Johnson & Johnson beats by $0.11, beats on revs; raises FY14 EPS guidance, in-line (105.38)
Reports Q2 (Jun) earnings of $1.66 per share, excluding non-recurring items, $0.11 better than the Capital IQ Consensus Estimate of $1.55; revenues rose 9.1% year/year to $19.5 bln vs the $18.96 bln consensus.
By segment:
- Operational results increased 9.4% and the negative impact of currency was 0.3%. Domestic sales increased 14.9%. International sales increased 4.4%, reflecting operational growth of 5.0% and a negative currency impact of 0.6%.
By segment:
- Worldwide Consumer sales of $3.7 billion for the second quarter represented an increase of 2.4% versus the prior year consisting of an operational increase of 3.6% and a negative impact from currency of 1.2%. Domestic sales decreased 0.5% primarily reflecting the divestiture of the sanitary protection business. International sales increased 3.9%, which reflected an operational increase of 5.8% and a negative currency impact of 1.9%. Positive contributors to operational results were sales of TYLENOL and MOTRIN analgesics; over-the-counter upper respiratory medicines as well as anti-smoking aids; NEUTROGENA and AVEENO skin care products; baby care products; and international sales of LISTERINE mouthwash and feminine protection products.
- Worldwide Pharmaceutical sales of $8.5 billion for the second quarter represented an increase of 21.1% versus the prior year on a total and operational basis. Domestic sales increased 36.6%. International sales increased 6.8% which reflected an operational increase of 6.9% and a negative currency impact of 0.1%.
- Worldwide Medical Devices and Diagnostics sales of $7.2 billion for the second quarter represented an increase of 0.7% versus the prior year consisting of an operational increase of 0.9% and a negative currency impact of 0.2%. Domestic sales decreased 1.4%. International sales increased 2.3%, which reflected an operational increase of 2.6% and a negative currency impact of 0.3%. Primary contributors to operational growth were hip and trauma products in the Orthopaedics business, Biosense Webster's electrophysiology products in the Cardiovascular Care business, and sales of energy products in the Specialty Surgery business. Sales results in the U.S. Diabetes Care business were negatively impacted by price declines associated with the implementation of Medicare competitive bidding in mail order and retail effective July 1, 2013.