Johnson & Johnson
Q1 2026 Earnings
Market Reaction
S&P 500 over the same 30 days: +7.73%.
Did JNJ Beat Earnings? Q1 2026 Results
Johnson & Johnson opened 2026 on solid footing, posting first-quarter revenue of $24.06 billion, up 9.9% year-over-year and ahead of the $23.61 billion consensus estimate, while adjusted EPS of $2.70 edged past the $2.68 analyst expectation by 0.85%, extending the company's streak of consensus EPS beats to four consecutive quarters. The primary engine behind the top-line strength was the Innovative Medicine segment, where oncology delivered standout performance led by DARZALEX at $3.96 billion and CARVYKTI surging 62.1% to $597 million, more than offsetting a sharp 59.7% decline in STELARA as biosimilar competition intensified. MedTech contributed $8.64 billion, with Cardiovascular climbing 13.0% to $2.38 billion. Separately, the Board approved a 3.1% dividend increase to $1.34 per share quarterly, marking 64 consecutive years of dividend growth. Looking ahead, management raised its full-year 2026 guidance, now targeting revenue of $100.30 billion to $101.30 billion and adjusted diluted EPS of $11.45 to $11.65, reinforcing confidence in its path toward double-digit growth by decade's end.
- DARZALEX worldwide sales grew 22.5% to $3,964M driven by strong demand
- TREMFYA surged 68.3% to $1,608M as it captures share from biosimilar-eroded STELARA
- CARVYKTI grew 62.1% to $597M reflecting expanding cell therapy adoption
- RYBREVANT/LAZCLUZE grew 82.7% to $257M on new indication approvals
- CAPLYTA contributed $270M following Intra-Cellular Therapies acquisition in April 2025
- Electrophysiology, Abiomed, and Shockwave drove MedTech Cardiovascular growth of 13.0%
- Trauma products drove Orthopaedics growth in MedTech
- STELARA biosimilar competition resulted in 59.7% decline to $656M, approximately 920 bps drag on Innovative Medicine
- Favorable currency translation contributed 3.5% to worldwide sales growth
“Johnson & Johnson had a strong start to 2026 and is delivering on its promise for a year of accelerated growth and impact.”
Johnson & Johnson CEO, on the earnings call
Forward Guidance & Outlook
Johnson & Johnson raised its full-year 2026 guidance. The company now expects estimated reported sales of $100.3B–$101.3B (midpoint $100.8B, 7.0% growth at midpoint), up from the prior January guidance of $100.0B–$101.0B (midpoint $100.5B). Adjusted operational sales growth is now expected at 5.6%–6.6% (midpoint 6.1%), up from 5.4%–6.4% (midpoint 5.9%). Adjusted EPS (diluted) is guided at $11.45–$11.65 (midpoint $11.55, 7.1% growth at midpoint), up from $11.43–$11.63 (midpoint $11.53). Adjusted operational EPS (diluted) is guided at $11.30–$11.50 (midpoint $11.40, 5.7% growth at midpoint). The company is solidifying its path to double-digit growth by the end of the decade. An Enterprise Business Review is planned for December 8, 2026.
JNJ YoY Financials
JNJ Revenue by Segment
JNJ Revenue by Geography
Figures from SEC filings and company reports. Not investment advice.