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Abbott Hoists Forecast Sails Higher Despite Infant Formula, Inflation, Exchange Headwinds

 
• By Malcolm Spicer

Although sales of infant formula and other pediatric nutritionals were down more than 20% in US and more than 13% worldwide during Q2 on an organic measure – excluding a currency exchange impact – Abbott reports 14.3% overall sales growth to $11.3bn.

• Source: Shutterstock

Abbott ’s earnings headwinds from inflation and foreign exchange on top of its infant formula market losses don’t add up to diminishing the firm’s outlook for the year.

Although sales of its Similac and other infant formula and other pediatric nutrition brands were down more than 20% in the US and more than 13% worldwide during the second quarter on an organic measure –excluding a currency exchange impact – Abbott on 20 July reported 14

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