NEW BRUNSWICK (dpa-AFX) - Drug major Johnson & Johnson (JNJ), while
reporting a profit in its first quarter, compared to prior year's loss, on
higher revenues, on Tuesday increased the midpoint for fiscal 2024 guidance for
adjusted operational earnings per share and operational sales growth view.
Meanwhile, it trimmed the midpoint of operational sales forecast in figures.

In pre-market activity on the NYSE, JNJ shares were losing around 1.8 percent to
trade at $145.01.

For fiscal 2024, the company now expects adjusted earnings per share of $10.57
to $10.72, with a midpoint of $10.65. This represents a year-over-year growth of
6.6 percent to 8.1 percent.

The company previously expected adjusted earnings per share of $10.55 to $10.75,
with a midpoint of $10.65, a growth of 6.4 percent to 8.4 percent.

Adjusted operational earnings per share is now expected to be $10.60 to $10.75,
with a midpoint of $10.68. This represents a year-over-year growth of 6.9
percent to 8.4 percent.

The company's previous estimate was for earnings per share of $10.55 to $10.75,
with a midpoint of $10.65, a growth of 6.4 percent to 8.4 percent.

For the year, sales are now projected to be $88 billion to $88.4 billion,
compared to previously expected $87.8 billion to $88.6 billion, while mid point
remains at $88.2 billion. The revised outlook represents a growth of 4.7 percent
to 5.2 percent.

Operational sales are now projected to be $88.7 billion to $89.1 billion, with a
mid point of $88 billion. This is compared to previously expected $88.2 billion
to $89 billion, with a mid point at $88.6 billion. The revised outlook
represents a growth of 5.5 percent to 6 percent, up from previously expected
growth of 5 percent to 6 percent.

Adjusted operational sales growth is now expected to be 5.5 percent to 6.0
percent, compared to previously expected growth of 5.0 percent to 6.0 percent.

In fiscal 2023, adjusted income per share was $9.92 on sales of $85.159 billion.

Analysts on average expect the company to report earnings of $10.65 per share on
sales of $88.43 billion for the year, according to figures compiled by Thomson
Reuters. Analysts' estimates typically exclude special items.

In the first quarter, earnings were $5.35 billion, compared to loss of $491
million in the same period last year. Earnings per share were $2.20, compared to
last year's loss of $0.19.

Adjusted earnings were $6.58 billion or $2.71 per share for the period, compared
to $6.34 billion or $2.41 per share last year, while analysts projected $2.64
per share.

Revenue for the quarter grew 2.3 percent to $21.38 billion from $20.89 billion
in the same period last year. Operational sales increased 3.9 percent.

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