What is the revenue and EPS growth rate for Johnson & Johnson year over year?

What is the market's earnings forecast for Johnson & Johnson next quarter?

What guidance did Johnson & Johnson's management provide for the next earnings period?

What were the key takeaways from Johnson & Johnson’s earnings call?

What does Johnson & Johnson do and what are its main business segments?

What factors drove the changes in Johnson & Johnson's revenue and profit?

What is Johnson & Johnson's gross profit margin?

What were the key takeaways from Johnson & Johnson's earnings call?

- **Double-Digit Growth Vision**: JNJ targets double-digit revenue growth by 2030, fueled by 28 billion-dollar platforms and $32B annual R&D/M&A.
- **Oncology Dominance**: DARZALEX ($14.3B) and CARVYKTI ($555M) lead 21% Oncology growth. TECVAYLI combo shows 83% disease progression reduction.
- **MedTech Acceleration**: Cardiovascular (+15%), Surgery (OTTAVA robotics), and Vision (+5.3%) drive MedTech expansion. Abiomed and Shockwave exceed $1B in sales.
- **2026 Financial Outlook**: $100B sales (+5.7-6.7%), 50+ bps margin expansion, and $11.3B EPS. Talc litigation appeal ongoing with no operational impact.

**【CEO Summary Section】**
- **Accelerated Growth Ambition**: JNJ aims for double-digit revenue growth by the end of the decade, driven by 28 platforms generating over $1 billion annually. 2025 revenue reached $94.2 billion, with 5.3% operational growth despite STELARA biosimilar impact.
- **Innovative Medicine Strength**: Oncology sales grew 21%, led by DARZALEX ($14.3B, +22%) and CARVYKTI ($555M, +63%). Immunology TREMFYA achieved 65% growth, targeting $10B peak. Neuroscience SPRAVATO grew 57%.
- **MedTech Expansion**: MedTech sales hit $34B (5.4% growth), with Cardiovascular (+15%), Surgery (+3.7%), and Vision (+5.3%) as key drivers. Abiomed and Shockwave delivered double-digit growth.
- **Pipeline Investment**: $32B spent on R&D and M&A in 2025, including Intra-Cellular and Halda acquisitions. New manufacturing facilities to accelerate innovation.

**【CFO Financial Commentary】**
- **2025 Financials**: Adjusted EPS of $10.79 (+8.1%), free cash flow of $19.7B. Q4 2025 sales $24.6B (+7.1%), net earnings $5.1B.
- **2026 Guidance**: Sales $100B (+5.7-6.7%), adjusted EPS $11.28-11.48 (+5.5%). Margin improvement of 50+ basis points, driven by cost efficiencies and new product launches.
- **Risk Management**: $500M MedTech tariffs and U.S. drug access agreement included in guidance. Talc litigation appeal ongoing, with no material impact on operations.

**【Q&A Highlights】**
- **MedTech Momentum**: Cardiovascular (+15%) and Surgery (OTTAVA robotics launch) expected to accelerate. Vision contact lens innovation (ACUVUE OASYS MAX) supports mid-single-digit growth.
- **Oncology Pipeline**: TECVAYLI + DARZALEX shows 83% risk reduction in multiple myeloma. Milvexian targeting $5B in atrial fibrillation and stroke prevention.
- **Litigation Update**: Talc MDL Daubert ruling appeal underway; JNJ remains confident in product safety and litigation strategy.
- **Margin Strategy**: 2026 focus on operational efficiency, with 50+ bps margin expansion via portfolio pruning (e.g., Ortho separation) and R&D investment timing.

