Johnson and Johnson (JNJ) – Johnson & Johnson reported better-than-expected second-quarter results on Tuesday, but cut its full-year sales and earnings forecast due to the impact of a stronger dollar.
Adjusted earnings for the three months through June were $2.59 a share, up 4.4% from a year earlier and beating Wall Street’s consensus estimate by 5 cents, according to Johnson and Johnson. Group sales rose 3 percent to $24 billion, according to Johnson & Johnson, a figure that also beat analysts’ estimates of $23.81 billion.
Drug sales rose 6.7% to $13.332 billion, while sales of Covid vaccines more than doubled year-over-year to $544 million, according to Johnson and Johnson.
Looking ahead to fiscal 2022, J&J has lowered its guidance for adjusted earnings to $10.00 to $10.10 per share, on revenue of $93.3 billion to $94.3 billion, from its previous guidance of $10.15 to $10.35 per share. That was lower than a previous estimate of $94.8 billion to $95.8 billion, although the total included vaccine sales.
A stronger dollar erodes the value of foreign sales, making it more expensive to repatriate profits to foreign markets. The U.S. dollar index, which tracks the greenback against a basket of six major global currencies, has gained more than 12 percent so far this year, hitting a 20-year high earlier this month.
Johnson & Johnson shares fell 0.22% in early trade Tuesday to change hands at $174.10 immediately after the earnings report, paring a year-to-date gain of about 3%.
Узнать больше:
-
-
-
-
Обзор карты Delta Skymiles® Reserve American Express – см. больше.
-
-
Награды по карте Discover it® Rewards узнайте, как это работает
