Johnson & Johnson (JNJ) Tops Q3 EPS by 7c; Boosts FY14 EPS Outlook

Johnson & Johnson (NYSE: JNJ) reported Q3 EPS of $1.50, $0.07 better than the analyst estimate of $1.43. Revenue for the quarter came in at $18.5 billion versus the consensus estimate of $18.36 billion.

"Our strong third-quarter performance reflects the continued success of our new products and the strength of our core business. We are making deliberate portfolio choices, positioning us well for achieving our near-term priorities and our long-term growth drivers," said Alex Gorsky, Chairman and Chief Executive Officer. "I am proud of our colleagues around the world who are focused everyday on delivering solutions to address the evolving health care needs."

Worldwide Consumer sales of $3.6 billion for the third quarter represented a decrease of 0.6% versus the prior year consisting of an operational increase of 0.3% and a negative impact from currency of 0.9%. Domestic sales decreased 4.2%; international sales increased 1.3%, which reflected an operational increase of 2.6% and a negative currency impact of 1.3%. The divestiture of the North American sanitary protection business impacted operational growth by approximately 2% worldwide and 5% in the U.S.

Worldwide Pharmaceutical sales of $8.3 billion for the third quarter represented an increase of 18.1% versus the prior year with operational growth of 18.7% and a negative impact from currency of 0.6%. Domestic sales increased 33.1%; international sales increased 2.8%, which reflected an operational increase of 4.1% and a negative currency impact of 1.3%.

Johnson & Johnson sees FY2014 EPS of $5.92 - $5.97, versus the consensus of $5.93.

For earnings history and earnings-related data on Johnson & Johnson (JNJ) click here.

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