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AbbVie | 8-K: AbbVie Inc. Guidance Including the Impact of Acquired IPR&D and Milestones Expense (Unaudited)

SEC ·  Jan 5 00:00

Summary by Moomoo AI

AbbVie Inc. has reported preliminary financial results for the fourth quarter of 2023, including an acquired IPR&D and milestones expense of $282 million on a pre-tax basis. This expense is expected to unfavorably impact both GAAP and adjusted non-GAAP diluted earnings per share by $0.15. The results for the quarter ending December 31, 2023, are not yet finalized and are subject to financial statement closing procedures. AbbVie has stated that there is no assurance that the final results will not differ from these preliminary estimates. The company does not forecast acquired IPR&D and milestones expense due to the uncertainty of future transactions. AbbVie's full-year 2023 adjusted diluted earnings per share guidance, including the impact of the fourth quarter expense, is...Show More
AbbVie Inc. has reported preliminary financial results for the fourth quarter of 2023, including an acquired IPR&D and milestones expense of $282 million on a pre-tax basis. This expense is expected to unfavorably impact both GAAP and adjusted non-GAAP diluted earnings per share by $0.15. The results for the quarter ending December 31, 2023, are not yet finalized and are subject to financial statement closing procedures. AbbVie has stated that there is no assurance that the final results will not differ from these preliminary estimates. The company does not forecast acquired IPR&D and milestones expense due to the uncertainty of future transactions. AbbVie's full-year 2023 adjusted diluted earnings per share guidance, including the impact of the fourth quarter expense, is projected to be between $11.04 and $11.08. The guidance for the fourth quarter adjusted diluted earnings per share, also including this expense, is estimated to be between $2.72 and $2.76. The company has furnished this information as Exhibit 99.1 to the Current Report on Form 8-K. AbbVie has also cautioned that forward-looking statements in the report are subject to risks and uncertainties that may cause actual results to differ materially from those expressed or implied.

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