Third quarter 2026
Filed Oct 30, 2026AbbVie Reports Third-Quarter 2026 Financial Results
Worldwide net revenues increased 10.3 percent, immunology and neuroscience each delivered double-digit reported growth, GAAP diluted EPS was $2.37 versus $0.10, adjusted diluted EPS was $3.82 versus $1.86, and AbbVie raised its 2026 adjusted diluted EPS guidance range.
Key metrics
shortened, hover for the filing’s print| Metric | Value | q/q | y/y |
|---|---|---|---|
| Third-quarter net revenuesGAAP | $17.40B | – | 10.3% |
| Third-quarter cost of products soldGAAP | $4.29B | – | – |
| Third-quarter selling, general and administrativeGAAP | $4.09B | – | – |
| Third-quarter research and developmentGAAP | $2.57B | – | – |
| Third-quarter acquired IPR&D and milestonesGAAP | $216M | – | – |
| Third-quarter other operating incomeGAAP | −$18M | – | – |
| Third-quarter total operating costs and expensesGAAP | $11.14B | – | – |
| Third-quarter operating earningsGAAP | $6.27B | – | – |
| Third-quarter operating margin ratioGAAP | 36.0 percent | – | – |
| Third-quarter adjusted operating margin rationon-GAAP | 48.7 percent | – | – |
| Third-quarter gross margin ratioGAAP | 75.4 percent | – | – |
| Third-quarter adjusted gross margin rationon-GAAP | 85.1 percent | – | – |
| Third-quarter SG&A expense as a percentage of net revenuesGAAP | 23.5 percent | – | – |
| Third-quarter adjusted SG&A expense as a percentage of net revenuesnon-GAAP | 21.2 percent | – | – |
| Third-quarter R&D expense as a percentage of net revenuesGAAP | 14.7 percent | – | – |
| Third-quarter adjusted R&D expense as a percentage of net revenuesnon-GAAP | 13.9 percent | – | – |
| Third-quarter acquired IPR&D and milestones expense as a percentage of net revenuesGAAP | 1.2 percent | – | – |
| Third-quarter interest expense, netGAAP | $700M | – | – |
| Third-quarter adjusted interest expense, netnon-GAAP | $688M | – | – |
| Third-quarter other expense, netGAAP | $738M | – | – |
| Third-quarter earnings before income tax expenseGAAP | $4.83B | – | – |
| Third-quarter income tax expenseGAAP | $609M | – | – |
| Third-quarter tax rateGAAP | 12.6 percent | – | – |
| Third-quarter adjusted tax ratenon-GAAP | 13.6 percent | – | – |
| Third-quarter net earningsGAAP | $4.22B | – | – |
| Third-quarter net earnings attributable to AbbVie Inc.GAAP | $4.22B | – | – |
| Third-quarter diluted earnings per share attributable to AbbVie Inc.GAAP | $2.37 | – | an increase of over 100.0 percent |
| Third-quarter adjusted diluted earnings per sharenon-GAAP | $3.82 | – | an increase of over 100.0 percent |
| Third-quarter weighted-average diluted shares outstandingGAAP | 1.77B | – | – |
| Nine-month net revenuesGAAP | $49.40B | – | 10.9% |
| Nine-month operating earningsGAAP | $16.69B | – | – |
| Nine-month net earnings attributable to AbbVie Inc.GAAP | $8.53B | – | – |
| Nine-month diluted earnings per share attributable to AbbVie Inc.GAAP | $4.79 | – | – |
| Nine-month adjusted diluted earnings per sharenon-GAAP | $10.12 | – | – |
Segments
| Segment | Revenue | q/q | y/y |
|---|---|---|---|
| Immunology portfolioGlobal net revenues | $9.16B | – | 16.3 percent on a reported basis, or 16.6 percent on an operational basis |
| SkyriziGlobal net revenues | $5.78B | – | 22.7 percent on a reported basis, or 22.9 percent on an operational basis |
| RinvoqGlobal net revenues | $2.71B | – | 23.9 percent on a reported basis, or 24.3 percent on an operational basis |
| HumiraGlobal net revenues | $683M | – | a decrease of 31.2 percent on a reported basis, or 30.6 percent on an operational basis |
| Neuroscience portfolioGlobal net revenues | $3.39B | – | 19.4 percent on a reported basis, or 19.5 percent on an operational basis |
