Earnings Turnaround For Johnson & Johnson With Q1 2024 Financial Results

person using MacBook Pro on table

 Image Source: Unsplash
 

  • On April 16th, Johnson & Johnson reported its latest financial results.
  • The figures represented a welcome turnaround compared to Q1 of 2023.
  • Among other highlights was its 2.3% rise in global sales, compared with last year's losses.

Pharmaceutical and consumer staples titan Johnson & Johnson reported its Q1 2024 financial results before US markets opened this morning.

Johnson & Johnson announced a significant turnaround in its net earnings, with $5.3 billion in net earnings for Q1 from continuing operations, versus the $491 million loss of Q1 2023 for the same category.

This was off the back of a 2.3% rise in sales to $21.4 billion globally, with an operational growth of 3.9%.

This showed healthy profit margins for the company, despite restructuring expenses of $27 million in the fiscal first quarter of 2024, which primarily included costs related to market and product exits.

Diluted earnings per share (EPS) came in at $2.20 per share for Q1, or a $2.71 adjusted EPS, compared with 2023’s Q1 adjusted EPS of $2.41.

That same morning, the company declared a 4.2% increase in the quarterly dividend, from $1.19 per share to $1.24 per share, marking the 62nd year of consecutive increases.

Regional results showed that worldwide sales decreased marginally, while international sales increased marginally by 2.3%, and US sales rose by a more robust 7.8%.

The shares of the company were trading well before markets opened on Tuesday, up $147.59 (approximately 0.04%) before Johnson & Johsnon posted their earnings.


More By This Author:

Bitcoin Halving: BTC Liquidates Over $80 Million In Crypto With Drop Below $63,000
GBP/USD Forecast: Pound Sterling Outlook As The DXY Index Spikes
Halving Countdown: Markets Await Bitcoin Halving 2024 With Baited Breath – Here’s What Experts Think

Disclosure: Invezz is a place where people can find reliable, unbiased information about finance, trading, and investing – but we do not offer financial advice and users should always ...

more
How did you like this article? Let us know so we can better customize your reading experience.

Comments

Leave a comment to automatically be entered into our contest to win a free Echo Show.