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AbbVie narrows guidance for 2022

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Shares of AbbVie Inc. ABBV, -5.26% fell 2.9% in premarket trading on Friday after the company trimmed guidance for adjusted earnings per share for the year. AbbVie had earnings of $3.9 billion, or $2.21 per share, in the third quarter of 2022, compared with $3.2 billion, or $1.78 per share, in the same quarter a year ago. Adjusted earnings per share were $3.66, against a FactSet of $3.57. The company reported revenue of $14.8 billion for the quarter, up from $14.2 billion in the same three months of last year. The FactSet consensus was $14.9 billion. Humira generated $5.5 billion in revenue for the quarter, against a FactSet consensus of $5.6 billion. AbbVie narrowed its guidance for adjusted EPS for the year, saying it now expects $13.84 to $13.88 per share. The previous guidance was $13.76 to $13.96 per share. AbbVie’s stock is up 13.3% this year, while the broader S&P 500 SPX, +0.74% is down 19.6%.

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