| VraylarGlobal net revenues | $1.07B | – | 14.3 percent |
| Botox TherapeuticGlobal net revenues | $1.08B | – | 9.8 percent |
| UbrelvyGlobal net revenues | $449M | – | 26.9 percent |
| QuliptaGlobal net revenues | $398M | – | 38.2 percent on a reported basis, or 38.5 percent on an operational basis |
| VyalevGlobal net revenues | $286M | – | >100.0% |
| Other NeuroscienceGlobal net revenues | $108M | – | (23.9)% |
| Oncology portfolioGlobal net revenues | $1.70B | – | 0.8 percent on a reported basis, or 0.9 percent on an operational basis |
| VenclextaGlobal net revenues | $803M | – | 10.7 percent |
| ImbruvicaGlobal net revenues; international revenues reflect profit sharing | $522M | – | a decrease of 26.1 percent |
| ElahereGlobal net revenues | $224M | – | 31.0 percent on a reported basis, or 31.2 percent on an operational basis |
| EpkinlyU.S. revenues reflect profit sharing; international revenues reflect product revenues and profit sharing from certain international territories | $108M | – | 57.7% |
| Other OncologyGlobal net revenues | $39M | – | >100.0% |
| Aesthetics portfolioGlobal net revenues | $1.18B | – | a decrease of 1.4 percent on a reported basis, or 1.8 percent on an operational basis |
| Botox CosmeticGlobal net revenues | $669M | – | 4.9 percent on a reported basis, or 4.1 percent on an operational basis |
| Juvederm CollectionGlobal net revenues | $222M | – | a decrease of 11.9 percent on a reported basis, or 11.8 percent on an operational basis |
| Other AestheticsGlobal net revenues | $285M | – | (6.0)% |
| Other Key ProductsGlobal net revenues | $965M | – | (4.1)% |
| MavyretGlobal net revenues | $265M | – | (15.1)% |
| CreonGlobal net revenues | $361M | – | (2.2)% |
| LinzessGlobal net revenues | $339M | – | 4.2% |
Full year 2026 outlook
- NoteAdjusted diluted EPS guidance of $13.95 - $13.99
- NoteIncludes an unfavorable impact of $0.69 per share related to acquired IPR&D and milestones expense incurred year-to-date through the third quarter 2026
- NoteGuidance excludes any impact from acquired IPR&D and milestones that may be incurred beyond the third quarter of 2026
Capital returns
- Quarterly cash dividend increased from $1.73 per share to $1.82 per share beginning with the dividend payable on February 16, 2027 to shareholders of record as of January 15, 2027.
- Dividend increase of approximately 5.2 percent.
What drove it
- Worldwide net revenues increased 10.3 percent on a reported basis, or 10.5 percent on an operational basis.
- Immunology portfolio revenue increased 16.3 percent on a reported basis, led by Skyrizi revenue of $5.776 billion and Rinvoq revenue of $2.706 billion.
- Neuroscience portfolio revenue increased 19.4 percent on a reported basis, with growth in Vraylar, Botox Therapeutic, Ubrelvy and Qulipta.
- AbbVie completed the acquisition of Apogee Therapeutics, which includes zumilokibart and APG273.
- The FDA approved Skyrizi for subcutaneous induction in moderately to severely active Crohn's disease and approved Juvmo tablets for adults with Parkinson's disease.
Concerns
- Global Humira net revenues decreased 31.2 percent on a reported basis.
- Global Imbruvica net revenues decreased 26.1 percent.
- Aesthetics portfolio net revenues decreased 1.4 percent on a reported basis, including an 11.9 percent decline in Juvederm Collection.
- Oncology portfolio net revenues increased 0.8 percent on a reported basis.
- Third-quarter results included an unfavorable impact of $0.11 per share related to acquired IPR&D and milestones expense.
What to watch
- Execution of the raised full-year 2026 adjusted diluted EPS guidance of $13.95 - $13.99.
- Skyrizi and Rinvoq growth alongside continued Humira revenue declines.
