Johnson & Johnson released its financial results for the third quarter of 2024, showcasing an increase in sales and operational income.

Sales Performance and Segments

In the third quarter of 2024, Johnson & Johnson's sales grew by 5.2%, reaching $22.5 billion, with operational growth at 6.3%. Special attention was paid to the Innovative Medicine and MedTech segments. The MedTech segment saw a 5.8% growth, supported by electrophysiology product sales and the launch of new technologies like VELYS Spine and Shockwave E IVL Catheter. The Innovative Medicine segment also showed significant results with operational sales growth of 6.3% due to the success of products like DARZALEX and TREMFYA.

Financial Results and Projections

Earnings per share (EPS) for the quarter were reported at $1.11, a 34.3% decrease from the previous year due to one-time charges. However, on an adjusted basis, EPS was $2.42, exceeding analysts' expectations of $2.19. The year-to-date free cash flow stood at approximately $14 billion.

Revised Annual Guidance

Johnson & Johnson revised its forecast for 2024. The company expects adjusted operational EPS to be around $9.91. Operational sales are forecasted to range between $89.4 billion to $89.8 billion with a projected growth from 6.3% to 6.8% compared to the previous year.

Despite a decrease in EPS, Johnson & Johnson showcased sales growth and a confidence in future growth prospects through strategic initiatives and innovations.