Johnson & Johnson (JNJ) Q3 2026 Earnings Call: Sales Guidance Raised
Source Tradingkey
Key Takeaways
- Johnson & Johnson reported Q3 2026 worldwide sales of $25.4 billion, up 6.0% operationally. U.S. sales increased 9.1%, while sales outside the U.S. rose 1.8%.
- Innovative Medicine sales grew 7.9% to $16.8 billion, supported by oncology growth of approximately 17% and strong demand for TREMFYA, CAPLYTA, SPRAVATO and RYBREVANT plus LAZCLUZE.
- MedTech sales increased 2.5% to $8.6 billion. Shockwave grew 17.2%, but Abiomed declined 1.5% and Surgery fell 1.0% amid international headwinds.
- GAAP net earnings were $210 million, or $0.09 per diluted share, reflecting the proposed talc litigation resolution and transaction-related expenses. Adjusted EPS declined 7.5% to $2.59.
- Management raised and narrowed 2026 operational sales growth guidance to 6.7%-7.1%, with operational sales of $100.7 billion at the midpoint.
- The company expects its existing portfolio, new launches and internal strategic investments to support double-digit growth by the end of the decade. Management clarified that this objective does not assume additional M&A.
Key Financial Results
| Metric | Q3 2026 | Change / Commentary |
|---|---|---|
| Worldwide sales | $25.4 billion | Up 6.0% operationally |
| U.S. sales growth | — | 9.1% |
| International sales growth | — | 1.8% |
| Innovative Medicine sales | $16.8 billion | Up 7.9% |
| MedTech sales | $8.6 billion | Up 2.5% |
| GAAP net earnings | $210 million | Impacted by talc litigation and transaction expenses |
| GAAP diluted EPS | $0.09 | Down from $2.12 in Q3 2025 |
| Adjusted net earnings | $6.3 billion | Down 6.8% |
| Adjusted diluted EPS | $2.59 | Down 7.5% |
| R&D spending | Approximately $4.7 billion | 18.3% of sales; includes $1 billion related to Firefly Bio |
| Free cash flow | More than $6 billion | Full-year guidance remains approximately $21 billion |
| Cash and marketable securities | Approximately $17 billion | At quarter-end |
| Debt | Approximately $45 billion | Net debt of approximately $28 billion |
Disclaimer: For information purposes only. Past performance is not indicative of future results.
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