Why Johnson & Johnson (JNJ) Shares Are Trading Higher Premarket Today - Johnson & Johnson (NYSE:JNJ)

Johnson & Johnson JNJ has reported Q3 FY22 adjusted earnings of $2.55 per share, down 1.9% Y/Y and slightly ahead of the consensus of $2.52.
Net sales increased 1.9% Y/Y (8.1% on an operational basis) to $23.8 billion, marginally beating the consensus of $23.47 billion.
Pharmaceuticals contributed $13.21 billion in sales, +2.6% (9% operational), due to Darzalex, Tremfya, Stelara, Erleada, and paliperidone palmitate and COVID-19 vaccine, offset by lower sales from Remicade and Imbruvica.
The company generated $489 million in COVID-19 vaccine sales during the quarter, with none from the U.S.
Medical Devices sales increased 2.1% to $6.78 billion (8.1% operational), driven primarily by demand for contact lenses and wound-closure products.
Consumer Health segment sales were down 0.4% to $3.79 billion.
Outlook: Johnson & Johnson expects FY22 adjusted EPS of $10.02 – $10.07, better than the prior forecast of $10.00 - $10.10. The consensus estimate is $10.03.
The company expects sales of $93 – $93.5 billion, compared to the previous guidance of $93.3–$94.3 billion, versus the consensus of $94.85 billion.
Price Action: JNJ shares are up 2.05% at $170 during the premarket session on the last check Tuesday.

Johnson & Johnson Beats Q3 Estimates Led By Strength From Cancer, Crohn's Disease Drugs, Tightens Guidance