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Dec 31, 2023
Johnson & Johnson Q4 2023 Earnings Report
Reported sales growth and EPS increased.
Key Takeaways
Johnson & Johnson reported a 7.3% increase in fourth-quarter sales, reaching $21.4 billion, and a 39.3% increase in EPS to $1.70 and adjusted EPS of $2.29 increasing by 11.7%. The company re-confirmed its 2024 guidance with operational sales growth of 5.0% - 6.0% and adjusted operational EPS of $10.55 - $10.75.
Fourth-Quarter sales grew by 7.3% to $21.4 billion.
EPS increased by 39.3% to $1.70, and adjusted EPS increased by 11.7% to $2.29.
Full-Year sales grew by 6.5% to $85.2 billion.
Company re-confirms guidance for 2024 with operational sales growth of 5.0% - 6.0% and adjusted operational EPS of $10.55 - $10.75.
Forward Guidance
Johnson & Johnson re-confirms guidance for 2024 with operational sales growth of 5.0% - 6.0% and adjusted operational EPS of $10.55 - $10.75, reflecting growth of 7.4% at the mid-point.
Positive Outlook
- Operational sales growth of 5.0% - 6.0%.
- Adjusted operational EPS of $10.55 - $10.75.
- Growth of 7.4% at the mid-point.
- Projected Average Shares Outstanding (Diluted) reflects impact from the Kenvue exchange offer
- Company is confident in its ability to lead the next wave of health innovation.
Challenges Ahead
- The company is unable to predict with reasonable certainty the ultimate outcome of legal proceedings.
- The company is unable to predict with reasonable certainty unusual gains and losses.
- The company is unable to predict with reasonable certainty acquisition-related expenses.
- The company is unable to predict with reasonable certainty purchase accounting fair value adjustments without unreasonable effort.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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