-- AbbVie (ABBV) raised its full-year outlook on Wednesday as the biopharmaceutical company recorded better-than-expected first-quarter results, driven by robust revenue growth from its Skyrizi and Rinvoq immunology drugs.
Per-share adjusted earnings are expected at $14.08 to $14.28 for 2026, up from prior guidance of $13.96 to $14.16. The guidance includes $0.41 in expenses related to acquired in-process research and development and milestone expenses in the first quarter. The current consensus on FactSet is for non-GAAP EPS of $14.12.
AbbVie now expects revenue of about $67.3 billion for the current year, an increase of $300 million, Chief Financial Officer Scott Reents said during an earnings call, according to a FactSet transcript. The Street is looking for $67.07 billion.
The company's shares rose 0.9% in Wednesday trading. The stock has dropped 13% this year.
For the March quarter, the company reported adjusted EPS of $2.65, up from $2.46 a year earlier and ahead of the Wall Street estimate of $2.59. Revenue climbed 12% to $15 billion, surpassing the estimate on FactSet for $14.72 billion.
"We are off to an excellent start in 2026, with first-quarter results exceeding our expectations," CEO Robert Michael said in a statement. "AbbVie's key growth drivers continue to deliver strong performance and support our enhanced full-year outlook."
Global sales from the immunology portfolio rose 16% to $7.29 billion. Gains of 31% for Skyrizi and 23% for Rinvoq helped counter a 39% drop for Humira. In the neuroscience segment, revenue jumped 26% to $2.89 billion, while oncology portfolio sales eased 0.2% to $1.63 billion.
Revenue in the aesthetics portfolio increased 7.6% to $1.19 billion.
AbbVie projects adjusted EPS of $3.74 to $3.78 in the current quarter on revenue of $16.7 billion, including a foreign-exchange gain of 0.6%, Reents said on the call. Analysts project non-GAAP EPS of $3.75 on sales of $16.8 billion.
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