Johnson & Johnson (JNJ) on April 19, 2016 announced sales of $17.5 billion for the first quarter of 2016, an increase of 0.6% as compared to the first quarter of 2015. Operational sales results increased 3.9% and the negative impact of currency was 3.3%. Domestic sales increased 7.2%. International sales decreased 6.0%, reflecting operational growth of 0.6% and a negative currency impact of 6.6%. Excluding the net impact of acquisitions, divestitures and hepatitis C sales, on an operational basis, worldwide sales increased 6.9%, domestic sales increased 9.8% and international sales increased 3.8%.* The currency devaluation in Venezuela negatively impacted worldwide operational sales growth by 60 basis points, and international sales growth by 120 basis points.
Net earnings and diluted earnings per share for the first quarter of 2016 were $4.3 billion and $1.54, respectively. First quarter 2016 net earnings included after-tax intangible amortization expense of approximately $0.2 billion and a charge for after-tax special items of approximately $0.2 billion. First quarter 2015 net earnings included after-tax intangible amortization expense of approximately $0.2 billion and a net gain for after-tax special items of approximately $0.1 billion. A reconciliation of non-GAAP financial measures is included as an accompanying schedule. Excluding after-tax intangible amortization expense and special items, adjusted net earnings for the current quarter were $4.7 billion and adjusted diluted earnings per share were $1.68, representing increases of 6.1% and 7.7%, respectively, as compared to the same period in 2015.* On an operational basis, adjusted diluted earnings per share increased 10.3%.*
“We are off to a strong start to the year, supported by our first quarter underlying sales growth,” said Alex Gorsky, Chairman and Chief Executive Officer. “Our Pharmaceuticals business continues to deliver impressive levels of growth, we have steady improvement in our Consumer business, and we are seeing momentum in our Medical Devices businesses, all of which are fueling our optimism for the full-year ahead.”
Johnson & Johnson earnings per share showed a decreasing trend of -3.9% for the current fiscal year. The company’s expected EPS growth rate for next fiscal year is 700%.Analysts project EPS growth over the next 5 years at 6%. It has EPS annual growth over the past 5 fiscal years of 2.8% when sales grew 2.6. It reported 0.6% sales growth, and 0.4% EPS growth in the last quarter.
The stock is trading at $112.69, up 40.8% from 52-week low of $81.79. The stock trades down -1.31% from its peak of $115 and 4.22% above the consensus price target of $117.44. Its volume clocked up at 10.09 million shares which is higher than the average volume of 7.36 million shares. Its market capitalization currently stands at $310.99B.
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