Johnson & Johnson coronavirus vaccine illustration
Given Ruvic | Reuters
Johnson & Johnson released fourth quarter earnings and revenues on Tuesday that exceeded Wall Street expectations. The company also said it would release important details about its coronavirus vaccine “soon”.
See how J&J fared compared to what Wall Street expected, according to the average estimates compiled by Refinitiv:
- Adjusted EPS: $ 1.86 per share against the expected $ 1.82.
- Revenue: $ 22.48 billion versus expected $ 21.67 billion.
“I am incredibly proud of our Johnson & Johnson teams around the world for going above and beyond to meet the needs of stakeholders,” said Alex Gorsky, CEO of J&J, in a press release. “We continue to make progress on our vaccine candidate COVID-19 and look forward to sharing details of our Phase 3 study soon.”
The J&J stock price was essentially stable in the pre-market after the report.
J&J’s pharmaceutical business, which is working on a coronavirus vaccine, generated $ 12.26 billion in revenue, an increase of 16% year on year. The company’s consumer unit, which makes products like Listerine, generated $ 3.6 billion in revenue, 1.4% more than the previous year. Its medical device unit generated $ 6.58 billion, a decrease of 0.7%.
The company expects adjusted earnings in 2021 to be between $ 9.40 and $ 9.60 per share.
J&J is due to release data from its phase three trial testing its Covid-19 vaccine as early as this week.
American officials and Wall Street analysts are anxiously awaiting federal authorization for the J&J vaccine, which could happen as early as next month. Unlike authorized Pfizer and Moderna vaccines, which require two doses administered every three to four weeks, J&J requires only one dose. This means that patients will not have to return for another dose, simplifying logistics for healthcare professionals.