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Johnson & Johnson Q1 Earnings Beat Wall Street Estimates; Drugmaker Raises Full-Year Outlook on Strong Ophthalmic Device Sales
On Tuesday, Johnson & Johnson (NYSE:JNJ) reported first-quarter adjusted EPS of $2.71, up 12.4% year-on-year, beating estimates of $2.64. The drug giant reported sales of $21.38 billion, a year-over-year increase of 2.31 TP3T, almost in line with the consensus of $21.39 billion. Operating growth was 3.91 TP3T, compared to adjusted operating growth of 4.01 TP3T. JNJ reported a net profit of $5.35 billion, compared to a net loss of ($491) million in the same period last year, which included a $6.9 billion litigation charge. Innovation
This Tuesday.Johnson(NYSE:JNJ) announced first quarter adjusted EPS of $2.71, up 12.41 TP3T from the year-ago quarter and ahead of the market consensus estimate of $2.64.
The drug giant reported sales of $21.38 billion, up 2.31 TP3T year-over-year, almost unchanged from the consensus estimate of $21.39 billion. Operating growth was 3.91 TP3T, compared to adjusted operating growth of 4.01 TP3T.
JNJ reported a net profit of $5.35 billion compared to a net loss of $(491) million in the same period last year, which included $6.9 billion in litigation expenses.
Excluding the COVID-19 vaccine, the Innovative Medicines segment's global business sales increased by 8.31 TP3T to $13.6 billion.
Sales of its psoriasis drug Stelara were flat at $2.45 billion in the first quarter, while sales of Darzalex jumped about 19% to $2.69 billion.
The company's cancer treatment, Carvykti, was recently approved by the U.S. Food and Drug Administration for the expanded treatment of patients with a type of blood cancer, with first quarter sales of $157 million.
Quarterly sales of Tecvayli, another blood cancer treatment, were $133 million.
For the first quarter, J&J's Medical Devices segment reported sales of $7.82 billion, an increase of 4.51 TP3T from the prior year quarter, driven by electrophysiology products and Abiomed in Cardiovascular and wound closure products in General Surgery.
Dividends:Johnson & Johnson also raised its quarterly dividend by 4.21 TP3T, from $1.19 to $1.24 per share.
The professionalism is guided by the meritocracy: Johnson & Johnson expects operating sales of $88.7 billion to $89.1 billion in fiscal 2024, compared with previous guidance of $88.2 billion to $89.0 billion and consensus of $88.43 billion.
The company expects adjusted EPS of $10.57-$10.72 for fiscal 2024, compared to a consensus of $10.66 and prior guidance of $10.55-$10.75, and adjusted operating EPS of $10.60-$10.75.
Read next: Johnson & Johnson's $13 Billion Shockwave Therapy Deal Accelerates Its Therapy Technology Strategy, Analysts SayThe
Price Trend: Shares of Johnson & Johnson traded down 1.69% at $145.10 in Tuesday's pre-ban trading session.
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This article originally appeared on Benzinga.com, Johnson & Johnson Beats Wall Street Estimates in Q1 on Strong Mammography Device Sales; Drugmaker Raises Annual Outlook.
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