Categories Earnings, Health Care

Johnson & Johnson Q1 earnings slide on flat revenue growth

Healthcare giant Johnson & Johnson (JNJ) kicked off pharma earnings as it posted its first-quarter 2019 earnings on Tuesday, April 16, before the opening bell.

Reported revenue for the quarter barely changed — inching just 0.1% higher — at $20 billion, while net earnings slipped 14% to $3.7 billion.

On a diluted basis, earnings fell 13% to $1.39 per share.

Johnson and Johnson JNJ Q1 2019 Earnings Infographic

On a non-GAAP basis, operational sales improved 4% year-over-year, while adjusted operational sales grew 5.5%. Adjusted net earnings inched 0.5% higher to $5.7 billion and adjusted EPS rose by 2% to $2.10 per diluted share.

For Johnson & Johnson, US sales inched 2% higher to $10.1 billion. However, international sales slipped about 2% to $9.9 billion.

Consumer sales slowed by 2% to $3.3 billion and Medical Devices sales slumped 5% to $6.5 billion, while Pharmaceuticals top-line improved 4% to $10.2 billion.

Johnson & Johnson said in a statement that “the company is unable to predict with reasonable certainty the ultimate outcome of legal proceedings, unusual gains and losses, acquisition-related expenses and purchase accounting fair value adjustments without unreasonable effort.”

JNJ now expects adjusted FY2019 operational sales to rise 2.5-3.5%. Operational sales is expected to be $82.0-82.8 billion for the year.

“Our strong first-quarter results reflect continued underlying operational sales and adjusted EPS growth,” said CEO Alex Gorsky

“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,” the JNJ chief added as Johnson & Johnson posted its first-quarter results.

 

 

Earnings Calendar: Browse through our earnings calendar and get all scheduled earnings announcements, analyst/investor conference and much more!

Most Popular

Does Unity Software (U) stock has more room to run?

Last month, the IPO market was in a full swing. IPOs of Snowflake (NYSE: SNOW) and JFROG (NASDAQ: FROG) had an impressive opening day in September, the former creating a

PepsiCo (PEP): Steady snacking habits amid pandemic drive strong quarter for beverage giant

PepsiCo Inc. (NASDAQ: PEP) beat market expectations on both revenue and earnings for the third quarter of 2020. The company saw the momentum continue in its snacks business while the

Does the virus-driven boom make Electronic Arts (EA) a good investment?

With more and more people turning to virtual entertainment sources, amid the virus-related movement restrictions, video game publishers like Electronic Arts (NASDAQ: EA) are witnessing unusually high demand. Not surprisingly,

2 thoughts on “Johnson & Johnson Q1 earnings slide on flat revenue growth

Leave a Reply

Your email address will not be published. Required fields are marked *

Add Comment
Loading...

Cancel
Viewing Highlight
Loading...
Highlight
Close
Top