Johnson & Johnson Posts 1.6% First Quarter Sales Increase
Tracey Romero • Tue, April 25th, 2017
Johnson & Johnson announced on Tuesday April 18, 2017 that sales for the first quarter 2017 rose 1.6% (excluding currency and acquisitions). Sales for the quarter were $17.78 billion, which is up from $17.482 billion reported in the first quarter of 2016.
Johnson & Johnson, which is headquartered in New Brunswick, New Jersey, is a multinational medical device, pharmaceutical and consumer packaged goods manufacturer. The following table shows the sales details for first quarter 2017.
According to a company press release, the company has included the estimated impact of the Actelion transaction which is expected to close in the second quarter in its financial guidance.
Glenn Novarro, an analyst with RBC Capital Markets, LLC, said in his report, “Worldwide revenues of $17.78B [billion] were $264M [million] below our forecast and [approximately] $254M below consensus.”
“We expect JNJ's overall growth to decelerate significantly in 2017 primarily due to headwinds in its pharma business,” added Lei Huang, a Wells Fargo analyst.
"Johnson & Johnson's first-quarter results are in line with our expectations and we are confident we will achieve the full-year financial guidance we established at the beginning of the year," said Alex Gorsky, chairman and chief executive officer in a press release.
"The pending acquisition of Actelion demonstrates our ongoing commitment to bringing innovation to patients with significant unmet needs, and provides a unique opportunity for us to expand our portfolio with leading, differentiated in-market medicines and promising late-stage products. We look forward to the associates from Actelion joining the Johnson & Johnson Family of Companies."