JNJ
$143.97
Johnson & Johnson
($1.27)
(.87%)
Earnings Details
3rd Quarter September 2020
Tuesday, October 13, 2020 6:39:00 AM
Tweet Share Watch
Summary

Johnson & Johnson Beats

Johnson & Johnson (JNJ) reported 3rd Quarter September 2020 earnings of $2.20 per share on revenue of $21.1 billion. The consensus earnings estimate was $1.99 per share on revenue of $20.4 billion. The Earnings Whisper number was $2.10 per share. Revenue grew 1.7% on a year-over-year basis.

The company said it expects 2020 earnings of $7.95 to $8.05 per share on revenue of $81.2 billion to $82.0 billion. The company's previous guidance was earnings of $7.85 to $8.05 per share on revenue of $79.9 billion to $81.4 billion and the current consensus earnings estimate is $7.86 per share on revenue of $80.86 billion for the year ending December 31, 2020.

Johnson & Johnson is a holding company, which is engaged in the research and development, manufacture and sale of products in the health care field within its Consumer, Pharmaceutical and Medical Devices, and Diagnostics business segments.

Results
Reported Earnings
$2.20
Earnings Whisper
$2.10
Consensus Estimate
$1.99
Reported Revenue
$21.08 Bil
Revenue Estimate
$20.40 Bil
Growth
Earnings Growth
Revenue Growth
Power Rating
Grade
Earnings Release

Johnson & Johnson Reports 2020 Third-Quarter Results

NEW BRUNSWICK, N.J., Oct. 13, 2020 /PRNewswire/ -- Johnson & Johnson (NYSE: JNJ) today announced results for third-quarter 2020.  "Our third-quarter results reflect solid performance and positive trends across Johnson & Johnson, powered by better-than-expected procedure recovery in Medical Devices, growth in Consumer Health, and continued strength in Pharmaceuticals," said Alex Gorsky, Chairman and Chief Executive Officer. "I am proud of the relentless passion and Credo-led commitment to patients and customers that our colleagues around the world continue to demonstrate as we boldly fight the COVID-19 pandemic. Our world-class R&D team is working tirelessly to advance the Phase 3 trials of our COVID-19 vaccine and to uphold the highest standards of transparency, safety and efficacy; while other dedicated teams provide ongoing support to hospitals and patients as they return to sites of care, and ensure patients and consumers have the medicines and products they need. This resilient mindset, combined with our strategic capabilities and execution excellence, increase our optimism for continued recovery in 2020 and strong momentum entering into 2021."

OVERALL FINANCIAL RESULTS:


THIRD QUARTER


($ in Millions, except EPS)

2020

2019

%  Change

Reported Sales

$ 21,082

$ 20,729

1.7%

Net Earnings

3,554

1,753

102.7%

EPS (diluted)

$      1.33

$      0.66

101.5%





Non-GAAP*

THIRD QUARTER


($ in Millions, except EPS)

2020

2019

%  Change

Operational Sales1,2

N/A

N/A

1.7%

Adjusted Operational Sales1,3

N/A

N/A

2.0%

Adjusted Net Earnings1,4

5,868

5,672

3.5%

Adjusted EPS (diluted)1,4

$      2.20

$      2.12

3.8%


1 Non-GAAP financial measure; refer to reconciliations of non-GAAP financial measures included in accompanying schedules 

2 Excludes the impact of translational currency

3 Excludes the net impact of acquisitions and divestitures and translational currency

4 Excludes intangible amortization expense and special items

REGIONAL SALES RESULTS:


THIRD QUARTER

%  Change


($ in Millions) 1


2020
2


2019
2


Reported
2


Operational
1,2


Currency
2

Adjusted
Operational1,3

U.S.

$ 11,086

$ 10,791

2.7%

2.7%

-

2.8

International

9,996

9,938

0.6%

0.6%

0.0

1.1

Worldwide

$ 21,082

$ 20,729

1.7%

1.7%

0.0

2.0


1 Non-GAAP financial measure; refer to reconciliations of non-GAAP financial measures included in accompanying schedules

2 Excludes the impact of translational currency

3 Excludes the net impact of acquisitions and divestitures and translational currency

  Note: values may have been rounded

SEGMENT SALES RESULTS:


THIRD QUARTER

%  Change


($ in Millions) 1


2020
1


2019
1


Reported
2


Operational
1,2


Currency
1

Adjusted
Operational1,3

Consumer Health

$       3,514

$       3,469

1.3%

3.0

(1.7)

3.1

Pharmaceutical

11,418

10,877

5.0%

4.6

0.4

4.7

Medical Devices

6,150

6,383

(3.6)%

(3.9)

0.3

(3.3)

Worldwide

$     21,082

$     20,729

1.7%

1.7

0.0

2.0


1 Non-GAAP financial measure; refer to reconciliations of non-GAAP financial measures included in accompanying schedules

2 Excludes the impact of translational currency

3 Excludes the net impact of acquisitions and divestitures and translational currency

  Note: values may have been rounded

SEGMENT COMMENTARY:

Consumer Health
Consumer Health worldwide operational sales, excluding the net impact of acquisitions and divestitures, increased by 3.1%*, inclusive of the net negative impact of COVID-19 primarily in international over-the-counter products.  Sales growth was driven by U.S. growth in over-the-counter products including TYLENOL analgesics and digestive health products; LISTERINE mouthwash in oral care products; OGX in skin health/beauty products; and wound care products, primarily BAND-AID® Brand Adhesive Bandages. 

Pharmaceutical
Pharmaceutical worldwide operational sales, excluding the net impact of acquisitions and divestitures, grew 4.7%* driven by DARZALEX (daratumumab), for the treatment of multiple myeloma, STELARA (ustekinumab), a biologic for the treatment of a number of immune-mediated inflammatory diseases, IMBRUVICA (ibrutinib), an oral, once-daily therapy approved for use in treating certain B-cell malignancies, a type of blood or lymph node cancer, INVEGA SUSTENNA/XEPLION/INVEGA TRINZA/TREVICTA (paliperidone palmitate), long-acting, injectable atypical antipsychotics for the treatment of schizophrenia in adults, OPSUMIT (macitentan), an oral endothelin receptor antagonist indicated for the treatment of pulmonary arterial hypertension to delay disease progression, UPTRAVI (selexipag), an oral prostacyclin receptor agonist used to treat pulmonary arterial hypertension and reduce hospitalization, and ERLEADA (apalutamide), a next-generation androgen receptor inhibitor for the treatment of patients with prostate cancer. This growth was partially offset by the negative impact of COVID-19 as well as biosimilar and generic competition, with declines primarily in REMICADE (infliximab), a biologic approved for the treatment of a number of immune-mediated inflammatory diseases, and ZYTIGA (abiraterone acetate), an oral, once-daily medication for use in combination with prednisone for the treatment of metastatic castration-resistant prostate cancer.

