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AbbVie (ABBV) investor relations material
AbbVie Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Q3 revenue was $17.404B, up 10.3% reported and 10.5% operational; adjusted EPS was $3.82 versus $1.86 YoY and beat the guidance midpoint by $0.07.
Immunology and neuroscience led growth; oncology was nearly flat and aesthetics declined. FY26 revenue guidance rose $200M, and adjusted EPS guidance increased.
Financial highlights
GAAP operating earnings were $6.267B versus $1.904B; GAAP net earnings were $4.218B versus $186M, and GAAP diluted EPS was $2.37 versus $0.10.
Adjusted gross margin was 85.1% and adjusted operating margin 48.7%; adjusted R&D and SG&A were 13.9% and 21.2% of revenue.
Adjusted net interest expense was $688M and the adjusted tax rate was 13.6%.
Outlook and guidance
FY26 revenue guidance rose $200M to $67.8B; adjusted EPS guidance increased to $13.95–$13.99 from $13.76–$13.96.
FY26 EPS guidance includes a $0.69-per-share impact from acquired IPR&D and milestones incurred through Q3, and excludes future such expenses that cannot be reliably forecasted.
FY immunology sales outlook is $34.9B, including SKYRIZI at $21.8B and RINVOQ at $10.3B; neuroscience outlook is $13B.
FY oncology sales guidance is $6.6B and aesthetics outlook remains $5B; adjusted operating margin is forecast at ~46.7%, including ~1.8% acquired IPR&D impact.
Q4 revenue is expected to be $18.4B with a modest FX headwind; adjusted EPS guidance is $3.83–$3.87, excluding acquired IPR&D expense that may occur in the quarter.
- Skyrizi and Rinvoq’s combined 2027 sales target rose to >$27B.ABBV
Q4 2023 - Robust pipeline and strategic deals drive growth in immunology, neuroscience, and oncology.ABBV
Morgan Stanley 24th Annual Global Healthcare Conference - Strong immunology growth and innovative oncology assets set the stage for long-term expansion.ABBV
Wells Fargo 21st Annual Healthcare Conference - Strong growth, robust pipeline catalysts, and disciplined financial strategy drive long-term outlook.ABBV
Leerink Global Healthcare Conference 2026 - Q2 revenues up 10.2% and adjusted EPS up 22.9%, led by immunology and neuroscience growth.ABBV
Q2 2026 - Strong financials, pipeline growth, and governance reform efforts marked the annual meeting.ABBV
AGM 2025 - Rising hesitancy, trusted local voices, and innovation define the evolving vaccine landscape.ABBV
7th Annual Healthcare Symposium - Strong pipeline and innovative R&D strategies support sustained growth and market leadership.ABBV
TD Cowen 46th Annual Health Care Conference - Strong growth outlook driven by innovation in immunology, neuroscience, and oncology.ABBV
Goldman Sachs 45th Annual Global Healthcare Conference
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Frequently asked questions
Innovative therapies for improved health worldwide
Abbvie is a global biopharmaceutical company that focuses on the discovery, development, and commercialization of innovative medicines. The company's mission is to address complex health challenges and improve the lives of people around the world. Abbvie's primary areas of therapeutic focus include immunology, oncology, neuroscience, virology, and general medicine.
Abbvie's business model revolves around research and development (R&D) to discover and advance novel therapies, obtaining regulatory approvals for its products, and commercializing them in global markets. The company's revenue primarily comes from the sales of its pharmaceutical products.
Structural tailwinds
Opportunities for Abbvie lie in several areas. The global healthcare market continues to grow as the population ages, and there is a constant need for effective treatments for various diseases. Abbvie can leverage its R&D capabilities to develop innovative therapies that address unmet medical needs, expanding its product portfolio and capturing market share.
Furthermore, Abbvie has a robust pipeline of potential new drugs, which presents opportunities for future growth. By successfully developing and commercializing these pipeline candidates, the company can strengthen its market position and drive revenue growth.
Challenges faced by Abbvie include the competitive nature of the pharmaceutical industry. There are other established pharmaceutical companies and biotech firms developing treatments for similar indications. Abbvie needs to navigate patent expirations, competition from generic drugs, and the potential impact of biosimilars on its revenue.
Additionally, the regulatory environment poses challenges for Abbvie. Obtaining regulatory approvals for new drugs is a complex and time-consuming process, and the company must meet stringent safety and efficacy requirements set by regulatory authorities worldwide.
Three listed peers to Abbvie
Johnson & Johnson, a multinational healthcare conglomerate that operates in various segments, including pharmaceuticals, medical devices, and consumer health. It develops and sells a wide range of products and therapies across multiple therapeutic areas.
The leading global pharmaceutical company Pfizer that develops, manufactures, and markets a diverse portfolio of prescription drugs, vaccines, and consumer healthcare products. It has a strong presence in various therapeutic areas, including oncology, immunology, and rare diseases.
Eli Lilly and Company, a global pharmaceutical company that focuses on developing and commercializing innovative medicines in areas such as oncology, diabetes, neuroscience, and immunology. The company is known for its expertise in biotechnology and has a strong pipeline of potential new drugs.
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