Notably, the Nutrition segment was hit by the shutdown (initiated in February) of Sturgis, Michigan, facility, due to the contamination of certain infant formula products. The analyst noted that the sell-off following the results brought back Abbott stock to early October levels, even as the performance of diabetes, Established Pharmaceuticals division, and cardio devices was "encouraging." Despite higher costs due to soaring inflation and significant currency headwinds, PG topped analysts’ estimates for the first quarter of Fiscal 2023 (ended September 30, 2022), thanks to its pricing power and impressive brand portfolio.