$ABBV · AbbVie Inc.
AbbVie reported Q3 2026 results with net revenues of $17.404B (+10.3% YoY), GAAP diluted EPS of $2.37, and adjusted diluted EPS of $3.82. Operating earnings on a GAAP basis jumped to $6.267B from $1.904B in Q3 2025, driven by immunology portfolio strength and a sharp drop in acquired IPR&D expense ($216M vs. $2.680B). The company raised FY2026 adjusted EPS guidance to $13.95–$13.99 and announced a 5.2% dividend increase for 2027.
- Q3 net revenues of $17.404B, up 10.3% reported (10.5% operational) vs. $15.776B in Q3 2025.
- Immunology portfolio hit $9.165B (+16.3%), led by Skyrizi at $5.776B (+22.7%) and Rinvoq at $2.706B (+23.9%).
- GAAP operating earnings surged to $6.267B from $1.904B a year ago; adjusted operating margin reached 48.7%.
- FY2026 adjusted diluted EPS guidance raised to $13.95–$13.99 from prior $13.76–$13.96.
- 2027 quarterly dividend increased 5.2%, payable February 2027; completed Apogee Therapeutics acquisition.
Extended-hours trading shows ABBV at $290.70, down 0.09% from the regular close of $290.97, suggesting a muted initial reaction despite the strong beat and guidance raise. The $514B market cap limits percentage moves on earnings.
AbbVie's immunology portfolio is firing on all cylinders — Skyrizi and Rinvoq combined for $8.48B in quarterly revenue — while the Apogee acquisition and pipeline readouts extend the growth runway well beyond Humira.
AbbVie's immunology franchise (Skyrizi + Rinvoq) is now a ~$8.5B quarterly juggernaut, more than offsetting Humira's biosimilar erosion and distancing peers in the inflammatory disease space. The Apogee acquisition adds late-stage IL-13 and IL-13/TSLP assets.
Humira erosion continues with global revenues down 31.2% to $683M; Imbruvica declined 26.1% to $522M. Acquired IPR&D and milestones expense of $0.69 per share YTD is a drag on adjusted results.