JNJ proposes $6.475B talc settlement plan; Q1 GAAP EPS cut to $1.34

JOHNSON & JOHNSON

Proposed plan pays $6.475B present value ($8.4B nominal over 25 years) to resolve all ovarian cancer cosmetic talc claims.
Incremental $2.7B charge; total talc reserve now ~$11B present value ($13.7B nominal) as of Q1 2024.
Previously reported GAAP net earnings reduced from $5.4B to $3.3B; EPS from $2.20 to $1.34 for Q1 2024.
Q1 2024 adjusted EPS of $2.71 unchanged; sales $21.38B (+2.3% YoY).
No impact to mesothelioma, state consumer claims; plan excludes those categories.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 1.0

JOHNSON & JOHNSON reported first quarter ended March 31, 2024 results: revenue $21,383, net income $3,255, EPS $1.34.

Period: first quarter ended March 31, 2024
Revenue: $21,383
Net income: $3,255
EPS: $1.34
Result: reported results

Exact text from the filing

(Unaudited; in Millions Except Per Share Figures) FIRST QUARTER 2024 2023 Percent Percent Percent Increase 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) Gross Profit 14,872 69.6 14,207 68.0 4.7 Selling, marketing and administrative expenses 5,257 24.6 4,906

View on SEC.gov

1349 earnings releases filed in the last 30 days. Browse all earnings releases →

JOHNSON & JOHNSON filing history →

Source: SEC EDGAR

accession 0000200406-24-000048

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.