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0000001800FALSENew York Stock ExchangeCHX00000018002026-01-222026-01-220000001800exch:XCHI2026-01-222026-01-220000001800exch:XNYS2026-01-222026-01-22

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549
_______________________________________________________
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
January 22, 2026
Date of Report (Date of earliest event reported)
ABBOTT LABORATORIES
(Exact name of registrant as specified in charter)
_______________________________________________________

Illinois 1-2189 36-0698440
(State or other Jurisdiction
of Incorporation)		 (Commission File Number) (IRS Employer
Identification  No.)
_______________________________________________________
100 Abbott Park Road
Abbott Park, Illinois 60064-6400
(Address of principal executive offices)(Zip Code)
Registrant’s telephone number, including area code: (224) 667-6100
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities Registered Pursuant to Section 12(b) of the Act:
Title of Each Class
Trading
Symbol(s)
Name of Each Exchange
on Which Registered
Common Shares, Without Par Value ABT
New York Stock Exchange
NYSE Texas
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company o
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o On January 22, 2026, Abbott Laboratories announced its results of operations for the fourth quarter and full year 2025.


Item 2.02    Results of Operations and Financial Condition
Furnished as Exhibit 99.1, and incorporated herein by reference, is the news release issued by Abbott announcing those results. In that news release, Abbott uses various non-GAAP financial measures including, among others, net earnings excluding specified items. These non-GAAP financial measures adjust for factors that are unusual or unpredictable, such as expenses primarily associated with acquisitions, restructuring actions, legal reserves, fair value adjustments to the contingent consideration related to business acquisitions, certain regulatory costs, adjustments related to prior recognition of a significant non-cash deferred tax benefit, tax benefits associated with specified items, net tax benefit as a result of the resolution of various tax positions related to prior years, and excess tax benefits associated with share-based compensation. These non-GAAP financial measures also exclude intangible amortization expense to provide greater visibility on the results of operations excluding these costs, similar to how Abbott’s management internally assesses performance. Abbott’s management believes the presentation of these non-GAAP financial measures provides useful information to investors regarding Abbott’s results of operations as these non-GAAP financial measures allow investors to better evaluate ongoing business performance. Abbott’s management also uses these non-GAAP financial measures internally to monitor performance of the businesses. Abbott, however, cautions investors to consider these non-GAAP financial measures in addition to, and not as a substitute for, financial measures prepared in accordance with GAAP.
Item 9.01    Financial Statements and Exhibits
Exhibit No. Exhibit
104 Cover Page Interactive Data File (the cover page XBRL tags are embedded in the Inline XBRL document).


SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
ABBOTT LABORATORIES
Date: January 22, 2026 By: /s/ Philip P. Boudreau
Philip P. Boudreau
Executive Vice President, Finance and Chief Financial Officer

EX-99.1 2 abt-2025q4xexhibitx991.htm EX-99.1 Document

Exhibit 99.1
image.jpg
  News Release

Abbott Reports Fourth-Quarter and Full-Year 2025 Results; Issues 2026 Financial Outlook

–Fourth-quarter GAAP diluted EPS of $1.01; adjusted diluted EPS of $1.50 reflects growth of 12 percent
–Full-year 2025 GAAP diluted EPS of $3.72; adjusted diluted EPS of $5.15 reflects growth of 10 percent
–Abbott projects full-year 2026 organic sales growth to be in the range of 6.5% to 7.5%
–Abbott projects full-year 2026 adjusted diluted EPS of $5.55 to $5.80, which reflects 10 percent growth at the midpoint

ABBOTT PARK, Ill., Jan. 22, 2026 — Abbott today announced financial results for the fourth quarter ended Dec. 31, 2025.

•Fourth-quarter sales increased 4.4 percent on a reported basis, 3.0 percent on an organic basis, or 3.8 percent when excluding COVID-19 testing-related sales1.
•Fourth-quarter GAAP diluted EPS of $1.01 and adjusted diluted EPS of $1.50, which excludes specified items and reflects growth of 12 percent.
•Full-year 2025 sales of $44.3 billion increased 5.7 percent on a reported basis, 5.5 percent on an organic basis, or 6.7 percent when excluding COVID-19 testing-related sales2.
•Full-year 2025 GAAP diluted EPS of $3.72 and adjusted diluted EPS of $5.15, which excludes specified items and reflects growth of 10 percent.
•Abbott projects full-year 2026 organic sales growth to be in the range of 6.5% to 7.5%.
•Abbott projects full-year 2026 adjusted diluted EPS of $5.55 to $5.80, which reflects growth of 10 percent at the midpoint.
•In November, Abbott announced an agreement to acquire Exact Sciences, a move that will position the company to enter and lead in the fast-growing cancer diagnostics market. Abbott continues to expect the transaction to close in the second quarter of 2026.
•Abbott expanded its leadership in Electrophysiology with two significant regulatory approvals:
•In December, Abbott announced U.S. Food and Drug Administration (FDA) approval for its Volt™ PFA System, bringing Abbott's first pulsed field ablation (PFA) offering to patients in the United States.
•In January, Abbott announced the company obtained CE Mark for its TactiFlex™ Duo Ablation Catheter, Sensor Enabled™, designed to deliver radiofrequency (RF) and PFA energy to treat patients battling atrial fibrillation.

