Analyst Consensus ?
ConsensusBuy44 ratings
Bullish3170.4%
Neutral1227.3%
Bearish12.3%
AbbVie Inc. · ABBV · FY2026 Q1 · Calendar Q2 2026
AbbVie Beats Q1 Estimates on Skyrizi-Rinvoq Strength, Raises Full-Year EPS Guidance
AbbVie's Q1 FY2026 results reinforce the post-Humira transition thesis: Skyrizi and Rinvoq are delivering double-digit growth and gaining market share across psoriatic disease, IBD, and emerging dermatology indications, more than offsetting ongoing biosimilar erosion of Humira. With a raised full-year adjusted EPS guidance range of $14.08-$14.28, a deep pipeline spanning obesity (ABBV-295), oncology (Temab-A, PD-1/VEGF bispecifics), and neuroscience (tavapadon, VYALEV), and significant manufacturing capacity investments, management signaled confidence in sustained growth. The stock's +3.1% earnings-day move and +7.2% subsequent drift suggest the market is endorsing the beat-and-raise narrative.
Reported Before market openNYSEHealthcare
$453.92B market cap
90quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$2.65
Consensus $2.59
EPS surprise
+2.3%
Reported versus consensus
Reported revenue
$15.00B
Consensus $14.72B
Revenue surprise
+1.9%
Reported versus consensus
Market reaction
prior-close to event-session close
Stock move
+3.1%
Event window
SPY move
-0.0%
Same window
Abnormal move
+3.2%
Stock minus SPY
Volume
1.6×
Versus trailing sessions
Subsequent drift
+7.2%
Up to 20 sessions
ABBVSPY benchmark
Ask FN2 about ABBV FY2026 Q1
Transcript, numbers and history already loaded
Why did ABBV rise 3.1% after beating EPS estimates in FY2026 Q1?What changed in ABBV's guidance and outlook in FY2026 Q1?Give me the bull and bear case for ABBV after FY2026 Q1 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
Several developments were new or incremental this quarter. AbbVie announced a $1.4 billion manufacturing campus in North Carolina and a $380 million investment in two new plants in North Chicago, materially expanding production capacity for high-growth therapeutic areas. Early-stage data for the long-acting amylin analog ABBV-295 showed approximately 10% weight loss in a 12-week study. The company closed the Remagen agreement, adding a PD-1/VEGF bispecific antibody to its oncology pipeline. Full-year EPS guidance was raised, and the capex outlook moved higher to reflect the new manufacturing commitments.
Guidance delta
Full-year adjusted EPS guidance was raised to $14.08-$14.28. Management's guidance sentiment was characterized as raised, and the capex outlook is increasing, reflecting the $1.4B North Carolina and $380M North Chicago manufacturing investments. Specific prior guidance levels were not available in the supplied transcript analysis for a precise before-after comparison.
Key takeaways
- Q1 net revenue of $15.0B grew 12.4% year-over-year with adjusted EPS of $2.65, beating consensus estimates of $2.59 EPS and $14.72B revenue.
- Immunology led growth as Skyrizi and Rinvoq delivered double-digit sales increases and gained market share in psoriatic disease, IBD, and emerging dermatology indications.
- Full-year adjusted EPS guidance was raised to $14.08-$14.28, reflecting confidence in the revenue trajectory.
- Pipeline milestones included early ABBV-295 obesity data (~10% weight loss in 12 weeks), Phase III Temab-A readouts expected at ASCO, and the closing of the Remagen PD-1/VEGF bispecific agreement.
- AbbVie announced $1.4B for a North Carolina manufacturing campus and $380M for North Chicago plants, signaling long-term capacity investment in high-growth therapeutic areas.
Management priorities
- Sustain Skyrizi and Rinvoq market share gains and label expansions, including subcutaneous induction for Crohn's disease with a U.S. regulatory decision expected later in 2026.
- Advance the obesity pipeline with ABBV-295 toward further clinical development and regulatory filing.
- Launch tavapadon for Parkinson's disease later in 2026.
- Execute oncology combination programs, including Temab-A Phase III readouts in head-and-neck and ovarian cancers at ASCO.
- Build out manufacturing capacity with new campuses in North Carolina and Illinois.
