J&J Exceeds Q3 Expectations/Raises Full-Year Forecasts In the Face Of Legal Issues

By John Heerdink LinkedIn

Dow 30 component Johnson & Johnson (JNJ) is a worldwide healthcare focused company that embraces research and science so that it can provide customers with innovative ideas, products, and services.

On Tuesday, Johnson & Johnson reported their successful Q3 earnings, confirming that they had performed above expectations amid lawsuits and multimillion-dollar legal problems from their products i.e. talc & opioids. The company went on to raise its full-year earnings forecast from $8.53 to $8.63 per share to $8.62 to $8.67 per share resulting in a revenue of range of $81.8 billion to $82.3 billion.

Highlights from the earnings release:

• Adjusted earnings per share of $2.12 and revenue of $20.73 were reported, beating Wall Street estimates at $2.01 and $20.07 billion respectively based on a survey of analysts by Refinitiv.
• J&J’s pharmaceutical business, which contributes to half of the company’s revenue, generated $10.88 billion.
• J&J’s consumer unit, dealing in beauty products such as Neutrogena, noted revenue of $3.46 billion, meeting Wall Street’s expectations.
• The medical device unit recorded a revenue of $6.3 billion, exceeding analysts’ expectations at $6.27 billion.
• Litigation expenses for the third quarter were not reported.
• Shares of J&J increased by 1.8% in premarket trading.

“Our third-quarter results represent strong performance, driven by competitive underlying growth in Pharmaceuticals and Medical Devices, as well as continued optimization in our Consumer business,” stated Alex Gorsky, Chairman, and CEO, J&J.

To learn more about Johnson & Johnson (JNJ) and to continue to track its progress visit the Vista Partners Johnson & Johnson Coverage Page.

Vista Partners LLC (”Vista”) is a California Registered Investment Advisor based in San Francisco. Vista delivers timely and relevant insights via the website: www.vistapglobal.com with daily stories, weekly market updates, monthly macroeconomic newsletters, podcasts, & Vista’s proprietary equity and market research to help you stay informed and stay competitive. Vista’s mission is to invest partner capital while arming investors with a comprehensive global financial perspective across all market sectors. Vista also seeks to provide select issuers with actionable advice regarding fundamental development, corporate governance, and capital market directives.

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(Read Original Story: Johnson & Johnson earnings beat expectations despite legal challenges from opioids and talc in CNBC)


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