Medical Devices
Medical Devices worldwide operational sales, excluding the net impact of acquisitions and divestitures, declined by 3.3%*.  The decline was primarily driven by the negative impact of the COVID-19 pandemic and the associated deferral of medical procedures to our Surgery, Orthopaedics, and Vision businesses. Results reflect market recovery versus the second quarter. The decline was partially offset by growth in the Interventional Solutions business led by electrophysiology products.

NOTABLE NEW ANNOUNCEMENTS IN THE QUARTER:
The information contained in this section should be read in conjunction with Johnson & Johnson's other disclosures filed with the Securities and Exchange Commission, including its Current Reports on Form 8-K, Quarterly Reports on Form 10-Q and Annual Reports on Form 10-K. Copies of these filings are available online at www.sec.gov, www.jnj.com or on request from Johnson & Johnson. The reader is also encouraged to review all other news releases available online in the Investors section of the Company's website at news releases.

Regulatory Approvals

THERMOCOOL SMARTTOUCH – Biosense Webster Receives FDA Approval for SF Ablation Catheter for the Treatment of Persistent Atrial Fibrillation¹

(press release)

SIMPONI ARIA (golimumab) – Approved by the U.S. Food and Drug Administration for Active Polyarticular Juvenile Idiopathic Arthritis and Extension of Its Active Psoriatic Arthritis Indication in Patients 2 Years of Age and Older

(press release)

SPRAVATO (esketamine) – Janssen Announces U.S. FDA Approval of CIII Nasal Spray to Treat Depressive Symptoms in Adults with Major Depressive Disorder with Acute Suicidal Ideation or Behavior

(press release)

DARZALEX (daratumumab) – U.S. FDA Approves New DARZALEX-Based Combination Regimen for Patients with Relapsed/Refractory Multiple Myeloma

(press release)


STELARA (ustekinumab) – U.S. Food and Drug Administration Approves Treatment of Pediatric Patients with Moderate to Severe Plaque Psoriasis

(press release)

Regulatory Submissions

UPTRAVI (selexipag) – Janssen Submits New Drug Application (NDA) to U.S. FDA for Injection for Intravenous Use to Treat Pulmonary Arterial Hypertension (PAH)

(press release)


DARZALEX FASPRO (daratumumab and hyaluronidase-fihj) – Janssen Submits Application Seeking U.S. FDA Approval for the Treatment of Patients with Light Chain (AL) Amyloidosis

(press release)

Other

Johnson & Johnson Announces European Commission Approval of Agreement to Supply 200 Million Doses of Janssen's COVID-19 Vaccine Candidate ¹

(press release)

Johnson & Johnson Completes Acquisition of Momenta Pharmaceuticals, Inc.¹

(press release)

Johnson & Johnson Initiates Pivotal Global Phase 3 Clinical Trial of Janssen's COVID-19 Vaccine Candidate

(press release)

CERENOVUS Launches New Suite of Technologies to Advance Stroke Treatment

(press release)

Johnson & Johnson Announces that Janssen's COVID-19 Investigational Vaccine Candidate Prevents Severe Clinical Disease in Pre-clinical Studies

(press release)

Janssen to Discontinue Pimodivir Influenza Development Program

(press release)

Johnson & Johnson Announces Agreement with U.S. Government for 100 Million Doses of Investigational COVID-19 Vaccine

(press release)

U.S. FDA Grants Ethicon Breakthrough Device Designation for Monarch-enabled NeuWave Microwave Ablation Technology

(press release)


1 Subsequent to the quarter

FULL-YEAR 2020 GUIDANCE:
Johnson & Johnson does not provide GAAP financial measures on a forward-looking basis because the Company is unable to predict with reasonable certainty the ultimate outcome of legal proceedings, unusual gains and losses, acquisition-related expenses and purchase accounting fair value adjustments without unreasonable effort. These items are uncertain, depend on various factors, and could be material to Johnson & Johnson's results computed in accordance with GAAP.

The estimated impact of the COVID-19 pandemic is included in the guidance below.


October 2020

July 2020




($ in Billions, except EPS) 



Adjusted Operational Sales1,2

Change vs. Prior Year

0.5% – 1.5%

(0.8%) – 1.0%

Operational Sales2

Change vs. Prior Year

$82.0 to $82.8

0.0% – 1.0%

$81.0 to $82.5

(1.3%) – 0.5%

Estimated Reported Sales3

Change vs. Prior Year

$81.2 to $82.0

(1.0%) – 0.0%

$79.9 to $81.4

(2.6%) – (0.8%)




Adjusted Operational EPS (Diluted)2,4

Change vs. Prior Year

$7.95 to $8.05

(8.4%) - (7.3%)

$7.85 to $8.05

(9.6%) - (7.3%)

 Adjusted EPS (Diluted)3,4

Change vs. Prior Year

$7.95 to $8.05

(8.4%) – (7.3%)

$7.75 to $7.95

(10.7%) – (8.4%)


1 Non-GAAP financial measure; excludes the net impact of acquisitions and divestitures

2 Non-GAAP financial measure; excludes the impact of translational currency

3 Calculated using Euro Average Rate: October 2020 = $1.14 Euro Average Rate: July 2020 = $1.12 (Illustrative purposes only)

Non-GAAP financial measure; excludes intangible amortization expense and special items

Other modeling considerations will be provided on the webcast.

