Johnson & Johnson raises earnings forecasts

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Johnson & Johnson (JNJ.US) today announced results for the third quarter of 2023. The company delivered strong results and significant growth progress in the third quarter, "... providing a solid foundation for future sustainable growth," - Joaquin Duato, chairman of the board and CEO of JnJ, said.

Key details of the report:

- Third-quarter 2023 sales growth of 6.8% to $21.4 billion (estimated $21.03 billion), with operating growth of 6.4% and adjusted operating growth of 4.9%. Operating growth excluding COVID-19 vaccine of 9.0%.

- Earnings per share (EPS) of $1.69 increased 4.3%, and adjusted EPS of $2.66 (estimated $2.52) increased 19.3%.

- The company is raising its full-year forecasts for 2023 for sales and adjusted earnings per share (EPS).

Segment results:

Source: JNJ

Earnings forecasts have been raised:

Source: JNJ

More details on the results can be found here.

The company's shares are gaining nearly 1.3% before the opening of the session.

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