"In 2025, we expanded margins and achieved double-digit earnings per share growth, our new product pipeline was highly productive, and we took important strategic steps to shape the company for the future," said Robert B. Ford, chairman and chief executive officer, Abbott.
 
Page 1 of 20

FOURTH-QUARTER BUSINESS OVERVIEW
"We're well positioned for accelerating growth in 2026." Management believes that measuring sales growth rates on an organic basis, which excludes the impact of foreign exchange and the impact of discontinuing the ZonePerfect® product line in the Nutrition business, is an appropriate way for investors to best understand the core underlying performance of the business. Management further believes that measuring sales growth rates on an organic basis excluding COVID-19 tests is an appropriate way for investors to best understand the underlying performance of the company as the demand for COVID-19 tests has significantly declined following the transition from a pandemic to endemic phase.

Note: In order to compute results excluding the impact of exchange rates, current year U.S. dollar sales are multiplied or divided, as appropriate, by the current year average foreign exchange rates and then those amounts are multiplied or divided, as appropriate, by the prior year average foreign exchange rates.

Fourth Quarter 2025 Results (4Q25)
Sales 4Q25 ($ in millions)
 Total Company Nutrition Diagnostics Established Pharmaceuticals Medical Devices
U.S. 4,383  806  967  —  2,605 
International 7,076  1,134  1,490  1,382  3,070 
Total reported 11,459  1,940  2,457  1,382  5,675 
% Change vs. 4Q24
U.S. 0.9  (13.2) (8.4) n/a 10.7 
International 6.7  (5.6) 1.8  9.0  13.7 
Total reported 4.4  (8.9) (2.5) 9.0  12.3 
Impact of foreign exchange 1.4  0.2  1.1  2.0  1.9 
Organic 3.0  (9.1) (3.6) 7.0  10.4 
Impact of COVID-19 testing sales 1
 (0.8) —  (3.4) —  — 
Organic (excluding COVID-19 tests) 3.8  (9.1) (0.2) 7.0  10.4 
Organic
    U.S. 0.9  (13.2) (8.4) n/a 10.7 
    International 4.3  (5.9) (0.2) 7.0  10.1 
Full-Year 2025 Results (12M25)
Sales 12M25 ($ in millions)
 Total Company Nutrition Diagnostics Established Pharmaceuticals Medical Devices
U.S. 17,126  3,606  3,535  —  9,968 
International 27,202  4,845  5,402  5,536  11,419 
Total reported 44,328  8,451  8,937  5,536  21,387 
% Change vs. 12M24
U.S. 4.9  (2.3) (7.7) n/a 13.4 
International 6.1  2.6  (2.0) 6.6  12.0 
Total reported 5.7  0.4  (4.3) 6.6  12.6 
Impact of foreign exchange 0.2  (0.7) 0.2  (0.8) 0.7 
Impact of business exit* —  (0.1) —  —  — 
Organic 5.5  1.2  (4.5) 7.4  11.9 
Impact of COVID-19 testing sales 2
 (1.2) —  (4.9) —  — 
Organic (excluding COVID-19 tests) 6.7  1.2  0.4  7.4  11.9 
Organic
    U.S. 5.0  (1.9) (7.7) n/a 13.4 
    International 5.9  3.7  (2.3) 7.4  10.5 
Refer to page 16 for a reconciliation of adjusted historical revenue to reported revenue.

*Reflects the impact of discontinuing the ZonePerfect® product line in the Nutrition business in March 2024.

Page 2 of 20


Nutrition

Fourth Quarter 2025 Results (4Q25)

Sales 4Q25 ($ in millions)
 Total Pediatric Adult
U.S. 806  463  343 
International 1,134  439  695 
Total reported 1,940  902  1,038 
% Change vs. 4Q24
U.S. (13.2) (17.7) (6.3)
International (5.6) 0.3  (8.9)
Total reported (8.9) (9.8) (8.1)
Impact of foreign exchange 0.2  0.3  0.1 
Organic (9.1) (10.1) (8.2)
    U.S. (13.2) (17.7) (6.3)
    International (5.9) (0.3) (9.1)
Worldwide Nutrition sales decreased 8.9 percent on a reported basis and 9.1 percent on an organic basis in the fourth quarter.
Results in the quarter reflect the impact of lower sales volumes compared to the prior year and new strategic price actions targeted to increase volume growth in the future. In addition to these strategic price actions, Abbott expects to increase volume growth with the launch of several new products in 2026.

