Johnson & Johnson Backs FY24 Earnings View, Sales To Rise

(RTTNews) - Johnson & Johnson (JNJ) reconfirmed its full-year 2024 earnings guidance, after it reported higher earnings for the fourth quarter on Tuesday.

Excluding items, for the full year 2024, the company continues to expect adjusted operational income per share of $10.55 to $10.75, with $10.65 as mid point.

On average, 17 analysts polled by Thomson Reuters expect the company to post income per share of $10.67 for the year. Analysts' estimates typically exclude special items.

For the full year 2024, the healthcare products maker projects reported sales of $87.8 billion - $88.6 billion, with $88.2 billion as mid-point, in line with the analysts' consensus of $87.97 billion.

For the full year 2023, JNJ recorded adjusted income per share of $9.92 on sales of $85.159 billion.

The company's bottom line for the fourth quarter came in at $4.132 billion, or $1.70 per share. This compares with $3.227 billion, or $1.22 per share, in last year's fourth quarter. The company's revenue for the quarter rose 7.3% to $21.395 billion from $19.939 billion last year.

JNJ was trading down by 0.20 percent at $162.15 per share in the pre-market trade on the New York Stock Exchange.