Slide 1: Johnson & Johnson Updated Financials & 2023 Guidance
Johnson & Johnson Updated Financials & 2023 Guidance August 30, 2023
Slide 2: 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 3: Agenda
Agenda 1 Recast Consolidated Statement of Earnings 2 Consumer Health Separation Milestones 3 Updated 2023 J&J Guidance and Capital Allocation Joseph J. Wolk Jessica Moore Executive Vice President, Vice President, Chief Financial Officer Investor Relations 3
Slide 4: Condensed Consolidated Statement of Earnings
Condensed Consolidated Statement of Earnings SIX MONTHS 2023 (RECAST) SIX MONTH 2022 (RECAST) % Increase (Unaudited; Dollar and Shares in Millions Except Per Share Figures) Amount % to Sales Amount % to Sales (Decrease) Sales to customers $42,413 100.0 $40,055 100.0 5.9 Cost of products sold 13,149
Slide 5: Joseph J. Wolk
Joseph J. Wolk Executive Vice President, Chief Financial Officer
Slide 6: Separation Milestones & Accomplishments
Separation Milestones & Accomplishments Executed Kenvue Initial Public Offering • Executed one of the largest and most complex initial public offerings (IPO) in history Completed Separation Within Targeted Timeframe • Separation completed within 21 months of announcement despite heightened market vo
Slide 7: 2023 P&L Guidance
2023 P&L Guidance August guidance has been recast to reflect the continuing operations of Johnson & Johnson August July Comments (excl. Consumer Health) (incl. Consumer Health)7 Increase by +0.2% due to the Adjusted Operational Sales1,2,6 6.2% - 7.2% 6.0% - 7.0% removal of Consumer Health sales $83.
Slide 8: Johnson & Johnson + Kenvue Guidance
Johnson & Johnson + Kenvue Guidance What is the combined separate companies’ Adjusted Earnings Per Share1,2,3 Guidance Midpoint compared to Johnson & Johnson's July Guidance including Consumer Health results? Estimated Johnson & Johnson Adjusted Estimated Kenvue Adjusted Earnings Combined Separate C
Slide 9: Capital Allocation Strategy
Capital Allocation Strategy Capital Allocation HIGHER PRIORITY • Maintaining 2023 quarterly dividend per share Organic growth business needs • Reducing absolute, annualized, future dividend payments by >$900 million as a result of the reduced outstanding share count through the exchange offer Free c
Slide 10: Enterprise Business Review
Reminder: 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 11: Goluenafoluuen
Goluenafoluuen