Johnson & Johnson · NYSE:JNJ
Johnson & Johnson — Q2 2026 Earnings Presentation
24 slides from Johnson & Johnson's earnings presentation, Jul 15, 2026
Slide 1: 2nd Quarter 2026 Results
2°¢ Quarter 2026 Results Chairman & Chief Executive Officer Johnson & Johnson Johnson & Johnson delivered strong second- quarter results, demonstrating the power of our innovation, the depth of our portfolio and the momentum in our pipeline as we advance transformative treatments that address the wo
Slide 2: 2nd Quarter 2026 Earnings Call
2 Quarter 2026 nd Earnings Call July 15, 2026
Slide 3: Cautionary note on Forward-looking statements
Cautionary note on Forward-looking statements This presentation contains “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995 regarding, among other things: future operating and financial performance, product development, and market position and business st
Slide 4: Strategic partnerships, collaborations & licensing arrangements
Strategic partnerships, collaborations & licensing arrangements During the course of this presentation, we will discuss a number of products and compounds developed in collaboration with strategic partners or licensed from other companies. The following is an acknowledgement of those relationships:
Slide 5: Agenda
Agenda 1 CEO Remarks 2 Sales performance and earnings review 3 Capital allocation and guidance update 4 Q&A Joaquin Duato Jennifer Taubert Tim Schmid Chairman and Executive Vice President, Executive Vice President, Chief Executive Officer Worldwide Chairman, Worldwide Chairman, Innovative Medicine M
Slide 6: Joaquin Duato
Joaquin Duato Chairman and Chief Executive Officer
Slide 7: Q2 Earnings Summary
Q2 Earnings Summary Six key businesses driving growth 5.6% operational sales growth 1,2 1 Non-GAAP measure; excludes the impact of translational currency; see reconciliation schedules on the Investor Relations section of the company's website 7 2 Includes an approximate (460) basis point headwind fr
Slide 8: Innovative Medicine: 6.8% operational sales growth
Innovative Medicine: 6.8% operational sales growth 1,2 Oncology Immunology Neuroscience 1 Non-GAAP measure; excludes the impact of translational currency; see reconciliation schedules on the Investor Relations section of the company's website 2 Includes an approximate (760) basis point headwind from
Slide 9: MedTech: 3.6% operational sales growth
MedTech: 3.6% operational sales growth 1 Cardiovascular Surgery Vision ACUVUE® OASYS 1-Day Family VARIPULSE Platform Dual Energy THERMOCOOL SMARTTOUCH SF Catheter ETHICON 4000 OTTAVA MONARCH Surgical Stapler Robotic Flexible Robotics Surgical Platform System Shockwave Intravascular Impella® Heart OM
Slide 10: Leading the next wave of healthcare innovation
Leading the next wave of healthcare innovation 10
Slide 11: Ryan Koors
Ryan Koors Vice President, Investor Relations
Slide 12: 2nd Quarter 2026 sales
2nd Quarter 2026 sales % Change Dollars in billions Regional sales results Q2 2026 Q2 2025 Reported Operational1 U.S. $14.5 $13.5 7.3% 7.3% Europe 5.7 5.4 6.3 3.3 Western Hemisphere 1.3 1.2 8.5 2.7 (ex U.S.) Asia-Pacific, Africa 3.7 3.6 3.8 3.9 International 10.8 10.2 5.7 3.4 Worldwide (WW) $25.3 $2
Slide 13: 2nd Quarter 2026 financial highlights
2nd Quarter 2026 financial highlights Dollars in billions, except EPS Reported %; Operational %1 Sales GAAP earnings GAAP EPS $25.3 $23.7 $5.5 $5.5 $2.27 $2.29 Q2 2026 Q2 2025 Q2 2026 Q2 2025 Q2 2026 Q2 2025 6.6%; 5.6%1 (0.1)% (0.9)% Adjusted earnings2 Adjusted EPS2 $7.1 $6.7 $2.90 $2.77 Q2 2026 Q2