WEBCAST INFORMATION:
Johnson & Johnson will conduct a conference call with investors to discuss this earnings release today at 8:30 a.m., Eastern Time. A simultaneous webcast of the call for investors and other interested parties may be accessed by visiting the Johnson & Johnson website. A replay and podcast will be available approximately two hours after the live webcast in the Investors section of the Company's website at events-and-presentations

ABOUT JOHNSON & JOHNSON:
At Johnson & Johnson, we believe good health is the foundation of vibrant lives, thriving communities and forward progress. That's why for more than 130 years, we have aimed to keep people well at every age and every stage of life. Today, as the world's largest and most broadly-based health care company, we are committed to using our reach and size for good. We strive to improve access and affordability, create healthier communities, and put a healthy mind, body and environment within reach of everyone, everywhere. We are blending our heart, science and ingenuity to profoundly change the trajectory of health for humanity.

NON-GAAP FINANCIAL MEASURES:
*Operational sales growth excluding the impact of translational currency, adjusted operational sales growth excluding the net impact of acquisitions and divestitures and translational currency, as well as adjusted net earnings, adjusted diluted earnings per share and adjusted operational diluted earnings per share excluding after-tax intangible amortization expense and special items, are non-GAAP financial measures and should not be considered replacements for, and should be read together with, the most comparable GAAP financial measures. Except for guidance measures, reconciliations of these non-GAAP financial measures to the most directly comparable GAAP financial measures can be found in the accompanying financial schedules of the earnings release and the Investors section of the Company's website at quarterly-results.

Copies of the financial schedules accompanying this earnings release are available on the Company's website at quarterly-results. These schedules include supplementary sales data, a condensed consolidated statement of earnings, reconciliations of non-GAAP financial measures, and sales of key products/franchises. Additional information on Johnson & Johnson, including adjusted income before tax by segment, a pharmaceutical pipeline of selected compounds in late stage development and a copy of today's earnings call presentation can also be found in the Investors section of the Company's website at quarterly-results.

NOTE TO INVESTORS CONCERNING FORWARD-LOOKING STATEMENTS:
This press release contains "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995 regarding, among other things: future operating and financial performance, product development, market position and business strategy. The reader is cautioned not to rely on these forward-looking statements. These statements are based on current expectations of future events. If underlying assumptions prove inaccurate or known or unknown risks or uncertainties materialize, actual results could vary materially from the expectations and projections of Johnson & Johnson. Risks and uncertainties include, but are not limited to: risks related to the impact of the COVID-19 global pandemic, such as the scope and duration of the outbreak, government actions and restrictive measures implemented in response, material delays and cancellations of medical procedures, supply chain disruptions and other impacts to the business, or on the Company's ability to execute business continuity plans, as a result of the COVID-19 pandemic, economic factors, such as interest rate and currency exchange rate fluctuations; competition, including technological advances, new products and patents attained by competitors; challenges inherent in new product research and development, including uncertainty of clinical success and obtaining regulatory approvals; uncertainty of commercial success for new and existing products; challenges to patents; the impact of patent expirations; the ability of the Company to successfully execute strategic plans; the impact of business combinations and divestitures; manufacturing difficulties or delays, internally or within the supply chain; product efficacy or safety concerns resulting in product recalls or regulatory action; significant adverse litigation or government action, including related to product liability claims; changes to applicable laws and regulations, including tax laws and global health care reforms; trends toward health care cost containment; changes in behavior and spending patterns of purchasers of health care products and services; financial instability of international economies and legal systems and sovereign risk; increased scrutiny of the health care industry by government agencies. A further list and descriptions of these risks, uncertainties and other factors can be found in Johnson & Johnson's Annual Report on Form 10-K for the fiscal year ended December 29, 2019, including in the sections captioned "Cautionary Note Regarding Forward-Looking Statements" and "Item 1A. Risk Factors," in the Company's most recently filed Quarterly Report on Form 10-Q and the Company's subsequent filings with the Securities and Exchange Commission. Copies of these filings are available online at www.sec.gov, www.jnj.com or on request from Johnson & Johnson. Any forward-looking statement made in this release speaks only as of the date of this release. Johnson & Johnson does not undertake to update any forward-looking statement as a result of new information or future events or developments.

Johnson & Johnson and Subsidiaries











Supplementary Sales Data































(Unaudited; Dollars in Millions)

THIRD QUARTER


NINE MONTHS






 Percent Change






Percent Change


2020


2019


Total


Operations


Currency


2020


2019


Total


Operations


Currency

Sales to customers by




















segment of business








































Consumer Health




















    U.S.

$   1,556


1,394


11.6

%

11.6


-


$   4,853


4,369


11.1

%

11.1


-

    International

1,958


2,075


(5.6)


(2.7)


(2.9)


5,582


5,962


(6.4)


(2.2)


(4.2)


3,514


3,469


1.3


3.0


(1.7)


10,435


10,331


1.0


3.4


(2.4)





















Pharmaceutical




















    U.S.

6,438


6,340


1.5


1.5


-


18,619


17,705


5.2


5.2


-

    International

4,980


4,537


9.7


8.8


0.9


14,685


13,945


5.3


7.4


(2.1)


11,418


10,877


5.0


4.6


0.4


33,304


31,650


5.2


6.1


(0.9)





















Medical Devices




















    U.S.

3,092


3,057


1.2


1.2


-


7,852


9,249


(15.1)


(15.1)


-

    International

3,058


3,326


(8.1)


(8.5)


0.4


8,518


10,082


(15.5)


(14.1)


(1.4)


6,150


6,383


(3.6)


(3.9)


0.3


16,370


19,331


(15.3)


(14.6)


(0.7)





















U.S.

11,086


10,791


2.7


2.7


-


31,324


31,323


0.0


0.0


-

International

9,996


9,938


0.6


0.6


0.0


28,785


29,989


(4.0)


(1.7)


(2.3)

Worldwide

$ 21,082


20,729


1.7


1.7


0.0


$ 60,109


61,312


(2.0)


(0.8)


(1.2)





Note: Percentages have been calculated using actual, non-rounded figures and, therefore, may not recalculate precisely.

 

Johnson & Johnson and Subsidiaries











Supplementary Sales Data































(Unaudited; Dollars in Millions)

THIRD QUARTER


NINE MONTHS






Percent Change






Percent Change


2020


2019


Total


Operations


Currency


2020


2019


Total


Operations


Currency

Sales to customers by




















geographic area








































U.S.

