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- Johnson & Johnson JNJ has reported Q3 adjusted earnings of $2.60 per share, up 18% Y/Y over the $2.20 posted a year ago and better than the consensus of $2.36.
- Net sales increased 10.6% Y/Y to $23.3 billion, ahead of the consensus of $23.7 billion.
- Pharmaceutical contributed $12.9 billion in sales, +13.8%, due to Stelara (ustekinumab), Darzalex (daratumumab), Tremfya (guselkumab), Erleada (apalutamide), Opsumit (macitentan), and paliperidone palmitate.
- This growth was partially offset by the decline in sales from Remicade (infliximab) and Invokana (canagliflozin).
- Medical Devices grew 7.6% to $6.6 billion, primarily driven by electrophysiology, wound closure, surgical vision, trauma, hips, knees, and biosurgical products. Spine, Sports & Other partially offset growth.
- Consumer health segment sales increased 5.7% Y/Y to $3.7 billion, primarily driven by over-the-counter products.
- JNJ generated $502 million in sales from COVID-19 vaccine sales during the quarter.
- Outlook: JNJ raised FY21 guidance to overall sales of $94.1 billion - $94.6 billion ($93.8 billion - $94.6 billion previously), including $2.5 billion from COVID-19 Vaccine sales.
- It expects adjusted EPS of $9.77-$9.82, as against the earlier outlook of $9.60 - $9.70, higher than the consensus of $9.66.
- Price Action: JNJ shares are up 1.49% at $162.50 during the premarket session on the last check Tuesday.
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