Johnson & Johnson (JNJ) Q4 2025 Earnings Call Transcript

- **Accelerated Growth**: Q3 2025 revenue up 5.4% YoY to $24 billion, driven by 5.3% growth in Innovative Medicine (TREMFYA +40%, CARVYKTI +81%) and 5.6% in MedTech (Shockwave +20.9%, Abiomed +15.3%).
- **Strategic Separation**: Orthopaedics business (DePuy Synthes) to be spun off, freeing JNJ to focus on high-growth MedTech areas (cardiovascular, robotics, surgery) with 75+ basis points margin improvement.
- **Pipeline Momentum**: 
  - Pharma: INLEXZO (bladder cancer) and icotrokinra (psoriasis) on track for $5 billion+ peaks. 
  - MedTech: OTTAVA robotic surgery system targeting FDA submission in early 2026.
- **2026 Outlook**: >5% operational sales growth, driven by: 
  - Pharma: TREMFYA IBD expansion, RYBREVANT/LAZCLUZE subcutaneous launch. 
  - MedTech: Shockwave C2 Aero, TECNIS PureSee IOL, and robotic surgery adoption.
- **Financial Strength**: $14 billion year-to-date free cash flow, $19 billion cash, and 300+ basis points margin expansion target.

**【CEO Summary Section】**
- **Overall Performance**: Q3 2025 revenue of $24 billion, up 5.4% year-over-year, driven by 5.3% growth in Innovative Medicine and 5.6% in MedTech. Operational sales growth of 5.4% despite a 640 basis point headwind from STELARA loss of exclusivity.
- **Innovative Medicine Highlights**: 
  - Oncology: DARZALEX sales grew 19.9%, CARVYKTI achieved 81.4% growth, and RYBREVANT/LAZCLUZE delivered over 100% growth.
  - Immunology: TREMFYA sales surged 40.1% on 40% growth in IBD (Crohn's disease and ulcerative colitis), while SPRAVATO grew 60.8%.
  - New Launches: INLEXZO (bladder cancer) and icotrokinra (psoriasis) are on track for $5 billion+ peak sales.
- **MedTech Strengths**: 
  - Cardiovascular: 12% growth led by Shockwave (20.9% growth) and Abiomed (15.3%).
  - Surgery: 3.3% growth in biosurgery and wound closure, with OTTAVA robotic surgery system targeting FDA submission in early 2026.
  - Vision: 6.1% growth driven by TECNIS intraocular lenses (13.8% growth) and ACUVUE OASYS MAX 1-day contact lenses.
- **Strategic Moves**: Announced planned separation of Orthopaedics business (DePuy Synthes) to sharpen focus on high-growth MedTech areas (cardiovascular, robotics, surgery). Post-separation, MedTech is expected to see 75+ basis points improvement in both revenue growth and operating margins.

**【CFO Financial Commentary】
- **Q3 Financials**: 
  - Net earnings: $5.2 billion (vs. $2.4 billion in Q3 2024), adjusted EPS of $2.80 (up 15.7% YoY). 
  - Free cash flow: $14 billion year-to-date, with $19 billion in cash and $46 billion in debt.
  - Guidance Update: 2025 operational sales growth revised to 4.8%-5.3% (midpoint 5.1%), with adjusted EPS of $10.85-$10.90 (up 8.7% YoY). 
- **2026 Outlook**: Anticipated >5% operational sales growth, driven by: 
  - Innovative Medicine: TREMFYA IBD expansion, RYBREVANT/LAZCLUZE subcutaneous launch, and icotrokinra psoriasis approval. 
  - MedTech: Shockwave C2 Aero launch, TECNIS PureSee IOL, and OTTAVA robotic surgery system. 
- **Margin Improvement**: Target 300+ basis points of operating margin expansion by year-end 2025, with MedTech margin enhancement post-Orthopaedics separation.

**【Q&A Highlights】
- **Orthopaedics Separation**: Expected to complete within 18-24 months, creating a standalone $13 billion MedTech platform. Johnson & Johnson will retain focus on cardiovascular, surgery, and vision, with MedTech growth accelerating to 5%-7%+ by 2026.
- **INLEXZO Potential**: $5 billion+ peak sales for bladder cancer treatment, with 50%+ complete response rates in BCG-unresponsive NMIBC. Phase III trials underway for BCG-relapsed and frontline BCG settings.
- **icotrokinra Strategy**: Oral IL-23 receptor antagonist targeting $5 billion+ peak in psoriasis, with head-to-head data vs. biologics and TYK2 inhibitors.
- **2026 Growth Drivers**: 
  - Pharma: TREMFYA IBD, RYBREVANT/LAZCLUZE, and icotrokinra launches. 
  - MedTech: Shockwave, Abiomed, and robotic surgery expansion.
- **Policy & Manufacturing**: $55 billion U.S. investment in R&D and manufacturing over 4 years, with all advanced medicines manufactured domestically by 2025.


