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Jun 30, 2020
Johnson & Johnson Q2 2020 Earnings Report
Johnson & Johnson's performance was impacted by COVID-19 but demonstrated strength in the Pharmaceutical business.
Key Takeaways
Johnson & Johnson reported a decrease in sales and EPS for the second quarter of 2020, primarily due to the negative impact of the COVID-19 pandemic. However, the Pharmaceutical business showed continued growth.
Sales declined by 10.8%, with an operational decline of 9.0% due to COVID-19.
EPS decreased by 34.6% to $1.36, and adjusted EPS decreased by 35.3% to $1.67.
Pharmaceutical business showed continued growth.
Company increased full year sales and EPS guidance.
Forward Guidance
Johnson & Johnson updated its full-year 2020 guidance, reflecting the estimated impact of the COVID-19 pandemic.
Positive Outlook
- Adjusted Operational Sales Change vs. Prior Year: (0.8%) - 1.0%
- Operational Sales: $81.0 to $82.5 billion
- Operational Sales Change vs. Prior Year: (1.3%) - 0.5%
- Estimated Reported Sales Change vs. Prior Year: (2.6%) - (0.8%)
- Adjusted Operational EPS (Diluted) Change vs. Prior Year: (9.6%) - (7.3%)
Challenges Ahead
- Estimated Reported Sales: $79.9 to $81.4 billion
- Adjusted EPS (Diluted) Change vs. Prior Year: (10.7%) - (8.4%)
- Adjusted Operational EPS (Diluted): $7.85 to $8.05
- Adjusted EPS (Diluted): $7.75 to $7.95
- Sales of $18.3 billion reflecting a decline of 10.8%
Historical Earnings Impact
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Avg. Return Before/After Earnings
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