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Category: AbbVie (ABBV)
Date: 3 November 2020 Stock price of Abbvie: $88.25 We take a look at the 3rd quarter 2020 earnings report of AbbVie (ABBV) a biopharmaceutical firm that discovers, develops and commercialises advance medical therapies. The group reported revenues of $12.9 billion and net income of $2.308 billion.
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We continue to be very well positioned for the long-term. Results from key growth products – including Skyrizi, Rinvoq and Ubrelvy – continue to track ahead of our expectations, our aesthetics portfolio is demonstrating a strong V-shaped recovery, our hematologic-oncology franchise is delivering double-digit growth and we’re advancing numerous attractive late-stage pipeline programs - Richard A. Gonzalez, chairman and chief executive officer "
More About AbbVie (ABBV)
AbbVie's mission is to discover and deliver innovative medicines that solve serious health issues today and address the medical challenges of tomorrow. We strive to have a remarkable impact on people's lives across several key therapeutic areas: immunology, oncology, neuroscience, eye care, virology, women's health and gastroenterology, in addition to products and services across its Allergan Aesthetics portfolio.
AbbVie discovers, develops, and commercializes advanced therapies that have an impact on people's lives. Today, our passionate AbbVie team has approximately 47,000 employees working together to help patients around the world
AbbVie discovers, develops, and commercializes advanced therapies that have an impact on people's lives. Today, our passionate AbbVie team has approximately 47,000 employees working together to help patients around the world
Overview of AbbVie 3rd quarter 2020 earnings report
The summary below shows the main highlights of AbbVie's 3rd quarters 2020 earnings report
- Reports Third-Quarter Diluted EPS of $1.29 on a GAAP Basis; Adjusted Diluted EPS of $2.83
- Delivers Third-Quarter Net Revenues of $12.902 Billion on a GAAP Basis, an Increase of 52.1 Percent on a Reported Basis; Adjusted Net Revenues Were $12.882 Billion
- Third-Quarter Global Net Revenues from the Immunology Portfolio Were $5.790 Billion, an Increase of 14.8 Percent on a Reported Basis, or 15.0 Percent on an Operational Basis; U.S. Humira Net Revenues Were $4.189 Billion, an Increase of 7.7 Percent; Internationally, Humira Net Revenues Were $951 Million, a Decrease of 9.3 Percent on a Reported Basis, or 8.0 Percent on an Operational Basis, Due to Biosimilar Competition; Global Skyrizi Net Revenues Were $435 Million; Global Rinvoq Net Revenues Were $215 Million
- Third-Quarter Global Net Revenues from the Hematologic Oncology Portfolio Were $1.722 Billion, an Increase of 16.5 Percent on a Reported Basis, or 16.4 Percent on an Operational Basis; Global Imbruvica Net Revenues Were $1.370 Billion, an Increase of 9.0 Percent, with U.S. Net Revenues of $1.119 Billion and International Profit Sharing of $251 Million; Global Venclexta Net Revenues Were $352 Million
- Third-Quarter Global Net Revenues from the Aesthetics Portfolio Were $967 Million; Global Botox Cosmetic Net Revenues Were $393 Million
- Third-Quarter Global Net Revenues from the Neuroscience Portfolio Were $1.249 Billion; Global Botox Therapeutic Net Revenues Were $523 Million; Global Vraylar Net Revenues Were $358 Million
- Updates 2020 GAAP Diluted EPS Guidance Range from $4.12 to $4.22 to $3.89 to $3.91; Updates 2020 Adjusted Diluted EPS Guidance Range from $10.35 to $10.45 to $10.47 to $10.49, Representing Annualized Net Accretion from the Allergan Transaction of 12 Percent; Guidance Includes the Results of Allergan from May 8, 2020 to December 31, 2020
- Announces 2021 Dividend Increase of 10.2 Percent, Beginning with Dividend Payable in February 2021
AbbVie's management commentary on their 3rd quarter 2020 earnings report
NORTH CHICAGO, Ill., October 30, 2020 – AbbVie (NYSE:ABBV) announced financial results for the third quarter ended September 30, 2020. "We continue to be very well positioned for the long-term. Results from key growth products – including Skyrizi, Rinvoq and Ubrelvy – continue to track ahead of our expectations, our aesthetics portfolio is demonstrating a strong V-shaped recovery, our hematologic-oncology franchise is delivering double-digit growth and we’re advancing numerous attractive late-stage pipeline programs," said Richard A. Gonzalez, chairman and chief executive officer, AbbVie. "We are also executing effectively on Allergan integration initiatives with synergy and accretion targets tracking well."
