Income Statement
Quarterly Data
The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.
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Abbott Laboratories pages available for free this week:
- Balance Sheet: Assets
- Common-Size Income Statement
- Common-Size Balance Sheet: Assets
- Analysis of Liquidity Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Enterprise Value (EV)
- Enterprise Value to EBITDA (EV/EBITDA)
- Capital Asset Pricing Model (CAPM)
- Dividend Discount Model (DDM)
- Price to Sales (P/S) since 2005
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Abbott Laboratories, consolidated income statement (quarterly data)
US$ in millions
Based on: 10-Q (reporting date: 2025-06-30), 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31).
- Net Sales
- Net sales demonstrate an overall upward trend from March 2020 to June 2025, with fluctuations observed within quarters. Starting at 7,726 million USD in March 2020, sales peak periodically, reaching highs above 11,000 million USD in several quarters such as December 2021 and December 2024. The data indicates some volatility, but the longer-term progression suggests moderate growth.
- Cost of Products Sold (excluding amortization)
- Costs closely follow the sales pattern but remain consistently high. The costs start at approximately 3,281 million USD (March 2020) and generally increase, peaking near 4,942 million in December 2024, reflecting inflationary and volume influences. The costs as a proportion of sales appear relatively stable, indicating controlled cost management relative to sales increases.
- Amortization of Intangible Assets
- This expense remains relatively stable across all periods, fluctuating narrowly around 500 million USD per quarter with a modest decline towards 420 million by mid-2025, which may indicate amortization schedules reaching completion or reduced intangible asset base.
- Gross Profit
- Gross profit shows variability aligned with sales fluctuations but retains an overall increase trend from 3,884 million USD (March 2020) to a high above 5,800 million USD (December 2025). Notable peaks occur in quarters with high sales. Margins appear somewhat pressured in some later quarters with sales rising but gross profits showing more volatility.
- Research and Development
- R&D expenses fluctuate between approximately 564 million and 782 million USD quarterly. There is no clear directional trend, but occasional increases suggest ongoing investments in innovation. The expense generally remains a consistent component of operating costs throughout the periods.
- Selling, General and Administrative Expenses
- SG&A costs vary between 2,200 million and 3,100 million USD, showing some upward trend consistent with expansion and inflationary pressures. Peaks often align with periods of increased sales activity, suggesting scaling of administrative resources proportional to business volume.
- Operating Earnings
- Operating earnings demonstrate significant volatility, ranging from lows around 672 million USD (June 2020) to highs exceeding 2,900 million USD (March 2022). The pattern suggests sensitivity to sales and cost fluctuations, with a generally positive trend in earnings indicative of improving operational efficiency but with some periods of margin compression.
- Interest Expense and Income
- Interest expense remains relatively stable, slightly decreasing from around 139 million USD in early 2020 to 121 million USD by mid-2025. Interest income shows a marked increase, rising significantly from single-digit millions to over 100 million USD in late 2022 before stabilizing at lower levels, potentially reflecting fluctuations in cash reserves or interest rates.
- Net Foreign Exchange Gain (Loss)
- Foreign exchange results exhibit volatility with sporadic gains and losses, ranging between -24 million and 11 million USD. This variability suggests exposure to currency fluctuations impacting earnings unpredictably but without a clear directional trend.
- Other Income (Expense), Net
- This category displays an increasing trend, starting near zero and reaching over 150 million USD in later quarters. The increase in other income supports profitability and may include gains from non-core operations or investments.
- Earnings Before Taxes
- Pre-tax earnings mirror operating earnings’ pattern, fluctuating significantly but with an upward trajectory from 633 million USD to over 2,100 million USD. The volatility corresponds with changes in operating earnings and other income components.
- Taxes on Earnings
- Tax expenses vary markedly, ranging from negative figures to extremely high values such as the spike at 7,199 million USD in March 2025. The volatility suggests potential discrete tax events, adjustments, or timing differences significantly impacting net earnings.
- Earnings from Continuing Operations
- Net earnings from continuing operations follow an increasing trend with some volatility, moving from 544 million USD (March 2020) to highs above 9,000 million USD in March 2025, then normalizing back to a range around 1,300-1,700 million USD. The March 2025 figure likely reflects an extraordinary item impacting net results.
- Net Earnings
- Overall net earnings align closely with continuing operations and show a similar trend with a pronounced spike in March 2025. The presence of occasional earnings from discontinued operations is minimal and not a significant driver of net results.