- Neuroscience growth, including Qulipta, Ubrelvy, Vraylar, Botox Therapeutic and Vyalev.
- Aesthetics performance, particularly Botox Cosmetic and Juvederm Collection.
- Additional data from the 36-week blinded extension period for lutikizumab are expected next year, with regulatory submissions for hidradenitis suppurativa planned in the second half of 2027.
- Integration of Apogee Therapeutics and advancement of its immunology pipeline assets.
Analysis
AbbVie reported third-quarter worldwide net revenues of $17.404 billion, up 10.3 percent on a reported basis and 10.5 percent on an operational basis. The reported growth was concentrated in immunology and neuroscience. Immunology portfolio revenue was $9.165 billion, up 16.3 percent, as Skyrizi generated $5.776 billion and Rinvoq generated $2.706 billion. These gains occurred alongside a 31.2 percent reported decline in Humira revenue to $683 million.
Neuroscience revenue was $3.389 billion, up 19.4 percent on a reported basis. Vraylar revenue was $1.068 billion, Botox Therapeutic revenue was $1.080 billion, Ubrelvy revenue was $449 million, Qulipta revenue was $398 million and Vyalev revenue was $286 million. Oncology was comparatively flat at $1.696 billion, up 0.8 percent, with Venclexta and Elahere growth offsetting a 26.1 percent decrease in Imbruvica. Aesthetics revenue declined 1.4 percent to $1.176 billion, as Botox Cosmetic growth did not offset a Juvederm Collection decline.
GAAP profitability improved materially from the prior-year quarter. Operating earnings were $6,267 million versus $1,904 million, net earnings attributable to AbbVie Inc. were $4,218 million versus $186 million, and GAAP diluted EPS was $2.37 versus $0.10. Adjusted diluted EPS was $3.82 versus $1.86. Third-quarter GAAP gross margin was 75.4 percent and adjusted gross margin was 85.1 percent, while GAAP operating margin was 36.0 percent and adjusted operating margin was 48.7 percent.
The quarter included $216 million of acquired IPR&D and milestones expense, representing an unfavorable impact of $0.11 to both diluted EPS and adjusted diluted EPS. The reconciliation also identifies $1,669 million of intangible asset amortization, $408 million of acquisition and integration costs, and $829 million from change in fair value of contingent consideration among third-quarter specified items. Acquisition and integration costs primarily reflected the Apogee Therapeutics acquisition.
Management raised full-year 2026 adjusted diluted EPS guidance to $13.95 - $13.99 from $13.76 - $13.96. The new range includes an unfavorable impact of $0.69 per share from acquired IPR&D and milestones expense incurred year-to-date through the third quarter. AbbVie also increased its quarterly cash dividend from $1.73 per share to $1.82 per share beginning with the dividend payable on February 16, 2027. The filing does not provide revenue, margin, expense or tax-rate guidance.
Management, verbatim
AbbVie continues to deliver outstanding results, reflecting solid execution across our diverse portfolio. We also enhanced our long-term growth potential by securing key regulatory approvals, generating differentiated clinical data and completing the acquisition of Apogee Therapeutics. Given our strong outlook and significant momentum, we are once again increasing AbbVie's full-year guidance and raising our quarterly dividend.
Robert A. Michael, chairman and chief executive officer, AbbVie
Not in the filing
stated, not guessed- Prior-quarter comparisons for third-quarter revenue, product revenue, earnings, margins and EPS.
- Third-quarter operating cash flow.
- Third-quarter free cash flow.
- Cash balance.
- Debt balance.
- Share repurchases.
- Full-year 2026 revenue guidance.
- Full-year 2026 gross margin guidance.
- Full-year 2026 operating expense guidance.
- Full-year 2026 tax-rate guidance.
- Prior outlook document for formal actual-versus-prior-guidance comparison.
Written by an AI language model from the company’s SEC earnings filing (Form 8-K Item 2.02, or Form 6-K for a foreign private issuer). Every figure was checked against the filing text, and a metric whose value, prior period and change do not add up is dropped from the metrics. The model can still misread a table, in the metrics or in the text, so check a number in the filing before you rely on it. Consensus estimates, price targets and share-price reactions are not shown because they are not in the filing. AI-generated research, not investment advice.