$ 11,086


10,791


2.7

%

2.7


-


$ 31,324


31,323


0.0

%

0.0


-





















Europe

4,819


4,461


8.0


4.6


3.4


13,709


13,803


(0.7)


0.1


(0.8)

Western Hemisphere excluding U.S.

1,296


1,488


(12.9)


(1.2)


(11.7)


3,931


4,446


(11.6)


(0.4)


(11.2)

Asia-Pacific, Africa

3,881


3,989


(2.7)


(3.2)


0.5


11,145


11,740


(5.1)


(4.3)


(0.8)

International

9,996


9,938


0.6


0.6


0.0


28,785


29,989


(4.0)


(1.7)


(2.3)





















Worldwide

$ 21,082


20,729


1.7

%

1.7


0.0


$ 60,109


61,312


(2.0)

%

(0.8)


(1.2)





Note:Percentages have been calculated using actual, non-rounded figures and, therefore, may not recalculate precisely.

 

Johnson & Johnson and Subsidiaries


Condensed Consolidated Statement of Earnings 












(Unaudited; in Millions Except Per Share Figures)

THIRD QUARTER












2020


2019


Percent




Percent




Percent


Increase


Amount


to Sales


Amount


to Sales


(Decrease)

Sales to customers

$ 21,082


100.0


$ 20,729


100.0


1.7

Cost of products sold

6,972


33.1


6,867


33.1


1.5

Gross Profit

14,110


66.9


13,862


66.9


1.8

Selling, marketing and administrative expenses

5,431


25.8


5,374


26.0


1.1

Research and development expense

2,840


13.5


2,599


12.5


9.3

In-process research and development

138


0.6


-


-



Interest (income) expense, net

32


0.1


(41)


(0.2)



Other (income) expense, net

1,200


5.7


4,214


20.3



Restructuring

68


0.3


69


0.4



Earnings before provision for taxes on income

4,401


20.9


1,647


7.9


167.2

Provision for/(Benefit from) taxes on income

847


4.0


(106)


(0.6)



Net earnings

$   3,554


16.9


$   1,753


8.5


102.7











Net earnings per share (Diluted)

$     1.33




$     0.66




101.5











Average shares outstanding (Diluted)

2,669.3




2,669.9















Effective tax rate

19.2

%



(6.4)

%














Adjusted earnings before provision for taxes and net earnings (1)










Earnings before provision for taxes on income

$   7,246


34.4


$   7,116


34.3


1.8

Net earnings

$   5,868


27.8


$   5,672


27.4


3.5

Net earnings per share (Diluted)

$     2.20




$     2.12




3.8

Effective tax rate

19.0

%



20.3

%















(1)See Reconciliation of Non-GAAP Financial Measures.

 

Johnson & Johnson and Subsidiaries


Condensed Consolidated Statement of Earnings 












(Unaudited; in Millions Except Per Share Figures)

NINE MONTHS












2020


2019


Percent




Percent




Percent


Increase


Amount


to Sales


Amount


to Sales


(Decrease)

Sales to customers

$    60,109


100.0


$    61,312


100.0


(2.0)

Cost of products sold

20,613


34.3


20,422


33.3


0.9

Gross Profit

39,496


65.7


40,890


66.7


(3.4)

Selling, marketing and administrative expenses

15,627


26.0


16,139


26.3


(3.2)

Research and development expense

8,127


13.5


8,123


13.3


0.0

In-process research and development

144


0.3


890


1.4



Interest (income) expense, net

16


0.0


(43)


(0.1)



Other (income) expense, net

545


0.9


2,509


4.1



Restructuring

187


0.3


162


0.3



Earnings before provision for taxes on income

14,850


24.7


13,110


21.4


13.3

Provision for taxes on income

1,874


3.1


2,001


3.3


(6.3)

Net earnings

$    12,976


21.6


$    11,109


18.1


16.8











Net earnings per share (Diluted)

$        4.86




$        4.13




17.7











Average shares outstanding (Diluted)

2,670.8




2,688.1















Effective tax rate

12.6

%



15.3

%














Adjusted earnings before provision for taxes and net earnings (1)










Earnings before provision for taxes on income

$    19,827


33.0


$    22,597


36.9


(12.3)

Net earnings

$    16,468


27.4


$    18,283


29.8


(9.9)

Net earnings per share (Diluted)

$        6.17




$        6.80




(9.3)

Effective tax rate

16.9

%



19.1

%





(1)See Reconciliation of Non-GAAP Financial Measures.

 

Johnson & Johnson and Subsidiaries

Reconciliation of Non-GAAP Financial Measures 










Third Quarter


Nine Months Ended

(Dollars in Millions Except Per Share Data)

2020


2019


2020


2019

Net Earnings, after tax- as reported

$3,554


$1,753


$12,976


$11,109









Pre-tax Adjustments 








Intangible Asset Amortization expense

1,181


1,138


3,426


3,386

Litigation expense, net

1,477


4,000


2,210


4,832

IPR&D

138


-


144


890

Restructuring related

130


128


363


360

Acquisition and Integration related ¹

(154)


107


(1,087)


229

Unrealized (gains)/losses on securities 

32


89


(174)


(217)

Medical Device Regulation2

38


-


89


-

Other

3


7


6


7









Tax Adjustments








Tax impact on special item adjustments 3

(482)


(1,159)


(1,002)


(1,922)

Tax legislation and related impacts 

(49)


(391)


(483)


(391)

Adjusted Net Earnings, after tax

$5,868


$5,672


$16,468


$18,283

Average shares outstanding (Diluted)

2,669.3


2,669.9


2,670.8


2,688.1

Adjusted net earnings per share (Diluted)

$2.20


$2.12


$6.17


$6.80

Operational adjusted net earnings per share (Diluted)

$2.17




$6.18






Notes:

1

Acquisition and integration related costs for 2020 primarily includes a Contingent Consideration reversal ($165M in third quarter and $1,148M in nine months) related to the timing of certain developmental milestones associated with the Auris Health acquisition. 



2

European Medical Device Regulation (MDR) costs represent one-time compliance costs for the Company's previously registered products. MDR is a replacement of the existing European Medical Devices Directive regulatory framework, and manufacturers of currently marketed medical devices are required to comply with EU MDR beginning in May 2021. The Company considers the adoption of EU MDR to be a significant one-time regulatory change and is not indicative of on-going operations.  The Company has excluded only external third-party regulatory and consulting costs from its Medical Devices operating segments' measures of profit and loss used for making operating decisions and assessing performance.