Full-Year 2025 Results (12M25)

Sales 12M25 ($ in millions)
 Total Pediatric Adult
U.S. 3,606  2,158  1,448 
International 4,845  1,816  3,029 
Total reported 8,451  3,974  4,477 
% Change vs. 12M24
U.S. (2.3) (2.3) (2.2)
International 2.6  0.1  4.1 
Total reported 0.4  (1.2) 2.0 
Impact of foreign exchange (0.7) (0.5) (0.7)
Impact of business exit* (0.1) —  (0.3)
Organic 1.2  (0.7) 3.0 
    U.S. (1.9) (2.3) (1.4)
    International 3.7  1.3  5.1 
*Reflects the impact of discontinuing the ZonePerfect® product line in the Nutrition business in March 2024.

Page 3 of 20


Diagnostics

Fourth Quarter 2025 Results (4Q25)
Sales 4Q25 ($ in millions)
 Total Core Laboratory Molecular Point of Care Rapid Diagnostics
U.S. 967  376  39  107  445 
International 1,490  1,085  102  51  252 
Total reported 2,457  1,461  141  158  697 
% Change vs. 4Q24
U.S. (8.4) 3.6  2.9  6.5  (19.7)
International 1.8  5.9  3.3  9.8  (14.1)
Total reported (2.5) 5.3  3.2  7.5  (17.8)
Impact of foreign exchange 1.1  1.7  2.1  0.4  0.3 
Organic (3.6) 3.6  1.1  7.1  (18.1)
    U.S. (8.4) 3.6  2.9  6.5  (19.7)
    International (0.2) 3.6  0.4  8.3  (14.9)

Global Diagnostics sales decreased 2.5 percent on a reported basis, decreased 3.6 percent on an organic basis, and decreased 0.2 percent when excluding COVID-19 testing-related sales1.

COVID-19 testing-related sales were $89 million in the quarter, compared to $176 million in the fourth quarter of the prior year.

Global Core Laboratory Diagnostics sales increased 5.3 percent on a reported basis and increased 3.6 percent on an organic basis. Growth in other geographies was partially offset by challenging market conditions in China, including the impact of volume-based procurement programs.
Full-Year 2025 Results (12M25)
Sales 12M25 ($ in millions)
 Total Core Laboratory Molecular Point of Care Rapid Diagnostics
U.S. 3,535  1,425  150  422  1,538 
International 5,402  3,935  367  184  916 
Total reported 8,937  5,360  517  606  2,454 
% Change vs. 12M24
U.S. (7.7) 7.0  0.4  3.4  (20.8)
International (2.0) 0.8  (1.1) 2.5  (13.3)
Total reported (4.3) 2.4  (0.7) 3.1  (18.1)
Impact of foreign exchange 0.2  0.3  0.5  —  (0.1)
Organic (4.5) 2.1  (1.2) 3.1  (18.0)
    U.S. (7.7) 7.0  0.4  3.4  (20.8)
    International (2.3) 0.4  (1.8) 2.4  (13.1)

Page 4 of 20


Established Pharmaceuticals

Fourth Quarter 2025 Results (4Q25)
Sales 4Q25 ($ in millions)
 Total Key Emerging Markets Other
U.S. —  —  — 
International 1,382  1,046  336 
Total reported 1,382  1,046  336 
% Change vs. 4Q24
U.S. n/a n/a n/a
International 9.0  10.3  5.0 
Total reported 9.0  10.3  5.0 
Impact of foreign exchange 2.0  1.6  3.1 
Organic 7.0  8.7  1.9 
    U.S. n/a n/a n/a
    International 7.0  8.7  1.9 

Established Pharmaceuticals sales increased 9.0 percent on a reported basis and 7.0 percent on an organic basis in the fourth quarter.

Key Emerging Markets include several emerging countries that represent the most attractive long-term growth opportunities for Abbott's branded generics product portfolio. Sales in these geographies increased 10.3 percent on a reported basis and 8.7 percent on an organic basis, led by double-digit growth in India and several countries across Latin America and the Middle East.

