AbbVie Inc. Files Q3 2024 10-Q Financial Report

TL;DR

**AbbVie Q3 2024 10-Q filed. Financials look solid, watch for FX impacts.**

AI Summary

AbbVie Inc. filed its 10-Q for the period ending September 30, 2024. The filing details the company's financial performance and position, including revenue, expenses, and other financial metrics. Specific financial data points such as cost of goods and services sold, interest income/expense, and foreign currency transaction gains/losses are reported.

Why It Matters

This filing provides investors and analysts with a detailed look at AbbVie's financial health and operational performance during the third quarter of 2024, influencing investment decisions.

Risk Assessment

Risk Level: low — This is a routine quarterly financial filing (10-Q) and does not inherently present new risks beyond standard market fluctuations.

Key Numbers

• Q3 2024 — Reporting Period (The financial results cover the third quarter of 2024.)

Key Players & Entities

• AbbVie Inc. (company) — Filer of the 10-Q
• 20240930 (date) — End of the reporting period
• 20241104 (date) — Filing date
• 0001551152-24-000040 (other) — Accession Number for the filing

FAQ

Key Financial Figures

• $0.01 — ich registered Common Stock, par value $0.01 per share ABBV New York Stock Exchange

Filing Documents

• abbv-20240930.htm (10-Q) — 2349KB
• abbv-20240930xex311.htm (EX-31.1) — 9KB
• abbv-20240930xex312.htm (EX-31.2) — 9KB
• abbv-20240930xex321.htm (EX-32.1) — 5KB
• abbv-20240930xex322.htm (EX-32.2) — 5KB
• abbv-20240930_g1.jpg (GRAPHIC) — 15KB
• abbv-20240930_g2.gif (GRAPHIC) — 1KB
• 0001551152-24-000040.txt ( ) — 11839KB
• abbv-20240930.xsd (EX-101.SCH) — 61KB
• abbv-20240930_cal.xml (EX-101.CAL) — 101KB
• abbv-20240930_def.xml (EX-101.DEF) — 403KB
• abbv-20240930_lab.xml (EX-101.LAB) — 784KB
• abbv-20240930_pre.xml (EX-101.PRE) — 565KB
• abbv-20240930_htm.xml (XML) — 2369KB

FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA 1 Item 2.

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS 31 Item 3.

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 42 Item 4.

CONTROLS AND PROCEDURES

CONTROLS AND PROCEDURES 42 PART II. OTHER INFORMATION Item 1.

LEGAL PROCEEDINGS

LEGAL PROCEEDINGS 44 Item 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS 44 Item 5. OTHER ITEMS 44 Item 6. EXHIBITS 45

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

ITEM 1. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA AbbVie Inc. and Subsidiaries Condensed Consolidated Statements of Earnings (unaudited) Three months ended September 30, Nine months ended September 30, (in millions, except per share data) 2024 2023 2024 2023 Net revenues $ 14,460 $ 13,927 $ 41,232 $ 40,017 Cost of products sold 4,212 6,485 12,508 14,711 Selling, general and administrative 4,205 3,372 10,897 9,679 Research and development 2,130 1,723 6,017 5,748 Acquired IPR&D and milestones 82 66 1,183 496 Other operating income — — — ( 179 ) Total operating costs and expenses 10,629 11,646 30,605 30,455 Operating earnings 3,831 2,281 10,627 9,562 Interest expense, net 591 398 1,550 1,306 Net foreign exchange loss (gain) ( 3 ) 25 2 97 Other expense (income), net 1,159 ( 95 ) 3,090 3,121 Earnings before income tax expense 2,084 1,953 5,985 5,038 Income tax expense 520 172 1,676 989 Net earnings 1,564 1,781 4,309 4,049 Net earnings attributable to noncontrolling interest 3 3 9 8 Net earnings attributable to AbbVie Inc. $ 1,561 $ 1,778 $ 4,300 $ 4,041 Per share data Basic earnings per share attributable to AbbVie Inc. $ 0.88 $ 1.00 $ 2.41 $ 2.27 Diluted earnings per share attributable to AbbVie Inc. $ 0.88 $ 1.00 $ 2.41 $ 2.26 Weighted-average basic shares outstanding 1,769 1,767 1,769 1,768 Weighted-average diluted shares outstanding 1,772 1,771 1,772 1,772 The accompanying notes are an integral part of these condensed consolidated financial statements. 2024 Form 10-Q | 1 AbbVie Inc. and Subsidiaries Condensed Consolidated Statements of Comprehensive Income (unaudited) Three months ended September 30, Nine months ended September 30, (in millions) 2024 2023 2024 2023 Net earnings $ 1,564 $ 1,781 $ 4,309 $ 4,049 Foreign currency translation adjustments, net of tax expense (benefit) of $ 25 for the three months and $ 1 the nine months ended September 30, 2024 and $( 17 ) for the three months and $( 11 ) nine months ended Sep

View Full Filing

View this 10-Q filing on SEC EDGAR