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Johnson & Johnson (NYSE:JNJ) stock is trading higher premarket on Tuesday after the company’s Q4 results and an EPS outlook seen above estimates.
Q4 adjusted EPS grew +10.3% Y/Y to $2.35, beating analysts expectations. However, reported sales declined -4.4% Y/Y to $23.71B, and missed estimates.
The company said the decline in sales was driven by unfavorable foreign exchange and reduced COVID-19 vaccine sales compared to prior year. Operational growth excluding COVID-19 vaccine was +4.6% Y/Y.
Sales from the Pharmaceutical division in Q4 declined -7.4 Y/Y to $13.16B.
Q4 COVID-19 Vaccine sales were only internationally and not in the U.S. and generated $689M, falling -57.4% Y/Y.
Worldwide sales of blood cancer drug DARZALEX, developed with Genmab (GMAB), grew +26.6 Y/Y to ~$2.08B. For full year sales were $7.98B.
Global sales of Stelara, which treats immune-mediated inflammatory diseases, rose +2.3% Y/Y to ~$2.39B.
Lymphoma drug Imbruvica sales declined -18.5% Y/Y to $866M. Remicade sales fell -37.8% Y/Y to $475M.
Plaque psoriasis therapy Tremfya grew +8.5 Y/Y to $752M. Global sales of anticoagulant drug XARELTO increased by +3.4% Y/Y to $667M.
J&J’s Consumer Health segment sales in Q4 increased +1% Y/Y to ~$3.77B predominately driven by over-the-counter (OTC) products.
Sales from MedTech segment fell -1.2% Y/Y to $6.78B.
Outlook:
J&J expects FY2023 adjusted EPS outlook to be between $10.45 and $10.65 (consensus for 2023 is $10.33).
The company expects full year 2023 Operational Sales to be between $96.9B and $97.9B (consensus for 2023 is $97.73B).
JNJ +2.19% to $172 premarket Jan. 24