Full-Year 2025 Results (12M25)
Sales 12M25 ($ in millions)
 Total Key Emerging Markets Other
U.S. —  —  — 
International 5,536  4,167  1,369 
Total reported 5,536  4,167  1,369 
% Change vs. 12M24
U.S. n/a n/a n/a
International 6.6  8.0  2.5 
Total reported 6.6  8.0  2.5 
Impact of foreign exchange (0.8) (1.5) 1.1 
Organic 7.4  9.5  1.4 
    U.S. n/a n/a n/a
    International 7.4  9.5  1.4 


Page 5 of 20


Medical Devices

Fourth Quarter 2025 Results (4Q25)
Sales 4Q25 ($ in millions)
 Total Rhythm Management Electro-
physiology		 Heart Failure Vascular Structural Heart Neuro-modulation Diabetes Care
U.S. 2,605  340  340  283  287  304  208  843 
International 3,070  365  390  92  496  371  66  1,290 
Total reported 5,675  705  730  375  783  675  274  2,133 
% Change vs. 4Q24
U.S. 10.7  12.8  13.1  11.7  6.5  4.8  1.9  14.9 
International 13.7  13.4  13.9  17.9  8.9  16.3  23.8  14.2 
Total reported 12.3  13.1  13.5  13.2  8.0  10.8  6.5  14.5 
Impact of foreign exchange 1.9  1.6  1.0  1.1  1.5  2.1  0.9  2.8 
Organic 10.4  11.5  12.5  12.1  6.5  8.7  5.6  11.7 
    U.S. 10.7  12.8  13.1  11.7  6.5  4.8  1.9  14.9 
    International 10.1  10.2  11.9  13.4  6.6  12.3  19.6  9.6 

Worldwide Medical Devices sales increased 12.3 percent on a reported basis and 10.4 percent on an organic basis in the fourth quarter.

Sales growth in the quarter was led by double-digit growth in Electrophysiology, Heart Failure, Diabetes Care, and Rhythm Management.

In Diabetes Care, sales of continuous glucose monitors were $2.0 billion and grew 15.0 percent on a reported basis and 12.2 percent on an organic basis.

Full-Year 2025 Results (12M25)
Sales 12M25 ($ in millions)
 Total Rhythm Management Electro-
physiology		 Heart Failure Vascular Structural Heart Neuro-modulation Diabetes Care
U.S. 9,968  1,334  1,283  1,107  1,118  1,172  773  3,181 
International 11,419  1,315  1,481  341  1,877  1,351  237  4,817 
Total reported 21,387  2,649  2,764  1,448  2,995  2,523  1,010  7,998 
% Change vs. 12M24
U.S. 13.4  15.7  12.4  12.2  5.8  11.5  0.8  20.8 
International 12.0  6.4  11.7  16.4  5.4  13.0  21.5  15.4 
Total reported 12.6  10.9  12.0  13.2  5.6  12.3  5.0  17.5 
Impact of foreign exchange 0.7  0.7  0.4  0.5  0.5  0.8  0.2  1.2 
Organic 11.9  10.2  11.6  12.7  5.1  11.5  4.8  16.3 
    U.S. 13.4  15.7  12.4  12.2  5.8  11.5  0.8  20.8 
    International 10.5  5.0  10.9  14.3  4.7  11.5  20.5  13.5 


Page 6 of 20


ABBOTT'S FINANCIAL GUIDANCE
Abbott projects full-year 2026 organic sales growth to be in the range of 6.5% to 7.5%.

Abbott projects full-year 2026 adjusted diluted earnings per share of $5.55 to $5.80 and first-quarter 2026 adjusted diluted earnings per share of $1.12 to $1.18.

Abbott has not provided the related GAAP financial measures on a forward-looking basis for these forward-looking non-GAAP financial measures because the company is unable to predict with reasonable certainty and without unreasonable effort the timing and impact of certain items such as restructuring and cost reduction initiatives, charges for intangible asset impairments, acquisition-related expenses, and foreign exchange, which could significantly impact Abbott's results in accordance with GAAP.
ABBOTT DECLARES 408th CONSECUTIVE QUARTERLY DIVIDEND
On Dec. 12, 2025, the board of directors of Abbott declared the company's quarterly dividend of $0.63 per share. Abbott's cash dividend is payable Feb. 13, 2026, to shareholders of record at the close of business on Jan. 15, 2026.

Abbott has increased its dividend payout for 54 consecutive years and is a member of the S&P 500 Dividend Aristocrats Index, which tracks companies that have annually increased their dividend for at least 25 consecutive years.


About Abbott:
Abbott is a global healthcare leader that helps people live more fully at all stages of life. Our portfolio of life-changing technologies spans the spectrum of healthcare, with leading businesses and products in diagnostics, medical devices, nutritionals and branded generic medicines. Our 115,000 colleagues serve people in more than 160 countries.

Connect with us at www.abbott.com and on LinkedIn, Facebook, Instagram, X and YouTube.

Abbott will live-webcast its fourth-quarter earnings conference call through its Investor Relations website at www.abbottinvestor.com at 8 a.m. Central time today. An archived edition of the webcast will be available later in the day.