3

The tax impact related to special item adjustments reflects the current and deferred income taxes associated with the above pre-tax special items in arriving at adjusted earnings.

 

Johnson & Johnson and Subsidiaries

Reconciliation of Non-GAAP Financial Measure










Adjusted Operational Sales Growth

 THIRD QUARTER 2020 ACTUAL vs. 2019 ACTUAL 










 Segments 












Consumer Health


 Pharmaceutical 


 Medical Devices 


 Total 










 WW As Reported 


1.3%


5.0%


(3.6)%


1.7%

 U.S. 


11.6%


1.5%


1.2%


2.7%

 International 


(5.6)%


9.7%


(8.1)%


0.6%










 WW Currency 


(1.7)


0.4


0.3


0.0

 U.S. 


-


-


-


-

 International 


(2.9)


0.9


0.4


0.0










 WW Operational 


3.0%


4.6%


(3.9)%


1.7%

 U.S. 


11.6%


1.5%


1.2%


2.7%

 International 


(2.7)%


8.8%


(8.5)%


0.6%










General Surgery









Advanced Sterilization Products






0.5


0.2

 U.S. 






0.0


0.0

 International 






0.9


0.4










Baby Care









Baby Center


0.1






0.0

 U.S. 


0.4






0.1

 International 


0.0






0.0










All Other Acquisitions and Divestitures


0.0


0.1


0.0


0.1

 U.S. 


0.0


0.0


0.1


0.0

 International 


(0.1)


0.3


0.0


0.1










WW Adjusted Operational


3.1%


4.7%


(3.3)%


2.0%

 U.S. 


12.0%


1.5%


1.3%


2.8%

 International 


(2.8)%


9.2%


(7.6)%


1.1%


Note:Percentages are based on actual, non-rounded figures and may not sum

 

Johnson & Johnson and Subsidiaries

Reconciliation of Non-GAAP Financial Measure


Adjusted Operational Sales Growth

NINE MONTHS 2020 ACTUAL vs. 2019 ACTUAL


 Segments 












Consumer Health


 Pharmaceutical 


 Medical Devices 


 Total 










 WW As Reported 


1.0%


5.2%


(15.3)%


(2.0)%

 U.S. 


11.1%


5.2%


(15.1)%


0.0%

 International 


(6.4)%


5.3%


(15.5)%


(4.0)%










 WW Currency 


(2.4)


(0.9)


(0.7)


(1.2)

 U.S. 


-


-


-


-

 International 


(4.2)


(2.1)


(1.4)


(2.3)










 WW Operational 


3.4%


6.1%


(14.6)%


(0.8)%

 U.S. 


11.1%


5.2%


(15.1)%


0.0%

 International 


(2.2)%


7.4%


(14.1)%


(1.7)%










Skin Health / Beauty









Dr. Ci Labo - Japan


(0.1)






0.0

 U.S. 


0.0






0.0

 International 


(0.2)






0.0










General Surgery









Advanced Sterilization Products






0.9


0.3

 U.S. 






0.8


0.3

 International 






0.9


0.4










Baby Care









Baby Center


0.2






0.0

 U.S. 


0.6






0.1

 International 


0.0






0.0










All Other Acquisitions and Divestitures


(0.1)


0.2


0.0


0.1

 U.S. 


0.0


0.0


0.0


0.0

 International 


(0.1)


0.3


0.0


0.1










WW Adjusted Operational


3.4%


6.3%


(13.7)%


(0.4)%

 U.S. 


11.7%


5.2%


(14.3)%


0.4%

 International 


(2.6)%


7.7%


(13.1)%


(1.3)%


Note:Percentages are based on actual, non-rounded figures and may not sum

 


REPORTED SALES vs. PRIOR PERIOD ($MM)




REPORTED SALES vs. PRIOR PERIOD ($MM)


THIRD QUARTER




NINE MONTHS



% Change





% Change



2020


2019

Reported

Operational (1)

Currency





2020


2019

Reported

Operational (1)

Currency

CONSUMER HEALTH SEGMENT (2,3) 


















OTC


















US


$         601


477

26.0%

26.0%

-





$        1,917


1,468

30.6%

30.6%

-

Intl


541


621

-12.9%

-12.9%

0.0%





1,722


1,781

-3.3%

-0.6%

-2.7%

WW


1,142


1,098

4.0%

4.0%

0.0%





3,639


3,249

12.0%

13.5%

-1.5%

SKIN HEALTH / BEAUTY(4)


















US


572


559

2.4%

2.4%

-





1,767


1,810

-2.4%

-2.4%

-

Intl


577


592

-2.7%

-0.5%

-2.2%





1,506


1,633

-7.8%

-4.9%

-2.9%

WW


1,149


1,151

-0.2%

0.9%

-1.1%





3,273


3,443

-5.0%

-3.6%

-1.4%

ORAL CARE


















US


164


156

5.5%

5.5%

-





510


462

10.4%

10.4%

-

Intl


248


223

10.7%

14.4%

-3.7%





694


673

3.0%

7.9%

-4.9%

WW


412


379

8.5%

10.8%

-2.3%





1,204


1,135

6.0%

8.9%

-2.9%

BABY CARE


















US


91


91

-1.0%

-1.0%

-





279


277

0.5%

0.5%

-

Intl


302


326

-7.2%

-0.6%

-6.6%





831


977

-14.9%

-8.6%

-6.3%

WW


393


417

-5.9%

-0.7%

-5.2%





1,110


1,254

-11.5%

-6.6%

-4.9%

WOMEN'S HEALTH


















US


3


3

-6.9%

-6.9%

-





10


9

7.3%

7.3%

-

Intl


227


252

-9.6%

-4.0%

-5.6%





654


724

-9.6%

-2.8%

-6.8%

WW


230


255

-9.6%

-4.1%

-5.5%





664


733

-9.4%

-2.7%

-6.7%

WOUND CARE / OTHER


















US


125


109

15.2%

15.2%

-





370


343

8.0%

8.0%

-

Intl


64


59

7.4%

10.3%

-2.9%





175


173

1.3%

5.4%

-4.1%

WW


189


168

12.5%

13.5%

-1.0%





545


516

5.8%

7.2%

-1.4%



















TOTAL CONSUMER HEALTH


















US


1,556


1,394

11.6%

11.6%

-





4,853


4,369

11.1%

11.1%

-

Intl


1,958


2,075

-5.6%

-2.7%

-2.9%





5,582


5,962

-6.4%

-2.2%

-4.2%

WW


$      3,514


3,469

1.3%

3.0%

-1.7%





$      10,435


10,331

1.0%

3.4%

-2.4%





































See footnotes at end of schedule







































































REPORTED SALES vs. PRIOR PERIOD ($MM)




