Abbott Laboratories (NYSE:ABT) on Wednesday reported first-quarter sales of $10.36 billion, up 7.2% year over year, almost in line with the consensus of $10.40 billion.

First-quarter sales increased 4% on a reported basis, 6.9% on an organic basis, or 8.3% when excluding COVID-19 testing-related sales.

The U.S. MedTech giant reported adjusted EPS of $1.09, beating the consensus of $1.07 and the management guidance of $1.05-$1.09.

“Once again, Abbott’s diversified business model delivered top-tier sales and EPS growth,” said Robert Ford, chairman and CEO of Abbott. “It is this diversification and execution that allows Abbott to navigate through periods of uncertainty and continually deliver sustainable growth.”

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Medical Device sales increased 9.9% to $4.89 billion with organic growth of 12.6%, led by Diabetes Care, Structural Heart, Heart Failure and Electrophysiology.

Several products, including FreeStyle Libre, Navitor, TriClip, Amplatzer Amulet, and AVEIR, contributed to the strong performance.

In Diabetes Care, sales of continuous glucose monitors were $1.7 billion and grew 18.3% on a reported basis and 21.6% on an organic basis.

Nutrition sales of $2.15 billion increased 3.8% on a reported basis and 6.8% on an organic basis in the first quarter.

In Pediatric Nutrition, global sales increased 3.2% on a reported basis and 4.9% on an organic basis.

In Adult Nutrition, global sales of $1.11 billion increased 4.4% on a reported basis and 8.7% on an organic basis, which was led by strong growth of Ensure and Glucerna.

Global Diagnostics sales of $2.05 billion decreased 7.2% on a reported basis, down 4.9% on an organic basis, or increased 0.5% when excluding COVID-19 testing-related sales.

The year-over-year decline in COVID-19 testing-related sales and volume-based procurement programs in China impacted diagnostics sales growth.

COVID-19 testing-related sales were $84 million in the quarter, compared to $204 million a year ago.

Global Core Laboratory Diagnostics sales decreased 2.3% on a reported basis and increased 0.9% on an organic basis.

Abbott’s reported operating margin was 16.3% of sales, and adjusted operating margin of 21%, which reflects a 130 basis point increase year-over-year.

Guidance: Abbott reaffirms full-year 2025 adjusted EPS of $5.05-$5.25 versus a consensus of $5.15, with organic sales growth of 7.5%- 8.5% and an adjusted operating margin of 23.5%- 24.0%.

Abbott Laboratories expects second quarter 2025 adjusted EPS of $1.23-$1.27 versus consensus of $1.25.

In March, Abbott received European approval for the Volt PFA System for atrial fibrillation (AFib). The company will further expand its use in EU markets throughout the second half of the year.

Price Action: ABT stock is up 5.02% at $132.55 at the last check on Wednesday.

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