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Management lowered both the expectation for adjusted earnings per share and for sales. JohnsonJohnson is suspending sales guidance for the COVID-19 vaccine amid global oversupply and uncertain demand, the company said Tuesday in New Brunswick, New Jersey. However, this has no impact on the operating earnings per share. J&J shares temporarily gained 2.72 percent on the NYSE to $182.58.
J&J now expects sales of 94.8 to 95.8 billion US dollars (87.9-88.8 billion euros) for this year. This means that the values are each $ 1.1 billion lower than before. In the best-case scenario, that would only mean growth of 4.8 percent compared to 2021. The new forecast no longer includes sales of the corona vaccine. Adjusted earnings per share are expected to be in the range of $10.15 to $10.35 this year, up from $10.40 to $10.60 previously.
CEO Joaquin Duato said he was confident about the future for J&J. First quarter results showed a “strong performance” despite macro headwinds. From January to March, the group was able to increase sales by five percent to around $23.4 billion, but profits fell by almost 17 percent to just under $5.15 billion. The quarterly dividend is expected to increase by 7 cents to $1.13 per share.
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