AbbVie Q2 Earnings Call Highlights

AbbVie exceeded Q2 expectations , reporting nearly $17 billion in revenue, up 10.2% year over year, and adjusted EPS of $3.65. The company raised its full-year revenue outlook by $300 million to approximately $67.6 billion. Growth was led by immunology and neuroscience, with SKYRIZI, RINVOQ and the neuroscience portfolio each delivering more than 20% growth. SKYRIZI’s full-year revenue forecast rose to $21.7 billion, while HUMIRA sales fell 36.1% due to biosimilar competition. AbbVie expects the Apogee Therapeutics acquisition to close in the third quarter, contributing expected EPS dilution and requiring new debt financing. The company also highlighted advancing Parkinson’s, oncology and aesthetics programs, though oncology and aesthetics revenue declined operationally. AbbVie NYSE: ABBV reported second-quarter 2026 results that exceeded its expectations, supported by double-digit growth in its immunology and neuroscience businesses, and raised its full-year revenue outlook by $300 million. Chairman and Chief Executive Officer Rob Michael said adjusted earnings per share totaled $3.65, or $0.06 above the midpoint of the company’s guidance. Net revenues were nearly $17 billion, exceeding AbbVie’s expectations by $300 million and increasing 10.2% year over year. Foreign exchange contributed a 0.7% favorable impact to quarterly revenue growth. “The performance of SKYRIZI, RINVOQ, and our neuroscience portfolio continues to be very strong, with each delivering growth above 20%,” Michael said. Chief Financial Officer Scott Reents said AbbVie now expects approximately $67.6 billion in full-year net revenue, reflecting a $300 million increase from its prior forecast and a roughly 0.5% favorable foreign-exchange impact on annual sales growth. The company has raised total revenue guidance by $600 million since the beginning of the year, according to Michael. AbbVie updated its full-year adjusted earnings outlook to a range of $13.87 to $14.07 per share. The revised projection includes a $0.10 improvement related to the existing business, offset by $0.14 of anticipated dilution from the planned acquisition of Apogee Therapeutics. The company expects the Apogee transaction to close in the third quarter. Reents said AbbVie has secured interim financing and expects to issue long-term debt in the coming months. The company remains committed to reaching a net leverage ratio of two times within two to three years after closing the deal. For the third quarter, AbbVie forecast net revenue of about $17.2 billion and adjusted earnings per share of $3.84 to $3.88. That outlook includes a projected 0.4% unfavorable currency impact and partial-quarter dilution related to the planned Apogee acquisition. SKYRIZI full-year revenue is expected to reach $21.7 billion, up $100 million from the prior outlook. Total neuroscience revenue is projected at $12.7 billion, also up $100 million, including VRAYLAR sales approaching $4.1 billion and BOTOX Therapeutic sales approaching $4.2 billion. The remaining $100 million of the revenue guidance increase reflects momentum from RINVOQ and VENCLEXTA. Chief Commercial Officer Jeff Stewart said immunology revenue totaled nearly $8.8 billion during the quarter, increasing 14.6% on an operational basis. SKYRIZI sales reached $5.5 billion, up 24% operationally, while RINVOQ sales exceeded $2.5 billion, increasing 23.7% operationally. SKYRIZI continued to gain share in psoriasis and in...