Johnson & Johnson Posts Higher Quarterly Sales Despite Strong Dollar
J&J posted a quarterly profit of $4.46 billion, or $1.68 a share, up from $3.67 billion, or $1.37 a share, a year earlier. FILE
Photo:
Mike Segar/REUTERS
Johnson & Johnson
JNJ 1.30%
posted higher sales for the recently ended quarter even as the stronger U.S. dollar dented results.
The New Brunswick, N.J.-based healthcare-products company on Tuesday lowered its full-year sales guidance on the continuing impact of the runup in the dollar relative to other currencies around the world.
In the third quarter, J&J posted a quarterly profit of $4.46 billion, or $1.68 a share, up from $3.67 billion, or $1.37 a share, a year earlier. Adjusted for one-time costs, J&J’s per-share profit was $2.55. Wall Street analysts had been forecasting an adjusted profit of $2.48, according to FactSet.
Overall sales rose a little less than 2% to $23.79 billion. The company estimates that currency adjustments lowered worldwide sales growth by 6.2%. Analysts surveyed by FactSet were expecting quarterly sales of $23.36 billion.
The company cut its full-year sales guidance to a range of $93 billion to $93.5 billion, excluding sales from the company’s Covid-19 vaccine. In July, J&J guided for full-year sales of $93.3 billion to $94.3 billion.
J&J narrowed its guidance for full-year operational sales, which also excludes the impact from currency-fluctuations, to a range of $97.5 billion to $98 billion.
The company also narrowed its adjusted earnings guidance to a range of $10.02 a share to $10.07 a share.
Shares of J&J rose more than 2% in premarket trading to $170.19. So far this year, the stock was down almost 3% as of Monday’s closing price.
Write to Will Feuer at [email protected]
Copyright ©2022 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
J&J posted a quarterly profit of $4.46 billion, or $1.68 a share, up from $3.67 billion, or $1.37 a share, a year earlier. FILE
Photo:
Mike Segar/REUTERS
Johnson & Johnson
JNJ 1.30%
posted higher sales for the recently ended quarter even as the stronger U.S. dollar dented results.
The New Brunswick, N.J.-based healthcare-products company on Tuesday lowered its full-year sales guidance on the continuing impact of the runup in the dollar relative to other currencies around the world.
In the third quarter, J&J posted a quarterly profit of $4.46 billion, or $1.68 a share, up from $3.67 billion, or $1.37 a share, a year earlier. Adjusted for one-time costs, J&J’s per-share profit was $2.55. Wall Street analysts had been forecasting an adjusted profit of $2.48, according to FactSet.
Overall sales rose a little less than 2% to $23.79 billion. The company estimates that currency adjustments lowered worldwide sales growth by 6.2%. Analysts surveyed by FactSet were expecting quarterly sales of $23.36 billion.
The company cut its full-year sales guidance to a range of $93 billion to $93.5 billion, excluding sales from the company’s Covid-19 vaccine. In July, J&J guided for full-year sales of $93.3 billion to $94.3 billion.
J&J narrowed its guidance for full-year operational sales, which also excludes the impact from currency-fluctuations, to a range of $97.5 billion to $98 billion.
The company also narrowed its adjusted earnings guidance to a range of $10.02 a share to $10.07 a share.
Shares of J&J rose more than 2% in premarket trading to $170.19. So far this year, the stock was down almost 3% as of Monday’s closing price.
Write to Will Feuer at [email protected]
Copyright ©2022 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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