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Johnson & Johnson Q4 Profit Beats Estimates; Adj. Operational Sales Up 3.4%

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Johnson & Johnson (JNJ) reported that its fourth-quarter adjusted earnings per share declined 4.6 percent year-on-year. Sales improved 3.4 percent on an adjusted operational basis. Looking forward, Johnson & Johnson said it anticipates continued sales and earnings growth in 2020, with an adjusted operational earnings per share growth in a range of 3.7 percent to 5.4 percent, and an adjusted operational sales growth in a range of 5.0 percent to 6.0 percent.

Fourth-quarter adjusted earnings per share was $1.88 compared to $1.97, last year. On average, 15 analysts polled by Thomson Reuters expected the company to report profit per share of $1.87 for the quarter. Analysts' estimates typically exclude special items.

Fourth-quarter sales were $20.75 billion reflecting growth of 1.7 percent, an operational growth of 2.6 percent and adjusted operational growth of 3.4 percent. Analysts expected revenue of $20.8 billion for the quarter. Pharmaceutical sales were $10.55 billion, up 4.5 percent on an adjusted operational basis.

For full year 2019, adjusted earnings per share was $8.68, up 6.1 percent from prior year. Analysts projected the company to report profit per share of $8.67 for the full year.

Full-year 2019 sales were $82.1 billion, a growth of 0.6 percent, operational growth of 2.8 percent and an adjusted operational growth of 4.5 percent from previous year. Analysts expected revenue of $82.12 billion for the full year. Pharmaceutical worldwide operational sales, excluding the net impact of acquisitions and divestitures, grew 5.8 percent.

For fiscal 2020, Johnson & Johnson projects adjusted earnings per share in a range of $8.95 to $9.10; and adjusted operational earnings per share in the range of $9.00 to $9.15. Operational sales are anticipated to be in a range of $85.8 billion to $86.6 billion. Analysts expect the company to report profit per share of $9.1 on revenue of $85.48 billion.

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