JNJ Beats on Earnings, Raises Dividend 5.3%
Johnson & Johnson has reported its Q1 2023 results, revealing impressive growth in sales, even with the challenges posed by the COVID-19 pandemic. The company's reported sales growth for the first quarter of 2023 was 5.6%, totaling $24.7 billion. This growth is largely due to operational growth of 9.0%, and adjusted operational growth of 7.6%.
Despite a special one-time charge, Johnson & Johnson reported adjusted earnings per share (EPS) of $2.68, which is a 0.4% increase. The basic loss per share was ($0.03), representing a 101.6% decrease. The company's performance in the first quarter of 2023 demonstrates strong growth across all three segments of its business.
Joaquin Duato, Chairman of the Board and Chief Executive Officer, expressed satisfaction with the company's performance in the first quarter of 2023. He stated, "Our first quarter results demonstrate strong performance across all three segments of our business and reflect the dedication of Johnson & Johnson colleagues around the world. With this momentum, I look forward to the remainder of the year, one filled with exciting catalysts that will create both near- and long-term value for patients and all of our stakeholders."
Johnson & Johnson's strong first-quarter results have led the company to increase its 2023 full-year guidance for adjusted operational sales and adjusted operational EPS. This is good news for investors who are looking to capitalize on the company's performance.
JNJ raised its dividend by 5.3%, bringing the yield to nearly 3 percent. Last year, they raised the dividend by 6.6 percent.
Johnson & Johnson's Q1 2023 results are an impressive reflection of the company's dedication to excellence and its ability to navigate challenges such as post COVID-19 sales. The increase in full-year guidance shows that the company is confident about its performance and is poised to continue delivering value to its stakeholders.
Join LevelFields now to be the first to know about events that affect stock prices and uncover unique investment opportunities. Choose from events, view price reactions, and set event alerts with our AI-powered platform. Don't miss out on daily opportunities from 6,300 companies monitored 24/7. Act on facts, not opinions, and let LevelFields help you become a better trader.