Johnson & Johnson (NYSE:JNJ) raised its full-year guidance after a strong third quarter which saw earnings beat expectations and its product pipeline advance.
Still, Wall Street expects the New Brunswick, New Jersey-based pharmaceutical giant to post a dip in earnings when it reports back for the fourth quarter next Tuesday.
J&J raised guidance raised its 2023 guidance to include adjusted operational sales growth of between 7.2% to 7.7% with a mid-point of 7.5%.
Reported sales are seen between $84.4–$84.8 billion and adjusted earnings per share (EPS) is forecast between $10.02–$10.08.
For the December quarter, the consensus estimate of analysts polled by Zacks Investment Research is for EPS of $2.27, down from $2.35 in 4Q 2022.