Loading...
Loading...
- Johnson & Johnson JNJ has posted stronger-than-expected Q1 earnings and boosted its full-year earnings forecast as medical device and pharmaceutical sales recorded post-pandemic gains.
- J&J’s financial results come as the company’s COVID-19 vaccine has been put on pause in the U.S. after six women developed a rare blood clotting disorder that left one dead and one in critical condition.
- White House chief medical advisor Dr. Anthony Fauci believes that JNJ shots are likely to be resumed with a warning this week.
- Adjusted earnings of $2.59 per share were up 12.6% from a year ago, well ahead of the consensus forecast of $2.34 per share.
- Consolidated revenues increased 7.9% to $22.3 billion, again beating analysts’ estimates of a $22 billion tally.
- “Johnson & Johnson delivered a strong first-quarter performance led by the above-market growth of our Pharmaceutical business and continued recovery in Medical Devices,” said CEO Alex Gorsky.
- Consumer Health sales declined 2.3% Y/Y to $3.5 billion, primarily driven by a 13% drop in sales from over-the-counter products.
- Pharmaceutical sales were up 9.6% to $12.2 billion driven by Darzalex, Stelara, Erleada, Tremfya, paliperidone palmitate, and Imbruvica.
- Medical Devices segment sales grew 10.9% to $6.6 billion, reflecting the benefit of market recovery from COVID-19 impacts.
- The company also tightened the range of its 2021 adjusted earnings forecast to $9.42 to $9.57 per share while projecting sales in the range of $90.6 billion and $91.6 billion, representing an increase of 9.3% at the midpoint.
- The company reported $100 million in sales from the COVID-19 vaccine that received emergency use nod in late February.
- JNJ increased the quarterly dividend by 5%, from $1.01 per share to $1.06 per share, resulting in a dividend on an annual basis is $4.24 per share compared to the previous rate of $4.04 per share.
- Separately, Johnson & Johnson has applied to India’s drug regulator seeking permission to conduct a Phase-3 trial of its single-dose COVID-19 vaccine as well as import license, sources said.
- Price Action: JNJ shares are down 0.2% at $162.42 in premarket on the last check Tuesday.
Related content: Benzinga's Full Guidance Calendar
Loading...
Loading...
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Date | ticker | name | Actual EPS | EPS Surprise | Actual Rev | Rev Surprise |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in