AbbVie Beats 2025 EPS, Forecasts 9.5% 2026 Revenue Growth as Evercore Cuts PT
AbbVie posted 2025 adjusted EPS of $10, beating guidance by $0.54, and drove 8.6% sales growth to $61.2B, topping forecasts by $2B. Evercore cut its price target to $228 from $232 despite Tremfya’s market share gains and AbbVie projects 9.5% revenue growth in 2026 led by Skyrizi and Rinvoq.
1. Full-Year 2025 Results
AbbVie reported adjusted EPS of $10 for 2025, exceeding the guidance midpoint by $0.54 excluding IPR&D expenses. Total net revenue rose 8.6% year-over-year to $61.2 billion, surpassing initial expectations by over $2 billion despite a significant U.S. Humira decline.
2. Evercore Price Target Adjustment
Evercore lowered its price target on AbbVie to $228 from $232 while maintaining an Outperform rating. The firm highlighted Tremfya’s expanding market share but cautioned that buy-side earnings projections have outpaced consensus estimates, potentially capping future earnings gains.
3. 2026 Revenue Outlook
AbbVie anticipates a 9.5% increase in overall revenues for 2026, driven by Skyrizi and Rinvoq, which are expected to generate combined sales exceeding $31 billion, surpassing prior long-term forecasts.
4. Pipeline Expansion and Strategic Deals
The company completed nearly $5 billion in business development deals and advanced about 90 clinical studies across immunology, oncology, neuroscience, and obesity. AbbVie increased adjusted R&D spending by nearly $1 billion and entered psychedelic-inspired mental health treatments with novel compounds like bretisilocin for major depressive disorder.