Page 7 of 20


— Private Securities Litigation Reform Act of 1995 —
A Caution Concerning Forward-Looking Statements

Some statements in this news release may be forward-looking statements for purposes of the Private Securities Litigation Reform Act of 1995. Abbott cautions that these forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those indicated in the forward-looking statements. Economic, competitive, governmental, technological and other factors that may affect Abbott's operations are discussed in Item 1A, "Risk Factors" in our Annual Report on Form 10-K for the year ended Dec. 31, 2024, and are incorporated herein by reference. Abbott undertakes no obligation to release publicly any revisions to forward-looking statements as a result of subsequent events or developments, except as required by law.
Abbott Financial:
Michael Comilla, 224-668-1872
Tamika McLoughlin, 224-399-5082
Randy Blakley, 224-668-0036
Abbott Media:
Karen Twigg May, 224-668-2681
Kate Dyer, 224-668-9965

1.In the fourth quarter of 2025, total worldwide sales were $11.459 billion, total Diagnostics sales were $2.457 billion and COVID-19 testing-related sales were $89 million. In the fourth quarter of 2024, total worldwide sales were $10.974 billion, total Diagnostics sales were $2.520 billion and COVID-19 testing-related sales were $176 million.

2.In the full-year 2025, total worldwide sales were $44.328 billion, total Diagnostics sales were $8.937 billion and COVID-19 testing-related sales were $297 million. In the full year 2024, total worldwide sales were $41.950 billion, total Diagnostics sales were $9.341 billion and COVID-19 testing-related sales were $747 million.



Page 8 of 20


Abbott Laboratories and Subsidiaries
Condensed Consolidated Statement of Earnings
Fourth Quarter Ended December 31, 2025 and 2024
(in millions, except per share data)
(unaudited)




4Q25 4Q24 % Change
Net Sales $11,459 $10,974 4.4 
Cost of products sold, excluding amortization expense 4,922  4,942  (0.4)
Amortization of intangible assets 422  465  (9.4)
Research and development 735  749  (1.9)
Selling, general, and administrative 3,129  2,907  7.7 
Total Operating Cost and Expenses 9,208  9,063  1.6 
Operating Earnings 2,251  1,911  17.8 
Interest expense, net 42  45  (8.0)
Net foreign exchange (gain) loss (15) (10) n/m
Other (income) expense, net (134) (154) (13.0)
Earnings before taxes 2,358  2,030  16.1 
Taxes on earnings 582  (7,199) n/m 1)
Net Earnings $1,776 $9,229 n/m
Net Earnings excluding Specified Items, as described below $2,630 $2,349 11.9  2)
Diluted Earnings per Common Share $1.01 $5.27 n/m
Diluted Earnings per Common Share, excluding Specified Items, as described below $1.50 $1.34 11.9  2)
Average Number of Common Shares Outstanding Plus Dilutive Common Stock Options 1,747  1,746 
NOTES:
See tables on page 13 for an explanation of certain non-GAAP financial information.
n/m = Percent change is not meaningful.
See footnotes on the following page.

Page 9 of 20


1)2025 Taxes on Earnings includes the recognition of approximately $20 million of net tax expense as a result of the resolution of various tax positions related to prior years. 2025 Taxes on Earnings also includes approximately $150 million in adjustments related to prior recognition of a significant non-cash deferred tax benefit.

2024 Taxes on Earnings includes $7.497 billion in non-cash valuation allowance adjustments resulting from the restructuring of certain foreign affiliates and the confirmation of certain tax filing positions.

2)2025 Net Earnings and Diluted Earnings per Common Share, excluding Specified Items, excludes net after-tax charges of $854 million, or $0.49 per share, for intangible amortization, charges related to restructuring, legal reserves, acquisitions, and other net expenses.

2024 Net Earnings and Diluted Earnings per Common Share, excluding Specified Items, excludes net after-tax benefits of $6.880 billion, or $3.93 per share, for non-cash valuation allowance adjustments, intangible amortization, charges related to intangible impairments, expenses associated with restructuring actions, acquisitions and other net expenses.

Page 10 of 20


Abbott Laboratories and Subsidiaries
Condensed Consolidated Statement of Earnings
Twelve Months Ended December 31, 2025 and 2024
(in millions, except per share data)
(unaudited)




12M25 12M24 % Change
Net Sales $44,328 $41,950 5.7 
Cost of products sold, excluding amortization expense 19,319  18,706  3.3 
Amortization of intangible assets 1,682  1,878  (10.5)
Research and development 2,942  2,844  3.5 
Selling, general, and administrative 12,332  11,697  5.4 
Total Operating Cost and Expenses 36,275  35,125  3.3 
Operating Earnings 8,053  6,825  18.0 
Interest expense, net 185  215  (13.8)
Net foreign exchange (gain) loss (50) (27) n/m
Other (income) expense, net (548) (376) 45.9 
Earnings before taxes 8,466  7,013  20.7 
Taxes on earnings 1,942  (6,389) n/m 1)
Net Earnings $6,524 $13,402 n/m
Net Earnings excluding Specified Items, as described below $9,040 $8,200 10.2  2)
Diluted Earnings per Common Share $3.72 $7.64 n/m
Diluted Earnings per Common Share, excluding Specified Items, as described below $5.15 $4.67 10.3  2)
Average Number of Common Shares Outstanding Plus Dilutive Common Stock Options 1,749  1,748 


NOTES:
See tables on page 14 for an explanation of certain non-GAAP financial information.
n/m = Percent change is not meaningful.
See footnotes on the following page.

