Johnson & Johnson beats by $0.02, reports revs in-line; raises FY15 EPS, in-line
- Reports Q2 (Jun) earnings of $1.71 per share, excluding non-recurring items, $0.02 better than the Capital IQ Consensus of $1.69; revenues fell 8.8% year/year to $17.79 bln vs the $17.78 bln consensus. Operational results decreased 0.9% and the negative impact of currency was 7.9%. Domestic sales decreased 2.4%. International sales decreased 14.3%, reflecting operational growth of 0.5% and a negative currency impact of 14.8%.
- Worldwide Pharmaceutical sales of $7.9 billion for the second quarter represented a decrease of 6.6% versus the prior year with operational growth of 1.0% and a negative impact from currency of 7.6%.
- Worldwide Consumer sales of $3.5 billion for the second quarter represented a decrease of 7.0% versus the prior year, consisting of an operational increase of 2.3% and a negative impact from currency of 9.3%.
- Worldwide Medical Devices sales of $6.4 billion for the second quarter represented a decrease of 12.2% versus the prior year consisting of an operational decrease of 4.7% and a negative currency impact of 7.5%.
- Co issues in-line guidance for FY15, raises EPS to $6.10-6.20 from $6.04-6.19 vs. $6.15 Capital IQ Consensus Estimate.