For immediate release
$22,447 | $ 21,519 | 4.3% |
$4,686 | $5,376 | (12.8)% |
$1.93 | $2.05 | (5.9)% |
6.6%
6.5%
7.1%
$6,840 $6,730 1.6%
$2.82 $2.56 10.2%
$12,569 | $11,657 | 7.8% | 7.8 | - | 7.6 |
9,878 | 9,862 | 0.2 | 5.1 | (4.9) | 5.3 |
$22,447 | $21,519 | 4.3% | 6.6 | (2.3) | 6.5 |
$14,490 | $13,731 | 5.5% | 7.8 | (2.3) | 8.0 |
7,957 | 7,788 | 2.2 | 4.4 | (2.2) | 4.0 |
$22,447 | $21,519 | 4.3% | 6.6 | (2.3) | 6.5 |
$10.68
$0.05
$10.73
($0.68)
$10.05
5.5% - 6.0% / 5.8% | 5.5% - 6.0% / 5.8% |
$89.2B - $89.6B / $89.4B | $88.7B - $89.1B / $88.9B |
6.1% - 6.6% / 6.4% | 5.5% - 6.0% / 5.8% |
$88.0B - $88.4B / $88.2B | $88.0B - $88.4B / $88.2B |
4.7% - 5.2% / 5.0% | 4.7% - 5.2% / 5.0% |
$10.00 - $10.10 / $10.05 | $10.60 - $10.75 / $10.68 |
0.8% - 1.8% / 1.3% | 6.9% - 8.4% / 7.7% |
$9.97 - $10.07 / $10.02 | $10.57 - $10.72 / $10.65 |
0.5% - 1.5% / 1.0% | 6.6% - 8.1% / 7.4% |
Johnson & Johnson and Subsidiaries
Supplementary Sales Data
(Unaudited; Dollars in Millions) | SECOND QUARTER | ||||||
Percent Change | |||||||
2024 | 2023 | Total | Operations | Currency | |||
Sales to customers by | |||||||
segment of business | |||||||
Innovative Medicine (1) | |||||||
U.S. | $ | 8,510 | 7,818 | 8.9 | % | 8.9 | - |
International | 5,980 | 5,913 | 1.1 | 6.4 | (5.3) | ||
14,490 | 13,731 | 5.5 | 7.8 | (2.3) | |||
Innovative Medicine excluding COVID-19 Vaccine (1) | |||||||
U.S. | 8,510 | 7,818 | 8.9 | 8.9 | - | ||
International | 5,808 | 5,628 | 3.2 | 8.7 | (5.5) | ||
14,318 | 13,446 | 6.5 | 8.8 | (2.3) | |||
MedTech | |||||||
U.S. | 4,059 | 3,839 | 5.7 | 5.7 | - | ||
International | 3,898 | 3,949 | (1.3) | 3.2 | (4.5) | ||
7,957 | 7,788 | 2.2 | 4.4 | (2.2) | |||
U.S. | 12,569 | 11,657 | 7.8 | 7.8 | - | ||
International | 9,878 | 9,862 | 0.2 | 5.1 | (4.9) | ||
Worldwide | 22,447 | 21,519 | 4.3 | 6.6 | (2.3) | ||
U.S. | 12,569 | 11,657 | 7.8 | 7.8 | - | ||
International | 9,706 | 9,577 | 1.3 | 6.4 | (5.1) | ||
Worldwide excluding COVID-19 Vaccine (1) | $ | 22,275 | 21,234 | 4.9 | % | 7.2 | (2.3) |
Note: Percentages have been calculated using actual, non-rounded figures and, therefore, may not recalculate precisely.