REPORTED SALES vs. PRIOR PERIOD ($MM)


THIRD QUARTER




NINE MONTHS




% Change





% Change

PHARMACEUTICAL SEGMENT (2,5)


2020


2019

Reported

Operational (1)

Currency





2020


2019

Reported

Operational (1)

Currency



















IMMUNOLOGY


















US


$      2,558


2,582

-0.9%

-0.9%

-





$        7,330


7,124

2.9%

2.9%

-

Intl


1,230


1,129

9.0%

8.4%

0.6%





3,619


3,304

9.5%

11.9%

-2.4%

WW


3,789


3,711

2.1%

1.9%

0.2%





10,950


10,428

5.0%

5.7%

-0.7%

REMICADE


















US 


634


749

-15.4%

-15.4%

-





1,852


2,324

-20.3%

-20.3%

-

US Exports (6)


78


88

-11.3%

-11.3%

-





321


226

42.1%

42.1%

-

Intl


209


299

-30.1%

-28.0%

-2.1%





673


795

-15.3%

-11.6%

-3.7%

WW


921


1,136

-18.9%

-18.4%

-0.5%





2,846


3,345

-14.9%

-14.0%

-0.9%

SIMPONI / SIMPONI ARIA


















US


312


313

-0.4%

-0.4%

-





840


857

-2.0%

-2.0%

-

Intl


280


273

2.4%

2.2%

0.2%





827


816

1.3%

3.9%

-2.6%

WW


592


586

0.9%

0.8%

0.1%





1,667


1,673

-0.4%

0.9%

-1.3%

STELARA


















US


1,313


1,212

8.4%

8.4%

-





3,668


3,152

16.4%

16.4%

-

Intl


634


487

30.3%

28.1%

2.2%





1,795


1,509

19.0%

20.6%

-1.6%

WW


1,947


1,698

14.7%

14.0%

0.7%





5,463


4,661

17.2%

17.7%

-0.5%

TREMFYA


















US


222


221

0.4%

0.4%

-





650


565

15.0%

15.0%

-

Intl


105


69

54.4%

50.4%

4.0%





316


177

78.7%

79.1%

-0.4%

WW


327


290

13.1%

12.2%

0.9%





965


742

30.2%

30.3%

-0.1%

OTHER IMMUNOLOGY


















US


-


-

-

-

-





-


-

-

-

-

Intl


3


2

35.6%

44.6%

-9.0%





9


8

12.4%

19.1%

-6.7%

WW


3


2

35.6%

44.6%

-9.0%





9


8

12.4%

19.1%

-6.7%

INFECTIOUS DISEASES


















US


413


418

-1.1%

-1.1%

-





1,265


1,162

8.9%

8.9%

-

Intl


451


421

7.0%

6.3%

0.7%





1,397


1,385

0.9%

3.8%

-2.9%

WW


864


839

3.0%

2.6%

0.4%





2,662


2,547

4.5%

6.1%

-1.6%

EDURANT / rilpivirine


















US


11


12

-12.0%

-12.0%

-





33


36

-8.6%

-8.6%

-

Intl


226


206

9.3%

5.0%

4.3%





684


603

13.3%

13.8%

-0.5%

WW


236


218

8.1%

4.1%

4.0%





716


639

12.1%

12.6%

-0.5%

PREZISTA / PREZCOBIX / REZOLSTA / SYMTUZA


















US


379


373

1.5%

1.5%

-





1,154


1,032

11.8%

11.8%

-

Intl


147


135

9.1%

12.1%

-3.0%





461


534

-13.7%

-8.8%

-4.9%

WW


526


508

3.5%

4.3%

-0.8%





1,615


1,566

3.1%

4.8%

-1.7%

OTHER INFECTIOUS DISEASES


















US


24


33

-26.6%

-26.6%

-





79


94

-16.6%

-16.6%

-

Intl


78


80

-2.3%

-0.4%

-1.9%





252


248

1.8%

6.3%

-4.5%

WW


102


113

-9.4%

-8.1%

-1.3%





331


342

-3.2%

0.0%

-3.2%






































REPORTED SALES vs. PRIOR PERIOD ($MM)




REPORTED SALES vs. PRIOR PERIOD ($MM)


THIRD QUARTER




NINE MONTHS



% Change





% Change



2020


2019

Reported

Operational (1)

Currency





2020


2019

Reported

Operational (1)

