Johnson & Johnson Guides FY24 Adj. EPS Below Estimates

(RTTNews) - Ahead of the meeting with the investment community at the New York Stock Exchange later on Tuesday, Johnson & Johnson (JNJ) initiated financial guidance for the full-year 2024 and for the long term.

For fiscal 2024, the company now projects adjusted operational earnings per share growth of 7.3% at the midpoint with a range of $10.55 to $10.75 per share on operational sales growth in the range of 5 to 6 percent.

On average, 22 analysts polled by Thomson Reuters expect the company to report earnings of $10.78 per share on revenue growth of 3.6 percent to $88.47 billion for the year. Analysts' estimates typically exclude special items.

The Company's 2024 guidance range reflects an approximate $0.15 dilutive impact to adjusted operational EPS associated with the previously announced acquisition of Laminar, Inc.

Johnson & Johnson is also providing long-term financial targets and expects at least 3 percent operational sales growth in 2025, despite STELARA biosimilar entry in the U.S. and 5 to 7 percent operational sales CAGR from 2025 to 2030.