- Refer to supplemental sales information schedules
SIX MONTHS
Percent Change
2024 | 2023 | Total | Operations | Currency |
$ | 16,122 | 14,841 | 8.6 | % | 8.6 | - |
11,930 | 12,303 | (3.0) | 1.0 | (4.0) | ||
28,052 | 27,144 | 3.3 | 5.2 | (1.9) | ||
16,122 | 14,841 | 8.6 | 8.6 | - | ||
11,733 | 11,271 | 4.1 | 8.5 | (4.4) | ||
27,855 | 26,112 | 6.7 | 8.6 | (1.9) | ||
8,067 | 7,598 | 6.2 | 6.2 | - | ||
7,711 | 7,671 | 0.5 | 4.6 | (4.1) | ||
15,778 | 15,269 | 3.3 | 5.4 | (2.1) | ||
24,189 | 22,439 | 7.8 | 7.8 | - | ||
19,641 | 19,974 | (1.7) | 2.4 | (4.1) | ||
43,830 | 42,413 | 3.3 | 5.2 | (1.9) | ||
24,189 | 22,439 | 7.8 | 7.8 | - | ||
19,444 | 18,942 | 2.7 | 6.9 | (4.2) | ||
$ | 43,633 | 41,381 | 5.4 | % | 7.4 | (2.0) |
Johnson & Johnson and Subsidiaries
Supplementary Sales Data
(Unaudited; Dollars in Millions) | SECOND QUARTER | ||||||
Percent Change | |||||||
2024 | 2023 | Total | Operations | Currency | |||
Sales to customers by | |||||||
geographic area | |||||||
U.S. | $ | 12,569 | 11,657 | 7.8 | % | 7.8 | - |
Europe | 5,214 | 5,131 | 1.6 | 3.4 | (1.8) | ||
Western Hemisphere excluding U.S. | 1,212 | 1,136 | 6.7 | 22.6 | (15.9) | ||
Asia-Pacific, Africa | 3,452 | 3,595 | (4.0) | 1.9 | (5.9) | ||
International | 9,878 | 9,862 | 0.2 | 5.1 | (4.9) | ||
Worldwide | $ | 22,447 | 21,519 | 4.3 | % | 6.6 | (2.3) |
Johnson & Johnson and Subsidiaries
Supplementary Sales Data
(Unaudited; Dollars in Millions) | SECOND QUARTER | ||||||
Percent Change | |||||||
2024 | 2023 | Total | Operations | Currency | |||
Sales to customers by | |||||||
geographic area (ex. COVID-19 Vaccine) | |||||||
U.S.* | $ | 12,569 | 11,657 | 7.8 | % | 7.8 | - |
Europe(1) | 5,042 | 4,846 | 4.1 | 6.0 | (1.9) | ||
Western Hemisphere excluding U.S.* | 1,212 | 1,136 | 6.7 | 22.6 | (15.9) | ||
Asia-Pacific, Africa* | 3,452 | 3,595 | (4.0) | 1.9 | (5.9) | ||
International | 9,706 | 9,577 | 1.3 | 6.4 | (5.1) | ||
Worldwide | $ | 22,275 | 21,234 | 4.9 | % | 7.2 | (2.3) |
Note: Percentages have been calculated using actual, non-rounded figures and, therefore, may not recalculate precisely.
- Refer to supplemental sales information schedules *No COVID-19 Vaccine sales
SIX MONTHS
Percent Change | ||||||
2024 | 2023 | Total | Operations | Currency | ||
$ | 24,189 | 22,439 | 7.8 | % | 7.8 | - |
10,377 | 10,721 | (3.2) | (2.4) | (0.8) | ||
2,406 | 2,212 | 8.8 | 21.9 | (13.1) | ||
6,858 | 7,041 | (2.6) | 3.4 | (6.0) | ||
19,641 | 19,974 | (1.7) | 2.4 | (4.1) | ||
$ | 43,830 | 42,413 | 3.3 | % | 5.2 | (1.9) |
SIX MONTHS
Percent Change | ||||||
2024 | 2023 | Total | Operations | Currency | ||
$ | 24,189 | 22,439 | 7.8 | % | 7.8 | - |
10,180 | 9,689 | 5.1 | 6.0 | (0.9) | ||
2,406 | 2,212 | 8.8 | 21.9 | (13.1) | ||
6,858 | 7,041 | (2.6) | 3.4 | (6.0) | ||
19,444 | 18,942 | 2.7 | 6.9 | (4.2) | ||
$ | 43,633 | 41,381 | 5.4 | % | 7.4 | (2.0) |
Johnson & Johnson and Subsidiaries
Condensed Consolidated Statement of Earnings
(Unaudited; in Millions Except Per Share Figures) | SECOND QUARTER | |||||||
2024 | 2023 | Percent | ||||||
Percent | Percent | Increase | ||||||
Amount | to Sales | Amount | to Sales | (Decrease) | ||||
Sales to customers | $ | 22,447 | 100.0 | $ | 21,519 | 100.0 | 4.3 | |
Cost of products sold | 6,869 | 30.6 | 6,462 | 30.0 | 6.3 | |||
Gross Profit | 15,578 | 69.4 | 15,057 | 70.0 | 3.5 | |||
Selling, marketing and administrative expenses | 5,681 | 25.3 | 5,396 | 25.1 | 5.3 | |||
Research and development expense | 3,440 | 15.3 | 3,703 | 17.2 | (7.1) | |||
In-process research and development impairments | 194 | 0.9 | - | 0.0 | ||||
Interest (income) expense, net | (125) | (0.6) | (109) | (0.5) | ||||
