Johnson & Johnson (NYSE: JNJ) reported its fourth-quarter financial results before the markets opened on Tuesday. The company said that it had $1.74 in earnings per share (EPS) and $20.2 billion in revenue, compared with consensus estimates from Thomson Reuters that called for $1.72 in EPS and $20.07 billion in revenue. The same period from last year had $1.58 in EPS and $18.11 billion in revenue.
During the quarter, the company incurred a one-time charge associated with the tax legislation of $13.6 billion.
For the fourth quarter, operational sales results increased 9.4% and the positive impact of currency was 2.1%. Domestic sales increased 9.8%. International sales increased 13.5%, reflecting operational growth of 9.0% and a positive currency impact of 4.5%.
The company reported its segment results for the quarter as follows:
- Consumer sales totaled $1.38 billion.
- Pharmaceutical sales totaled $5.78 billion.
- Medical Devices sales totaled $3.31 billion.
- U.S. sales totaled $10.47 billion.
Alex Gorsky, board chair and chief executive, commented:
Johnson & Johnson delivered strong adjusted earnings per share growth of 8.5% and total shareholder return of greater than 24% in 2017, driven by the robust performance of our Pharmaceutical business, while continuing to make investments in acquisitions, innovation and strategic partnerships to accelerate growth in each of our businesses. As we enter 2018 and look beyond, we are experiencing an incredible pace of change in health care. Johnson & Johnson is uniquely positioned to lead during this dynamic era and deliver innovative solutions for patients and consumers that drive sustainable, long-term growth. We are pleased with the passage of recent legislation modernizing the U.S. tax system, which enables Johnson & Johnson to invest in innovation at higher levels to help address the most challenging unmet medical needs facing health care today.
Shares closed Monday at $148.14, with a consensus analyst price target of $148.50 and a 52-week trading range of $110.76 to $148.32. Following the announcement, the stock was up almost 1% at $149.35 in early trading indications Tuesday.