Categories AlphaGraphs, Earnings, LATEST

Strong pharma business aids in Johnson & Johnson’s Q2 beat

Healthcare giant Johnson & Johnson (JNJ) reported a beat on both the top and bottom line expectations as it posted its Q2 2018 earnings. This was aided by a double-digit growth in Pharmaceutical business and the accelerating sales momentum in the Medical Devices business.

During the quarter, the company posted EPS of $1.45. Excluding items, EPS grew 14% to $2.10, topping analysts’ expectation of $2.06 per share. Revenue came in at $20.8 billion, beating the consensus of $20.37 billion.

For the past four quarters, the company has put together impressive earnings results topping analysts estimates, thanks to a booming pharmaceutical segment. Cancer drugs Imbruvica and Darzalex aided most of this growth. Despite stiff competition from biosimilars, the company managed to post a double-digit sales growth during the quarter. The pharma segment posted sales of $10.4 billion, an increase of 19.9% versus the prior year.

The firm updated its sales guidance for full-year 2018 to a range of $80.5 billion – $81.3 billion. Johnson’s also updated its adjusted earnings guidance for full-year 2018 to a range of $8.07 – $8.17 per share.

 

JNJ second quarter 2018 earnings

Separately, the company’s board declared a cash dividend of $0.90 per share for the Q3 2018 on the company’s common stock.  The dividend is payable on September 11, 2018 to shareholders of record on August 28, 2018.

The company has a strong financial position and should not have much trouble paying $4.7 billion in damages for a lawsuit it lost recently over its talc products. However, there are about 9,000 more similar cases pending against the company.

During pre-market trading, JNJ shares rose 0.49% to $125.30.

Most Popular

HPE Earnings: Hewlett Packard Q1 2024 profit drops but beats Street view

Information technology solutions provider Hewlett Packard Enterprise (NYSE: HPE) on Thursday reported lower earnings and revenues for the first quarter of 2024. Earnings, however, exceeded analysts’ forecasts. First-quarter profit, excluding

After entering FY24 on a high note, Costco is all set to report Q2 results

Costco Wholesale Corporation (NASDAQ: COST) stands out in the retail space for its unique business model that enables the warehouse behemoth to grow store traffic and market share constantly. Currently,

Hormel (HRL) expects continued momentum from its foodservice business in FY2024

Shares of Hormel Foods Corporation (NYSE: HRL) soared over 13% on Thursday after the company delivered better-than-expected earnings results for the first quarter of 2024 and reaffirmed its outlook for

Tags

Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top