These non-GAAP financial measures are reconciled with the comparable GAAP financial measures in our earnings news release and regulatory filings from today, which are available on our website at abbott.com. This quarter also marked an important strategic milestone for Abbott with the completion of our acquisition of Exact Sciences. This acquisition adds a new high-growth business to the Abbott portfolio, further strengthening our leadership position in diagnostics and expanding our presence into one of the fastest-growing areas of healthcare, cancer diagnostics. As we communicated at the time of the acquisition announcement, we forecast the addition of Exact Sciences to add approximately $3 billion of incremental sales in 2026 and accelerate Abbott's long-term sales growth rate.
Growth of 3% was driven by growth in the U.S., Europe, and Latin America. In our rapid and molecular diagnostics business, sales declined 10%, reflecting lower demand for respiratory virus testing due to a much weaker respiratory season compared to last year. In cancer diagnostics, sales grew 13% on a comparable basis, driven by mid-teens growth of Cologuard and high teens growth in international markets. While we are still early in the transition back toward a more sustainable balance between price and volume-driven growth, I am encouraged by the progress we're making.
Early data indicates we are seeing the intended effect, with volume growth beginning to follow our pricing actions. We continue to expect that these pricing actions, combined with the launch of several new products, will result in growth improving over the course of the year. Growth was broad-based across the markets we serve, which included double-digit growth in several countries across Latin America and Asia Pacific regions. Demand in these markets continues to be supported by favorable long-term healthcare, economic, and demographic trends.
| Metric | Period | Current guidance |
|---|---|---|
| Comparable sales growth | FY2026 | 6.5%-7.5% (now comparable basis, including full-year Exact Sciences in both years) (Basis changed to comparable) |
| Adjusted EPS (midpoint) | FY2026 | $5.48 (-$0.20 (Exact Sciences dilution)) |
| Adjusted EPS | Q2 2026 | $1.25-$1.31 (New) |
| FX impact on reported sales | FY2026 | Approximately +1% favorable (New) |
| FX impact on sales | Q2 2026 | Relatively neutral (New) |
| Metric | YoY | Note |
|---|---|---|
| Total sales (comparable) | +3.7% | Aligned with expectations to start the year; FX added a favorable 4% year-over-year impact. |
| Core Lab Diagnostics | +3% (comparable) | Growth driven by the U.S., Europe, and Latin America; China sales were flat versus 15%-30% declines per quarter last year as VBP headwinds lapped. |
| Rapid and molecular diagnostics | -10% | Lower respiratory virus testing demand due to a much weaker respiratory season versus last year. |
| Cancer diagnostics | +13% (comparable) | Mid-teens Cologuard growth plus high-teens growth in international markets. |
| EPD (pharmaceuticals) | +9% | Broad-based growth including double-digit gains across several Latin America and Asia Pacific markets. |
| Medical devices | +8.5% | Strong cardiovascular performance, including double-digit electrophysiology, heart failure, and rhythm management growth. |
| Continuous glucose monitoring | +7.5% | Impacted by a delayed international tender renewal and a tough comparison to prior-year first-half shelf restocking. |
| Adjusted EPS | +6% | Consistent with guidance despite earlier-than-planned Exact Sciences financing costs and a weak respiratory season. |
| Topic | Previous mention | Current period | Trend |
|---|---|---|---|
| Exact Sciences acquisition and integration | — | Closed March 23, 2026; reported within Diagnostics but operating standalone under Jake Orville; adds ~$3 billion of 2026 sales and is performing well | Rising |
| Second-half growth acceleration | — | Management remains confident in H2 acceleration driven by nutrition strategy, EP and Core Lab recovery, and EPD/device strength | Steady |
| Nutrition pricing-to-volume transition | Pricing actions taken in Q4 2025 | Early signs of volume growth following price resets (e.g., Ensure); recovery underway but still early | Rising |
| CGM market opportunity and catalysts | — | Management bullish on a 70-80 million-person TAM (~$30-$35 billion); catalysts include type 2 non-insulin reimbursement, international coverage, and the dual analyte system expected in H2 | Rising |
| China Core Lab VBP headwind | ~$1 billion headwind last year with 15%-30% quarterly declines | China Core Lab flat in Q1; ~80% of portfolio has gone through VBP; modeled at single-digit decline for the year | Declining |
| Electrophysiology PFA launches | — | Volt (U.S.) and TactiFlex Duo (Europe) in limited market release with favorable feedback; expected to grow faster than the mid-to-high-teens market by year exit | Rising |