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Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$286.74Current
$127Low
$219.61Average
$325High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Oct 27, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| Goldman Sachs | Neutral | Neutral | Maintain | Oct 23, 2026 |
| Barclays | Overweight | Overweight | Maintain | Oct 21, 2026 |
| RBC Capital | Outperform | Outperform | Maintain | Oct 13, 2026 |
| UBS | Neutral | Neutral | Maintain | Oct 9, 2026 |
| Guggenheim | Buy | Buy | Maintain | Oct 9, 2026 |
| JP Morgan | Overweight | Overweight | Maintain | Oct 8, 2026 |
| Cantor Fitzgerald | Overweight | Overweight | Maintain | Oct 8, 2026 |
| Morgan Stanley | Overweight | Overweight | Maintain | Oct 7, 2026 |
| Scotiabank | Sector Outperform | Sector Outperform | Maintain | Oct 6, 2026 |
| HSBC | Buy | Buy | Maintain | Sep 10, 2026 |
| Piper Sandler | Overweight | Overweight | Maintain | Aug 20, 2026 |
| Wells Fargo | Overweight | Overweight | Maintain | Aug 17, 2026 |
| Wolfe Research | Outperform | Peer Perform | Upgrade | Aug 13, 2026 |
| BNP Paribas | Neutral | Neutral | Maintain | Aug 11, 2026 |
| Evercore ISI Group | Outperform | Outperform | Maintain | Aug 10, 2026 |
| Berenberg | Buy | Buy | Maintain | Aug 6, 2026 |
| Erste Group | Buy | Hold | Upgrade | Aug 5, 2026 |
| Canaccord Genuity | Buy | Buy | Maintain | Aug 3, 2026 |
| William Blair | Buy | Buy | Maintain | Jul 31, 2026 |
| TD Cowen | Buy | Buy | Maintain | Jul 31, 2026 |
| Citigroup | Neutral | Neutral | Maintain | Jul 15, 2026 |
| BMO Capital | Outperform | Outperform | Maintain | Jul 13, 2026 |
| B of A Securities | Buy | Buy | Maintain | Jul 10, 2026 |
| Freedom Broker | Buy | Buy | Maintain | Feb 17, 2026 |
| Raymond James | Outperform | Outperform | Maintain | Oct 17, 2025 |
| Truist Securities | Buy | Buy | Maintain | Feb 3, 2025 |
| Leerink Partners | Outperform | Market Perform | Upgrade | Nov 22, 2024 |
| Argus Research | Buy | Hold | Upgrade | Nov 4, 2024 |
| CFRA | Hold | Buy | Downgrade | Mar 29, 2023 |
| SVB Leerink | Market Perform | Underperform | Upgrade | Feb 10, 2023 |
| Atlantic Equities | Neutral | Neutral | Maintain | Feb 10, 2023 |
| Societe Generale | Hold | Buy | Downgrade | Nov 8, 2022 |
| Mizuho | Buy | Buy | Maintain | Feb 4, 2022 |
| Bernstein | Outperform | Outperform | Maintain | Jan 3, 2022 |
| Cowen & Co. | Outperform | Outperform | Maintain | Feb 18, 2020 |
| Citi | Buy | Buy | Maintain | Nov 20, 2019 |
| Piper Jaffray | Overweight | Overweight | Maintain | Sep 4, 2019 |
| Bank of America | Neutral | Buy | Downgrade | Jan 3, 2019 |
| Argus | Buy | Buy | Maintain | Nov 6, 2018 |
| PiperJaffray | Neutral | Overweight | Downgrade | Jun 1, 2018 |
| Credit Suisse | Underperform | Neutral | Downgrade | May 30, 2018 |
| Leerink Swann | Market Perform | Outperform | Downgrade | Jan 29, 2018 |
| Jefferies | Buy | Buy | Maintain | Sep 15, 2017 |
| Deutsche Bank | Hold | Hold | Maintain | Jul 17, 2017 |
Named analyst price targets
Upside is calculated against the persisted current price $286.74. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Goldman Sachs | Analyst unavailable | $294 | $284.89 | +2.5% | Oct 23, 2026 |
| Barclays | Analyst unavailable | $325 | $289 | +13.3% | Oct 21, 2026 |
| Cantor Fitzgerald | Carter Gould | $290 | $271.36 | +1.1% | Oct 8, 2026 |
| Morgan Stanley | Analyst unavailable | $310 | $271.89 | +8.1% | Oct 7, 2026 |
| Scotiabank | Louise Chen | $320 | $265.21 | +11.6% | Oct 6, 2026 |
| HSBC | Rajesh Kumar | $315 | $250.98 | +9.9% | Sep 10, 2026 |
