SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549
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|Regulation FD Disclosure
On February 17, 2022, Abbott initiated a proactive, voluntary recall of Similac-brand powder infant formulas manufactured in Sturgis, Michigan. The recall primarily involves product distributed in the U.S. and Canada. Abbott is confirming its previously issued full-year 2022 guidance for adjusted diluted earnings per share from continuing operations of at least $4.70. Abbott will incur a one-time specified item in the first quarter 2022 for recall related expenses, including inventory destruction and other recall expenses. These expenses have not yet been quantified. However, Abbott does not expect that these expenses will have a material impact on Abbott’s consolidated financial statements. Abbott has issued a press release informing consumers.
The information contained in this Item 7.01 shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, or incorporated by reference in any filing under the Securities Act of 1933 or the Securities Exchange Act of 1934, except as shall be expressly set forth by specific reference in any such filing.
— Private Securities Litigation Reform Act of 1995 —
A Caution Concerning Forward-Looking Statements
Some statements in this Current Report may be forward-looking statements for purposes of the Private Securities Litigation Reform Act of 1995. Abbott cautions that these forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those indicated in the forward-looking statements. Economic, competitive, governmental, technological and other factors that may affect Abbott's operations are discussed in Item 1A, "Risk Factors" in our Annual Report on Form 10-K for the year ended Dec. 31, 2020, and are incorporated herein by reference. Abbott undertakes no obligation to release publicly any revisions to forward-looking statements as a result of subsequent events or developments, except as required by law.
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
|Date: February 18, 2022
|/s/ Robert E. Funck, Jr.
|Robert E. Funck, Jr.
|Executive Vice President, Finance and Chief Financial Officer