Page 11 of 20


1)2025 Taxes on Earnings includes the recognition of approximately $70 million of net tax benefit as a result of the resolution of various tax positions related to prior years. 2025 Taxes on Earnings also includes approximately $610 million in adjustments related to prior recognition of a significant non-cash deferred tax benefit.

2024 Taxes on Earnings includes $7.497 billion in non-cash valuation allowance adjustments resulting from the restructuring of certain foreign affiliates and the confirmation of certain tax filing positions.

2)2025 Net Earnings and Diluted Earnings per Common Share, excluding Specified Items, excludes net after-tax charges of $2.516 billion, or $1.43 per share, for intangible amortization, charges related to investment impairments, restructuring, legal reserves, acquisitions, and other net expenses.

2024 Net Earnings and Diluted Earnings per Common Share, excluding Specified Items, excludes net after-tax benefits of $5.202 billion, or $2.97 per share, for non-cash valuation allowance adjustments, intangible amortization, charges related to intangible impairments, expenses associated with restructuring actions, acquisitions and a divestiture, and other net expenses.




Page 12 of 20


Abbott Laboratories and Subsidiaries
Non-GAAP Reconciliation of Financial Information
Fourth Quarter Ended December 31, 2025 and 2024
(in millions, except per share data)
(unaudited)
4Q25
As Reported (GAAP) Specified Items As Adjusted
Intangible Amortization
 $ 422  $ (422) $ — 
Gross Margin
 6,115  428  6,543 
R&D
 735  (29) 706 
SG&A
 3,129  (254) 2,875 
Other (income) expense, net
 (134) (17) (151)
Earnings before taxes
 2,358  728  3,086 
Taxes on Earnings
 582  (126) 456 
Net Earnings
 1,776  854  2,630 
Diluted Earnings per Share
 $ 1.01  $ 0.49  $ 1.50 

Specified items reflect intangible amortization expense of $422 million and other net expenses of $306 million associated with restructuring actions, legal reserves, acquisitions, and other net expenses. See page 17 for additional details regarding specified items.
4Q24
As Reported (GAAP) Specified Items As Adjusted
Intangible Amortization
 $ 465  $ (465) $ — 
Gross Margin
 5,567  673  6,240 
R&D
 749  (59) 690 
SG&A
 2,907  (21) 2,886 
Other (income) expense, net
 (154) 20  (134)
Earnings before taxes
 2,030  733  2,763 
Taxes on Earnings
 (7,199) 7,613  414 
Net Earnings
 9,229  (6,880) 2,349 
Diluted Earnings per Share
 $ 5.27  $ (3.93) $ 1.34 

Specified items reflect intangible amortization expense of $465 million and other net expenses of $268 million associated with restructuring actions, acquisitions and other net expenses. See page 18 for additional details regarding specified items.

Page 13 of 20


Abbott Laboratories and Subsidiaries
Non-GAAP Reconciliation of Financial Information
Twelve Months Ended December 31, 2025 and 2024
(in millions, except per share data)
(unaudited)
12M25
As Reported (GAAP) Specified Items As Adjusted
Intangible Amortization
 $ 1,682  $ (1,682) $ — 
Gross Margin
 23,327  1,824  25,151 
R&D
 2,942  (112) 2,830 
SG&A
 12,332  (312) 12,020 
Other (income) expense, net
 (548) (48) (596)
Earnings before taxes
 8,466  2,296  10,762 
Taxes on Earnings
 1,942  (220) 1,722 
Net Earnings
 6,524  2,516  9,040 
Diluted Earnings per Share
 $ 3.72  $ 1.43  $ 5.15 

Specified items reflect intangible amortization expense of $1.682 billion and other net expenses of $614 million associated with restructuring actions, legal reserves, acquisitions, investment impairment charges, and other net expenses. See page 19 for additional details regarding specified items.
12M24
As Reported (GAAP) Specified Items As Adjusted
Intangible Amortization
 $ 1,878  $ (1,878) $ — 
Gross Margin
 21,366  2,213  23,579 
R&D
 2,844  (140) 2,704 
SG&A
 11,697  (117) 11,580 
Other (income) expense, net
 (376) (163) (539)
Earnings before taxes
 7,013  2,633  9,646 
Taxes on Earnings
 (6,389) 7,835  1,446 
Net Earnings
 13,402  (5,202) 8,200 
Diluted Earnings per Share
 $ 7.64  $ (2.97) $ 4.67 

Specified items reflect intangible amortization expense of $1.878 billion and other net expenses of $755 million associated with intangible impairments, restructuring actions, acquisitions, a divestiture and other net expenses. See page 19 for additional details regarding specified items.