Currency

NEUROSCIENCE


















US


759


785

-3.5%

-3.5%

-





2,285


2,172

5.2%

5.2%

-

Intl


846


810

4.5%

4.1%

0.4%





2,565


2,590

-1.0%

0.9%

-1.9%

WW


1,605


1,595

0.6%

0.4%

0.2%





4,850


4,762

1.8%

2.9%

-1.1%

CONCERTA / Methylphenidate


















US


43


84

-49.2%

-49.2%

-





150


196

-23.6%

-23.6%

-

Intl


107


109

-2.0%

-1.7%

-0.3%





319


348

-8.2%

-6.4%

-1.8%

WW


149


193

-22.6%

-22.5%

-0.1%





469


544

-13.8%

-12.6%

-1.2%

INVEGA SUSTENNA / XEPLION /
INVEGA TRINZA / TREVICTA


















US


585


554

5.6%

5.6%

-





1,704


1,543

10.5%

10.5%

-

Intl


341


297

14.9%

12.6%

2.3%





983


916

7.3%

8.6%

-1.3%

WW


926


851

8.8%

8.0%

0.8%





2,688


2,459

9.3%

9.8%

-0.5%

RISPERDAL CONSTA


















US


70


79

-11.0%

-11.0%

-





220


237

-6.9%

-6.9%

-

Intl


81


89

-7.8%

-8.9%

1.1%





254


292

-12.7%

-11.0%

-1.7%

WW


152


167

-9.3%

-9.9%

0.6%





475


528

-10.1%

-9.2%

-0.9%

OTHER NEUROSCIENCE


















US


60


68

-11.3%

-11.3%

-





210


196

7.1%

7.1%

-

Intl


317


316

0.3%

1.7%

-1.4%





1,008


1,035

-2.6%

-0.1%

-2.5%

WW


377


384

-1.8%

-0.6%

-1.2%





1,218


1,231

-1.1%

1.1%

-2.2%

ONCOLOGY


















US


1,267


1,171

8.2%

8.2%

-





3,623


3,146

15.2%

15.2%

-

Intl


1,862


1,590

17.1%

15.5%

1.6%





5,310


4,830

9.9%

11.8%

-1.9%

WW


3,129


2,761

13.3%

12.4%

0.9%





8,933


7,976

12.0%

13.1%

-1.1%

DARZALEX


















US


585


402

46.0%

46.0%

-





1,540


1,123

37.2%

37.2%

-

Intl


514


363

41.5%

40.5%

1.0%





1,397


1,045

33.7%

36.7%

-3.0%

WW


1,099


765

43.8%

43.4%

0.4%





2,937


2,168

35.5%

37.0%

-1.5%

ERLEADA


















US


152


74

*

*

-





407


194

*

*

-

Intl


55


12

*

*

*





112


22

*

*

*

WW


206


86

*

*

*





519


216

*

*

*

IMBRUVICA


















US


450


447

0.7%

0.7%

-





1,329


1,163

14.2%

14.2%

-

Intl


581


475

22.5%

21.2%

1.3%





1,682


1,373

22.5%

25.2%

-2.7%

WW


1,031


921

11.9%

11.2%

0.7%





3,011


2,536

18.7%

20.2%

-1.5%

VELCADE


















US


-


-

-

-

-





-


-

-

-

-

Intl


105


149

-30.1%

-30.8%

0.7%





311


636

-51.2%

-50.7%

-0.5%

WW


105


149

-30.1%

-30.8%

0.7%





311


636

-51.2%

-50.7%

-0.5%

ZYTIGA / abiraterone acetate


















US


58


233

-75.2%

-75.2%

-





284


616

-53.9%

-53.9%

-

Intl


532


508

4.8%

2.2%

2.6%





1,564


1,502

4.1%

4.8%

-0.7%

WW


590


741

-20.4%

-22.1%

1.7%





1,848


2,118

-12.7%

-12.3%

-0.4%

OTHER ONCOLOGY


















US


21


17

35.3%

35.3%

-





63


51

25.8%

25.8%

-

Intl


76


83

-8.8%

-10.1%

1.3%





244


252

-3.1%

-1.1%

-2.0%

WW


98


100

-1.7%

-2.8%

1.1%





308


303

1.7%

3.3%

-1.6%

PULMONARY HYPERTENSION


















US


510


427

19.4%

19.4%

-





1,541


1,296

18.9%

18.9%

-

Intl


239


227

5.2%

3.7%

1.5%





742


704

5.3%

6.5%

-1.2%

WW


749


654

14.5%

13.9%

0.6%





2,283


2,000

14.1%

14.6%

-0.5%

OPSUMIT


















US


244


206

18.1%

18.1%

-





729


581

25.3%

25.3%

-

Intl


148


140

5.5%

3.9%

1.6%





458


419

9.3%

10.7%

-1.4%

WW


392


347

13.0%

12.3%

0.7%





1,187


1,001

18.6%

19.2%

-0.6%

UPTRAVI


















US


226


185

22.4%

22.4%

-





692


536

29.1%

29.1%

-

Intl


34


25

32.3%

28.9%

3.4%





100


75

33.1%

34.6%

-1.5%

WW


260


210

23.6%

23.2%

0.4%





792


611

29.6%

29.8%

-0.2%

OTHER PULMONARY HYPERTENSION


















US


40


36

11.5%

11.5%

-





121


179

-32.3%

-32.3%

-

Intl


57


61

-6.7%

-7.4%

0.7%





183


210

-12.7%

-11.9%

-0.8%

WW


97


96

0.1%

-0.3%

0.4%





304


388

-21.7%

-21.3%

-0.4%

CARDIOVASCULAR / METABOLISM / OTHER


















US


931


955

-2.6%

-2.6%

-





2,574


2,804

-8.2%

-8.2%

-

Intl


351


360

-2.7%

-2.4%

-0.3%





1,052


1,131

-7.1%

-4.6%

-2.5%

WW


1,281


1,316

-2.6%

-2.5%

-0.1%





3,625


3,936

-7.9%

-7.2%

-0.7%

XARELTO


















US


630


613

2.9%

2.9%

-





1,716


1,704

0.7%

0.7%

-

Intl


-


-

-

-

-





-


-

-

-

-

WW


630


613

2.9%

2.9%

-





1,716


1,704

0.7%

0.7%

-

INVOKANA / INVOKAMET


















US


156


125

24.7%

24.7%

-





405


411

-1.6%

-1.6%

-

Intl


68


55

24.7%

25.2%

-0.5%





173


147

18.0%

20.7%

-2.7%

WW


224


179

24.7%

24.9%

-0.2%





578


558

3.6%

4.3%

-0.7%

PROCRIT / EPREX


















US


69


126

-45.4%

-45.4%

-





215


387

-44.5%

-44.5%

-

Intl


63


72

-12.2%

-13.0%

0.8%





208


220

-5.5%

-4.3%

-1.2%

WW


132


198

-33.3%

-33.6%

0.3%





423


607

-30.4%

-29.9%

-0.5%

OTHER


















US


75


91

-17.9%

-17.9%

-





238


302

-21.4%

-21.4%

-

Intl


219


234

-6.2%

-5.5%

-0.7%





670


765

-12.3%

-9.5%

-2.8%

WW


294


325

-9.5%

-9.0%

-0.5%





908


1,067

-14.9%

-12.9%

-2.0%

TOTAL PHARMACEUTICAL


















US


6,438


6,340

1.5%

1.5%

-





18,619


17,705

5.2%

5.2%

-

Intl


4,980


4,537

9.7%

8.8%

0.9%





14,685


13,945

5.3%

7.4%

-2.1%

WW


$    11,418


10,877

5.0%

4.6%

0.4%





$      33,304


31,650

5.2%

6.1%

-0.9%



















See footnotes at end of schedule





































REPORTED SALES vs. PRIOR PERIOD ($MM)




