THE WHAT? Johnson & Johnson has reported its results for the first quarter of fiscal 2022. The US manufacturer of baby care products saw sales swell 5 percent to US$23.4 billion, with operational growth of 7.7 percent. Earnings per share dropped 16.8 percent to US$1.93.
THE DETAILS In terms of regional performance, US sales inched up 2.7 percent compared to the prior year quarter while International sales rose 7.2 percent.
Drilling down by sector, the company’s Consumer Health division put in a flat performance, dipping 1.5 percent, thanks to external supply constraints, mainly impacting Skin Health / Beauty category. The Pharmaceutical unit delivered solid 6 percent sales growth and Medtech rose a respectable 5.9 percent.
THE WHY? Joaquin Duato, Chief Executive Officer, commented, “Our first quarter results demonstrate strong performance across the enterprise, despite macro-economic headwinds. I am incredibly proud of Johnson & Johnson’s 144,000 employees for their relentless passion and Credo-based commitment to delivering transformative healthcare solutions to patients and customers around the world. Looking ahead, I remain confident in the future of Johnson & Johnson as we continue advancing our portfolio and innovative pipeline.”