were $55 million in the quarter, compared to $102 million in the second quarter of the prior year.
Global Core Laboratory Diagnostics sales increased 2.2 percent on a reported basis and increased 1.6 percent on an organic basis. Growth in the quarter was impacted by volume-based procurement programs in China.
First Half 2025 Results (1H25)
Sales 1H25 ($ in millions)
Total
Core Laboratory
Molecular
Point of Care
RapidDiagnostics
U.S.
1,682
683
75
204
720
International
2,545
1,852
170
86
437
Total reported
4,227
2,535
245
290
1,157
% Change vs. 1H24
U.S.
(3.5)
7.2
—
(0.3)
(12.8)
International
(4.5)
(2.4)
(6.1)
(4.5)
(12.3)
Total reported
(4.1)
0.1
(4.4)
(1.6)
(12.6)
Impact of foreign exchange
(0.9)
(1.2)
(1.0)
(0.4)
(0.6)
Organic
(3.2)
1.3
(3.4)
(1.2)
(12.0)
U.S.
(3.5)
7.2
—
(0.3)
(12.8)
International
(3.0)
(0.7)
(4.9)
(3.3)
(10.7)
Established Pharmaceuticals
Second Quarter 2025 Results (2Q25)
Sales 2Q25 ($ in millions)
Total
Key EmergingMarkets
Other
U.S.
—
—
—
International
1,383
1,059
324
Total reported
1,383
1,059
324
% Change vs. 2Q24
U.S.
n/a
n/a
n/a
International
6.9
7.3
5.9
Total reported
6.9
7.3
5.9
Impact of foreign exchange
(0.8)
(1.4)
1.4
Organic
7.7
8.7
4.5
U.S.
n/a
n/a
n/a
International
7.7
8.7
4.5
Established Pharmaceuticals sales increased 6.9 percent on a reported basis and 7.7 percent on an organic basis in the second quarter.
Key Emerging Markets include several emerging countries that represent the most attractive long-term growth opportunities for Abbott's branded generics product portfolio. Sales in these geographies increased 7.3 percent on a reported basis and 8.7 percent on an organic basis, led by double-digit growth in several countries across Asia, Latin America and the Middle East.
First Half 2025 Results (1H25)
Sales 1H25 ($ in millions)
Total
Key Emerging Markets
Other
