Johnson & Johnson (JNJ) reported earnings exceeding analyst estimates reporting an adjusted EPS of $2.48 per share vs $2.27 expected. Revenue of $23.31 billion was reported, versus $22.21 billion expected. Johnson expects to sell $2.5 billion of its Covid-19 vaccine this year, even as its effectiveness against the delta variant is under question. Its pharmaceutical unit, which developed the single-shot Covid vaccine, reported $12.59 billion in revenue, a 17.2% year-over-year increase.
Key Release Highlights:
- The company’s consumer unit, which makes products such as Neutrogena face wash and Listerine, generated $3.7 billion in revenue, up 13.3% from a year earlier.
- Its medical device unit reported $6.9 billion, a 62.7% increase.
- Global sales of the Covid vaccine in the second quarter were $164 million.
- The company revised its outlook for the year and now expects revenue from $92.5 billion to $93.3 billion, higher than its prior forecast of $89.3 billion to $90.3 billion.
- A full-year profit of $9.50 to $9.60 per share is expected, in comparison to its earlier forecast of $9.30 to $9.45 per share.
The earnings results come a day after a new study reported that the J&J vaccine is less effective against the delta and lambda variants than the earlier virus strain. According to the Centers for Disease Control and Prevention, Delta, a dominant variant in the U.S., now accounts for an estimated 83% of infections in the nation. Researchers are now suggesting that a booster dose may be needed for J&J recipients.
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. To learn more about Johnson & Johnson (JNJ) and to continue to track its progress visit the Vista Partners Johnson & Johnson Coverage Page.
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