Abbott Laboratories on Wednesday forecast first-quarter profit below Wall Street estimates, along with weak fourth-quarter sales in segments other than medical devices, sending its shares down 1% in premarket trading.
The company expects a first-quarter adjusted profit of $1.05 to $1.09 per share, missing analysts' average estimate of $1.11.
Revenue for the fourth quarter rose 7.2% to $10.97 billion, but missed analysts' average estimate of $11.01 billion, according to estimates compiled by LSEG.
While sales in the company's medical devices segment beat estimates, its nutrition, diagnostics, and generic drug units missed estimates.
Sales of continuous glucose monitors such as Abbott's FreeStyle Libre and rivals from DexCom (NASDAQ:DXCM) have been lifted by increasing diabetes care awareness, bigger insurance coverage and preference for devices that do not need finger pricks.
Abbott expects an adjusted profit of $5.05 to $5.25 per share for 2025, compared with analysts' average profit expectation of $5.16.
On an adjusted basis, the company reported a quarterly profit of $1.34 per share, in line with analysts' average expectations.