Full-Year 2020 Outlook
AbbVie is updating its GAAP diluted EPS guidance for the full-year 2020 from $4.12 to $4.22 to $3.89 to $3.91, which includes the results of Allergan from May 8, 2020 through December 31, 2020. AbbVie is updating its adjusted diluted EPS for the full-year 2020 from $10.35 to $10.45 to $10.47 to $10.49, which includes the results of Allergan from May 8, 2020 through December 31, 2020, representing annualized net accretion from the Allergan transaction of 12 percent. The combined company's 2020 adjusted diluted EPS guidance excludes $6.58 per share of intangible asset amortization expense, non-cash charges for contingent consideration adjustments and other specified items.
Company Declares Dividend Increase of 10.2 Percent
AbbVie is announcing today that its board of directors declared an increase in the company’s quarterly cash dividend from $1.18 per share to $1.30 per share beginning with the dividend payable on February 16, 2021 to shareholders of record as of January 15, 2021. This reflects an increase of approximately 10.2 percent, continuing AbbVie’s strong commitment to returning cash to shareholders through a growing dividend. Since the company's inception in 2013, AbbVie has increased its quarterly dividend by 225 percent. AbbVie is a member of the S&P Dividend Aristocrats Index, which tracks companies that have annually increased their dividend for at least 25 consecutive years.
AbbVie is updating its GAAP diluted EPS guidance for the full-year 2020 from $4.12 to $4.22 to $3.89 to $3.91, which includes the results of Allergan from May 8, 2020 through December 31, 2020. AbbVie is updating its adjusted diluted EPS for the full-year 2020 from $10.35 to $10.45 to $10.47 to $10.49, which includes the results of Allergan from May 8, 2020 through December 31, 2020, representing annualized net accretion from the Allergan transaction of 12 percent. The combined company's 2020 adjusted diluted EPS guidance excludes $6.58 per share of intangible asset amortization expense, non-cash charges for contingent consideration adjustments and other specified items.
Company Declares Dividend Increase of 10.2 Percent
AbbVie is announcing today that its board of directors declared an increase in the company’s quarterly cash dividend from $1.18 per share to $1.30 per share beginning with the dividend payable on February 16, 2021 to shareholders of record as of January 15, 2021. This reflects an increase of approximately 10.2 percent, continuing AbbVie’s strong commitment to returning cash to shareholders through a growing dividend. Since the company's inception in 2013, AbbVie has increased its quarterly dividend by 225 percent. AbbVie is a member of the S&P Dividend Aristocrats Index, which tracks companies that have annually increased their dividend for at least 25 consecutive years.
Abbvie (ABBV) stock price history over the last 5 years
The image below, obtained from Google, shows the stock price history of AbbVie (ABBV) over the last 5 years. And its been a pretty good time for AbbVie (ABBV) stockholders over the last 5 years. 5 years ago the stock was trading at around $60 a stock and its currently trading at $88.25 a stock. That's a decent 51.7% return provided to AbbVie stockholders over the last 5 years
The stock of AbbVie is trading at closer to its 52 week high than it is to its 52 week low which is a clear indication that the short term sentiment and momentum of AbbVie stock is positive at this point in time.
The stock of AbbVie is trading at closer to its 52 week high than it is to its 52 week low which is a clear indication that the short term sentiment and momentum of AbbVie stock is positive at this point in time.