Johnson & Johnson (JNJ) Q3 2025 Earnings Call Transcript

- **Revenue Beat**: Q2 sales $23.7 billion (+4.6%), raising 2025 guidance to $92.9 billion (midpoint).
- **Oncology Dominance**: 22.3% growth, CARVYKTI up 100%, RYBREVANT + LAZCLUZE up 100%, targeting $50 billion by 2030.
- **MedTech Momentum**: 6.1% growth, Cardiovascular +22%, Vision +8.9%, Shockwave on track for $13 billion platform.
- **Margin Expansion**: 300+ basis points improvement expected, offsetting $200 million tariff impact.
- **Pipeline Power**: 8 late-stage Oncology assets, TAR-200 launch H2 2025, and OTTAVA FDA submission Q1 2026.

**【CEO Summary Section】**
- Delivered 4.6% operational sales growth in Q2 2025, with Innovative Medicine reaching $15.2 billion in quarterly sales for the first time.
- Raised full-year sales guidance by $2 billion to $92.9 billion (midpoint) and EPS guidance by $0.25 to $10.85.
- Oncology sales grew 22.3%, driven by CARVYKTI (100%+ growth), RYBREVANT + LAZCLUZE (100%+ growth), and DARZALEX (21.5% growth).
- MedTech delivered 6.1% growth, with Cardiovascular up 22% and Vision up 8.9%.
- Highlighted 6 key growth areas: Oncology, Immunology, Neuroscience, Cardiovascular, Surgery, and Vision.

**【CFO Financial Commentary】**
- Q2 2025 net earnings: $5.5 billion (GAAP), $6.7 billion (adjusted), with EPS of $2.29 (GAAP) and $2.77 (adjusted).
- Free cash flow: $6 billion year-to-date, ending Q2 with $19 billion in cash and $51 billion in debt.
- Operating margin expected to improve by ~300 basis points in 2025, despite $200 million tariff impact.
- Effective tax rate guidance: 17%-17.5% for 2025, rising to 18.5% in 2026 due to GILTI changes.

**【Q&A Key Highlights】**
- **Innovative Medicine Growth**: 13 brands with double-digit growth, including TREMFYA (+30%), SPRAVATO (+53%), and CARVYKTI (+100%).
- **MedTech Acceleration**: Cardiovascular up 22% (Abiomed +16.9%, Shockwave double-digit), Vision contact lenses up 2.9%.
- **Tariff Impact**: 2025 impact reduced to $200 million (from $400 million), with savings reinvested in R&D and launches.
- **Pipeline Catalysts**: TAR-200 FDA priority review, RYBREVANT subcu filing, icotrokinra psoriasis trial, and OTTAVA robotic surgery submission in Q1 2026.
- **Margin Confidence**: 2025 operating margin guide maintained despite STELARA erosion and Part D redesign.


Johnson & Johnson (JNJ) Q2 2025 Earnings Call Transcript

- **Q1 Growth Defy Biosimilar Headwinds**: 4.2% total revenue growth despite 32% STELARA decline, driven by oncology (DARZALEX +22.5%) and MedTech (Abiomed +14%).
- **Pipeline Catalysts**: RYBREVANT/LAZCLUZE extends NSCLC survival by >1 year; TREMFYA gains 50% share of IL-23 new UC starts; icotrokinra psoriasis Phase 3 data to read this year.
- **$55B US Investment for Future Growth**: New manufacturing facilities to localize production, reducing tariff risk and positioning for 2030+ growth.
- **2025 Guidance Upped**: Sales now $92B (+$700M from CAPLYTA), EPS $10.50-10.70 (+6.2% mid-point), with 300bps margin expansion.
- **Risk Mitigation**: $900M MedTech restructuring to exit non-core products, offset by $250M 2025-2027 revenue disruption.


