Johnson & Johnson (NYSE: JNJ) released its first-quarter financial results before the markets opened on Tuesday. The health care giant said that it had $2.10 in earnings per share (EPS) and $20.02 billion in revenue, while consensus estimates had called for $2.04 in EPS and $19.61 billion in revenue. In the same period of last year, the company said it had EPS of $2.06 and revenue of $20.01 billion.
Net revenues for the latest quarter reflected growth of 0.1%, operational growth of 3.9% and adjusted operational growth of 5.5%.
In terms of its segments, the company reported as follows:
- Consumer sales decreased 2.4% to $3.32 billion year over year.
- Medical Devices sales decreased 4.6% to $6.46 billion.
- Pharmaceuticals sales increased 4.1% to $10.24 billion.
Consumer worldwide operational sales were driven by over-the-counter products (including Tylenol analgesics, digestive health products and international anti-smoking aids) and Neutrogena beauty products, primarily offset by lower sales of baby care products.
Worldwide Medical Devices operational sales were driven by the growth of electrophysiology products in the Interventional Solutions business, Acuvue contact lenses in the Vision business, biosurgicals in the Advanced Surgery business and wound closure products in the General Surgery business.
Pharmaceutical worldwide operational sales were driven by a number of biologics and biosimilars including Stelara, Imbruvica, Darzalex, Tremfya, Erleada, Remicade and Zytiga to name a few.
Alex Gorsky, Johnson & Johnson’s board chair and chief executive, commented:
Our strong first-quarter results reflect continued underlying operational sales and adjusted EPS growth. At the same time, we remain focused on investing in innovative technologies and platforms that will make a meaningful difference in the lives of patients around the world. I am proud of our global colleagues’ collective efforts to deliver on our long-term goals and our ability to create value for all of our stakeholders.
Shares of Johnson & Johnson were last seen up 2% at $139.31, in a 52-week range of $118.62 to $148.99. The consensus price target is $145.00.