Johnson & Johnson Posts Mixed Earnings, Shifts Full-Year Guidance

Johnson & Johnson (JNJ) reported mixed second-quarter results Wednesday, arsenic one-time costs caused nan institution to miss profit estimates contempt better-than-expected sales.

Sales of nan company's pharmaceuticals and aesculapian devices roseate conscionable complete 4% from nan aforesaid clip past twelvemonth to $22.45 billion, amended than nan $22.38 cardinal analysts had expected, according to statement estimates compiled by Visible Alpha. However, profits fell short of estimates owed to various one-time costs for illustration ineligible fees and asset amortization costs.

Johnson & Johnson reported $4.69 cardinal successful nett income, short of nan $5.66 cardinal analysts had expected. After accounting for nan one-time expenses, however, nan institution posted $6.84 cardinal successful adjusted nett income, aliases $2.82 per share, amended than nan $6.59 cardinal and $2.71 per stock analysts had anticipated.

JNJ Lifts Full-Year Sales Guidance But Lowers Profit Projections

The institution besides shifted its full-year guidance from nan past clip it updated nan projections to relationship for nan financial impact of caller acquisitions, raising its expectations for income while besides projecting little profits than it had previously.

For nan afloat fiscal year, Johnson & Johnson projects operational income from $89.2 cardinal to $89.6 billion, supra nan erstwhile scope of $88.7 cardinal to $89.1 cardinal guided successful April. However, nan institution besides lowered projections for adjusted earnings per stock (EPS) to a scope of $9.97 to $10.07 from $10.57 to $10.72.

Analysts presently task income of $88.58 cardinal and adjusted EPS of $10.42 for nan afloat year, according to estimates compiled by Visible Alpha.

Shares roseate 2% arsenic markets opened Wednesday to $154.24 but are somewhat antagonistic for 2024.