Page 14 of 20


A reconciliation of the fourth-quarter tax rates for 2025 and 2024 is shown below:
4Q25
($ in millions) Pre-Tax
Income		 Taxes on
Earnings		 Tax
Rate
As reported (GAAP) $ 2,358  $ 582  24.7 % 1)
Specified items 728  (126)
Excluding specified items $ 3,086  $ 456  14.8 %
4Q24
($ in millions) Pre-Tax
Income		 Taxes on
Earnings		 Tax
Rate
As reported (GAAP) $ 2,030  $ (7,199) (354.6 %) 2)
Specified items 733  7,613 
Excluding specified items $ 2,763  $ 414  15.0 %
1)2025 Taxes on Earnings includes the recognition of approximately $20 million of net tax expense as a result of the resolution of various tax positions related to prior years. 2025 Taxes on Earnings also includes approximately $150 million in adjustments related to prior recognition of a significant non-cash deferred tax benefit.

2)2024 Taxes on Earnings includes $7.497 billion in non-cash valuation allowance adjustments resulting from the restructuring of certain foreign affiliates and the confirmation of certain tax filing positions.


A reconciliation of the year-to-date tax rates for 2025 and 2024 is shown below:
12M25
($ in millions) Pre-Tax
Income		 Taxes on
Earnings		 Tax
Rate
As reported (GAAP) $ 8,466  $ 1,942  22.9 % 3)
Specified items 2,296  (220)
Excluding specified items $ 10,762  $ 1,722  16.0 %
12M24
($ in millions) Pre-Tax
Income		 Taxes on
Earnings		 Tax
Rate
As reported (GAAP) $ 7,013  $ (6,389) (91.1 %) 4)
Specified items 2,633  7,835 
Excluding specified items $ 9,646  $ 1,446  15.0 %
3)2025 Taxes on Earnings includes the recognition of approximately $70 million of net tax benefit as a result of the resolution of various tax positions related to prior years. 2025 Taxes on Earnings also includes approximately $610 million in adjustments related to prior recognition of a significant non-cash deferred tax benefit.

4)2024 Taxes on Earnings includes $7.497 billion in non-cash valuation allowance adjustments resulting from the restructuring of certain foreign affiliates and the confirmation of certain tax filing positions.

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Abbott Laboratories and Subsidiaries
Non-GAAP Revenue Reconciliation
Twelve Months Ended December 31, 2025 and 2024
($ in millions)
(unaudited)

12M25 12M24 % Change vs. 12M24
Non-GAAP
Abbott Reported Abbott Reported Impact from business exit (a) Adjusted Revenue Reported Adjusted Organic
Total Company 44,328  41,950  (13) 41,937  5.7  5.7  5.5 
U.S. 17,126  16,323  (13) 16,310  4.9  5.0  5.0 
Intl 27,202  25,627  —  25,627  6.1  6.1  5.9 
Total Nutrition 8,451  8,413  (13) 8,400  0.4  0.5  1.2 
U.S. 3,606  3,689  (13) 3,676  (2.3) (1.9) (1.9)
Intl 4,845  4,724  —  4,724  2.6  2.6  3.7 
Adult Nutrition 4,477  4,390  (13) 4,377  2.0  2.3  3.0 
U.S. 1,448  1,481  (13) 1,468  (2.2) (1.4) (1.4)
Intl 3,029  2,909  —  2,909  4.1  4.1  5.1 

(a) Reflects the impact of discontinuing the ZonePerfect® product line in the Nutrition business. This action was initiated in March 2024.



Page 16 of 20


Abbott Laboratories and Subsidiaries
Details of Specified Items
Fourth Quarter Ended December 31, 2025
(in millions, except per share data)
(unaudited)

Acquisition or Divestiture- related (a) Restructuring and Cost Reduction Initiatives (b) Intangible Amortization Other (c) Total Specifieds
Gross Margin $ 2  $ 3  $ 422  $ 1  $ 428 
R&D —  (14) —  (15) (29)
SG&A (38) (51) —  (165) (254)
Other (income) expense, net (8) (3) —  (6) (17)
Earnings before taxes $ 48  $ 71  $ 422  $ 187  728 
Taxes on Earnings (d) (126)
Net Earnings $ 854 
Diluted Earnings per Share $ 0.49 
The table above provides additional details regarding the specified items described on page 13.

a)Acquisition-related expenses include integration costs, which represent incremental costs directly related to integrating acquired businesses, as well as other costs related to business acquisitions.
b)Restructuring and cost reduction initiative expenses include severance, outplacement and other direct costs associated with specific restructuring plans.
c)Other includes $165 million for legal reserves related to a certain agreed-upon settlement. Other also includes incremental costs to comply with the European Union's Medical Device Regulations (MDR) and In Vitro Diagnostics Medical Device Regulations (IVDR) requirements for previously approved products.

d)Reflects the net tax benefit associated with the specified items and recognition of a tax expense as a result of the resolution of various tax positions related to prior years. Taxes on Earnings includes approximately $150 million in adjustments related to prior recognition of a significant non-cash deferred tax benefit.