REPORTED SALES vs. PRIOR PERIOD ($MM)


THIRD QUARTER




NINE MONTHS



% Change





% Change

MEDICAL DEVICES SEGMENT (2,5)


2020


2019

Reported

Operational (1)

Currency





2020


2019

Reported

Operational (1)

Currency



















INTERVENTIONAL SOLUTIONS


















US


399


357

11.8%

11.8%

-





1,019


1,066

-4.4%

-4.4%

-

Intl


437


382

14.0%

12.9%

1.1%





1,134


1,156

-2.0%

-1.0%

-1.0%

WW


836


741

12.9%

12.4%

0.5%





2,153


2,223

-3.1%

-2.7%

-0.4%

ORTHOPAEDICS


















US 


1,308


1,301

0.6%

0.6%

-





3,427


3,950

-13.2%

-13.2%

-

Intl


774


837

-7.5%

-9.0%

1.5%





2,145


2,616

-18.0%

-16.9%

-1.1%

WW


2,083


2,138

-2.6%

-3.1%

0.5%





5,572


6,566

-15.1%

-14.7%

-0.4%

HIPS


















US


221


204

8.7%

8.7%

-





564


633

-10.9%

-10.9%

-

Intl


124


133

-7.2%

-8.4%

1.2%





344


428

-19.8%

-18.3%

-1.5%

WW


345


336

2.4%

1.9%

0.5%





908


1,061

-14.5%

-13.9%

-0.6%

KNEES


















US


205


209

-1.9%

-1.9%

-





527


650

-19.0%

-19.0%

-

Intl


102


136

-24.8%

-26.4%

1.6%





298


435

-31.5%

-30.7%

-0.8%

WW


308


344

-10.9%

-11.6%

0.7%





825


1,085

-24.0%

-23.7%

-0.3%

TRAUMA


















US


433


415

4.2%

4.2%

-





1,194


1,239

-3.6%

-3.6%

-

Intl


253


262

-3.4%

-4.7%

1.3%





698


795

-12.2%

-10.9%

-1.3%

WW


685


677

1.3%

0.7%

0.6%





1,892


2,034

-7.0%

-6.5%

-0.5%

SPINE, SPORTS & OTHER(7)


















US


449


472

-4.9%

-4.9%

-





1,142


1,427

-20.0%

-20.0%

-

Intl


295


306

-3.4%

-5.0%

1.6%





805


957

-15.8%

-14.9%

-0.9%

WW


745


778

-4.3%

-5.0%

0.7%





1,947


2,384

-18.3%

-18.0%

-0.3%

SURGERY


















US


913


940

-3.0%

-3.0%

-





2,247


2,867

-21.7%

-21.7%

-

Intl


1,239


1,371

-9.6%

-9.5%

-0.1%





3,556


4,192

-15.2%

-13.1%

-2.1%

WW


2,152


2,311

-6.9%

-6.9%

0.0%





5,803


7,059

-17.8%

-16.6%

-1.2%

ADVANCED


















US


421


409

3.0%

3.0%

-





1,079


1,209

-10.7%

-10.7%

-

Intl


579


602

-3.9%

-4.1%

0.2%





1,644


1,811

-9.2%

-7.3%

-1.9%

WW


1,000


1,010

-1.1%

-1.2%

0.1%





2,723


3,019

-9.8%

-8.7%

-1.1%

GENERAL


















US


492


531

-7.6%

-7.6%

-





1,168


1,658

-29.6%

-29.6%

-

Intl


660


769

-14.1%

-13.8%

-0.3%





1,912


2,381

-19.7%

-17.5%

-2.2%

WW


1,152


1,301

-11.4%

-11.3%

-0.1%





3,080


4,040

-23.8%

-22.5%

-1.3%

VISION


















US


473


459

3.1%

3.1%

-





1,160


1,366

-15.1%

-15.1%

-

Intl


608


734

-17.2%

-17.4%

0.2%





1,683


2,117

-20.5%

-19.6%

-0.9%

WW


1,081


1,193

-9.4%

-9.5%

0.1%





2,843


3,483

-18.4%

-17.8%

-0.6%

CONTACT LENSES / OTHER


















US


375


339

10.9%

10.9%

-





924


993

-6.9%

-6.9%

-

Intl


455


555

-18.1%

-18.2%

0.1%





1,274


1,566

-18.7%

-17.8%

-0.9%

WW


830


893

-7.1%

-7.2%

0.1%





2,198


2,559

-14.1%

-13.6%

-0.5%

SURGICAL


















US


98


120

-18.9%

-18.9%

-





236


373

-36.8%

-36.8%

-

Intl


153


180

-14.6%

-14.8%

0.2%





409


551

-25.7%

-24.8%

-0.9%

WW


251


299

-16.3%

-16.4%

0.1%





645


923

-30.2%

-29.6%

-0.6%



















TOTAL MEDICAL DEVICES


















US


3,092


3,057

1.2%

1.2%

-





7,852


9,249

-15.1%

-15.1%

-

Intl


3,058


3,326

-8.1%

-8.5%

0.4%





8,518


10,082

-15.5%

-14.1%

-1.4%

WW


$      6,150


6,383

-3.6%

-3.9%

0.3%





$      16,370


19,331

-15.3%

-14.6%

-0.7%




















Note: Columns and rows within tables may not add due to rounding. Percentages have been calculated using actual, non-rounded figures and, therefore, may not recalculate precisely.




* Percentage greater than 100% or not meaningful


(6) Reported as U.S. sales

(1) Operational growth excludes the effect of translational currency


(7) Previously referred to as Spine & Other

(2) Unaudited



(3) Previously referred to as Consumer



(4) Previously referred to as Beauty



(5) Certain prior year amounts have been reclassified to conform to current year product disclosures

 

(PRNewsfoto/Johnson & Johnson)

 

Cision View original content to download multimedia:http://www.prnewswire.com/news-releases/johnson--johnson-reports-2020-third-quarter-results-301150947.html

SOURCE Johnson & Johnson