By Will Feuer

 

Abbott Laboratories raised its full-year Covid-19 testing-related sales guidance, but lowered its expectations for annual earnings.

The Abbott Park, Ill.-based medical-products company said it now expects about $4.5 billion in Covid-19 testing-related sales for the year, with much of that expected to occur in the first half of the year. In January, the company said it expected Covid-19 testing sales of about $2.5 billion.

In 2021, the company recorded about $7.7 billion in Covid-19 testing-related sales.

Abbott lowered its full-year guidance for earnings to at least $3.35 a share from at least $3.43 a share previously. The company maintained adjusted earnings from continuing operations guidance of at least $4.70 a share.

 

Write to Will Feuer at Will.Feuer@wsj.com

 

(END) Dow Jones Newswires

April 20, 2022 08:13 ET (12:13 GMT)

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