AbbVie (ABBV) to Report Q2 Earnings: What's in the Cards?

·5 min read

AbbVie ABBV will report second-quarter 2022 results on Jul 29, before market open. In the last reported quarter, the company delivered an earnings surprise of 0.32%.

AbbVie’s stock has risen 11% so far this year compared with an increase of 2.8% for the industry.

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This large drugmaker’s performance has been pretty impressive, with its earnings beating estimates in three of the trailing four quarters and meeting the same in one. The company has a four-quarter earnings surprise of 1.01%, on average.

Factors to Consider

Strong demand for immunology drugs, aesthetics and cosmetics products is expected to have driven sales in the second quarter of 2022. Moreover, new drug launches in the past few quarters are likely to have brought additional sales during the second quarter. However, currency movements are likely to have hurt sales growth during the second quarter.

Second-quarter earnings are expected between $3.38 and $3.42 per share. ABBV expects adjusted revenues to be around $14.6 billion in the second quarter, indicating year-over-year growth of nearly 5%. The Zacks Consensus Estimate for earnings and revenues stands at $3.28 per share and $14.65 billion, respectively.

In immunology, Humira has been witnessing strong demand trends in the United States. Sales of the drug in the United States are likely to have increased in the second quarter. However, Humira’s international sales are expected to have continued their downward trend due to the impact of biosimilars in Europe. The Zacks Consensus Estimate for Humira stands at $5.27 billion, which includes $630 million from international markets and the rest from the U.S. market alone.

The sales of new immunology drugs, Skyrizi and Rinvoq, reflected strong uptake during the last few quarters. The strong uptake is expected to have continued in the soon-to-be-reported quarter. The label expansions of Rinvoq and Skyrizi to include new patient populations in recent quarters in different countries are likely to have driven the sales of the drugs further during the quarter. In the first half of 2022, Rinvoq received FDA approval for label expansion in atopic dermatitis, ulcerative colitis and ankylosing spondylitis.

In oncology, AbbVie markets Imbruvica in partnership with Johnson & Johnson JNJ and Venclexta in partnership with Roche. Sales of the J&J and Roche-partnered drugs are likely to have been strong in the soon-to-be-reported quarter. However, the lower new patient starts in the chronic lymphocytic leukemia (CLL) indication for both J&J and Roche-partnered drugs — Imbruvica and Venclexta, — due to the COVID-19 pandemic are likely to have hurt sales. J&J on its earnings call, said that the rising pressure in the United States due to new oral competition has been hurting sales of Imbruvica for the past few quarters. The Zacks Consensus Estimate for J&J-partnered drug, Imbruvica and Roche-partnered drug, Venclexta, is pegged at $1.26 billion and $554 million, respectively.

Sales of AbbVie’s aesthetics products, Botox cosmetic and Juverderm, in the first quarter were hurt by the impact of COVID in China and no sales in Russia. AbbVie has suspended its aesthetics business operations in Russia, which is a key market for fillers. This should hurt aesthetics sales somewhat in the to-be reported quarter. Moreover, sales of the neuroscience franchise also showed strong growth in recent quarters. The trend is expected to have continued for both franchises in the soon-to-be-reported quarter. The Zacks Consensus Estimate for aesthetics and neuroscience products stands at $1.52 and $1.71 billion, respectively.

On the earnings call, investors’ focus will likely be on AbbVie’s strategies around Humira following its potential loss of exclusivity in the United States, which is expected next year. They are also likely to ask questions about the rising competition for other drugs, including Imbruvica, on the earnings call. Investors’ focus will likely be on any update related to the guidance for 2022. 

Earnings Whispers


Our proven model does not conclusively predict an earnings beat for AbbVie this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat, which is not the case here as you will see below. You can uncover the best stocks to buy or sell before they're reported with our Earnings ESP Filter.

Earnings ESP: Earnings ESP, which represents the difference between the Most Accurate Estimate and the Zacks Consensus Estimate, is 0.00% as both the Most Accurate Estimate and Zacks Consensus Estimate stand at $3.28 per share.

Zacks Rank: AbbVie currently carries a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank stocks here.

AbbVie Inc. Price

AbbVie Inc. Price
AbbVie Inc. Price

AbbVie Inc. price | AbbVie Inc. Quote

Stocks to Consider

Here are some large drug/biotech stocks that have the right combination of elements to beat on earnings this time around:

AstraZeneca AZN has an Earnings ESP of +1.38% and a Zacks Rank #3.

AstraZeneca’s stock has risen 13.6% this year so far. AstraZeneca topped earnings estimates in two of the last four quarters, missed the mark on one occasion and met the mark on another. AZN has a four-quarter earnings surprise of 1.32%, on average. AstraZeneca is scheduled to release its second-quarter 2022 results on Jul 29.

Bayer BAYRY has an Earnings ESP of +5.26% and a Zacks Rank #3.

Bayer’s performance has been pretty impressive, with the company exceeding earnings expectations in each of the trailing four quarters. It delivered a four-quarter earnings surprise of 17.71%, on average.

Bayer is scheduled to release its second-quarter 2022 results on Aug 4. The stock is up 11.2% this year so far.

Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.

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