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Johnson & Johnson's profit jumped 42% in the second quarter, with all three activities of this sprawling healthcare company outperforming Wall Street.
Here's what the company has reported compared to Wall Street estimates, according to a poll of badysts made by Refinitiv:
- Earnings per share: $ 2.58 adjusted versus $ 2.46 expected
- Turnover: $ 20.56 billion against $ 20.29 billion forecast
J & J does it all, from Acuvue contacts to anti-cancer drugs such as Zytiga, to Aveeno lotion.
The company reported second-quarter net income of $ 5.61 billion, or $ 2.08 per share, an increase of 42% from $ 3.95 billion, or $ 1.45 per share, posted a year earlier. Excluding intangible amortization and special items, J & J posted net earnings of $ 2.58 per share versus $ 2.46 per share expected by badysts surveyed by Refinitiv.
Net sales fell to $ 20.56 billion, down 1.3% from the same quarter last year, while exceeding badysts' expectations of $ 20.29 billion. J & J's pharmaceutical operations, which account for half of the company's revenues and include psoriasis drugs such as Stelara and Tremfya, recorded a business turnover of $ 3.54 billion, higher than the 3 , 52 billion expected by badysts, according to estimates established by StreetAccount.
The consumer unit of J & J, which manufactures Aveeno body products and baby products with the same name, has achieved a business turnover of $ 3.54 billion, exceeding 3 , 52 billion expected badysts. Its medical device sector, which includes Acuvue contacts and Ethicon surgical products, recorded a business turnover of $ 6.49 billion. Analysts expected $ 6.43 billion.
"We have seen strong growth in underlying sales in the second quarter and earnings, which allows us to invest in innovation to accelerate the performance of each of our segments," said the CEO. J & J, Alex Gorsky, in a statement.
J & J has projected annual sales for the full year between $ 80.8 and $ 81.6 billion, up from $ 80.4 billion previously underwriting 81.2 billions of dollars. The company has not raised its earnings guidance, reiterating the previously guided guidance of adjusted earnings ranging from $ 8.53 to $ 8.63 per share.
J & J shares rose 0.4% in pre-sale transactions.
The company is trying to balance declining sales of some of its top performing drugs, such as Zytiga, while introducing new ones such as Spravato. Prostate Cancer Treatment Zytiga lost the patent protection of last fall and now has to face competition from a handful of generic drugs. Meanwhile, J & J has been approved by the US Food and Drug Administration's Spravato, a ketamine-like nasal spray for treatment-resistant depression in the spring.
J & J must also deal with thousands of lawsuits, alleging that its talcum powder was the cause of ovarian cancer and mesothelioma, thus threatening the life of the baby. image of society for families. The company has fought the charges and insists that its baby powder is safe.
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