Johnson & Johnson (J&J) comes out of losses and earns 5,039 million euros in the first quarter of 2024

The American pharmaceutical company Johnson & Johnson (J&J) obtained a net profit of 5,354 million dollars (5,039 million euros) in the first quarter of 2024 compared to losses of 491 million dollars (462.1 million euros) in those incurred by the company twelve months earlier.

In this sense, the multinational has specified that its quarterly accounts for 2023 do not reflect an extraordinary gain of 423 million dollars (398.1 million euros) as part of the discontinued operations related to the separation of its consumer business that would have wiped out the ‘red numbers’ up to 68 million fdollars (64 million euros).

Sales totaled 21,383 million dollars (20,125 million euros), an increase of 2.3% in one year, which included a 1.1% increase in the pharmaceutical business’ billing to 13,562 million dollars (12,764 million euros). euros), while the MedTech division increased its sales by 4.5%, to 7,821 million dollars (7,361 million euros).

The laboratory’s revenues in the United States reached 11,620 million dollars (10,936 million euros), 7.8% more, although internationally they fell 3.4%, to 9,763 million dollars (9,189 million euros). euros).

On the contrary, total costs, which include production, sales, marketing or R&D, among others, were 14,943 million dollars (14,064 million euros), 32.6% less.

In the first quarter of 2023, expenses of 6,940 million dollars (6,532 million euros) were recorded due to atypical expenses, which, on the contrary, had a positive impact of 322 million dollars (303.1 million euros) in 2024.

“Johnson & Johnson’s solid results in the first quarter reflect greater focus and progress in our portfolio and products under development,” said Spaniard Joaquín Duato, chairman of the board of directors and CEO of J&J. “Our impact across the healthcare spectrum is unique in our sector, and the milestones achieved this quarter reinforce our position as an innovative powerhouse,” he added.

Forecasts and dividends

J&J has updated forecasts and anticipates that in 2024 its sales will reach the range of between 88,700 and 89,100 million dollars (83,482-83,859 million euros), which represents a year-on-year improvement of between 5.5% and 6%, in line with estimates of 5% to 6% in January.

Likewise, its diluted earnings per share are expected to range between 10.60 and 10.75 dollars (9.98-10.12 euros), this is an increase of 6.9% to 8.4% compared to the data from the last exercise.

The board of directors has also reported that it will revalue the quarterly dividend to be distributed by 4.2% to raise it to 1.24 dollars (1.17 euros). The same will be payable on June 4 to the holders who appear as such at the closing of the trading floor on May 21.