Johnson & Johnson (JNJ) Tops Q1 EPS by 6c; Boosts FY14 EPS Outlook
(Updated - April 15, 2014 7:48 AM EDT)
Johnson & Johnson (NYSE: JNJ) reported Q1 EPS of $1.54, $0.06 better than the analyst estimate of $1.48. Revenue for the quarter came in at $18.1 billion versus the consensus estimate of $18 billion.
"Johnson & Johnson delivered strong first-quarter results driven by successful new product launches and the continued growth of key products," said Alex Gorsky, Chairman and Chief Executive Officer. "Our talented colleagues around the world continue to bring meaningful innovations to patients and customers, addressing significant unmet needs. We also advanced our near-term priorities and long-term growth drivers, positioning us well to deliver sustainable results."
Worldwide Consumer sales of $3.6 billion for the first quarter represented a decrease of 3.2% versus the prior year consisting of an operational decrease of 0.6% and a negative impact from currency of 2.6%.
Domestic sales decreased 2.9% reflecting the divestiture of the sanitary protection business that was completed in October 2013. International sales decreased 3.4%, which reflected an operational increase of 0.7% and a negative currency impact of 4.1%.
Positive contributors to operational results were sales of AVEENO® and DABAO® skin care products; international sales of LISTERINE® oral care products; and U.S. sales of ZYRTEC, an over-the-counter allergy treatment.
Worldwide Pharmaceutical sales of $7.5 billion for the first quarter represented an increase of 10.8% versus the prior year with operational growth of 12.2% and a negative impact from currency of 1.4%. Domestic sales increased 7.7%. International sales increased 14.0% which reflected an operational increase of 16.9% and a negative currency impact of 2.9%.
Worldwide Medical Devices and Diagnostics sales of $7.1 billion were flat compared to the prior year consisting of an operational increase of 1.8% offset by a negative currency impact of 1.8%. Domestic sales decreased 1.6%. International sales increased 1.3%, which reflected an operational increase of 4.6% and a negative currency impact of 3.3%.
Johnson & Johnson now sees FY2014 EPS of $5.80 - $5.90, versus the consensus of $5.83.
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