Johnson & Johnson Reports Mixed Q4 Earnings, Issues FY23 Guidance Edging Higher Than Street Consensus

Johnson & Johnson JNJ has reported Q4 FY22 adjusted earnings of $2.35 per share, up 10% Y/Y and beating the consensus of $2.23.
Sales declined 4.4% to $23.7 billion, primarily driven by unfavorable foreign exchange and reduced COVID-19 vaccine sales, missing the consensus of $23.94 billion.
Operational growth, excluding the COVID-19 vaccine, was 4.6%.
Related: Johnson & Johnson Cuts Production, Ends Contracts For Not So Successful COVID-19 Shot
Pharmaceutical segment sales decreased by 2.3% to $13.16 billion.
FY22 pharmaceutical segment sales increased by 6.8% to $52.56 billion due to Darzalex, Stelara, Erleada, Tremfya, and paliperidone palmitate, offset by lower sales from Remicade, Zytiga, and Imbruvica.
MedTech Q4 sales increased 4.4% to $6.78 billion. FY22 sales increased by 6.1%, driven primarily by demand for electrophysiology products, contact lenses, and wound-closure products.
Consumer Health segment Q4 sales were up 6.4% to $3.77 billion. FY22 sales increased by 3.9% to $14.95 billion, predominately driven by over-the-counter products.
Outlook: Johnson & Johnson expects FY23 adjusted EPS of $10.45-$10.65, compared to the consensus estimate is $10.33.
The company expects sales of $96.9 – $97.9 billion, versus the consensus of $97.74 billion.
Price Action: JNJ shares are up 0.93% at $169.88 during the premarket session on the last check Tuesday.

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