Johnson & Johnson (NYSE:JNJ) reported first-quarter results on Tuesday that beat Wall Street expectations for revenue, driven by solid growth across its pharmaceutical and medical technology businesses.
The healthcare conglomerate posted revenue of $24.06 billion for the quarter, up 9.9% from a year earlier and above analysts’ estimates of $23.61 billion.
Adjusted earnings per share came in at $2.70, slightly ahead of expectations of $2.68, though down 2.5% year-on-year.
Growth was led by the company’s Innovative Medicine division, which generated $15.43 billion in sales, an increase of 11.2% from the prior year. The MedTech segment reported revenue of $8.64 billion, up 7.7%.
Adjusted operational sales rose 5.3% in the quarter, while total operational sales growth was 6.4%.
Regionally, US sales increased 8.3% to $13.33 billion, while international revenue climbed 11.9% to $10.73 billion.
Adjusted net earnings fell 1.4% year-on-year to $6.61 billion, and free cash flow was approximately $1.5 billion.
Johnson & Johnson reaffirmed its full-year 2026 guidance, projecting revenue of $100.3 billion to $101.3 billion, with a midpoint of $100.8 billion, broadly in line with analyst expectations. The company expects adjusted earnings per share of $11.45 to $11.65 for the year, with a midpoint of $11.55.
The company also forecast adjusted operational sales growth of 5.6% to 6.6% for the full year.