**【CEO Summary Section】**
- **Overall Performance**: Q1 2025 revenue grew 4.2% to $21.9 billion, driven by 4.2% growth in Innovative Medicine and 4.1% in MedTech, despite a 32.3% decline in STELARA due to biosimilar competition.
- **Innovative Medicine Highlights**: 
  - DARZALEX sales grew 22.5%, CARVYKTI over 100%, and TREMFYA 20.1% in immunology. 
  - RYBREVANT/LAZCLUZE extended overall survival by over a year in EGFR-mutated lung cancer, with subcutaneous administration approved in Europe.
  - CAPLYTA acquisition adds $5+ billion peak potential in CNS disorders.
- **MedTech Strengths**: Cardiovascular (Abiomed +14%, Shockwave $258M), surgical vision (TECNIS Odyssey growth), and robotic surgery (OTTAVA trials initiated).
- **Investment & Pipeline**: $55B US investment over 4 years for manufacturing/R&D, with 4 new facilities. 2025 seen as a catalyst year for accelerated growth through 2030.

**【CFO Financial Commentary】**
- **Q1 Financials**: Net earnings $11B, EPS $4.54 (vs. $1.34 YoY), adjusted EPS $2.77 (+2.2%). Free cash flow $3.4B, ending Q1 with $38.8B cash.
- **Margins & Costs**: 
  - Gross margin deleveraged 320bps due to STELARA decline and Shockwave acquisition costs.
  - R&D spend $3B (15% of sales), up 190bps vs. 2024Q1.
  - Operating expenses improved 130bps via cost management.
- **2025 Guidance**: 
  - Sales growth 3.3-4.3% ($92B midpoint), adjusted for $700M CAPLYTA addition.
  - Operating margin to improve 300bps YoY, EPS $10.50-10.70 (+6.2% mid-point).
  - Tariffs impact $400M in 2025, with plans to mitigate via US manufacturing expansion.

**【Q&A Key Takeaways】**
- **Tariffs Mitigation**: $55B US investment to localize manufacturing, reducing reliance on imports. Tariffs seen as fluid, with focus on 2026 impact.
- **Ortho Recovery**: Q1 3.1% decline driven by one-time events (480bps impact). 2024H2 recovery expected via VELYS-enabled hips/knees and spine launches.
- **Recession Resilience**: Healthcare demand stable; elective procedures may lag but not abandon. Ortho & MedTech most sensitive to economic slowdowns.
- **Pipeline Upside**: RYBREVANT/LAZCLUZE, TREMFYA, and icotrokinra sales projections exceed Street estimates by 2-3x in 2027-2028.


Johnson & Johnson (JNJ)-15 Apr 25-2025 Q1 Earnings call transcript

- **2024 Growth Resilience**: 7% operational sales growth with 26 billion-dollar platforms, driven by oncology and medtech innovation. 
- **2025 Outlook Confidence**: 3% sales growth and 8.7% EPS growth despite $2B headwinds, fueled by new launches like TREMFYA and CARVYKTI. 
- **Strategic Investments Paying Off**: $50B R&D/M&A pipeline yields 27 FDA approvals in 2024, including first CAR-T for frontline myeloma. 
- **Risk Management**: VARIPULSE U.S. pause underscores patient safety focus, while global medtech M&A (ShockWave, Abiomed) diversifies growth. 
- **Margin Expansion**: 300 bps margin improvement in 2025 via cost control and reduced R&D expenses, offsetting biosimilar erosion.

**【CEO Summary Section】**
- **2024 Yearly Performance**: Delivered 7% operational sales growth (excluding COVID-19 vaccine), with 26 platforms exceeding $1 billion annually. Oncology, neuroscience, and medtech led growth. 
- **Strategic Investments**: $50 billion in R&D and M&A, including acquisition of Intracellular Therapies for mental health innovation. 
- **2025 Outlook**: Guided for 3% operational sales growth and 8.7% EPS growth, despite $2 billion headwinds from STELARA biosimilars and Part D redesign. 
- **Pipeline Momentum**: 27 FDA approvals in 2024, 18 positive Phase III readouts, and key launches like TREMFYA in IBD and CARVYKTI in myeloma.

