Johnson & Johnson · NYSE:JNJ
Johnson & Johnson — Q1 2023 Earnings Presentation
20 slides from Johnson & Johnson's earnings presentation, Apr 18, 2023
Slide 1: 1st Quarter 2023 Results
ist Quarter 2023 Results fohwenafohwon 1st Quarter 2023 Sales : ‘ $3.9 Worldwide Consumer Health Sales Worldwide Worldwide 7 Billion Increased « Excluding acquisitions/ $24.7B 5.6% | wm 76% Consumer Health worldwide reported sales increased 7.4% Increased ~ or 11.3% operationally’. Primary operation
Slide 2: 1st Quarter 2023 Earnings Call
1 Quarter 2023 st Earnings Call April 18, 2023
Slide 3: Cautionary Note on Forward-looking Statements and Non-GAAP Financial Measures
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, market position and business strate
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 Enterprise Highlights 2 Sales Performance and Earnings Review 3 Capital Allocation and Guidance 4 Q&A Ashley McEvoy Joseph J. Wolk Jessica Moore Executive Vice President, Executive Vice President, Vice President, Worldwide Chairman, Chief Financial Officer Investor Relations MedTech 5
Slide 6: 1st Quarter 2023 Sales
1st Quarter 2023 Sales % CHANGE Dollars in Billions Regional Sales Results Q1 2023 Q1 2022 Reported Operational1 U.S. $12.5 $11.4 9.7% 9.7% Europe 6.3 6.0 5.1 10.0 Western Hemisphere 1.6 1.5 7.1 14.3 (ex U.S.) Asia-Pacific, Africa 4.3 4.5 (4.3) 4.1 International 12.2 12.0 1.8 8.3 Worldwide (WW) $24.
Slide 7: 1st Quarter 2023 Financial Highlights
1st Quarter 2023 Financial Highlights Dollars in Billions, except Earnings / (Loss) Per Share Reported %; Operational %1 GAAP Earnings / (Loss) Sales GAAP Earnings / (Loss) Per Share (Basic / Diluted)* $24.7 $23.4 $5.1 $1.93 ($0.1) ($0.03) Q1 2023 Q1 2022 Q1 2023 Q1 2022 Q1 2023 Q1 2022 5.6%; 9.0%1
Slide 8: Consumer Health Highlights – 1st Quarter 2023
Consumer Health Highlights – 1st Quarter 2023 Operational growth1 across all franchises and regions primarily driven by OTC and Skin Health Reported: WW 7.4%, U.S. 11.4%, Int’l 4.4% Key Drivers of Operational Performance1 Operational1: WW 11.3%, U.S. 11.4%, Int’l 11.3% • Growth driven by price actio
Slide 9: Pharmaceutical Highlights – 1st Quarter 2023
Pharmaceutical Highlights – 1st Quarter 2023 Continued strong operational growth1 driven by key brands Key Drivers of Operational Performance1 Reported: WW 4.2%, U.S. 5.9%, Int’l 2.4% • STELARA increase driven by market and share growth in both CD and UC, partially offset Operational1: WW 7.2%, U.S.
Slide 10: MedTech Highlights – 1st Quarter 2023
MedTech Highlights – 1st Quarter 2023 Operational growth1 fueled by Abiomed acquisition, market acceleration, and innovation across all franchises Reported: WW 7.3%, U.S. 16.6%, Int’l (0.6)% Key Drivers of Operational Performance1 • Electrophysiology: Double digit increases in all regions except Asi
Slide 11: Condensed Consolidated Statement of Earnings
Condensed Consolidated Statement of Earnings 1st Quarter 2023 2023 2022 % Increase (Unaudited; Dollar and Shares in Millions Except Per Share Figures) Amount % to Sales Amount % to Sales (Decrease) Sales to customers $24,746 100.0 $23,426 100.0 5.6 Cost of products sold 8,395 33.9 7,598 32.4 10.5 Gr
Slide 12: Adjusted Income Before Tax by Segment
Adjusted Income Before Tax by Segment1 1st Quarter 2023 % to Sales $8.5B Q1 2023 Q1 2022 $8.2B Pharmaceutical 43.2% 44.1% MedTech 27.0% 27.0% $5.8 $5.6 Consumer Health 22.3% 22.1% Total 34.2% 35.1% Pharmaceutical $2.0 $1.9 MedTech $0.9 $0.8 Consumer Health ($0.2) ($0.1) 2 Expenses Not Allocated to S
Slide 13: Joseph J. Wolk
Joseph J. Wolk Executive Vice President, Chief Financial Officer
Slide 14: Notable Announcements in 1st Quarter 2023
1 Notable Announcements in 1st Quarter 2023 Pharmaceutical • Regulatory: – Janssen Receives Positive CHMP Opinion for AKEEGA (Niraparib and Abiraterone Acetate Dual Action Tablet) Plus Prednisone or Prednisolone for the Treatment of Adult Patients with BRCA1/2 Gene-Mutated Metastatic Castration Resi
Slide 15: Capital Allocation Strategy
Capital Allocation Strategy Dollars in Billions Q1 2023 Cash and Marketable Capital Allocation $33 Securities* HIGHER PRIORITY Debt** ($53) Organic growth business needs Net Debt ($20) Free cash flow1 Free Cash Flow1,2 ~$2.5. Note: values may have been rounded Q1 2023: Competitive dividends Investme
Slide 16: 2023 P&L Guidance
2023 P&L Guidance Raising top- and bottom-line guidance due to strong Q1 performance April January Comments Adjusted Operational Sales1,2,6 4.5% - 5.5% 3.5% - 4.5% Increasing midpoint to 5.0% $97.9B - $98.9B $96.9B - $97.9B Operational Sales2,6 Increasing midpoint by $1B to 6.0% 5.5% – 6.5% 4.5% – 5
Slide 17: Enterprise Business Review – Save the Date
Save the Date Introducing Our First Ever… Enterprise Business Review Focused on the New Johnson & Johnson Tuesday, December 5, 2023 New York Stock Exchange
Slide 18: Q&A
Q&A Ashley McEvoy Joseph J. Wolk Jessica Moore Executive Vice President, Executive Vice President, Vice President, Worldwide Chairman, Chief Financial Officer Investor Relations MedTech
Slide 19: Gohwrenatohnren
Gohwrenatohnren
Slide 20: Pharmaceutical Pipeline — Key Events in 2023
Pharmaceutical Pipeline — Key Events in 2023* POTENTIAL APPROVALS US/EU PLANNED SUBMISSIONS US/EU POTENTIAL CLINICAL DATA Phase III Phase II niraparib ¥ Us niraparib IMBRUVICA (ibrutinib) BALVERSA (erdafitinib) fag BG BS L1 Prostate cancer metastatic castration- resistant in combination with abirate