Abbott maintains profit forecast, invests $500 million in US; shares rise 6%

From Yahoo Finance: 2025-04-16 07:33:00

Abbott Laboratories maintains annual profit forecast despite anticipated U.S. tariffs impact. Shares rise 6%, with $500 million investment in manufacturing and research projects announced. Projects in Illinois and Texas to mitigate impact from Trump’s levies on China. Johnson & Johnson forecasts $400 million impact from tariffs. Abbott has 89 manufacturing facilities worldwide. CEO expects tariff impact in third quarter. Analyst predicts $300 million impact for Abbott this year. Company reaffirms 2025 profit forecast of $5.05 to $5.25 per share. Q1 adjusted earnings beat estimates. Analysts relieved by news.

Read more: Abbott backs profit forecast, to invest $500 million in US amid tariffs