Pharmaceutical giant Johnson & Johnson
JOHNSON & JOHNSON
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, Which is traded at a market capitalization of $ 467 billion, has been known for its steady dividend increases for decades, and it does so this time as well. The company reported today before trading on its performance in the first quarter of the year and raised again, for the 60th year in a row, the dividend it distributes to investors. The dividend currently reflects a return of 2.35% on the share price (before the current increase).
The company reports a 5% increase in revenue to $ 23.4 billion in the first quarter, compared to $ 22.3 billion in the corresponding quarter and compared to analysts’ expectations of $ 23.6 billion. Geographically, the highest growth rate of 11.3% was recorded in Europe.
17.1% of the company’s sales in the Consumer Health Division are attributed to over-the-counter (OTC) drugs, 11% to health and skin care products, and 10% to oral health. In the pharma sector, the largest for the company, 15% of sales are in the oncology sector. In the Medtech sector, 17% of sales are attributed to “intervention solutions”.
Adjusted net income rose 3% to $ 7.1 billion. Adjusted earnings per share rose 6.2% to $ 2.67, slightly above Wall Street forecasts for adjusted earnings of $ 2.58 per share. GAAP earnings decreased 16.8% to $ 1.93 per share. Most of the adjustments are attributed to the reduction of intangible assets by over $ 1 billion. The adjusted profit in the fourth quarter reflects the company’s profit multiplier of approximately 16.5.
The company announced an increase in the annual dividend by 6.6%. The company has $ 30 billion in cash against a debt of $ 33 billion. During the quarter, a negative cash flow of $ 3.4 billion was recorded and a dividend of $ 2.8 billion was distributed.
The company has suspended its forecast for vaccine sales to Corona due to “component supply problems and demand uncertainty”. The company’s vaccine has struggled to cope with Pfizer and Moderna’s innovative mRNA vaccines and is having manufacturing problems. The company sold the non-profit vaccine so there should be no impact on the company’s results.
The company also cut sales forecasts for 2022 and now expects sales of between $ 94.8 billion and $ 95.8 billion compared to a previous sales forecast of $ 95.6 billion to $ 96.9 billion.
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