| Piper Sandler | Analyst unavailable | $303 | $265.97 | +5.7% | Aug 20, 2026 |
| Wells Fargo | Analyst unavailable | $300 | $249.45 | +4.6% | Aug 17, 2026 |
| Wolfe Research | Alexandria Hammond | $300 | $248.66 | +4.6% | Aug 13, 2026 |
| Guggenheim | Analyst unavailable | $288 | $245.08 | +0.4% | Aug 4, 2026 |
| Morgan Stanley | Analyst unavailable | $296 | $246.26 | +3.2% | Aug 3, 2026 |
| Canaccord Genuity | Gary Nachman | $290 | $250.88 | +1.1% | Aug 3, 2026 |
| Barclays | Analyst unavailable | $300 | $263.48 | +4.6% | Jul 29, 2026 |
| Canaccord Genuity | Analyst unavailable | $282 | $256.15 | -1.7% | Jul 22, 2026 |
| UBS | Analyst unavailable | $260 | $247.05 | -9.3% | Jul 13, 2026 |
| BMO Capital | Analyst unavailable | $300 | $246.69 | +4.6% | Jul 13, 2026 |
| RBC Capital | Trung Huynh | $280 | $246.8 | -2.4% | Jul 10, 2026 |
| Wells Fargo | Analyst unavailable | $295 | $249.91 | +2.9% | Jul 10, 2026 |
| Guggenheim | Analyst unavailable | $261 | $252.61 | -9.0% | Jul 9, 2026 |
| HSBC | Analyst unavailable | $300 | $255.17 | +4.6% | Jul 6, 2026 |
| Cantor Fitzgerald | Analyst unavailable | $265 | $261.07 | -7.6% | Jul 6, 2026 |
| Canaccord Genuity | Analyst unavailable | $273 | $230.06 | -4.8% | Jun 23, 2026 |
| Wells Fargo | Analyst unavailable | $260 | $216.63 | -9.3% | Jun 22, 2026 |
| Evercore ISI | Analyst unavailable | $235 | $212.04 | -18.0% | May 15, 2026 |
| Piper Sandler | Analyst unavailable | $298 | $208.5 | +3.9% | May 14, 2026 |
| Morgan Stanley | Analyst unavailable | $278 | $212.14 | -3.0% | Apr 30, 2026 |
| Piper Sandler | Analyst unavailable | $294 | $200.49 | +2.5% | Apr 23, 2026 |
| Canaccord Genuity | Analyst unavailable | $262 | $203.71 | -8.6% | Apr 20, 2026 |
| Guggenheim | Vamil Divan | $249 | $210.15 | -13.2% | Apr 10, 2026 |
| Cantor Fitzgerald | Analyst unavailable | $240 | $211.59 | -16.3% | Apr 8, 2026 |
| RBC Capital | Trung Huynh | $260 | $228.44 | -9.3% | Feb 24, 2026 |
| Barclays | Analyst unavailable | $275 | $224.35 | -4.1% | Feb 19, 2026 |
| Piper Sandler | Analyst unavailable | $299 | $232.86 | +4.3% | Feb 18, 2026 |
| UBS | Analyst unavailable | $230 | $217.42 | -19.8% | Feb 5, 2026 |
| Evercore ISI | Gavin Clark-Gartner | $228 | $217.02 | -20.5% | Feb 4, 2026 |
| Goldman Sachs | Asad Haider | $223 | $219.77 | -22.2% | Jan 28, 2026 |
| Berenberg Bank | Analyst unavailable | $275 | $214.35 | -4.1% | Jan 20, 2026 |
| BMO Capital | Evan David Seigerman | $258 | $217.74 | -10.0% | Jan 15, 2026 |
| UBS | Analyst unavailable | $240 | $223.93 | -16.3% | Jan 7, 2026 |
| Morgan Stanley | Analyst unavailable | $269 | $222.48 | -6.2% | Dec 12, 2025 |
| HSBC | Analyst unavailable | $265 | $222.99 | -7.6% | Dec 10, 2025 |
| Piper Sandler | David Amsellem | $289 | $213.57 | +0.8% | Nov 5, 2025 |
| Raymond James | Gary Nachman | $256 | $218.04 | -10.7% | Nov 3, 2025 |
| Guggenheim | Analyst unavailable | $242 | $229.57 | -15.6% | Oct 20, 2025 |
| Raymond James | Gary Nachman | $250 | $226.87 | -12.8% | Oct 17, 2025 |
| Piper Sandler | Analyst unavailable | $284 | $230.69 | -1.0% | Oct 10, 2025 |
| Cantor Fitzgerald | Analyst unavailable | $250 | $231.24 | -12.8% | Oct 9, 2025 |
| UBS | Analyst unavailable | $251 | $236.56 | -12.5% | Oct 3, 2025 |
| HSBC | Analyst unavailable | $225 | $244.38 | -21.5% | Oct 2, 2025 |
| Cantor Fitzgerald | Carter Gould | $245 | $218.34 | -14.6% | Sep 15, 2025 |
| Raymond James | Gary Nachman | $220 | $190.14 | -23.3% | Feb 3, 2025 |
| BMO Capital | Evan Seigerman | $215 | $190.14 | -25.0% | Feb 3, 2025 |
| BMO Capital | Evan David Seigerman | $208 | $201.61 | -27.5% | Nov 12, 2024 |
