Johnson & Johnson Stock Rises On Q3 Sales Beat And Guidance Raise -- MarketWatch

MarketWatch · 10/15 10:50

Johnson & Johnson (JNJ) shares rose 1.5% in premarket trades Tuesday after the drugmaker reported better-than-expected third-quarter sales and raised full-year revenue guidance. Net income was $2.694 billion, or $1.11 a share, down from $4.309 billion, or $1.69 a share, in the prior year's quarter, with Johnson & Johnson citing the impact of a one-time special charge and acquired In-Process Research and Development, or IPR&D. Excluding nonrecurring items, such as asset amortization and acquisition-related costs, adjusted earnings per share were $2.42, down from $2.66 in the same period last year, but above the FactSet consensus of $2.21. Reported sales grew 5.2% to $22.471 billion. Analysts surveyed by FactSet were looking for sales of $22.17 billion. The company increased its full-year operational sales guidance to between $89.4 billion and $89.8 billion, from its prior forecast of $89.2 billion to $89.6 billion. Johnson & Johnson also updated its adjusted operational earnings guidanceto$9.86 to $9.96 a share from its prior outlook of $10.00 to $10.10 a share. The company said this reflects the impact from the recent acquisition of V-Wave.

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October 15, 2024 06:50 ET (10:50 GMT)