AI English summary of an SEC filing — figures as filed
AbbVie ABBVAbbVie said it expects GAAP and adjusted non-GAAP earnings for Q1 2024 to include acquired IPR&D and milestones expense of $164 million on a pre-tax basis. The company said this represents an unfavorable impact of $0.08 on both GAAP and adjusted non-GAAP diluted earnings per share.
Key points
AI summaryAbbVie said it expects GAAP and adjusted non-GAAP earnings for Q1 2024 to include acquired IPR&D and milestones expense of $164 million on a pre-tax basis. The company said this represents an unfavorable impact of $0.08 on both GAAP and adjusted non-GAAP diluted earnings per share.
The company presented its adjusted diluted earnings per share outlook range for Q1 including acquired IPR&D and milestones expense incurred in Q1 2024 at $2.18 to $2.22. Excluding this expense, the prior outlook was $2.26 to $2.30, and the impact of the expense was $0.08 per share.
AbbVie said it presented its full-year 2024 adjusted diluted earnings per share outlook range, including the impact of acquired IPR&D and milestones expense incurred in Q1 2024, at $10.97 to $11.17. The company's prior full-year outlook, announced on February 12, 2024, excluded this expense and was $11.05 to $11.25 per share.
The company said it does not forecast acquired IPR&D and milestones expense, as such expense may be incurred upon execution of collaborations, licensing agreements and other transactions, and the timing and occurrence of these transactions are uncertain. The company said its 2024 adjusted diluted earnings per share outlook excludes the impact of any such expense incurred after Q1.
Summary
AI-writtenAnalysis scope · Filing body and confirmed press-release exhibitWe analyzed the filing body and confirmed exhibits. This is not a review of other exhibits, investor presentations or the full earnings call.
Acquired IPR&D and Milestones Expense in Q1 2024 $164 million
AbbVie said it expects GAAP and adjusted non-GAAP earnings for Q1 2024 to include acquired IPR&D and milestones expense of $164 million on a pre-tax basis. The company said this represents an unfavorable impact of $0.08 on both GAAP and adjusted non-GAAP diluted earnings per share.
Source · Based on the filing body and exhibits
AbbVie Q1 adjusted diluted EPS outlook $2.18 - $2.22
The company presented its adjusted diluted earnings per share outlook range for Q1 including acquired IPR&D and milestones expense incurred in Q1 2024 at $2.18 to $2.22. Excluding this expense, the prior outlook was $2.26 to $2.30, and the impact of the expense was $0.08 per share.
Source · Based on the filing body and exhibits
AbbVie 2024 full-year adjusted diluted EPS outlook $10.97 - $11.17
AbbVie said it presented its full-year 2024 adjusted diluted earnings per share outlook range, including the impact of acquired IPR&D and milestones expense incurred in Q1 2024, at $10.97 to $11.17. The company's prior full-year outlook, announced on February 12, 2024, excluded this expense and was $11.05 to $11.25 per share.
Source · Based on the filing body and exhibits
No outlook given for acquired IPR&D and milestones expense
The company said it does not forecast acquired IPR&D and milestones expense, as such expense may be incurred upon execution of collaborations, licensing agreements and other transactions, and the timing and occurrence of these transactions are uncertain. The company said its 2024 adjusted diluted earnings per share outlook excludes the impact of any such expense incurred after Q1.
Source · Based on the filing body and exhibits
AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.
Original filing
The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.
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