AbbVie Expects Annual Earnings In Line With View

(RTTNews) - AbbVie Inc. (ABBV), a pharmaceutical major, on Friday announced in its fourth-quarter earnings report that it has initiated its annual earnings outlook.

Excluding items, for the full year, the drug maker expects earnings per share of $11.05 to $11.25.

This guidance includes a $0.32 per share impact related to the proposed ImmunoGen and Cerevel Therapeutics acquisitions, which are anticipated to close in the middle of 2024.

On average, 27 analysts polled by Thomson Reuters forecast the firm to earn $11.24 per share, for the year. Analysts' estimates typically exclude special items.

For the full-year 2023, the company recorded adjusted income per share of $11.11.

In addition, AbbVie has reaffirmed its expectations for a high single-digit compound annual revenue growth rate through 2029.