Johnson & Johnson Boosts FY20 Outlook - Quick Facts

(RTTNews) - While reporting financial results for the second quarter, healthcare company Johnson & Johnson (JNJ) on Thursday raised its earnings and sales forecast for the full year 2020.

For fiscal 2020, the company now projects adjusted earnings in a range of $7.75 to $7.95 per share and adjusted operational earnings in a range of $7.85 to $8.05 per share.

The company previously expected adjusted earnings in the range of $7.50 to $7.90 per share and adjusted operational earnings in the range of $7.65 to $8.05 per share.

Additionally, the company now projects reported sales between $79.9 billion and $81.4 billion, operational sales between $81.0 billion and $82.5 billion and adjusted operational sales change between a decline of 0.8 percent and a growth of 1.0 percent.

Earlier, the company forecast reported sales between $77.5 billion and $80.5 billion, operational sales between $79.2 billion and $82.2 billion and adjusted operational sales change between a decline of 3.0 percent and a growth of 0.5 percent.

On average, 19 analysts polled by Thomson Reuters expect the company to report earnings of $7.73 per share on a revenue decline of 3.1 percent to $79.54 billion. Analysts' estimates typically exclude special items.

"Our second quarter results reflect the impact of COVID-19 and the enduring strength of our Pharmaceutical business, where we saw continued growth even in this environment," said Alex Gorsky, Chairman and Chief Executive Officer.