JNJ reports Q3 adjusted EPS $2.80; plans to spin off Orthopaedics as DePuy Synthes

JOHNSON & JOHNSON

Q3 revenue $23,993M (+6.8% YoY); GAAP EPS $2.12, adjusted EPS $2.80 (+15.7% YoY).
Innovative Medicine sales $15,563M (+6.8% operational); MedTech sales $8,430M (+6.8% operational).
Intends to separate Orthopaedics business into standalone DePuy Synthes; FY2024 ortho sales ~$9.2B.
Target completion in 18-24 months; Namal Nawana appointed Worldwide President of DePuy Synthes.
Separation aims to shift MedTech portfolio to higher-growth/margin markets; JNJ retains focus on six growth areas.

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