I wrote about $ABBV back in July for the Buy the Dip competition. AbbVie reported their 3rd Quarter results on Friday, so I thought it would be a good time to check back in!

In earnings, I look for a few things:

AbbVie reported an increase in revenue, both over the quarter vs 3Q21 and over the year vs 9M21. Revenues increased 3.3% QoQ and 3.9% YoY.

The majority of revenue growth is continuing to be driven by the Immunology product line with products Humira, Skyrizi and Rinvoq. More than 50% of AbbVie revenue comes from this unit, and it continues to grow at nearly a 15% clip QoQ.

AbbVie reported an increase in earnings, both over the quarter vs 3Q21 and over the year vs 9M21. Revenues increased 24.3% QoQ and 24.8% YoY.

We reviewed above that revenues are growing, so it is also critical to see if expenses are being managed and a company is maximizing that revenue and translating it to earnings growth that can be delivered to shareholders.

A few things that stick out to me:

Management confirmed and tightened its annual EPS guidance from $13.76 - $13.96 to $13.84 - $13.88. As an investor, I like to see that management is hitting, and confirming their targets.

Additionally, AbbVie announced a 5% dividend increase from $1.41 to $1.48 beginning on the pay date of February 15, 2023 (Ex-Div date of 1/13/2023).

Overall, AbbVie appears to be continuing to operate like a cash printing machine. Seeing top products continue to grow, revenue growth outpacing operational cost growth, and confirming EPS estimates are solid confirmations as an investor.

I would have liked to see a slightly larger dividend increase, but I can't complain about an increase.

What are your thoughts on $ABBV? How do other shareholders feel about these results?