The world’s largest healthcare company and dividend aristocrat Johnson & Johnson (JNJ) beat earnings expectations but missed on revenue as revenue increases 1.8% year-on-year while adjusted earnings-per-share fell 4.6%.
JNJ reported revenue of $20.75 billion, which was just $80 million below the average Wall Street estimate. The adjusted earnings of $1.88 per share surpassed expectations ($1.87). Sales of its blockbuster psoriasis medicine Stelara and cancer drug Imbruvica fell short of expectations.
The 2019 Full-Year EPS of $5.63 increased by 0.4% and the adjusted EPS of $8.68 increased by 6.1%.
Johnson & Johnson projects continued sales and earnings growth in 2020 guidance. “As we enter into 2020 and this next decade, our strategic investments focused on advancing our pipelines and driving innovation across our entire product portfolio, position us well to deliver long-term sustainable growth and value to our shareholders.”, said Alex Gorsky, Chairman and Chief Executive Officer.
Based on the last closing price of $148.25, the forward dividend and yield are $3.80 (2.55%).
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