Other (income) expense, net | 653 | 2.9 | (384) | (1.8) | ||||
Restructuring | (13) | 0.0 | 145 | 0.7 | ||||
Earnings before provision for taxes on income | 5,748 | 25.6 | 6,306 | 29.3 | (8.8) | |||
Provision for taxes on income | 1,062 | 4.7 | 930 | 4.3 | 14.2 | |||
Net earnings from Continuing Operations | $ | 4,686 | 20.9 | $ | 5,376 | 25.0 | (12.8) | |
Net earnings/(loss) from Discontinued Operations, net of tax | - | (232) | ||||||
Net earnings | $ | 4,686 | $ | 5,144 | ||||
Net earnings per share (Diluted) from Continuing Operations | $ | 1.93 | $ | 2.05 | (5.9) | |||
Net earnings/(loss) per share (Diluted) from Discontinued Operations | $ | - | $ | (0.09) | ||||
Average shares outstanding (Diluted) | 2,422.0 | 2,625.7 | ||||||
Effective tax rate from Continuing Operations | 18.5 % | 14.7 % | ||||||
Adjusted earnings from Continuing Operations before provision for taxes and net earnings (1) | ||||||||
Earnings before provision for taxes on income from Continuing Operations | $ | 8,404 | 37.4 | $ | 8,005 | 37.2 | 5.0 | |
Net earnings from Continuing Operations | $ | 6,840 | 30.5 | $ | 6,730 | 31.3 | 1.6 | |
Net earnings per share (Diluted) from Continuing Operations | $ | 2.82 | $ | 2.56 | 10.2 | |||
Effective tax rate from Continuing Operations | 18.6 % | 15.9 % |
(1) See Reconciliation of Non-GAAP Financial Measures.
Johnson & Johnson and Subsidiaries
Condensed Consolidated Statement of Earnings
(Unaudited; in Millions Except Per Share Figures) | SIX MONTHS | |||||||
2024 | 2023 | Percent | ||||||
Percent | Percent | Increase | ||||||
Amount | to Sales | Amount | to Sales | (Decrease) | ||||
Sales to customers | $ | 43,830 | 100.0 | $ | 42,413 | 100.0 | 3.3 | |
Cost of products sold | 13,380 | 30.5 | 13,149 | 31.0 | 1.8 | |||
Gross Profit | 30,450 | 69.5 | 29,264 | 69.0 | 4.1 | |||
Selling, marketing and administrative expenses | 10,938 | 25.0 | 10,302 | 24.3 | 6.2 | |||
Research and development expense | 6,982 | 16.0 | 7,158 | 16.9 | (2.5) | |||
In-process research and development impairments | 194 | 0.4 | 49 | 0.1 | ||||
Interest (income) expense, net | (334) | (0.8) | (95) | (0.2) | ||||
Other (income) expense, net | 3,057 | 7.0 | 6,556 | 15.5 | ||||
Restructuring | 151 | 0.3 | 275 | 0.6 | ||||
Earnings before provision for taxes on income | 9,462 | 21.6 | 5,019 | 11.8 | 88.5 | |||
Provision for taxes on income | 1,521 | 3.5 | 134 | 0.3 | 1,035.1 | |||
Net earnings from Continuing Operations | $ | 7,941 | 18.1 | $ | 4,885 | 11.5 | 62.6 | |
Net earnings from Discontinued Operations, net of tax | - | 191 | ||||||
Net earnings | $ | 7,941 | $ | 5,076 | ||||
Net earnings per share (Diluted) from Continuing Operations | $ | 3.27 | $ | 1.86 | 75.8 | |||
Net earnings per share (Diluted) from Discontinued Operations | $ | - | $ | 0.07 | ||||
Average shares outstanding (Diluted) | 2,428.5 | 2,630.7 | ||||||
Effective tax rate from Continuing Operations | 16.1 % | 2.7 % | ||||||
Adjusted earnings from Continuing Operations before provision for taxes and net earnings (1) | ||||||||
Earnings before provision for taxes on income from Continuing Operations | $ | 16,281 | 37.1 | $ | 15,541 | 36.6 | 4.8 | |
Net earnings from Continuing Operations | $ | 13,420 | 30.6 | $ | 13,070 | 30.8 | 2.7 | |
Net earnings per share (Diluted) from Continuing Operations | $ | 5.53 | $ | 4.97 | 11.3 | |||
Effective tax rate from Continuing Operations | 17.6 % | 15.9 % |
(1) See Reconciliation of Non-GAAP Financial Measures.
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Johnson & Johnson published this content on 17 July 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 17 July 2024 10:29:09 UTC.