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Johnson & Johnson Q2 2019 earnings



Johnson & Johnson posted a 42% jump in profits in the second quarter, with all three segments of the sprawling healthcare company outperforming Wall Street analysts survey by Refinitiv:

  • Earnings per share: $ 2.58, adjusted compared to $ 2.46 expected
  • Revenue: $ 20.56 billion against $ 20.29 billion expected

J & J handles everything from Acuvue contacts to cancer drugs like Zytiga to Aveeno lotion.

The Company reported net income of $ 5.61 billion or $ 2.08 per share for the second quarter, up 42% from $ 3.95 billion, or $ 1

.45 per share Share in the previous year. Excluding intangibles and special items, J & J earned $ 2.58 per share, outperforming the $ 2.46 per share quoted by Refinitiv.

Net sales declined 1.3% to $ 20.56 billion, yet exceeded analyst expectations of $ 20.29 billion.

J & J's pharmaceutical business, which accounts for half of the company's sales and includes psoriasis drugs such as Stelara and Tremfya, generated $ 3.54 billion in revenue, better than the expected 3.52, according to StreetAccount estimates Billion USD.

J & J's Consumer The division, which manufactures Aveeno Body Care and J & J's eponymous baby products, posted sales of $ 3.54 billion, ahead of the expected $ 3.52 billion. The medical device business, which includes Acuvue Contacts and Ethicon surgical products, generated revenues of $ 6.49 billion. Analysts had expected $ 6.43 billion.

J & J increased its full-year revenue guidance to $ 80.8 to $ 81.6 billion after previously $ 80.4 billion at $ 81.2 billion. The company did not raise its earnings guidance and reiterated its previous guidance of adjusted earnings in the range of $ 8.53 to $ 8.63 per share.

"If you look at our earnings growth this year, we'll maintain that it's twice as fast as revenue growth," said Joe Wolk, J & J's Chief Financial Officer, to CNBC's "Squawk Box." "We believe that this is very healthy and long-term, which gives us a great opportunity to invest in our portfolio, and we can either accelerate, strengthen or even expand our pipeline in the future so that we not only get involved in the solidify next time. " Six months, but many, many, many years.

J & J's shares rose 0.4% in premarket trading.

The company is trying to rebalance the decline in some of its top-selling drugs, such as Zytiga, as Spravato announced down 23% year-on-year, with the prostate cancer drug facing generic competition in the US after losing patent protection last fall.

J & J also faces thousands of lawsuits claiming to be on Talk-based baby powder Ovary causes cancer and mesothelioma that endanger the company's family-friendly image The company has fought the lawsuit and insists its baby powder is safe.

J & J's share fell almost 4% last week, after Bloomberg, citing unnamed sources, had notified a large jury, which was examining documents as part of a criminal investigation, whether J & J ü Lied about the possibility has cancer risks of talcum powder.

Wolk said the report was "no new news" and "the surprise, if any, was the fact that it was considered news." J & J announced in February that it had received subpoenas.

"We are fully committed and fully cooperate with the Ministry of Justice," he said. "It's a smart organization, and I'm sure that if they go through the facts, they'll come to the same conclusions that the company has acted responsibly and the product is safe."


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