Johnson & Johnson (LIM:JNJ)

$ 165 0 (0%) Market Cap: 396.33 Bil Enterprise Value: 412.34 Bil PE Ratio: 10.88 PB Ratio: 5.55 GF Score: 59/100

Q1 2024 Johnson & Johnson Earnings Call Transcript

Apr 16, 2024 / 12:30 PM GMT

Release Date Price: $149

Transcript 10-Q8-K8-K

Key Points

Positve

Worldwide sales increased by 3.9%, with a notable growth of 7.8% in the U.S.
Adjusted net earnings and adjusted diluted earnings per share increased by 3.8% and 12.4%, respectively, compared to the first quarter of 2023.
Innovative Medicine sales grew by 2.5% worldwide, driven by key brands and uptake from recently launched products.
MedTech sales increased by 6.3% worldwide, with strong growth in the U.S. and outside of the U.S.
Successful regulatory and clinical milestones were achieved, including FDA approvals and positive study results for multiple products.

Negative

Sales outside of the U.S. declined by 0.3%, indicating challenges in international markets.
Excluding the impact of the COVID-19 vaccine, sales growth in Europe was only 6%, showing a potential slowdown.
Unfavorable patient mix in XARELTO and competitive pressures led to decreased sales in some areas of the Innovative Medicine business.
Contact Lenses declined by 2.3%, driven by U.S. stocking dynamics and partially offset by product performance.
The effective tax rate increased to 16.5% from 15.9% in the same period last year, indicating a higher tax burden.

Refinitiv StreetEvents Event Transcript
P R E L I M I N A R Y V E R S I O N

JNJ.N - Johnson & Johnson
Q1 2024 Johnson & Johnson Earnings Call
Apr 16, 2024 / 12:30PM GMT

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Conference Call Participants
=====================
* >>Jessica Moore - Head of IR
* >>Joseph Wolk - CFO
* >>Terence Flynn - Morgan Stanley, Research Division
* >>Joaquin Duato - CEO
* >>Jennifer Taubert - Senior Key Executive
* >>Lawrence Biegelsen - Wells Fargo Securities, LLC, Research Division
* >>Timothy Schmid - Senior Key Executive
* >>Christopher Schott - JPMorgan Chase & Co, Research Division
* >>Joanne Wuensch - Citigroup Inc., Research Division
* >>Danielle Antalffy - UBS Investment Bank, Research Division
* >>John Reed - Senior Key Executive
* >>Matthew Miksic - Barclays Bank PLC, Research Division
* >>Vamil Divan - Guggenheim Securities, LLC, Research Division

=====================
Presentation
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