16 Oct

Johnson & Johnson Reports Strong Q3 Results, Stock Rises

WRITTEN BY Sarah Collins

Johnson & Johnson’s third-quarter earnings

Johnson & Johnson (JNJ) reported its third-quarter earnings results before the market opened today. It reported sales of $20.3 billion, up ~3.6% YoY (year-over-year). Its sales exceeded analysts’ estimate by ~1.5%. Its adjusted EPS for the third quarter was $2.05, a YoY rise of ~7.9%. It came in ahead of analysts’ estimate of $2.03.

Johnson & Johnson Reports Strong Q3 Results, Stock Rises

JNJ stock is trading higher today on strong third-quarter results. It has risen ~2.1% so far today in afternoon trading.

Operational sales growth

Johnson & Johnson registered an operational sales growth of 5.5% in the third quarter. Its consumer business had sales of $3.4 billion, up ~4.9% YoY on an operational basis. The medical device business showed a weakness during the quarter and reported sales of $6.6 billion, up ~1.7% on an operational basis.

Johnson & Johnson’s Pharmaceutical sales led the company’s strong third-quarter performance, coming in at $10.4 billion, a YoY rise of ~8.2% on an operational basis. Its oncology drugs continued to be its major growth driver. The prostate cancer drug Zytiga, a blood cancer drug Imbruvica, and multiple myeloma drug Darzalex reported sales of $958 million, $705 million, and $498 million, respectively. Those sales represented YoY operational growth of 44.5%, 40.4%, and 60%, respectively. However, Velcade sales continued to be flat in the quarter.

Johnson & Johnson Reports Strong Q3 Results, Stock Rises

Increased fiscal 2018 guidance

Johnson & Johnson also raised its fiscal 2018 guidance today. The company now expects to fiscal 2018 sales of $81 billion–$81.4 billion. That compares to its previous guidance of $80.5 billion–$81.3 billion.

The company expects to fiscal 2018 adjusted EPS of $8.13–$8.18, which compares to its previous guidance of $8.07–$8.17. It estimates an improvement of at least 150 basis points in its adjusted pre-tax operating margin for fiscal 2018.

Be sure to check out all the data we’ve added to our quote pages. Now you can get a valuation snapshot, earnings and revenue estimates, and historical data, as well as dividend information. Take a look!

Latest articles

After Aurora Cannabis's Q1 earnings release on Thursday, its stock closed at $3.29 on the NYSE, 7.32% lower than the previous day.

Beyond Meat stock rose 1.8% on November 14 after Berenberg initiated coverage on it with a “buy” rating. Berenberg gave it a price target of $100.

With a year-to-date return of 21.9%, JetBlue Airways (JBLU) stock is one of the airline industry's top performers. Here are analysts' views on the stock.

In today’s Get Real, we saw Facebook's latest scandal, a new deal for Netflix, and AMD's game plan. Plus, a trader's guide to the commodities market.

JD.com (JD) shares are trading close to 3% higher in early market trading. The company announced its third-quarter results today.

Microsoft recently secured a $10 billion Pentagon contract. It beat out cloud computing leader Amazon, which is contesting the results.