Illustration of Johnson & Johnson Coronavirus vaccine
Dat Ruvic | Reuters
Johnson & Johnson reported fourth-quarter earnings and earnings on Tuesday that exceeded Wall Street expectations. The company also said it would publish key details about its coronavirus vaccine “soon.”
Here’s how J&J did compared to what Wall Street expected, according to average estimates compiled by Refinitiv:
- Adjusted EPS: $ 1.86 per share versus the expected $ 1.82.
- Revenue: $ 22.48 billion compared to $ 21.67 billion expected.
“I am incredibly proud of our Johnson & Johnson teams around the world because they go beyond meeting the needs of stakeholders,” said Alex Gorsky, CEO of J&J, in a press release. “We are continuing to advance our candidate for the COVID-19 vaccine and look forward to sharing details from our Phase 3 study soon.”
J & J’s share price was essentially fixed in premarket trading after the report.
J & J’s pharmaceutical business, which works on a coronavirus vaccine, has generated revenue of $ 12.26 billion, a 16% year-over-year increase. The company’s consumer unit, which produces products such as Listerine, generated revenue of $ 3.6 billion, up 1.4% from a year earlier. Its medical device unit generated $ 6.58 billion, down 0.7%.
The company forecasts an adjusted profit in 2021 between $ 9.40 and $ 9.60 per share.
J&J is expected to release data from the third phase study testing the Covid-19 vaccine as early as this week.
US officials and Wall Street analysts are looking forward to the federal authorization of the J&J vaccine, which could take place as early as next month. Unlike Pfizer and Moderna licensed vaccines, which require two doses given every three to four weeks, J&J requires a single dose. This means that patients will not have to return for another dose, simplifying logistics for healthcare providers.