Johnson & Johnson · NYSE:JNJ
Johnson & Johnson — Q1 2021 Earnings Presentation
20 slides from Johnson & Johnson's earnings presentation, Apr 20, 2021
Slide 1: Worldwide Consumer Health Sales
Worldwide Consumer Health Sales rT Consumer Health worldwide reported sales decreased (2.3)% cor (3.3)% operationally’. Primary offsets to decline: LISTERINE = ofwovts = Aveeno. Diluted Earnings Per Share Adjusted Diluted Earnings Per Share* ‘nerensed a increased a “Johnson & Johnson delivered a @q
Slide 2: 1st Quarter 2021 Earnings Call
st 1 Quarter 2021 Earnings Call April 20, 2021
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, market position and business strate
Slide 4: Strategic Partnerships, Collaborations & Licensing Arrangements
Strategic Partnerships, Collaborations & Licensing Arrangements During the course of this morning’s 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 relat
Slide 5: Agenda
Agenda 1 Enterprise Highlights 2 Sales Performance and Earnings Review 3 Capital Allocation and Guidance 4 Q&A Alex Gorsky Joaquin Duato Paul Stoffels, M.D. Chairman and Vice Chairman of the Vice Chairman of the Chief Executive Officer Executive Committee Executive Committee and Chief Scientific Off
Slide 6: 1st Quarter 2021 Sales
1st Quarter 2021 Sales % CHANGE Dollars in Billions Regional Sales Results Q1 2021 Q1 2020 Reported Operational1 U.S. $11.1 $10.7 3.9% 3.9% Europe 5.4 4.8 12.1 4.7 Western Hemisphere 1.4 1.5 (5.1) 0.0 (ex U.S.) Asia-Pacific, Africa 4.4 3.7 19.4 13.7 International 11.2 10.0 12.2 7.3 Worldwide (WW) $2
Slide 7: 1st Quarter 2021 Financial Highlights
1st Quarter 2021 Financial Highlights Dollars in Billions, except EPS Reported %; Operational %1 Sales GAAP Earnings GAAP EPS $22.3 $20.7 $6.2 $5.8 $2.32 $2.17 Q1 2021 Q1 2020 Q1 2021 Q1 2020 Q1 2021 Q1 2020 7.9%; 5.5%1 6.9% 6.9% Adjusted Earnings2 Adjusted EPS2 $6.9 $2.59 $6.2 $2.30 Q1 2021 Q1 2020
Slide 8: Consumer Health Highlights – 1st Quarter 2021
Consumer Health Highlights – 1st Quarter 2021 Solid performance across multiple franchises offset by prior year pantry loading comparisons Reported: WW (2.3)%, U.S. (7.4)%, Int’l 2.5% Key Drivers of Operational Performance1 • Operational1: WW (3.3)%, U.S. (7.4)%, Int’l 0.5% Decline primarily due to
Slide 9: Pharmaceutical Highlights – 1st Quarter 2021
Pharmaceutical Highlights – 1st Quarter 2021 Above-market performance driven by double-digit growth in 7 key products Reported: WW 9.6%, U.S. 6.4%, Int’l 13.4% Key Drivers of Operational Performance1 • Growth driven by strong uptake of STELARA in Crohn’s Disease and Ulcerative Colitis and Operationa
Slide 10: Medical Devices Highlights – 1st Quarter 2021
Medical Devices Highlights – 1st Quarter 2021 Growth primarily driven by COVID-19 related market recovery in Asia Pacific and the U.S. Reported: WW 10.9%, U.S. 5.4%, Int’l 16.2% Key Drivers of Operational Performance1 Operational1: WW 8.0%, U.S. 5.4%, Int’l 10.5% Interventional • Double-digit growth
Slide 11: Condensed Consolidated Statement of Earnings
Condensed Consolidated Statement of Earnings 1st Quarter 2021 2021 2020 % (Unaudited; Dollar and Shares in Millions Except Per Share Figures) Increase Amount % to Sales Amount % to Sales (Decrease) Sales to customers $22,321 100.0 $20,691 100.0 7.9 Cost of products sold 7,063 31.7 7,062 34.1 0.0 Gro
Slide 12: Adjusted Income Before Tax by Segment
Adjusted Income Before Tax by Segment1 1st Quarter 2021 % to Sales $8.3B 1Q 2021 1Q 2020 $7.2B Pharmaceutical 45.6% 45.3% Medical Devices 30.6% 24.2% $5.6 $5.0 Consumer Health 26.0% 24.5% Total 37.1% 35.0% $2.0 Pharmaceutical $1.4 Medical Devices $0.9 $0.9 Consumer Health ($0.2) ($0.1) 2 Expenses No
Slide 13: Joseph J. Wolk
Joseph J. Wolk Executive Vice President, Chief Financial Officer
Slide 14: Capital Allocation Strategy
Capital Allocation Strategy Dollars in Billions Q1 2021 Cash and Marketable Capital Allocation $25.0 Securities HIGHER PRIORITY Debt ($34.0) Organic growth business needs Net Debt ($9.0) Free cash flow1 Free Cash Flow2 ~$3.4 Note: values may have been rounded Q1 2021: Competitive dividends Investmen
Slide 15: Notable New Announcements in 1st Quarter 2021
st Notable New Announcements in 1 Quarter 20211 Pharmaceutical • Regulatory Decisions: – PONVORY (ponesimod) approved by U.S. FDA, an oral treatment for adults with relapsing multiple sclerosis proven superior to (teriflunomide) in reducing annual relapses and brain lesions – Johnson & Johnson Singl
Slide 16: 2021 Assumptions and Outlook
2021 Assumptions and Outlook Pharmaceutical Consumer Health Medical Devices Enterprise ‒ Ongoing focus on reaching ‒ Expect full year competitive ‒ Enhanced focus on execution, ‒ Strong YoY sales and EPS patients through growth versus the market recent innovation, and market performance transformati
Slide 17: 2021 Guidance
2021 Guidance April January Comments Adjusted Operational 8.7% - 9.9% 8.0% - 9.5% Midpoint of 9.3% Sales1,2 $89.3B - $90.3B $88.8B - $90.0B Tightening of the range and Operational Sales2 8.2% – 9.4% 7.5% – 9.0% improving operational performance $90.6B - $91.6B $90.5B - $91.7B Estimated Reported Sale
Slide 18: 2021 Segment Outlook & Sales Phasing
2021 Segment Outlook & Sales Phasing* Illustration intended to visualize quarterly phasing; Chart not to scale Enterprise Pharmaceutical Medical Devices Consumer Health Operational Sales Growth vs. 2020 Q2 2021 2H 2021 Segment Full Year Considerations Sales Phasing and Considerations • Anticipate mo
Slide 19: Q&A
Q&A Alex Gorsky Joaquin Duato Paul Stoffels, M.D. Joseph J. Wolk Chairman and Vice Chairman of the Vice Chairman of the Executive Vice President, Chief Executive Officer Executive Committee Executive Committee and Chief Financial Officer Chief Scientific Officer
Slide 20: Goluenafoluuen
Goluenafoluuen