• 4
  • 3
  • Favorite

Johnson & Johnson's Profit Beats As Sales Fall Slightly Short of Estimates

Dow Jones04-16

Johnson & Johnson’s stock fell 1.4% early Tuesday, after the healthcare company posted better-than-expected profit for the first quarter but sales that fell slightly short of expectations.

The New Brunswick, N.J.-based company had net income of $5.354 billion, or $2.20 a share, for the quarter, after a loss of $491 million, or 19 cents a share, in the year-earlier period. Adjusted per-share earnings came to $2.71, ahead of the $2.64 FactSet consensus.

Sales rose 2.3% to $21.383 billion from $20.894 billion a year ago, just below the $21.390 billion FactSet consensus.

By division, sales at the innovative medicine segment rose 1.1% to $13.562 billion, while sales at the medtech division rose 4.5% to $7.821 billion and worldwide sales.

The company, which spun out its consumer-healthcare business last year into a separate company called Kenvue Inc., tweaked its full-year guidance to raise the midpoint for adjusted EPS.

It is now expecting full-year sales to range from $88.0 billion to $88.4 billion, compared with guidance offered in January of $87.8 billion to$88.6 billion, for a midpoint that’s unchanged at $88.2 billion.

It expects adjusted EPS of $10.60 to $10.75, compared with earlier guidance of $10.55 to $10.75, raising the midpoint to $10.68 from $10.65.

Separately, the company said it’s raising its quarterly dividend by 4.2% to $1.24 a share. The new dividend is payable June 4 to shareholders of record as of May 21.

The stock has fallen 5.8% in the year to date, while the S&P 500 has gained 6%.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Report

Comment3

  • iNkwiziTs
    ·04-16
    Good 👍
    Reply
    Report
  • Andrewinho
    ·04-16
    Great!! 👏👏👏👏👏
    Reply
    Report
  • Andrewinho
    ·04-16
    Great opportunity!! 👏👏👏👏👏
    Reply
    Report
 
 
 
 

Most Discussed

 
 
 
 
 

7x24

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

Company: TTMF Limited. Tech supported by Xiangshang Yixin.

Email:uservice@ttm.financial