Johnson & Johnson (NYSE: JNJ) surpassed analysts’ expectations on revenue and earnings for the second quarter of 2019. Shares were up by 0.77% in premarket hours on Tuesday.
Net sales declined 1.3% to $20.6 billion from the same period last year but came ahead of the forecast of $20.3 billion.
Reported net income rose over 41% to $5.6 billion, or $2.08 per share, compared to the year-ago period. Adjusted earnings rose 22% to $6.9 billion, or $2.58 per share, beating estimates of $2.43 per share.
On a reported basis, sales declined 2.2% in the US and 0.3% internationally versus last year. On an adjusted operational basis, US sales reflected no change while international sales rose 7.6%.
During the quarter, sales rose 1.2% in the Consumer segment and 1.7% in the Pharmaceuticals segment on a reported basis while in the Medical Devices unit, sales declined 6.9%. On an adjusted operational basis, all three divisions recorded sales increases.
Adjusted operational sales in the Consumer division grew 2.3%, driven by NEUTROGENA, AVEENO and OGX beauty products as well as OTC products. Sales in Pharmaceuticals rose 4.4%, helped by products like DARZALEX, STELARA and IMBRUVICA. In Medical Devices, sales increased 3.2%, driven by growth in electrophysiology products, endocutters and international energy products.
For the full year of 2019, J&J raised its reported sales guidance to a range of $80.8 billion to $81.6 billion versus the previous outlook of $80.4 billion to $81.2 billion. Adjusted EPS is expected to be $8.53-8.63.
Listen to on-demand earnings calls and hear how management responds to analysts’ questions
Most Popular
United Parcel Service (UPS) seems on track to regain lost strength
Cargo giant United Parcel Service, Inc. (NYSE: UPS) ended fiscal 2023 on a weak note, reporting lower revenues and profit for the fourth quarter. The company experienced a slowdown post-pandemic
IPO Alert: What to look for when Boundless Bio goes public
Boundless Bio is preparing to debut on the Nasdaq stock market this week, and become the latest addition to the list of biotech firms that have launched IPOs this year.
Nike (NKE) bets on innovation and partnerships to return to high growth
Sneaker giant Nike, Inc. (NYSE: NKE) has been going through a rough patch for some time, with sales coming under pressure from weak demand and rising competition. Post-pandemic, the company