New Johnson & Johnson's Q3 Earnings Beat Street View, Raises Annual Outlook

Johnson & Johnson JNJ has reported Q3 FY23 adjusted earnings of $2.66 per share, up 19.3% Y/Y and beating the consensus of $2.51.

Sales increased 6.8% to $21.35 billion, beating the consensus of $21.04 billion, with operational growth of 7.5 and adjusted operational growth of 6.4%. Operational growth, excluding the COVID-19 Vaccine, was 9%. Pharmaceutical segment sales increased by 5.1% to $13.89 billion.

Also Read: Johnson & Johnson Sees Legal Win In Talc Powder Cancer Claims.

Darzalex (cancer drug) and Stelara (Crohn's disease) accounted for $2.5 billion and $2.8 billion in Q3.

MedTech sales increased 10% to $7.45 billion. MedTech worldwide operational sales grew 10.4%, with the acquisition of Abiomed contributing 4.6%.

In August, Johnson & Johnson unveiled 2023 projections, predicting double-digit profit growth after its recent spinoff of consumer health company Kenvue Inc KVUE.

The company's outlook provides an early glimpse into the performance of its standalone drugs and medical device businesses.

Guidance: Johnson & Johnson expects FY23 adjusted profit of $10.07-$10.13 per share, compared with its previous outlook of $10.00-$10.10 per share and the consensus of $10.03.

Johnson & Johnson sees FY23 sales of $83.6 billion–$84 billion compared to the prior range of $83.2 billion–$84 billion and consensus of $84.53 billion.

Price Action: JNJ shares are up 1.35% at $159.65 during the premarket session on the last check Tuesday.

Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Date
ticker
name
Actual EPS
EPS Surprise
Actual Rev
Rev Surprise
Posted In: BiotechEarningsLarge CapNewsGuidanceHealth CareMoversGeneralBriefswhy it's moving
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!