Johnson & Johnson Coronavirus Vaccine Illustration
Dado Ruvic | Reuters
Johnson & Johnson on Tuesday reported fourth-quarter earnings and revenue that exceeded Wall Street expectations. The company also said it will soon release key details about its coronavirus vaccine.
Here’s how J&J fared compared to what Wall Street expected, according to average estimates compiled by Refinitiv:
- Adjusted EPS: $ 1.86 per share versus $ 1.82 expected.
- Revenue: $ 22.48 billion versus $ 21.67 billion.
“I am incredibly proud of our Johnson & Johnson teams around the world who have provided in addition to the needs of stakeholders,” J&J CEO Alex Gorsky said in a press release. “We are continuing to make progress with our COVID-19 vaccination candidate and look forward to sharing details from our Phase 3 study soon.”
J & J’s share price was essentially level in the market trading following the report.
The pharmaceutical company J & J, which works on a coronavirus vaccine, generated $ 12.26 billion in revenue, an increase of 16% year-on-year. The company’s consumer unit, which manufactures products such as Listerine, generated $ 3.6 billion in revenue, up 1.4% from a year earlier. Its medical device unit generated $ 6.58 billion, down 0.7%.
The company forecasts 2021 adjusted earnings between $ 9.40 and $ 9.60 per share.
J&J is expected to release data from its phase three trial on the testing of its Covid-19 vaccine this week.
U.S. officials and analysts on Wall Street expect federal approval of J & J’s vaccine, which could happen as early as next month. Unlike Pfizer and Moderna’s authorized vaccines, which require two doses that are given approximately three to four weeks apart, J&J requires only one dose. This means that patients do not have to come back for another dose, which simplifies the logistics for healthcare providers.