AbbVie Q2 IPR&D expenses to lower EPS by $0.52

AbbVie (NYSE:ABBV) said Wednesday it plans on reporting acquired IPR&D and milestone expenses of $937M on a pre-tax basis for Q2, which will reduce earnings per share on both a GAAP and non-GAAP basis by $0.52.

In an SEC filing, AbbVie said it now sees reporting Q2 adjusted EPS of $2.53 to $2.57. For 2024, the company expects to report adjusted EPS of $10.61 to $10.81.

Analysts were expecting AbbVie to report Q2 adjusted EPS of $3.06 and 2024 adjusted EPS of $11.25, on average.

AbbVie is slated to release its Q2 earnings report before market open on July 25.