Categories AlphaGraphs, Earnings, Health Care
Johnson & Johnson (JNJ) Q3 earnings, sales beat Street view; stock gains
Earnings of healthcare conglomerate Johnson & Johnson (NYSE: JNJ) increased and topped the Street view in the third quarter helped by a 2% growth in sales. Encouraged by the positive outcome, the management revised up its full-year earnings and sales outlook. The company’s stock gained early Tuesday following the announcement.
Adjusted earnings rose 3.4% annually to $2.12 per share in the third quarter from $2.05 per share last year and topped the estimates. Reported profit increased to $4.83 billion or $1.81 per share in the three-month period from $3.93 billion or $1.44 per share in the prior-year quarter.
Top-line Beats
Net sales, meanwhile, moved up to $20.73 billion from $20.35 billion in the third quarter of 2018. Market watchers were looking for a lower top-line number. Sales grew 1.2% in the US and advanced 2.6% in the international market. Segment-wise, Consumer and Pharmaceutical sales grew 1.6% and 5.1% respectively, while Medical Devices sales dropped 3.1%.
“Our third-quarter results represent strong performance, driven by competitive underlying growth in Pharmaceuticals and Medical Devices, as well as continued optimization in our Consumer business,” said CEO Alex Gorsky.
Outlook
The company revised up its full-year 2019 sales outlook to the range of $81.8 billion to $82.3 billion from the previous forecast of $80.8-$81.6 billion, representing a 0.2-0.7% annual increase. The guidance for adjusted earnings has been raised to the range of $8.62 per share to $8.67 per share from $8.53-$8.63 per share, which represents a 5.4-6.0% growth.
To drive growth during the remainder of the year, the management bets on its broad-based business model, supported by disciplined portfolio management and focus on transformational innovation.
Also see: Johnson & Johnson Q2 2019 Earnings Call Transcript
After making a positive start to the year, Johnson & Johnson’s shares pared the initial gains in recent weeks and slipped below the $130-mark. The stock, which lost about 6% in the past twelve months, gained modestly during Tuesday’s pre-market trading session.
Most Popular
CCL Earnings: Carnival Corp. Q4 2024 revenue rises 10%
Carnival Corporation & plc. (NYSE: CCL) Friday reported strong revenue growth for the fourth quarter of 2024. The cruise line operator reported a profit for Q4, compared to a loss
Key metrics from Nike’s (NKE) Q2 2025 earnings results
NIKE, Inc. (NYSE: NKE) reported total revenues of $12.4 billion for the second quarter of 2025, down 8% on a reported basis and down 9% on a currency-neutral basis. Net
FDX Earnings: FedEx Q2 2025 adjusted profit increases; revenue dips
Cargo giant FedEx Corporation (NYSE: FDX), which completed an organizational restructuring recently, announced financial results for the second quarter of 2025. Second-quarter earnings, excluding one-off items, were $4.05 per share,
