Johnson & Johnson · NYSE:JNJ
Johnson & Johnson — Q1 2022 Earnings Presentation
19 slides from Johnson & Johnson's earnings presentation, Apr 19, 2022
Slide 1: 1st Quarter 2022 Results
1st Quarter 2022 Results $23.4B 5.0% | Diluted Earnings Per Share Worldwide Excluding acquisitions/ Increased = dives! oy * operational basis 7. 9 % Adjusted ited Earnings Per Share* $3.6 Billion fofnucnafohnron Worldwide Consumer Health Sales? ‘Consumer Health worldwide reported sales decreased (1.
Slide 2: 1st Quarter 2022 Earnings Call
st 1 Quarter 2022 Earnings Call April 19, 2022
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 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 Thibaut Mongon Jennifer Taubert Joseph J. Wolk Jessica Moore Executive Vice President Executive Vice President Executive Vice President Executive Vice President Vice President
Slide 6: 1st Quarter 2022 Sales
1st Quarter 2022 Sales % CHANGE Dollars in Billions Regional Sales Results Q1 2022 Q1 2021 Reported Operational1 U.S. $11.4 $11.1 2.7% 2.7% Europe 6.0 5.4 11.3 19.5 Western Hemisphere 1.5 1.4 4.1 5.1 (ex U.S.) Asia-Pacific, Africa 4.5 4.4 3.1 6.6 International 12.0 11.2 7.2 12.6 Worldwide (WW) $23.4
Slide 7: 1st Quarter 2022 Financial Highlights
1st Quarter 2022 Financial Highlights Dollars in Billions, except EPS Reported %; Operational %1 Sales GAAP Earnings GAAP EPS $23.4 $6.2 $2.32 $22.3 $5.1 $1.93 Q1 2022 Q1 2021 Q1 2022 Q1 2021 Q1 2022 Q1 2021 5.0%; 7.7%1 (16.9)% (16.8)% Adjusted Earnings2 Adjusted EPS2 $7.1 $2.67 $6.9 $2.59 Q1 2022 Q
Slide 8: Consumer Health Highlights – 1st Quarter 2022
Consumer Health Highlights – 1st Quarter 2022 Solid adjusted operational growth2 driven by OTC Reported3: WW (1.5)%, U.S. (3.4)%, Int’l 0.0% Key Drivers of Operational Performance1,3 Operational1,3: WW 0.8%, U.S. (3.4)%, Int’l 4.1% • Growth driven by increased U.S. and ASPAC adult and pediatric feve
Slide 9: Pharmaceutical Highlights – 1st Quarter 2022
Pharmaceutical Highlights – 1st Quarter 2022 Continued above-market performance driven by Oncology, Immunology, and Neuroscience Reported3: WW 6.3%, U.S. 2.9%, Int’l 10.3% Key Drivers of Operational Performance1,3 • Growth driven by continued strong uptake of STELARA in Crohn’s Disease and Operation
Slide 10: MedTech Highlights – 1st Quarter 2022
MedTech Highlights – 1st Quarter 2022 Growth driven by COVID-19 market recovery, driving market expansion, and innovation Key Drivers of Operational Performance1 Reported: WW 5.9%, U.S. 5.6%, Int’l 6.3% Interventional • Market recovery, success of new products (VIZIGO, CARTO and SMARTTOUCH) and comm
Slide 11: Condensed Consolidated Statement of Earnings
Condensed Consolidated Statement of Earnings 1st Quarter 2022 2022 2021 % (Unaudited; Dollar and Shares in Millions Except Per Share Figures) Increase Amount % to Sales Amount % to Sales (Decrease) Sales to customers $23,426 100.0 $22,321 100.0 5.0 Cost of products sold 7,598 32.4 7,063 31.7 7.6 Gro
Slide 12: Adjusted Income Before Tax by Segment
Adjusted Income Before Tax by Segment1 1st Quarter 2022 % to Sales 1Q 2022 1Q 2021 $8.2B $8.3B Pharmaceutical3 44.1% 45.5% MedTech 27.0% 30.6% $5.6 $5.5 Consumer Health3 22.1% 26.8% Total 35.1% 37.1% Pharmaceutical $1.9 $2.0 MedTech Consumer Health $0.8 $1.0 ($0.1) ($0.2) 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 2022
st Notable Announcements in 1 Quarter 20221 Pharmaceutical • Regulatory Decisions: – U.S. FDA Approves CARVYKTI (ciltacabtagene autoleucel), Janssen’s First Cell Therapy, a BCMA-Directed CAR-T Immunotherapy for the Treatment of Patients with Relapsed or Refractory Multiple Myeloma – U.S. FDA Approve
Slide 15: Capital Allocation Strategy
Capital Allocation Strategy Dollars in Billions Q1 2022 Cash and Marketable Capital Allocation $30 Securities HIGHER PRIORITY Debt ($33) Organic growth business needs Net Debt ($3) Free cash flow1 Free Cash Flow1,2 ~$3.4 Note: values may have been rounded Q1 2022: Competitive dividends Investment in
Slide 16: 2022 P&L Guidance
2022 P&L Guidance Company maintains Adjusted Operational EPS; suspends guidance for COVID-19 Vaccine sales April January Comments Adjusted Operational Sales1,2,6 6.5% - 7.5% 6.5% - 7.5% Maintain $97.3B - $98.3B $97.3B - $98.3B Operational Sales2,6 6.5% - 7.5% 6.5% - 7.5% Maintain $94.8B - $95.8B $95
Slide 17: 2022 Sales Considerations
2022 Sales Considerations Excludes COVID-19 Vaccine sales April January Adjusted Operational Sales1,2,4 6.5% - 7.5% 6.5% - 7.5% $97.3B - $98.3B $97.3B - $98.3B Operational Sales2,4 6.5% - 7.5% 6.5% - 7.5% $94.8B - $95.8B $95.9B - $96.9B Estimated Reported Sales3,4 3.8% - 4.8% 5.0% - 6.0% Phasing Con
Slide 18: Q&A
Q&A Ashley McEvoy Thibaut Mongon Jennifer Taubert Joseph J. Wolk Executive Vice President Executive Vice President Executive Vice President Executive Vice President, Worldwide Chairman, Worldwide Chairman, Worldwide Chairman, Chief Financial Officer MedTech Consumer Health Pharmaceuticals
Slide 19: Goluenatohweon
Goluenatohweon