July 15, 2026

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Johnson & Johnson (NYSE: JNJ) reported second-quarter 2026 results above expectations, supported by higher sales, stronger adjusted earnings, growth in Innovative Medicine and MedTech, and raised full-year guidance.
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Johnson & Johnson is a global healthcare company focused on pharmaceuticals, medical devices, oncology, immunology, neuroscience, cardiovascular products, surgery, orthopaedics, and vision care.
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The company reported adjusted EPS of $2.90, above estimates of $2.85, representing a 1.8% earnings surprise. Revenue came in at $25.31 billion, above estimates of $25.04 billion, with reported sales growth of 6.6%.
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One note before publishing: Johnson & Johnson reported GAAP EPS of $2.27 and adjusted EPS of $2.90. The dashboard appears to use the adjusted EPS figure.

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Results Showed Higher Sales

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Reported sales increased 6.6% to $25.31 billion from $23.74 billion a year earlier.
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Operational sales increased 5.6%, while adjusted operational sales increased 5.7%.
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Adjusted net earnings rose 5.7% to $7.08 billion from $6.70 billion.
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Adjusted EPS increased 4.7% to $2.90 from $2.77.
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GAAP net earnings were $5.53 billion, roughly flat from the prior-year quarter, while GAAP diluted EPS declined 0.9% to $2.27.

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Innovative Medicine and MedTech Both Grew

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Innovative Medicine sales increased 7.8% to $16.38 billion.
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Growth was driven by oncology products including DARZALEX, CARVYKTI, TECVAYLI and RYBREVANT/LAZCLUZE, along with TREMFYA in immunology and SPRAVATO and CAPLYTA in neuroscience.
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The gains were partly offset by declines in STELARA, REMICADE, IMBRUVICA and ZYTIGA.
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MedTech sales increased 4.5% to $8.93 billion.
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Growth was led by wound closure and biosurgery products in Surgery, electrophysiology products and Shockwave in Cardiovascular, contact lenses in Vision, and trauma in Orthopaedics.

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Guidance Raised

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Johnson & Johnson raised its full-year 2026 outlook.
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The company now expects reported sales of $100.8 billion to $101.4 billion, with a midpoint of $101.1 billion, representing 7.3% growth.
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Adjusted operational EPS is now expected to range from $11.50 to $11.65, with a midpoint of $11.58.
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Adjusted EPS is now expected to range from $11.60 to $11.75, with a midpoint of $11.68.
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Management said the company is on track to exceed $100 billion in annual revenue for the first time in its 140-year history.

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Market Focus

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Investors are likely watching Innovative Medicine growth, MedTech momentum, oncology demand, STELARA pressure, pipeline approvals, adjusted EPS growth, free cash flow, and whether Johnson & Johnson can deliver on its raised 2026 outlook.

The earnings beat was positive, but the bigger signal was the higher full-year guidance and management’s confidence in reaching more than $100 billion in annual revenue.

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The Bigger Picture

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Johnson & Johnson delivered a solid quarter across its healthcare portfolio.
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Sales topped $25 billion, adjusted EPS beat expectations, and both major segments posted growth. The company also raised full-year guidance, supported by strength in oncology, immunology, neuroscience, cardiovascular products, and surgical technologies.
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The key question is whether newer products can keep offsetting pressure from older medicines while MedTech continues to grow.
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