Abbott Trims 2026 Profit Forecast Following Exact Sciences Acquisition Abbott Laboratories has revised its full-year 2026 profit outlook downward due to the financial impact of its recent acquisition of cancer diagnostics company Exact Sciences. The medical device and nutrition company now expects adjusted earnings per share to range between US$5.38 and US$5.58 for 2026, down from its previous forecast of US$5.55 to US$5.80 per share. The adjustment reflects a 20 U.S. Cent-per-share hit tied to the US$23 billion deal for Exact Sciences, which Abbott announced in November 2025. Despite the near-term earnings pressure, Abbott leadership emphasized the strategic value of the acquisition. CEO Robert Ford stated that adding Exact Sciences’ portfolio strengthens the company’s position in the fast-growing cancer diagnostics market and complements its existing medical device business. The acquisition gives Abbott access to Exact Sciences’ flagship products, including Cologuard, a non-invasive colorectal cancer screening test, and Oncotype DX, a test used to guide treatment decisions for certain breast cancer patients. These assets are expected to help offset declining demand for Abbott’s COVID-19 testing kits, which had previously boosted diagnostics revenue during the pandemic. In the first quarter of 2026, Abbott reported adjusted earnings of US$1.15 per share, matching analyst expectations, and total revenue of US$11.16 billion, surpassing the US$11 billion forecast. Growth was driven by strong performance in its medical devices segment, particularly continuous glucose monitors, which saw sales increase 14.2 percent year-over-year. Diagnostics segment sales rose 6.1 percent to US$2.18 billion, exceeding estimates of US$2.11 billion. Although profitability is pressured in the short term, Abbott maintains its outlook for full-year 2026 comparable sales growth of 6.5 to 7.5 percent. The company noted that first-quarter results aligned with internal expectations and highlighted continued strength in diabetes care technology demand, supported by expanding insurance coverage and patient adoption of finger-prick-free glucose monitoring systems. Abbott’s shares declined more than 4 percent in premarket trading following the announcement, reflecting investor reaction to the revised profit guidance. The stock has fallen approximately 19 percent over the past year.
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