Johnson & Johnson Reports 2.3% Sales Increase

By Tamara Parker • Tuesday, April 16 15:18 • Permanent Link

Johnson & Johnson (NYSE: JNJ) has released its first-quarter 2024 results, reporting a 2.3% increase in reported sales to $21.4 billion, with operational growth of 3.9%. Adjusted operational growth, excluding the impact of the COVID-19 vaccine, reached 7.7%. The company saw its earnings per share (EPS) increase to $2.20, and adjusted EPS increased to $2.71, marking a 12.4% rise.

Innovative Medicine's worldwide operational sales, excluding the COVID-19 vaccine, grew by 8.3%. This growth was primarily driven by products in oncology, pulmonary hypertension, immunology, and neuroscience. MedTech also experienced growth with worldwide operational sales increasing by 6.3%, driven primarily by electrophysiology products and wound closure products.

Looking ahead, Johnson & Johnson has increased the midpoint for full-year 2024 operational sales and adjusted operational EPS guidance. The adjusted operational sales midpoint is expected to grow by 5.5% to 6.0%, while the adjusted operational EPS midpoint is projected to increase by 7.7% to 8.4% compared to the previous year.

The company's estimated reported sales for the full year are anticipated to see an increase of 4.7% to 5.2%. The adjusted EPS (diluted) midpoint is expected to rise by 6.6% to 8.1%, and the adjusted operational EPS (diluted) midpoint is projected to increase by 6.9% to 8.4%.

Johnson & Johnson's drive for innovation is evident in various regulatory milestones, including the approval and submission of several new treatments and therapies by the U.S. FDA and European Medicines Agency. These milestones underscore the company's commitment to advancing healthcare solutions across multiple therapeutic areas.

These results reflect Johnson & Johnson's continued focus on delivering growth and innovation in the healthcare industry, positioning the company for a promising year ahead. As a result of these announcements, the company's shares have moved -1.8% on the market, and are now trading at a price of $144.93. For more information, read the company's full 8-K submission here.

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