Abbott Laboratories (NYSE:ABT) is scheduled to announce Q4 earnings results on Wednesday, January 25th, before market open.

The consensus EPS Estimate is $0.93 (-29.5% Y/Y) and the consensus Revenue Estimate is $9.69B (-15.7% Y/Y).

Over the last 2 years, ABT has beaten EPS estimates 100% of the time and has beaten revenue estimates 88% of the time.

Over the last 3 months, EPS estimates have seen 4 upward revisions and 2 downward. Revenue estimates have seen 3 upward revisions and 1 downward.

The company’s stock fell -6.54% on Oct. 19 despite Q3 results beating analysts’ estimates. Abbott’s revenue had fallen for the first time in more than two years driven by declining COVID-19 testing and U.S. baby formula issues.

Last week, the Department of Justice began a criminal investigation of conduct at Abbott’s baby formula production facility that was temporarily shut down in 2022. Abbott had recalled baby formula in 2022, including Similac, produced at its Sturgis, Mich., plant after several children became sick from Cronobacter infection after consuming the formula. The shutdown also led to a shortage of baby formula.

Meanwhile, Abbott is among the stocks outlined as high-conviction names for Q1 by Wells Fargo. The firm expects the company to continue to deliver double-digit underlying EPS growth on mid-to-high single-digit underlying sales growth and operating leverage.

Abbott is also among the Goldman Sachs potential stock picks for 2023 in the MedTech space, according to a report in December 2022.

Notable news in Q4:

The EU proposed delaying a law that requires all medical devices to be re-certified amidst concerns over device shortages.

In December, the Biden administration resumed a program under which households could request at-home COVID-19 tests for free through the winter.

The U.S. FDA granted approval to Abbott’s Eterna spinal cord stimulation system for chronic pain.