Abbvie (ABBV) vs Johnson & Johnson (JNJ) vs Amgen (AMGN) stock over the last 5 years
The image below shows the stock price performance of Abbvie (ABBV) vs Johnson & Johnson (JNJ) vs Amgen (AMGN) stock over the last 5 years. All three firms are active in the pharmaceutical space. The summary below shows the stock price performance of the three firms over the last 5 years.
AbbVie has been the best performer over the last 5 years, while Amgen the worst (just being outperformed by Johnson & Johnson)
- AbbVie (ABBV): 51.76%
- Johnson & Johnson (JNJ): 36.99%
- Amgen (AMGN): 36.69%
AbbVie has been the best performer over the last 5 years, while Amgen the worst (just being outperformed by Johnson & Johnson)
Recent coverage of Abbvie
Below a short extract regarding Abbvie as obtained from MarketWatch.com
Shares of AbbVie Inc. ABBV, +3.70% gained 0.2% in premarket trading Friday, after the biopharmaceutical and health care company reported third-quarter earnings that beat expectations, raised its full-year outlook and boosted its dividend by 10%. Net income rose to $2.31 billion, or $1.29 a share, from $1.88 billion, or $1.26 a share, in the year-ago period. Excluding non-recurring items, adjusted earnings per share grew to $2.83 from $2.33, beating the FactSet consensus of $2.76. Revenue grew 52.2% to $12.90 billion, above the FactSet consensus of $12.72 billion. "Results from key growth products -- including Skyrizi, Rinvoq and Ubrelvy -- continue to track ahead of our expectations, our aesthetics portfolio is demonstrating a strong V-shaped recovery, our hematologic-oncology franchise is delivering double-digit growth and we're advancing numerous attractive late-stage pipeline programs," said Chief Executive Richard Gonzalez. The company cautioned that the impacts of the COVID-19 pandemic remain uncertain, but it raised its full-year adjusted EPS outlook to $10.47 to $10.49 from $10.35 to $10.45. AbbVie also raised its quarterly dividend to $1.30 a share from $1.18, with the new dividend payable Feb. 16 to shareholders of record on Jan. 15. The stock has lost 8.9% year to date through Thursday, while the SPDR Health Care Select Sector ETF XLV, +1.80% has slipped 0.2% and the S&P 500 SPX, +1.23% has gained 2.5%.
Read the full article here
Shares of AbbVie Inc. ABBV, +3.70% gained 0.2% in premarket trading Friday, after the biopharmaceutical and health care company reported third-quarter earnings that beat expectations, raised its full-year outlook and boosted its dividend by 10%. Net income rose to $2.31 billion, or $1.29 a share, from $1.88 billion, or $1.26 a share, in the year-ago period. Excluding non-recurring items, adjusted earnings per share grew to $2.83 from $2.33, beating the FactSet consensus of $2.76. Revenue grew 52.2% to $12.90 billion, above the FactSet consensus of $12.72 billion. "Results from key growth products -- including Skyrizi, Rinvoq and Ubrelvy -- continue to track ahead of our expectations, our aesthetics portfolio is demonstrating a strong V-shaped recovery, our hematologic-oncology franchise is delivering double-digit growth and we're advancing numerous attractive late-stage pipeline programs," said Chief Executive Richard Gonzalez. The company cautioned that the impacts of the COVID-19 pandemic remain uncertain, but it raised its full-year adjusted EPS outlook to $10.47 to $10.49 from $10.35 to $10.45. AbbVie also raised its quarterly dividend to $1.30 a share from $1.18, with the new dividend payable Feb. 16 to shareholders of record on Jan. 15. The stock has lost 8.9% year to date through Thursday, while the SPDR Health Care Select Sector ETF XLV, +1.80% has slipped 0.2% and the S&P 500 SPX, +1.23% has gained 2.5%.
Read the full article here
Next earnings release of AbbVie (ABBV)
It is expected that AbbVie (ABBV) will release their 4th quarter 2020 earnings report in late January 2021
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