Health and Healthcare
Johnson & Johnson Pharmaceutical, Domestic Sales Fuel Growth
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Johnson & Johnson (NYSE: JNJ) reported its fiscal third-quarter financial results before the markets opened on Tuesday. The company said that it had $1.90 in earnings per share (EPS) and $19.7 billion in revenue, which compares with consensus estimates from Thomson Reuters of $1.80 in EPS and revenue of $19.28 billion. In the same period of last year, it posted EPS of $1.68 and $17.82 billion in revenue.
Domestic sales increased 9.7%. International sales increased 10.9%, reflecting operational growth of 9.3% and a positive currency impact of 1.6%. Excluding the net impact of acquisitions and divestitures, on an operational basis, worldwide, domestic and international sales each increased 3.8%.
In terms of its segments, the company reported:
As for the full year outlook, Johnson & Johnson increased both its EPS forecast to $7.25 to $7.30 and sales guidance to $76.1 billion to $76.5 billion. The consensus estimates call for $7.18 in EPS and $75.83 billion in revenue.
Alex Gorsky, board chair and CEO, commented:
Johnson & Johnson accelerated growth in the third quarter. This is driven by the strong performance of our Pharmaceutical business, and augmented by Actelion and other recent acquisitions across the enterprise that will continue to fuel growth. Our dedicated colleagues continue to focus on advancing our pipelines to bring innovative solutions to patients and consumers around the globe.
Shares of Johnson & Johnson traded up 1% early Tuesday at $137.52, with a consensus analyst price target of $138.80 and a 52-week trading range of $109.32 to $137.52.
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