2024-01-23 07:20:35 ET
Johnson & Johnson (NYSE: JNJ) just reported its financial results for the fourth quarter that slightly topped Street estimates. Its shares are roughly flat in premarket on Tuesday.
Johnson & Johnson’s guidance for fiscal 2024
The pharmaceutical giant now forecasts its full-year sales to fall between $87.8 billion and $88.6 billion on up to $10.75 of per-share earnings.
Analysts, in comparison, were at $87.9 billion and $10.68 a share, respectively. Joaquin Duato – the chief executive of Johnson & Johnson said in a press release today:
We have entered 2024 from a position of strength, and I’m confident in our ability to lead the next wave of health innovation.
The earnings report arrives about six months after Johnson & Johnson spun off its consumer health business (Kenvue) to focus entirely on the two segments – pharmaceutical and medical devices. is currently up more than 10% versus its low in late October.
Watch here: https://www.youtube.com/embed/U52iOqoFMlU?feature=oembedNotable figures in J&J earnings release
- Earned $4.13 billion versus the year-ago $3.23 billion
- Per-share earnings also climbed from $1.22 to $1.70
- Adjusted EPS printed at $2.29 as per the press release
- Total sales jumped 7.3% year-on-year to $21.40 billion
- Consensus was $2.28 a share on $21.01 billion in sales
Medical devices and pharmaceuticals sales were up 13.3% and 4.2%, respectively. CEO Duato added on Tuesday:
Johnson & Johnson results reflect the breadth and competitiveness of our business and our relentless focus on delivering for patients.
J&J says it has settled some talc claims, will continue bankruptcy strategy https://t.co/rSfHmhQLY8 pic.twitter.com/7QODw3C0BH
— Reuters (@Reuters) December 6, 2023
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