Slide 1: 1st Quarter 2024 Results
1st Quarter 2024 Results’ Johnson & Johnson’s solid first quarter performance reflects our sharpened focus and the progress in our portfolio and pipeline. Our impact across the full spectrum of healthcare is unique in our industry, and the milestones achieved this quarter reinforce our position as a
Slide 2: 1st Quarter 2024 Earnings Call
1S* Quarter 2024 Earnings Call April 16, 2024 Johnson&Johnson
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, 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 Enterprise highlights 2 Sales performance and earnings review 3 Capital allocation and guidance 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 Medicin
Slide 6: Jessica Moore, Vice President, Investor Relations
Jessica Moore Vice President, Investor Relations
Slide 7: 1st Quarter 2024 sales
1st Quarter 2024 sales % Change Dollars in billions Regional sales results1 Q1 2024 Q1 2023 Reported Operational2 Operational2 ex COVID-19 Vaccine U.S. $11.6 $10.8 7.8% 7.8% 7.8% Europe 5.2 5.6 (7.6) (7.7) 6.0 Western Hemisphere 1.2 1.1 11.0 21.3 21.3 (ex U.S.) Asia-Pacific, Africa 3.4 3.4 (1.1) 5.0
Slide 8: 1st Quarter 2024 financial highlights
1 Quarter 2024 financial highlights st 1 Dollars in billions, except EPS Reported %; Operational %2 GAAP earnings / (loss) per share Sales GAAP earnings / (loss) (diluted / basic*) $21.4 $20.9 $5.4 $2.20 ($0.5) ($0.19) Q1 2024 Q1 2023 Q1 2024 Q1 2023 Q1 2024 Q1 2023 2.3%; 3.9%2, 7.6%2,4 Adjusted ear
Slide 9: Innovative Medicine highlights – 1st quarter 2024
Innovative Medicine highlights – 1st quarter 2024 Strong adjusted operational growth1 of 8.3%3 driven by Oncology, PH, and Immunology Reported: WW 1.1%, U.S. 8.4%, Int’l (6.9)% Key drivers of operational performance1 Operational1,3: WW 8.3%, U.S. 8.4%, Int’l 8.3% • TREMFYA increase due to market gro
Slide 10: MedTech highlights – 1st quarter 2024
MedTech highlights – 1st quarter 2024 Solid operational growth1 due to procedures, strong commercial execution, and innovation Key drivers of operational performance1 Reported: WW 4.5%, U.S. 6.6%, Int’l 2.4% • Electrophysiology: Double-digit increase driven by global procedure growth, new products (
Slide 11: Condensed consolidated statement of earnings
Condensed consolidated statement of earnings 1 1st Quarter 2024 2024 2023 % Increase (Unaudited; Dollar and shares in millions except per share figures) Amount % to Sales Amount % to Sales (Decrease) Sales to customers $21,383 100.0 $20,894 100.0 2.3 Cost of products sold 6,511 30.4 6,687 32.0 (2.6)
Slide 12: Adjusted income before tax by segment
Adjusted income before tax by segment 1,2 1st Quarter 2024 $7.9B % to sales $7.5B Q1 2024 Q1 2023 FY 2023 Innovative 42.9% 42.9% 42.0% Medicine MedTech 26.4% 26.5% 23.7% $5.8 $5.8 Total 36.8% 36.1% 35.0% Innovative Medicine MedTech $2.1 $2.0 Expenses not allocated to segments ($0.2) 2024 2024 33 202
Slide 13: Joseph J. Wolk, Chief Financial Officer
Joseph J. Wolk Executive Vice President, Chief Financial Officer
Slide 14: Notable announcements in 1st quarter 2024
Notable announcements in 1 quarter 2024 st 1 Innovative Medicine • Regulatory: – CARVYKTI is the First and Only BCMA-Targeted Treatment Approved by the U.S. FDA for Patients with Relapsed or Refractory Multiple Myeloma Who Have Received At Least One Prior Line of Therapy2 – Johnson & Johnson’s nipoc
Slide 15: Capital allocation strategy
Capital allocation strategy Dollars in billions Q1 2024 Capital allocation Cash and marketable $26 Higher securities priority Debt ($34) Organic growth business needs Net debt ($7) Free cash flow1 Free cash flow1,2 ~$3. Note: Values may be rounded Q1 2024: Competitive dividends Investment in M&A $3.
Slide 16: 2024 P&L guidance
2024 P&L guidance 1 Tightening the range and increasing the midpoint of operational sales and adjusted operational EPS guidance (Guidance excludes impact from the recently announced acquisition of Shockwave Medical) April January Comments 2024 2024 Tightening range; Adjusted operational sales2,3,7 5
Slide 17: Phasing Considerations
Phasing Considerations • Expect slightly stronger sales growth in the first half of the year compared to the second Innovative Continued uptake from recently launched products Medicine Anticipated entry of Stelara biosimilars in Europe towards the middle of the year • Operational sales growth ex
Slide 18: 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 Jessica Moore Executive Vice President, Executive Vice President, Vice P
Slide 19: Slide footer goes here if required
Slide footer goes here if required 19
Slide 20: Innovative Medicine Pipeline Key Events in 2024
Johnson & Johnson Innovative Medicine Pipeline Key Events in 2024* POTENTIAL APPROVALS US/EU PLANNED SUBMISSIONS US/EU POTENTIAL CLINICAL DATA Sum of Check Change Sum of Check Change Sum Phase of Check III Change OPSUMIT (macitentan) US OPSUMIT (macitentan) US SIMPONI (golimumab) TREMFYA (guselkumab