Page 17 of 20


Abbott Laboratories and Subsidiaries
Details of Specified Items
Fourth Quarter Ended December 31, 2024
(in millions, except per share data)
(unaudited)

Acquisition or Divestiture- related (a) Restructuring and Cost Reduction Initiatives (b) Intangible Amortization Other (c) Total Specifieds
Gross Margin $ —  $ 49  $ 465  $ 159  $ 673 
R&D (1) (20) —  (38) (59)
SG&A (5) (22) —  6  (21)
Other (income) expense, net (2) —  —  22  20 
Earnings before taxes $ 8  $ 91  $ 465  $ 169  733 
Taxes on Earnings (d) 7,613 
Net Earnings $ (6,880)
Diluted Earnings per Share $ (3.93)

The table above provides additional details regarding the specified items described on page 13.
a)Acquisition-related expenses include integration costs, which represent incremental costs directly related to integrating acquired businesses, as well as other costs related to business acquisitions.
b)Restructuring and cost reduction initiative expenses include severance, outplacement and other direct costs associated with specific restructuring plans and cost reduction initiatives.
c)Other includes incremental costs to comply with the European Union's Medical Device Regulations (MDR) and In Vitro Diagnostics Medical Device Regulations (IVDR) requirements for previously approved products and intangible asset impairment charges.
d)Reflects the net tax benefit associated with the specified items, including non-cash valuation allowance adjustments.

Page 18 of 20


Abbott Laboratories and Subsidiaries
Details of Specified Items
Twelve Months Ended December 31, 2025
(in millions, except per share data)
(unaudited)

Acquisition or Divestiture- related (a) Restructuring and Cost Reduction Initiatives (b) Intangible Amortization Other (c) Total Specifieds
Gross Margin $ 3  $ 128  $ 1,682  $ 11  $ 1,824 
R&D (1) (56) —  (55) (112)
SG&A (53) (100) —  (159) (312)
Other (income) expense, net (26) (3) —  (19) (48)
Earnings before taxes $ 83  $ 287  $ 1,682  $ 244  2,296 
Taxes on Earnings (d) (220)
Net Earnings $ 2,516 
Diluted Earnings per Share $ 1.43 
The table above provides additional details regarding the specified items described on page 14.

a)Acquisition-related expenses include integration costs, which represent incremental costs directly related to integrating acquired businesses, as well as other costs related to business acquisitions.
b)Restructuring and cost reduction initiative expenses include severance, outplacement and other direct costs associated with specific restructuring plans.
c)Other includes $165 million for legal reserves related to a certain agreed-upon settlement. Other also includes incremental costs to comply with the MDR and IVDR regulations for previously approved products and charges for investment impairments.
d)Reflects the net tax benefit associated with the specified items and recognition of a tax benefit as a result of the resolution of various tax positions related to prior years. Taxes on Earnings includes approximately $610 million in adjustments related to prior recognition of a significant non-cash deferred tax benefit.

Page 19 of 20


Abbott Laboratories and Subsidiaries
Details of Specified Items
Twelve Months Ended December 31, 2024
(in millions, except per share data)
(unaudited)

Acquisition or Divestiture- related (a) Restructuring and Cost Reduction Initiatives (b) Intangible Amortization Other (c) Total Specifieds
Gross Margin $ 2  $ 125  $ 1,878  $ 208  $ 2,213 
R&D (5) (21) —  (114) (140)
SG&A (37) (39) —  (41) (117)
Other (income) expense, net (155) —  —  (8) (163)
Earnings before taxes $ 199  $ 185  $ 1,878  $ 371  2,633 
Taxes on Earnings (d) 7,835 
Net Earnings $ (5,202)
Diluted Earnings per Share $ (2.97)
The table above provides additional details regarding the specified items described on page 14.

a)Includes the loss on the sale of a non-core business. Acquisition-related expenses include integration costs, which represent incremental costs directly related to integrating acquired businesses, as well as other costs related to business acquisitions.
b)Restructuring and cost reduction initiative expenses include severance, outplacement and other direct costs associated with specific restructuring plans and cost reduction initiatives.
c)Other includes incremental costs to comply with the MDR and IVDR regulations for previously approved products and charges for investment and intangible asset impairments.
d)Reflects the net tax benefit associated with the specified items, including non-cash valuation allowance adjustments.
Page 20 of 20