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Health and Healthcare

J&J Manages to Beat Earnings Despite Currency Drag

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By Jon C. Ogg Updated Published
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Johnson & Johnson Logo
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Johnson & Johnson (NYSE: JNJ) has now reported its first-quarter results, showing an 8.5% gain in sales to $17.5 billion, and earnings of $4.1 billion on a normalized earnings basis that came to $1.44 in earnings per share. Thomson Reuters was calling for $1.40 per share earnings and $17.44 billion in sales. Domestic sales increased 11.2%, while international sales rose by 6.3% after a negative currency impact of 2.4%.

J&J also has gone out and reconfirmed its earnings guidance for fiscal 2013 in a range of $5.35 to $5.45 per share, but it noted that guidance excludes the impact of special items. Thomson Reuters had estimates of $5.40 per share.

Worldwide consumer sales rose by 2.2% to $3.7 billion for the first quarter, after a negative impact from currency of 1.1%. Worldwide pharmaceutical sales were up 10.4% to $6.8 billion for the first quarter, after a negative impact from currency of 1.0%.

We did not see information regarding the dividend, but we have been expecting a dividend hike. Shares closed at $81.71 yesterday, against a 52-week range of $61.71 to $83.09.

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About the Author Jon C. Ogg →

Jon Ogg has been a financial news analyst since 1997. Mr. Ogg set up one of the first audio squawk box services for traders called TTN, which he sold in 2003. He has previously worked as a licensed broker to some of the top U.S. and E.U. financial institutions, managed capital, and has raised private capital at the seed and venture stage. He has lived in Copenhagen, Denmark, as well as New York and Chicago, and he now lives in Houston, Texas. Jon received a Bachelor of Business Administration in finance at University of Houston in 1992. a673b.bigscoots-temp.com.

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