Johnson & Johnson Company Earnings Send Shares to All-Time High

Before you go, we thought you'd like these...
Before you go close icon

Johnson & Johnson LogoJohnson & Johnson (NYSE: JNJ) reported second-quarter 2013 results before markets opened this morning. The health care giant reported quarterly adjusted diluted earnings per share (EPS) of $1.48 on revenue of $17.9 billion. In the same period a year ago, J&J reported EPS of $1.30 on revenue of $16.5 billion. Second-quarter results also compare to the consensus estimates for EPS of $1.39 on revenue of $17.71 billion.

On a GAAP basis the company posted EPS of $1.33, which excludes litigation expenses, integration expenses related to the acquisition of Synthes and program costs for the DePuy Hip program.

J&J boosted its earnings guidance for the full year to an adjusted EPS of $5.40 to $5.47. The consensus estimate had called for EPS of $5.41 on revenues of $70.81 billion. For the first six months of the year, the company has posted revenues of $35.38 billion and diluted GAAP EPS of $2.55.

The firm's CEO said:

Our strong second-quarter results reflect the progress we've made against our near-term priorities of delivering on our financial commitments, restoring a reliable supply of over-the-counter products to consumers, continuing the successful integration of Synthes and building on the momentum in our pharmaceutical business

Worldwide consumer sales rose 1.1% year-over-year to $3.7 billion, including a negative currency impact of 0.6%. Pharmaceutical sales rose 11.7% to $7 billion. Medical devices and diagnostics sales rose 9.6% to $7.2 billion.

J&J raised its quarterly dividend to $0.66 a share in May.

Shares are trading about 1% higher in the premarket this morning, at $91.30, a new 52-week and all-time high if it holds. The current 52-week range is $66.85 to $90.81. Thomson Reuters had a consensus analyst price target of around $89.20 before today's results were announced.

Filed under: Healthcare (Business) Tagged: JNJ
Read Full Story

Sign up for Finance Report by AOL and get everything from business news to personal finance tips delivered directly to your inbox daily!

Subscribe to our other newsletters

Emails may offer personalized content or ads. Learn more. You may unsubscribe any time.

People are Reading