Johnson & Johnson Q2 Profit Tops Estimates; Raises 2015 Adj. EPS Guidance

(RTTNews) - Johnson & Johnson (JNJ) reported second-quarter net income of $4.52 billion or $1.61 per share, compared to $4.33 billion or $1.51 per share, prior year. Excluding after-tax intangible amortization expense and special items, adjusted net earnings were $4.8 billion and adjusted earnings per share were $1.71, for the quarter. On an operational basis, adjusted earnings per share was $1.90.

On average, 15 analysts polled by Thomson Reuters expected the company to report profit per share of $1.67 for the quarter. Analysts' estimates typically exclude special items. Sales to customers decreased to $17.79 billion from $19.50 billion last year. Analysts expected revenue of $17.75 billion for the quarter.

Operational results decreased 0.9% and the negative impact of currency was 7.9%. Domestic sales decreased 2.4%. International sales decreased 14.3%, reflecting operational growth of 0.5% and a negative currency impact of 14.8%.

Excluding the net impact of acquisitions and divestitures, on an operational basis, worldwide sales increased 1.7%, domestic sales increased 0.6% and international sales increased 2.7%. Additionally excluding hepatitis C sales, underlying operational growth worldwide was 5%.

The company increased its adjusted earnings guidance for full-year 2015 to $6.10 - $6.20 per share. The company noted that its guidance excludes the impact of after-tax intangible amortization expense and special items. Analysts expect the company to report full year 2015 earnings per share of $6.14.