ABT / Q3 2026

Abbott Laboratories

Reported: October 21, 2026

Published forecast

2026-10-19T20:47:57.977798+00:00

Opus 5.5 High in Shortcut

Shortcut

1.42

Shortcut normalized EPS

+0.7% vs Street

Off by $0.00 per share

Street

1.41

Street normalized EPS

Frozen October 18 snapshot

Off by $0.01 per share

Real

1.42

Issuer adjusted diluted EPS

Shortcut win

Reported result · October 21 ↗ · Issuer adjusted diluted EPS excludes specified items. The published forecast is $1.42 at issuer two-decimal precision and exactly matches the reported adjusted EPS.

USD per diluted Abbott common share. Percentages use unrounded forecasts.

Model download

Explore the assumptions and calculations behind the forecast.

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Shortcut’s reasoning.

The product and geography build estimates revenue of $12,921.35m: Nutrition $2,202.25m, Diagnostics $3,249.18m, Established Pharma $1,610.44m, Medical Devices $5,854.49m and $5m of other revenue. Growth assumptions and estimated comparable bases remain analyst judgments.

The governing consolidated build applies adjusted gross margin of 58.2%, R&D of 6.9% of revenue and SG&A of 27.7%, producing $3,049.44m of adjusted operating earnings. Interest and other items give $2,919.44m of adjusted pre-tax income; a 15.2% tax rate gives $2,475.68m of adjusted net income.

After a 0.4% two-class allocation and 1,734.64m diluted shares, underlying adjusted EPS is 1.4214952238814957. The issuer-style two-decimal forecast is $1.42 versus frozen normalized Street EPS of $1.41. Beat probability is separate and does not multiply EPS.

HIGH unresolved limitation: the consolidated margin build and the segment cost extrapolations remain unreconciled. Alternative cost and margin assumptions give roughly $1.33–$1.41 EPS. These are sensitivities, not corrections or verified issuer guidance; the forecast retains its original assumptions.

On the record.

Reporting basis: Issuer adjusted diluted EPS, two-decimal reported precision / CapIQ normalized EPS
Forecast completed: 2026-10-19T20:03:57.421663+00:00
Published: 2026-10-19T20:47:57.977798+00:00

Model assumptions and review notes

HIGH unresolved cost-build risk: adjusted consolidated COGS of $5,401.13m are $151.11m below the segment sum of $5,552.23m, versus historical differences of approximately negative $20m to positive $91m. Total segment-to-consolidated cost residual is $226.43m versus $266m–$630m historically; subtracting the model's $160m SBC assumption leaves $66.43m of other residual costs. Segment internal-performance and consolidated adjusted bases differ, so this is a diagnostic between bases rather than a reported unallocated COGS figure or a rule requiring a positive gap. The basis distinction does not resolve the forecast tension.
Adjusted gross margin rises about 18bp from Q2 while the model applies a seasonal SG&A decline. Q2 already included a full Exact Sciences quarter, so there is no incremental full-quarter Q3 acquisition benefit. Holding Q2 gross margin gives about $1.410 underlying EPS; seasonal or segment-cost alternatives give about $1.33–$1.40. No assumption was retuned toward consensus or historical ranges.
Several growth inflections, including Pediatric U.S., electrophysiology and Cancer Diagnostics, are unquantified analyst judgments. Holding selected lines at Q2 growth rates would reduce revenue by roughly $202m and EPS by about $0.023; that comparison is illustrative rather than a compelled correction.
Estimated prior-year Amulet reclassifications, competitor payments and the Exact U.S./international split enter forecast revenue and EPS. The 825/26 Exact split is an approximation of the $851m total, not exact FY-mix arithmetic. These estimates were retained with their original precision.
The GAAP-only NEC settlement charge and tax treatment are uncertain. A $670m aggregate settlement versus a $385m prior reserve does not establish a $285m Q3 incremental charge or its timing. GAAP EPS is tracked separately and is not the scored normalized EPS.
The confirmed historical dividends-declared source error was corrected: FY2025 is $4,189m and derived Q4 is $1,098m, rather than $4,158m and $1,067m. The $1,097m year-end dividends-payable figure is a balance. The correction is outside all 271 scored EPS dependency cells; both underlying and rounded forecast EPS are unchanged.
Annual comparable revenue includes a $13m ZonePerfect scope adjustment that is not allocated to quarters. Weighted annual shares and aggregate ratios retain their reported bases. Structural PASS checks include identities and do not independently validate forecast assumptions.
Sources were retrieved after the cutoff without immutable snapshots. Publication dates do not prove that retrieved content was unchanged at the cutoff. Index membership is inferred, although the large-cap bucket alone qualifies for the same calibration prior. Other-source consensus memos are separate from frozen scoring consensus.
Some source/date text and consensus-memo column labels retain presentation limitations. Complete cell text, formulas, caches and the high cost-build warning remain available in the exact reviewed workbook. Independent review is complete; the financial judgment risk remains unresolved.

Research sources