Johnson & Johnson Cuts Annual Profit Outlook, Pharma Unit Cushions Fall In Medical Devices

  • Johnson & Johnson JNJ has reported Q2 FY22 adjusted earnings of $2.59 per share, up 4.4% Y/Y and slightly ahead of the consensus of $2.57.
  • Net sales increased 3% Y/Y (8% on an operational basis) to $24.02 billion, marginally beating the consensus of $23.81 billion.
  • Pharmaceuticals contributed $13.32 billion in sales, +12.4%, due to Darzalex, Stelara, Tremfya, Erleada, and paliperidone palmitate and COVID-19 vaccine, offset by lower sales from Remicade and Imbruvica.
  • Related: Johnson & Johnson Suspends Sales Forecast For COVID-19 Vaccine, Trims FY22 Profit Outlook.
  • JNJ generated $544 million in COVID-19 vaccine sales during the quarter, with sales down 12% in the U.S. to $45 million.
  • Medical Devices sales declined 1.1% to $6.89 billion, as COVID-19-related mobility restrictions in certain regions partially offset growth.
  • Consumer Health segment sales were down 1.3% to $3.8 billion. 
  • Outlook: Johnson & Johnson expects FY22 adjusted EPS of $10.00 - $10.10, lower than the prior forecast of $10.15 - $10.35. The consensus estimate is $10.27.
  • The company expects sales of $93.3 billion – $94.3 billion, compared to the previous guidance of $93.3 billion – $94.3 billion, versus the consensus of $96.04 billion.
  • Price Action: JNJ shares are up 0.21% at $174.60 during the premarket session on the last check Tuesday.
Market News and Data brought to you by Benzinga APIs
Actual EPS
EPS Surprise
Actual Rev
Rev Surprise
Posted In: BiotechEarningsLarge CapNewsGuidanceHealth CareGeneralBriefs
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!