Here are 10 report highlights:
1. Johnson & Johnson reported sales of $17.5 billion, an increase of 0.6 percent compared to the first quarter of 2015.
2. The company’s net earnings totaled $4.3 billion and the diluted earnings per share were $1.54.
3. Operational sales results rose 3.9 percent.
4. Domestic sales increased 7.2 percent and international sales increased 6 percent.
5. Venezuela’s currency devaluation negatively affected global operational sales by 60 basis points as well as international sales growth by 120 points.
6. The company’s worldwide medical devices sales hit $6.1 billion, a decrease of 2.4 percent compared to the same period the year prior.
7. Johnson & Johnson’s worldwide consumer sales hit $3.2 billion, a decrease of 5.8 percent compared to the same quarter a year prior.
8. Worldwide pharmaceutical sales reached $8.2 billion, an increase of 5.9 percent compared to the same period in 2015.
9. The company updated the 2016 full-year sales guidance to $71.2 billion to $71.9 billion.
10. Johnson & Johnson also updated its 2016 full-year adjusted earnings guidance to $6.53 to $6.68 per share.
“We are off to a strong start to the year, supported by our first quarter underlying sales growth,” said Alex Gorsky, chairman and CEO, Johnson & Johnson. “Our pharmaceutical 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 business, all of which are fueling our optimism for the full-year ahead.”
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