Illustration of the Johnson & Johnson coronavirus vaccine
Atès Ruvic | Reuters
Johnson & Johnson reported fourth-quarter revenue and earnings on Tuesday that exceeded Wall Street expectations. The company also said it will release key details about its coronavirus vaccine “soon.”
According to the average estimates compiled by Refinitiv, we explain how J&J did compared to what Wall Street expected:
- Adjusted EPS: $ 1.86 per share versus $ 1.82 expected.
- Revenue: $ 22.488 billion versus $ 21.677 million expected.
“I am incredibly proud of our Johnson & Johnson teams around the world for overcoming and meeting the needs of stakeholders,” Alex Gorsky, CEO of J&J, said in a press release. “We continue to move forward with our candidate for the COVID-19 vaccine and look forward to sharing the details of our phase 3 study soon.”
Following the report, the price of J&J shares was essentially flat in premarket trading.
J&J’s pharmaceutical business, which works on a coronavirus vaccine, generated $ 12.266 billion in revenue, up 16% from the previous year. The company’s consumer unit, which manufactures products such as Listerine, generated revenue of $ 3.6 billion, 1.4% more than the previous year. Its medical device unit generated $ 6.58 million, a decrease of 0.7%.
The company expects an adjusted profit for 2021 of between $ 9.40 and $ 9.60 per share.
J&J is expected to release data from its phase three trial testing of the Covid-19 vaccine as early as this week.
U.S. officials and Wall Street analysts are eagerly anticipating the federal authorization of the J&J vaccine, which could happen as early as next month. Unlike Pfizer and Moderna authorized vaccines, which require two doses administered three to four weeks apart, J&Js only require one dose. This means patients will not have to take another dose again, simplifying logistics for healthcare providers.