Shares of Abbott Laboratories (NYSE: ABT) fell more than 9% intra-day on Thursday after the company reported fourth-quarter earnings that met expectations but missed on revenue, alongside weaker-than-expected guidance for the first quarter.

Abbott posted adjusted earnings per share of $1.50 for the quarter, in line with analyst estimates. Revenue totaled $11.46 billion, below the consensus forecast of $11.8 billion. Total sales rose 4.4% on a reported basis and 3.0% organically. Excluding COVID-19 testing-related sales, organic growth was 3.8% compared with the prior-year quarter.

The stock declined further after Abbott projected first-quarter 2026 adjusted earnings per share of $1.12 to $1.18, below the analyst consensus of $1.20.

The Medical Devices segment delivered strong results, with revenue increasing 12.3% to $5.68 billion. Diabetes Care sales, including continuous glucose monitoring products, rose 14.5% to $2.13 billion.

Nutrition revenue declined 8.9% to $1.94 billion, reflecting lower volumes and strategic pricing actions aimed at driving future growth. Diagnostics revenue fell 2.5% to $2.46 billion due to reduced demand for COVID-19 testing.

For full-year 2026, Abbott forecast organic sales growth of 6.5% to 7.5% and adjusted earnings per share of $5.55 to $5.80, exceeding the analyst consensus of $5.17 and representing approximately 10% growth at the midpoint.