Illustration of the Johnson & Johnson Coronavirus Vaccine
Given Ruvic | Reuters
Johnson & Johnson reported fourth-quarter earnings and revenue on Tuesday that exceeded Wall Street’s expectations. The company also said it would release important details about its coronavirus vaccine “soon”.
This is how J&J compares to what Wall Street expected, according to average estimates compiled by Refinitiv:
- Adjusted earnings per share: $ 1.86 per share vs. $ 1.82 expected.
- Revenue: $ 22.48 billion vs. $ 21.67 billion forecast.
“I am incredibly proud of our Johnson & Johnson teams around the world who are doing their utmost to meet the needs of stakeholders,” said Alex Gorsky, CEO of J&J, in a press release. “We continue to make progress with our COVID-19 vaccine candidate and look forward to sharing details of our Phase 3 trial soon.”
After the report, J & J’s stock price was essentially flat in premarket trading.
J & J’s pharmaceutical business, which is working on a coronavirus vaccine, generated $ 12.26 billion in revenue, up 16% year-on-year. The company’s consumer unit, which makes products like Listerine, generated $ 3.6 billion in revenue, 1.4% more than a year earlier. The medical devices unit generated $ 6.58 billion, down 0.7%.
The company forecasts adjusted earnings between $ 9.40 and $ 9.60 per share for 2021.
J&J is expected to release data from the phase three trial testing the Covid-19 vaccine as early as this week.
US officials and Wall Street analysts are eagerly awaiting federal approval of J & J’s vaccine, which could happen next month. Unlike the approved vaccines from Pfizer and Moderna, which require two doses to be administered approximately three to four weeks apart, J & J’s requires only one dose. This means that patients do not have to come back for a new dose, simplifying logistics for healthcare providers.