Johnson & Johnson Raises Guidance For 2023 Adj. Operational EPS, Adj. Operational Sales

(RTTNews) - Johnson & Johnson (JNJ) reported second-quarter adjusted EPS of $2.80, up 8.1% from a year ago. Adjusted operational sales were up 6.2% from a year ago. Operational growth excluding COVID-19 Vaccine was 8.9%, for the quarter.

Looking forward, the company raised 2023 full-year guidance midpoints for adjusted operational sales excluding COVID-19 Vaccine and adjusted operational EPS. The company now expects adjusted operational EPS in a range of $10.60 - $10.70, revised from prior guidance range of $10.50 - $10.60. The company now estimates operational sales excluding COVID-19 Vaccine in a range of $99.3 billion - $100.3 billion, updated from prior guidance range of $97.9 billion - $98.9 billion. Adjusted operational sales growth are now expected to grow in a range of 6.0% - 7.0%, revised from prior guidance range of 4.5% - 5.5%.

Second quarter net earnings was $5.14 billion, up 6.9% from a year ago. Earnings per share was $1.96, up 8.9%. Sales were up 6.3% to $25.5 billion.

Johnson & Johnson also announced that its Board has declared a cash dividend for the third quarter of 2023 of $1.19 per share on common stock. The dividend is payable on September 7, 2023 to shareholders of record at the close of business on August 28, 2023. The ex-dividend date is August 25, 2023.

Shares of Johnson & Johnson are up 1% in pre-market trade on Thursday.

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