JNJ updates 2023 guidance post-Kenvue separation; raises sales & EPS outlook, cuts share count

JOHNSON & JOHNSON

2023-Q2 EPS reported $1.93 revenue$50,276,000,000

Updated 2023 guidance: Reported Sales Growth 7.0%-8.0%, Adjusted EPS $10.00-$10.10 (12.5% growth at midpoint).
Reduced share count by ~191M shares; partial-year benefit of ~73.5M shares adds $0.28 to EPS.
Received $13.2B cash from Kenvue debt offering and IPO; retains 9.5% equity stake in Kenvue.
Consumer Health now reported as discontinued ops; expects ~$20B gain in Q3 2023.
Maintains quarterly dividend of $1.19/share; H1 2023 continuing ops sales $42.4B (+5.9% total).

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

JOHNSON & JOHNSON updated its guidance (raised).

Guidance: raised
Result: guidance update

Exact text from the filing

Johnson & Johnson completed an exchange offer to finalize the separation of Kenvue Inc. (the "Kenvue Separation"). On August 30, 2023, Johnson & Johnson issued the attached press release (Exhibit 99.1) providing updated financials and 2023 guidance following completion of the Kenvue Separation.

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Source: SEC EDGAR

accession 0000200406-23-000091

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