Slide 14: Innovative Medicine highlights – 2nd quarter 2026
Innovative Medicine highlights – 2nd quarter 2026 Strong operational growth1 of 6.8% driven primarily by new product launches Stelara impacted results1 by ~(760) basis points Key drivers of operational performance1 Reported: WW 7.8%, U.S. 8.9%, Int’l 6.0% • DARZALEX increase primarily driven by stro
Slide 15: MedTech highlights – 2nd quarter 2026
MedTech highlights – 2nd quarter 2026 Solid operational growth1 of 3.6% driven primarily by commercial execution and innovation Key drivers of operational performance1 Reported: WW 4.5%, U.S. 3.9%, Int’l 5.2% • Electrophysiology: Increase driven by procedure growth, commercial execution, new Operati
Slide 16: Condensed consolidated statement of earnings
Condensed consolidated statement of earnings 2nd Quarter 2026 2026 2025 % Increase (Unaudited; Dollars and shares in millions except per share figures) Amount % to Sales Amount % to Sales (Decrease) Sales to customers $25,310 100.0 $23,743 100.0 6.6 Cost of products sold 8,051 31.8 7,628 32.1 5.5 Gr
Slide 17: Adjusted earnings before provision for taxes on income by segment
Adjusted earnings before provision for taxes on income by segment 2nd Quarter 2026 (Unaudited; Dollars in millions) 2026 2025 % Innovative Medicine Amount % to Sales Amount % to Sales Increase (Decrease) Sales to customers $16,384 100.0 $15,202 100.0 7.8 Cost of products sold 3,505 21.4 3,180 20.9 1
Slide 18: Joseph J. Wolk
Joseph J. Wolk Executive Vice President, Chief Financial Officer
Slide 19: Capital allocation strategy
Capital allocation strategy Dollars in billions Q2 2026 Cash and marketable $20.8 securities Capital allocation Higher Debt ($49.0) priority Organic growth business needs Net debt ($28.2) Free cash flow1,2 ~$8.7 Free cash flow1 Note: Values may be rounded Q2 2026: $3.7B invested in R&D Competitive d
Slide 20: 2026 P&L guidance
2026 P&L guidance Operational2 sales guidance of 6.8% and adjusted operational EPS2,4 at 7.3% (midpoints) July 2026 April 2026 Comments Tightening range; Adjusted operational sales1,2 6.2% - 6.8% 5.6% - 6.6% Increasing midpoint to 6.5% $100.3B - $100.9B $99.7B - $100.7B Tightening range; Operational
Slide 21: Anticipated 2026 milestones driving long-term value creation
Anticipated 2026 milestones driving long-term value creation 1 Innovative Medicine MedTech TECVAYLI + TALVEY in RRMM Dual Energy THERMOCOOL STSF Pasritamig in prostate cancer C2 Aero Catheters JNJ-6413 in prostate cancer VARIPULSE Pro INLEXZO in HR NMIBC OTTAVA ICOTYDE in PsA ETHICON 4000 CAPLYTA in
Slide 22: Q&A
Q&A Joaquin Duato Jennifer Taubert Tim Schmid Chairman and Executive Vice President, Executive Vice President, Chief Executive Officer Worldwide Chairman, Worldwide Chairman, Innovative Medicine MedTech Joseph J. Wolk John Reed Ryan Koors Executive Vice President, Executive Vice President, Vice Pres
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Slide 24: Johnson & Johnson Innovative Medicine Pipeline Key Events in 2026
Johnson & Johnson Innovative Medicine Pipeline Key Events in 2026* POTENTIAL APPROVALS US/EU PLANNED SUBMISSIONS US/EU POTENTIAL CLINICAL DATA PRESENTATIONS¹ Phase III Phase I/ II US TREMFYA (guselkumab) US nipocalimab US ERLEADA (apalutamide) ICOTYDE (icotrokinra) ERLEADA (apalutamide) JN