| BMO Capital | Evan David Seigerman | $228 | $201.5 | -20.5% | Oct 31, 2024 |
| Bank of America Securities | Charlie Yang | $210 | $201.5 | -26.8% | Oct 31, 2024 |
| Citigroup | Geoff Meacham | $226 | $201.5 | -21.2% | Oct 31, 2024 |
| Bank of America Securities | Geoff Meacham | $195 | $188.57 | -32.0% | Oct 18, 2024 |
| Bernstein | Courtney Breen | $203 | $190.46 | -29.2% | Oct 17, 2024 |
| Raymond James | Christopher Raymond | $209 | $197.35 | -27.1% | Aug 23, 2024 |
| BMO Capital | Evan Seigerman | $214 | $172.01 | -25.4% | Jul 19, 2024 |
| Raymond James | Christopher Raymond | $190 | $171.36 | -33.7% | Jun 18, 2024 |
| HSBC | Rajesh Kumar | $185 | $162.14 | -35.5% | Jun 5, 2024 |
| Deutsche Bank | James Shin | $175 | $156.96 | -39.0% | May 24, 2024 |
| Cantor Fitzgerald | Louise Chen | $200 | $164.35 | -30.3% | May 17, 2024 |
| BMO Capital | Evan Seigerman | $180 | $158.58 | -37.2% | Apr 29, 2024 |
| Barclays | Carter Gould | $195 | $179.79 | -32.0% | Mar 27, 2024 |
| William Blair | Tim Lugo | $190 | $163.91 | -33.7% | Jan 29, 2024 |
| Raymond James | Christopher Raymond | $170 | $142.03 | -40.7% | Nov 9, 2023 |
| Raymond James | Gary Nachman | $177 | $149.12 | -38.3% | Sep 29, 2023 |
| Guggenheim | Vamil Divan | $171 | $147.01 | -40.4% | May 9, 2023 |
| BMO Capital | Analyst unavailable | $167 | $145.49 | -41.8% | Feb 6, 2023 |
| Morgan Stanley | Analyst unavailable | $182 | $163.44 | -36.5% | Dec 6, 2022 |
| Credit Suisse | Analyst unavailable | $170 | $152.16 | -40.7% | Nov 18, 2022 |
| Leerink Partners | Analyst unavailable | $135 | $142.72 | -52.9% | Sep 30, 2022 |
| Argus Research | Analyst unavailable | $155 | $137.91 | -45.9% | Aug 24, 2022 |
| Barclays | Analyst unavailable | $160 | $143.51 | -44.2% | Aug 1, 2022 |
| Morgan Stanley | Terence Flynn | $191 | $152.15 | -33.4% | Jul 14, 2022 |
| Leerink Partners | David Risinger | $140 | $148.03 | -51.2% | May 24, 2022 |
| Berenberg Bank | Luisa Hector | $135 | $151.01 | -52.9% | May 22, 2022 |
| Morgan Stanley | Terence Flynn | $188 | $147.87 | -34.4% | May 3, 2022 |
| Wells Fargo | Analyst unavailable | $200 | $146.88 | -30.3% | May 2, 2022 |
| BMO Capital | Gary Nachman | $174 | $157.72 | -39.3% | Apr 26, 2022 |
| Barclays | Carter Gould | $174 | $162.31 | -39.3% | Apr 16, 2022 |
| Morgan Stanley | Terence Flynn | $192 | $168.91 | -33.0% | Apr 6, 2022 |
| UBS | Navin Jacob | $147 | $150.56 | -48.7% | Mar 5, 2022 |
| Truist Financial | Robyn Karnauskas | $160 | $144.03 | -44.2% | Feb 21, 2022 |
| Mizuho Securities | Vamil Divan | $166 | $140.65 | -42.1% | Feb 6, 2022 |
| J.P. Morgan | Chris Schott | $180 | $140.73 | -37.2% | Feb 3, 2022 |
| Barclays | Carter Gould | $150 | $140.73 | -47.7% | Feb 3, 2022 |
| Piper Sandler | Christopher Raymond | $160 | $138.62 | -44.2% | Feb 2, 2022 |
| Evercore ISI | Joshua Schimmer | $133 | $137 | -53.6% | Feb 1, 2022 |
| Citigroup | Andrew Baum | $155 | $137.92 | -45.9% | Jan 29, 2022 |
| BMO Capital | Gary Nachman | $153 | $136.78 | -46.6% | Jan 18, 2022 |
| Cowen & Co. | Steve Scala | $150 | $136.78 | -47.7% | Jan 18, 2022 |
| Bernstein | Aaron Gal | $155 | $134.03 | -45.9% | Jan 3, 2022 |
| Wells Fargo | Mohit Bansal | $165 | $120.62 | -42.5% | Dec 8, 2021 |
| Societe Generale | Justin Smith | $172 | $117.66 | -40.0% | Nov 23, 2021 |
| Argus Research | David Toung | $140 | $112.57 | -51.2% | Aug 5, 2021 |
| RBC Capital | Daniel Busby | $135 | $112.9 | -52.9% | Aug 1, 2021 |
| Wolfe Research | Tim Anderson | $127 | $110.91 | -55.7% | May 3, 2021 |
Track every rating change on ABBV the moment it posts. Free to start.
