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Johnson & Johnson reported almost 25% decline in fourth quarter earnings, on reduced COVID-19 vaccine sales

Autor: Financial Market
Timp de citit: < 1 minute

Johnson & Johnson today announced results for fourth quarter 2022 that were below analyst estimates. Sales declined 4.4% to $23.7 billion primarily driven by reduced COVID-19 Vaccine sales and a strong dollar, vs. prior year.

Operational growth excluding COVID-19 Vaccine was 4.6% while earnings per share decreased 24.9% ($1.33) compared to the same period from previous year. Net earnings came ar $3.52 billion, a 26% decline.

On Consumer Health segment adjusted operational sales increased 3.9% predominately driven by over-thecounter (OTC) products like TYLENOL and MOTRIN analgesics, as well as upper respiratory products and digestive health products in the international markets.

Health&Beauty adjusted operational growth was primarily driven by NEUTROGENA outside the U.S, partially offset by Oral Care in the international markets.

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In 2023, the company is expecting adjusted operational sales growth excluding COVID-19 Vaccine to be around 4.0% and adjusted operational EPS of $10.50, reflecting growth of 3.5%.

Our full year 2022 results reflect the continued strength and stability of our three business segments, despite macroeconomic challenges,” said Joaquin Duato, Chairman of the Board and Chief Executive Officer.