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Johnson & Johnson tops estimates, boosts earnings guidance

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Johnson & Johnson

Johnson & Johnson (NYSE:JNJ) kicked off quarterly earnings season by beating Wall Street estimates and raising the bottom end of its earnings guidance, sending JNJ shares up modestly despite declining third-quarter earnings.

The New Brunswick, N.J.-based health care conglomerate reported profits of $3.20 billion, or $1.15 per diluted share, on sales of $16.01 billion for the three months ended Sept. 30.

That’s a bottom-line slide of 6.3 percent compared with earnings of $3.42 billion, or $1.23 diluted EPS, on sales of $15.0 billion during the same period last year.

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Absent a 9-cent-per-share charge to cover Johnson & Johnson’s $2.3 billion buyout of Synthes (VTX:SYST), however, earnings were $3.4 billion, or $1.24 per share – ahead of analysts’ expectations of $1.21 per adjusted share.

The company’s medical device & diagnostics division posted sales of $6.3 billion, up 6.1 percent largely due to a 12.3 percent boost from international revenues of $3.50 billion. U.S. sales were down 0.7 percent to $2.80 billion.

“Primary contributors to operational growth included Ethicon’s surgical care products; Ethicon Endo-Surgery’s Advanced Sterilization Products and international sales of minimally invasive products; and Biosense Webster’s electrophysiology business,” the company said in a press release.

Shares of JNJ were up 0.1 percent to $63.87 as of about 12:30 today.

Here’s a look at how the MD&D division’s segments broke down for the quarter (in millions):

CARDIOVASCULAR CARE
US $198 $246 -19.5%
Intl $328 $350 -6.3%
WW $526.00 $596.00 -11.7%
DEPUY
US $737 $748 -1.5%
Intl $647 $561 15.3%
WW $1,384.00 $1,309.00 5.7%
DIABETES CARE
US $338 $338 0.0%
Intl $326 $275 18.5%
WW $664.00 $613.00 8.3%
ETHICON ENDO-SURGERY
US $472 $484 -2.5%
Intl $759 $653 16.2%
WW $1,231.00 $1,137.00 8.3%
ORTHO-CLINICAL DIAGNOSTICS
US $265 $263 0.8%
Intl $274 $235 16.6%
WW $539.00 $498.00 8.2%
VISION CARE
US $251 $241 4.1%
Intl $501 $454 10.4%
WW $752 $695 8.2%

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