**【CFO Financial Commentary】**
- **Q4 2024 Results**: Sales $22.5 billion (+6.7%), adjusted EPS $2.04 (-10.9% YoY). Full year 2024 sales $88.8 billion (+5.9%), adjusted EPS $9.98 (+0.6% YoY). 
- **Cash Flow**: $20 billion free cash flow in 2024, up $1.6 billion YoY. 
- **2025 Guidance**: Operational sales growth 2.5%-3.5% (midpoint 3.0%), adjusted EPS $10.75-$10.95 (+8.7%). Margin expansion of 300 bps driven by cost control and reduced R&D expenses. 
- **Acquisition Impact**: Intracellular Therapies expected to add 80 bps to sales growth but dilute EPS by $0.30-$0.35 in 2025.

**【Q&A Key Highlights】**
- **Myeloma Franchise**: DARZALEX ($3.1B Q4 sales), CARVYKTI ($963M Q4), and TECVAYLI ($146M Q4) driving oncology growth. CARVYKTI nearing $1B annual sales. 
- **MedTech Strategy**: $32B+ in M&A (ShockWave, Abiomed) to accelerate growth. VARIPULSE paused in U.S. for safety review, but 3,000+ cases completed globally. 
- **Immunology Challenges**: STELARA biosimilar erosion (13.6% Q4 decline), but TREMFYA UC launch and IBD pipeline provide offset. 
- **China Headwinds**: Continued VBP impact in medtech, but U.S. growth (+10% Q4) offsets.


Actual																2.3	1.67	2.2	1.86	2.59	2.48	2.6	2.13	2.67	2.59	2.55	2.35	2.68	2.8	2.66	2.29	2.71	2.82	2.42	2.04	2.77	2.77	2.8	2.46
Forecast																2.0155	1.4946	1.9767	1.8212	2.3372	2.2906	2.3513	2.1165	2.5853	2.537	2.4773	2.2366	2.5026	2.6167	2.5164	2.281	2.6557	2.7112	2.2065	1.9916	2.5808	2.6818	2.7574	2.517	2.6842
Surprise	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	+14.12%	+11.74%	+11.30%	+2.13%	+10.82%	+8.27%	+10.58%	+0.64%	+3.28%	+2.09%	+2.93%	+5.07%	+7.09%	+7.01%	+5.71%	+0.39%	+2.04%	+4.01%	+9.68%	+2.43%	+7.33%	+3.29%	+1.54%	-2.26%	0.00%

Actual	--	--	--	--	--	--	--	--	--	--	--	--	--	--	--	20.69B	18.34B	21.08B	22.48B	22.32B	23.31B	23.34B	24.80B	23.43B	24.02B	23.79B	23.71B	24.75B	25.53B	21.35B	21.39B	21.38B	22.45B	22.47B	22.52B	21.89B	23.74B	23.99B	24.56B	--
Forecast	--	--	--	--	--	--	--	--	--	--	--	--	--	--	--	19.73B	17.61B	20.20B	21.66B	21.98B	22.49B	23.64B	25.28B	23.62B	23.77B	23.36B	23.88B	23.60B	24.63B	21.04B	21.02B	21.40B	22.33B	22.17B	22.43B	21.56B	22.85B	23.76B	24.14B	23.60B
Surprise	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	+4.85%	+4.14%	+4.37%	+3.75%	+1.53%	+3.66%	-1.28%	-1.87%	-0.84%	+1.05%	+1.86%	-0.73%	+4.86%	+3.64%	+1.50%	+1.78%	-0.08%	+0.52%	+1.35%	+0.40%	+1.55%	+3.89%	+1.00%	+1.75%	0.00%

JNJ

JNJ fundamentals

JNJ Q1 2026 Earnings Preview

Earnings Call

You can ask Aime

JNJ

JNJ fundamentals

JNJ Q1 2026 Earnings Preview

Earnings Call

JNJ Earnings Call Summary for Q1/2026Upcoming8:30 AM on Apr 14, 2026

JNJ Earnings Call Summary for Q4/20258:30 AM on Jan 21, 2026

JNJ Earnings Call Summary for Q3/20258:30 AM on Oct 14, 2025

JNJ Earnings Call Summary for Q2/20258:30 AM on Jul 16, 2025

JNJ Earnings Call Summary for Q1/20258:30 AM on Apr 15, 2025

You can ask Aime