Johnson & Johnson (NYSE:JNJ) early Tuesday posted mixed first quarter earnings results, but said its guidance remains unchanged as it works to fully integrate a big recent acquisition.
Written by StockNews.com
The New Brunswick, NJ-based diversified healthcare giant reported:
Q1 earnings per share (EPS) of $1.83, which was $0.06 better than the Wall Street consensus estimate of $1.77.
Revenues rose 1.6% from last year to $17.77 billion, however, missing analysts’ view for $18.02 billion.
Worldwide Consumer sales, which include products like Band-Aids and dental floss, rose 1% from last year to $3.2 billion, with domestic sales up 4.1% but international sales down 1.3%.
Worldwide Pharmaceutical sales edged 0.8% from last year to $8.2 billion.
Domestic sales of pharma products fell 1.3%, but international sales gained 4.1%.
Worldwide Medical Devices sales gained 3% to $6.3 billion, with domestic sales up 2.2% and international sales gaining 3.8%.
Looking ahead, JNJ said that:
its recent acquisition of Actelion should close during the current second quarter. As a result,
it expects Q2 EPS of $7.00 to $7.15, while analysts are looking for $7.08 and that
full-year 2017 revenues are expected to range from $75.4 to $76.1 billion, slightly ahead of Wall Street’s current $75.21 billion view.
The company also commented that it remains on track to hit its previously announced earnings forecast:
“Johnson & Johnson’s first-quarter results are in line with our expectations and we are confident we will achieve the full-year financial guidance we established at the beginning of the year.”
Johnson & Johnson shares rose $0.19 (+0.15%) in premarket trading Tuesday. Year-to-date, JNJ had gained 9.84% prior to today’s report, versus a 5.40% rise in the benchmark S&P 500 index during the same period.
JNJ currently has a StockNews.com POWR Rating of A (Strong Buy), and is ranked #1 of 135 stocks in the Medical – Pharmaceuticals category.
