ABBV · Earnings call · 2026Q3T · Full report
Guidance / Outlook
AbbVie Inc. · 2026-10-30 · Importance 80 · Surprise 68 · In source text
AbbVie raised its 2026 adjusted EPS guidance by $0.11 at the midpoint to $13.95–$13.99 and increased expected total net revenue by $200 million to approximately $67.8 billion. Management expects 2026 immunology revenue of $34.9 billion, neuroscience revenue of $13 billion, oncology revenue of $6.6 billion and aesthetics revenue of $5 billion; it forecasts an adjusted operating margin of approximately 46.7%. Fourth-quarter revenue is expected to be approximately $18.4 billion, with adjusted EPS of $3.83–$3.87. CEO Rob Michael said formal 2027 guidance will be provided on the Q4 call and expects top-tier growth again next year, while noting the 2027 IRA price for Vraylar should be modeled.
Key facts
- AbbVie expects its Parkinson's therapies, including Vyalev and Duopa, to collectively deliver peak sales of more than $5 billion.
- AbbVie expects 2026 total net revenues of approximately $67.8 billion, an increase of $200 million.
- AbbVie increased its 2026 global immunology sales outlook to $34.9 billion, assuming Skyrizi revenue of $21.8 billion and Rinvoq revenue of $10.3 billion.
- AbbVie forecast 2026 adjusted gross margin above 84% of sales, adjusted R&D expense of approximately $9.8 billion and adjusted SG&A expense of approximately $14.5 billion.
- AbbVie expects 2026 adjusted operating margin of approximately 46.7% of sales, including an approximately 1.8% unfavorable impact from acquired IPR&D expense incurred through the third quarter.
- AbbVie expects 2026 global neuroscience revenues of $13 billion, up $300 million, including Vraylar sales of $4.2 billion, Botox Therapeutic sales of $4.2 billion and total oral CGRP sales of $3.1 billion.
- AbbVie expects fourth-quarter 2026 net revenues of approximately $18.4 billion, including a modestly unfavorable foreign-exchange impact.
- AbbVie expects Vyalev revenue to exceed $1 billion in 2026.
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| revenue | positive | committed | +4.0% | AbbVie raised full-year revenue guidance by $200 million and has raised total revenue guidance by $800 million since the start of 2026. |
| margin | negative | realized | -1.8% | AbbVie expects 2026 adjusted operating margin of approximately 46.7% of sales, including an approximately 1.8% unfavorable impact from… |
| revenue | positive | committed | +1.5% | AbbVie expects 2026 global neuroscience revenues of $13 billion, up $300 million, including Vraylar sales of $4.2 billion, Botox… |
| revenue | positive | committed | — | AbbVie increased its 2026 global immunology sales outlook to $34.9 billion, assuming Skyrizi revenue of $21.8 billion and Rinvoq revenue… |
| revenue | positive | committed | — | AbbVie raised 2026 global oncology sales guidance to $6.6 billion, including expected Venclexta sales of $3.1 billion and Imbruvica sales… |