Key Highlights

  • Net revenues were USD 17.404 billion, up 10.3% as reported, with adjusted diluted EPS of USD 3.82 for the quarter.
  • Immunology Revenue rose 16.3% to USD 9.165 billion, with Skyrizi at USD 5.776 billion and Rinvoq near USD 2.7 billion.
  • Full-year adjusted EPS guidance rose to USD 13.95 to USD 13.99, including USD 0.69 of acquired IPR&D expense.
  • The board lifted the quarterly Dividend 5.2% to USD 1.82 per share, payable from February 2027.

Immunology and Neuroscience Drive Revenue Growth

AbbVie (NYSE:ABBV) reported third-quarter 2026 net revenues of USD 17.404 billion, an increase of 10.3% as reported and 10.5% at constant currency. GAAP diluted EPS was USD 2.37 and adjusted diluted EPS was USD 3.82, each more than double the prior-year figure, with an unfavorable USD 0.11 per share effect from acquired IPR&D and milestones expense.

Immunology revenue rose 16.3% to USD 9.165 billion. Skyrizi grew 22.7% to USD 5.776 billion and Rinvoq grew 23.9% to USD 2.706 billion, while Humira fell 31.2% to USD 683 million. Neuroscience revenue rose 19.4% to USD 3.389 billion, with Vraylar at USD 1.068 billion, Botox Therapeutic at USD 1.080 billion and Vyalev at USD 286 million.

Oncology and Aesthetics Trail the Growth Franchises

Oncology revenue edged up 0.8% to USD 1.696 billion. Venclexta rose 10.7% to USD 803 million and Elahere rose 31.0% to USD 224 million, while Imbruvica fell 26.1% to USD 522 million. Aesthetics revenue declined 1.4% to USD 1.176 billion, with Juvederm down 11.9% and Botox Cosmetic up 4.9%.

The adjusted gross Margin ratio was 85.1% and the adjusted Operating Margin ratio was 48.7%, against a GAAP operating margin ratio of 36.0%. Adjusted SG&A was 21.2% of revenues and adjusted R&D was 13.9%. Management said adjusted EPS landed USD 0.07 above the midpoint of its quarterly guidance.

Guidance Raised and Pipeline Additions

AbbVie raised its 2026 adjusted diluted EPS guidance from a range of USD 13.76 to USD 13.96 to USD 13.95 to USD 13.99, a range that excludes any acquired IPR&D expense incurred after the third quarter. The company now projects full-year net revenues of roughly USD 67.8 billion, up USD 200 million, including Skyrizi at USD 21.8 billion and Rinvoq at USD 10.3 billion. Fourth-quarter guidance calls for revenues of about USD 18.4 billion and adjusted EPS of USD 3.83 to USD 3.87.

Chairman and chief executive Robert Michael cited the completed Acquisition of Apogee Therapeutics, FDA approval of subcutaneous induction for Skyrizi in Crohn's disease and positive Phase 3 INTREPID results for lutikizumab in hidradenitis suppurativa. Regulatory submissions for lutikizumab are planned for the second half of 2027.

Metrics to Track Into 2027

The board raised the quarterly dividend from USD 1.73 to USD 1.82 per share, payable February 16, 2027 to holders of record on January 15, 2027. AbbVie ended September with USD 10.8 billion in cash after generating roughly USD 14 billion of free Cash Flow in the first nine months.

Management is scheduled to provide 2027 guidance on the fourth-quarter call and noted that the Inflation Reduction Act price for Vraylar begins in 2027. Items to track include the Skyrizi and Rinvoq trajectory and pending U.S. approvals of Rinvoq in vitiligo and alopecia areata.