Start freeCompany context
Snapshot as of publicationAbbVie Inc. is a global biopharmaceutical company dedicated to the discovery, development, manufacturing, and commercialization of advanced medicines. Its extensive therapeutic portfolio encompasses several key areas: Immunology and Inflammation: Leading products include HUMIRA, an injectable therapy for autoimmune and intestinal Behçet's diseases; SKYRIZI, which addresses moderate to severe plaque psoriasis in adults; and RINVOQ, a JAK inhibitor for moderate to severe active rheumatoid arthritis in adult patients. Oncology and Hematology: For blood cancers, AbbVie provides IMBRUVICA and VENCLEXTA (a BCL-2 inhibitor), both indicated for adult patients with chronic lymphocytic leukemia (CLL) and small lymphocytic lymphoma (SLL). Virology: MAVYRET offers a treatment option for individuals with chronic HCV genotype 1-6 infection. Gastroenterology and Endocrinology: The company supplies CREON, an enzyme replacement therapy for exocrine pancreatic insufficiency, and Synthroid, used to manage hypothyroidism.…
Historical context
All ABBV earningsHealthcare peers this season
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| RDY Dr. Reddy's Laboratories Limited | FY2027 Q2 · Calendar Q4 2026 | +24.0% | -0.2% | Dr. Reddy’s: margins improve as semaglutide rollout advances |
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| ARGX argenx SE | FY2026 Q3 · Calendar Q4 2026 | — | -1.6% | argenx: VYVGART momentum and a broader late-stage pipeline |
| MEDP Medpace Holdings, Inc. | FY2026 Q3 · Calendar Q4 2026 | +9.0% | -1.3% | Medpace: Record awards lift backlog as 2026 outlook improves |
| MOH Molina Healthcare, Inc. | FY2026 Q3 · Calendar Q4 2026 | +12.7% | +0.8% | Molina reaffirms 2026 outlook as Florida contract scales |
Latest beats and misses
Who reports nextBeat on EPS
- BAHFY2027 Q2 · October 23, 2026+18.9% EPS-0.3% move
- FCNCAFY2026 Q3 · October 23, 2026+19.9% EPS+8.2% move
- FCNCNFY2026 Q3 · October 23, 2026+19.9% EPS+0.2% move
- FCNCOFY2026 Q3 · October 23, 2026+19.9% EPS+1.0% move
- FCNCPFY2026 Q3 · October 23, 2026+19.9% EPS+1.0% move
- RDYFY2027 Q2 · October 23, 2026+24.0% EPS-0.2% move
Missed on EPS
- INFYFY2027 Q2 · October 23, 2026-4.8% EPS-6.6% move
- BBDFY2026 Q3 · October 22, 2026-7.7% EPS+3.0% move
- SNAFY2026 Q3 · October 22, 2026-5.9% EPS-3.4% move
- SPOTFY2026 Q3 · October 22, 2026-11.6% EPS+11.1% move
- VRSNFY2026 Q3 · October 22, 2026-2.0% EPS-0.9% move
- HBANMFY2026 Q3 · October 22, 2026-5.3% EPS+0.5% move
Get the ABBV recap when the next report posts
One email per quarter with the scorecard, the market reaction and what changed on the call. No account needed.
Sources
- Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
- FN2 earnings calendar · 2026-07-26T00:37:12.209961+00:00
- Polygon adjusted daily market bars · 2026-07-28T07:21:27.729119+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-07-28T07:21:27.725208+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-07-28. For educational purposes only; not investment advice.