TLDR
- AbbVie delivered Q1 adjusted EPS of $2.65, surpassing the analyst consensus of $2.59
- Quarterly revenue reached $15 billion, climbing 12% year-over-year and exceeding expectations of $14.72 billion
- Immunology segment expanded 16%, while neuroscience surged 26% during the period
- Company elevated full-year 2026 adjusted EPS guidance to $14.08–$14.28, up from the previous $13.96–$14.16 range
- ABBV shares advanced 2.5% in premarket activity, clawing back a portion of the 13% year-to-date loss
AbbVie entered Wednesday’s quarterly report carrying a 13% year-to-date loss. The pharmaceutical company exited with results that gave shareholders a reason for optimism.
The company posted first-quarter adjusted earnings of $2.65 per share, climbing from $2.46 in the year-ago period and surpassing the $2.59 Wall Street consensus. Revenue totaled $15 billion, marking a 12% year-over-year increase and beating analyst projections of $14.72 billion.
ABBV shares climbed 2.5% to $202.63 in premarket trading after the announcement.
Two therapeutic segments powered the revenue outperformance. Immunology revenue expanded 16%, while neuroscience delivered an even more impressive 26% gain.
Skyrizi and Rinvoq remained the primary growth drivers in immunology. Skyrizi, prescribed for arthritis and Crohn’s disease, saw revenue climb 31% during the quarter. Rinvoq contributed with 23% growth.
These gains more than compensated for a 39% revenue drop from Humira. The former flagship drug faces increasing competition from biosimilar alternatives, resulting in a declining share of the overall portfolio.
Guidance Gets a Lift
AbbVie elevated its full-year 2026 adjusted EPS forecast to $14.08 to $14.28, improving from the earlier range of $13.96 to $14.16. The Street’s current consensus stands at $14.12, placing the midpoint of the updated range marginally above expectations.
The guidance increase demonstrates management’s optimism about sustained performance from its immunology and neuroscience portfolios.
On a GAAP basis, quarterly net income totaled $695 million, or $0.39 per share. This compares with $1.29 billion, or $0.72 per share, recorded in the prior-year quarter. The year-over-year GAAP decrease reflects expenses excluded from adjusted calculations.
The Bigger Picture for ABBV
Shares faced headwinds leading up to this earnings release, trading down 13% year-to-date through Tuesday’s closing bell.
The 2.5% premarket rally indicates investors responded favorably to the earnings beat and upgraded outlook, although the stock faces a climb to reclaim lost ground.
Skyrizi and Rinvoq have emerged as the primary growth catalysts for AbbVie’s business model, with their combined strength more than balancing Humira’s continued decline.
Neuroscience is establishing itself as an increasingly important revenue stream. The 26% expansion rate in this division demonstrates meaningful progress beyond the flagship immunology business.
AbbVie’s adjusted EPS of $2.65 represented the second straight quarter of year-over-year improvement on this measure, with the prior-year result of $2.46 now serving as a historical comparison point.
The company’s updated guidance range of $14.08 to $14.28 in adjusted EPS establishes the full-year target that investors and analysts will track throughout the remainder of 2026.
