Johnson & Johnson Q1 Beats Street View On Strong Performance Across All Segments, Lifts Guidance, Dividends

by Vandana Singh, Benzinga Editor
April 18, 2023 7:39 AM | 1 min read |
  • Johnson & Johnson JNJ has reported Q1 FY23 adjusted earnings of $2.68 per share, up 0.4% Y/Y and beating the consensus of $2.51.
  • Sales increased 5.6% to $24.75 billion, beating the consensus of $23.67 billion, with operational growth of 9.0% and adjusted operational growth of 7.6%.
  • "Our first quarter results demonstrate strong performance across all three segments of our business and reflect the dedication of Johnson & Johnson colleagues around the world," said Joaquin Duato, Chairman & CEO. 
  • "With this momentum, I look forward to the remainder of the year, one filled with exciting catalysts that will create both near- and long-term value for patients and all of our stakeholders."
  • Related: JNJ's Consumer Health Business Separation Will Remove Uncertainty Cloud From Company: Why This Analyst Wants Visibility
  • Pharmaceutical segment sales increased by 4.2% to $13.41 billion.
  • MedTech Q4 sales increased 7.3% to $7.48 billion. MedTech worldwide operational sales grew 11.0%, with the acquisition of Abiomed contributing 4.6%.
  • Consumer Health segment Q1 sales were up 7.4% to $3.85 billion.
  • Dividend: The pharma giant raised its quarterly dividend by 5.3% to $1.19/share from $1.13/share.
  • Outlook: Johnson & Johnson expects FY23 adjusted EPS of $10.60-$10.70, up from the prior outlook of $10.45-$10.65, compared to the consensus estimate is $10.51.
  • The company expects sales of $97.9 billion-$98.9 billion, up from previous guidance of $96.9 billion-$97.9 billion compared to the consensus of $97.71 billion.
  • Price Action: JNJ shares are up 1.68% at $168.45 during the premarket session on the last check Tuesday.
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