AbbVie Earnings Forecasts Dip Slightly as Sales Growth Holds

Analysts have made small downward revisions to AbbVie’s earnings estimates over the past month, while still forecasting growth in earnings and revenue. The current-quarter earnings consensus is $3.85 per share, up 107% from a year earlier, according to Zacks.

The quarterly estimate fell 0.1% over the past 30 days. The consensus for the current fiscal year is $14.05 per share, up 40.5% year over year, and also down 0.1% over the month. Next fiscal year’s estimate is $16.12 per share, up 14.8%, after a 0.2% reduction.

Sales estimates point to continued growth. Analysts expect $17.36 billion in revenue for the current quarter, a 10% increase from a year earlier. Forecasts for the current and next fiscal years are $67.56 billion and $73.39 billion, respectively.

In its last reported quarter, AbbVie posted $16.99 billion in revenue, up 10.2% year over year, and earnings of $3.65 per share, compared with $2.97 a year earlier. Revenue exceeded the consensus estimate by 1.07%, while earnings beat it by 0.27%. The company topped earnings and revenue estimates in each of the past four quarters.

Over the past month, AbbVie shares returned -0.1%, compared with -0.4% for the Zacks S&P 500 composite and a 0.9% loss for the Zacks Large Cap Pharmaceuticals industry.