Johnson & Johnson Inc. (JNJ) – Get report earned a stronger-than-expected fourth quarter on Tuesday, saying it will soon provide an update on vaccine progress.
Johnson & Johnson said adjusted earnings for the three months ended December were set at $ 1.86 cents a share, down 1.1 percent from the same period last year, but four cents off Street. consensus forecast. Revenue from the group rose 8.3% to $ 22.5 billion, according to Johnson & Johnson, reflecting analysts’ estimates of $ 21.67 billion.
The consumer brands and healthcare group said it sees adjusted earnings growth of 16.4% for the 2021 year, or $ 9.40 to $ 9.60 per share, along with sales growth of around 8.8%.
“Our remarkable performance throughout the year reflects the continued confidence of patients, physicians, customers and consumers in our life-enhancing products and medicines, especially during the COVID-19 pandemic,” said CEO Alex Gorsky.
‘I’m incredibly proud of our Johnson & Johnson teams around the world because they have done everything above all else to meet the needs of stakeholders. These efforts and our commitment to families around the world as the largest broad-based healthcare company have enabled us to lead the fight against COVID-19, “he added. We continue to advance our COVID-19 vaccine candidate and look forward to sharing details from our Phase 3 study soon. Johnson & Johnson was built for such times, and I am very confident in our ability to deliver lasting value and sustained innovation in 2021 and for years to come. ‘
Johnson & Johnson’s shares were up 3.6% higher in early trading following the release of $ 171.45 each, which increased the stock’s six-month gain to around 15%.
Pharmaceutical sales led to gains in the sector, rising 16.3% from last year to $ 12.27 billion, driven by solid revenues from Stelara treatment for immune-mediated inflammatory diseases, and Imbruvica, the blood cancer drug.
This helped a 0.7% drop in medical equipment revenue, which stood at $ 6.59 billion, and a modest 1.4% increase in consumer health sales, to $ 3.62 billion .