Johnson & Johnson (JNJ) posts Q1 2026 growth, hikes dividend and boosts full-year outlook
Filing Impact
Filing Sentiment
Form Type
8-K
Rhea-AI Filing Summary
Johnson & Johnson reported strong first-quarter 2026 growth, with reported sales rising 9.9% to $24.1 billion, driven by Innovative Medicine and MedTech. Diluted EPS under GAAP was $2.14, down from $4.54, while adjusted diluted EPS was $2.70, slightly below $2.77 a year earlier.
The company raised its 2026 outlook to estimated reported sales of $100.8 billion and adjusted EPS of $11.55, both implying around 7% growth at the midpoints. The Board also increased the quarterly dividend by 3.1%, from $1.30 to $1.34 per share, for an annual rate of $5.36 and a 64-year streak of consecutive dividend increases.
Positive
- Raised 2026 guidance: Estimated reported sales are now targeted at $100.3–$101.3 billion (midpoint $100.8 billion) with adjusted EPS of $11.45–$11.65 (midpoint $11.55), both implying about 7% growth at the midpoints.
- Strong top-line performance: Q1 2026 reported sales increased 9.9% year over year to $24.1 billion, with Innovative Medicine up 11.2% and MedTech up 7.7%, showing broad-based revenue momentum.
- Dividend increase and durability: The quarterly dividend was raised 3.1% from $1.30 to $1.34 per share, lifting the annual rate to $5.36 and extending the company’s streak to 64 consecutive years of dividend increases.
Negative
- Sharp GAAP earnings decline: Q1 2026 net earnings fell to $5.2 billion from $11.0 billion, a 52.4% drop, and diluted EPS decreased from $4.54 to $2.14, reflecting much lower contributions from special items and other income versus the prior year.
- Lower cash generation: Estimated first-quarter 2026 free cash flow is about $1.5 billion compared with $3.4 billion in the prior-year quarter, indicating weaker cash conversion despite higher sales.
- Pressure in key immunology products: Worldwide STELARA sales declined 59.7% year over year to $656 million, and total immunology segment sales decreased 8.8%, signaling headwinds within an important franchise.
Insights
Solid Q1 growth, higher 2026 guidance and a dividend hike offset headline EPS decline.
Johnson & Johnson delivered Q1 2026 reported sales of $24.1B, up 9.9%, led by Innovative Medicine (up 11.2%) and MedTech (up 7.7%). Adjusted diluted EPS was $2.70, only 2.5% below last year, indicating underlying earnings are relatively stable.
GAAP net earnings fell sharply to $5.2B from $11.0B, reflecting a much smaller contribution from items such as litigation-related amounts and other income versus 2025, as shown in the reconciliations. Free cash flow is estimated at about $1.5B versus $3.4B a year ago.
The company raised full‑year 2026 guidance, targeting estimated reported sales of around $100.8B and adjusted EPS of about $11.55 at the midpoints. A 3.1% dividend increase to $1.34 per quarter, the 64th consecutive annual raise, underlines confidence in long‑term cash generation, while numerous recent product approvals and designations support the growth narrative described for periods including Q1 2026.
8-K Event Classification
3 items: 2.02, 8.01, 9.01
3 items
Item 2.02
Results of Operations and Financial Condition
Financial
Disclosure of earnings results, typically an earnings press release or preliminary financials.
Item 8.01
Other Events
Other
Voluntary disclosure of events the company deems important to shareholders but not covered by other items.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Key Figures
Q1 2026 reported sales: $24,062 million
Q1 2026 GAAP diluted EPS: $2.14 per share
Q1 2026 adjusted diluted EPS: $2.70 per share
+5 more
8 metrics
Q1 2026 reported sales
$24,062 million
First quarter 2026 vs $21,893 million in 2025, up 9.9%
Q1 2026 GAAP diluted EPS
$2.14 per share
Down from $4.54 per share in first quarter 2025
Q1 2026 adjusted diluted EPS
$2.70 per share
Compared with $2.77 per share in first quarter 2025
2026 estimated reported sales midpoint
$100.8 billion
Guidance range $100.3–$101.3 billion, 7.0% growth at midpoint
2026 adjusted EPS guidance midpoint
$11.55 per share
Guidance range $11.45–$11.65, 7.1% growth at midpoint
Quarterly dividend
$1.34 per share
Increased 3.1% from $1.30, annual rate $5.36 per share
Q1 2026 net earnings
$5,235 million
Down from $10,999 million in first quarter 2025, a 52.4% decline
Q1 2026 free cash flow
~$1,500 million
Estimated as of April 14, 2026 vs $3,379 million in Q1 2025
Key Terms
adjusted operational sales growth, non-GAAP financial measure, free cash flow, effective tax rate, +2 more
6 terms
adjusted operational sales growth financial
"“Adjusted operational sales growth” excluding the net impact of acquisitions and divestitures and translational currency"
non-GAAP financial measure financial
"are non-GAAP financial measures and should not be considered replacements for, and should be read together with, the most comparable GAAP financial measures"
A non-GAAP financial measure is a way companies present their financial results that excludes certain expenses or income to show how they believe their core business is performing. It matters because it can give a clearer picture of how the company is really doing, but it can also be used to make results look better than they actually are.
free cash flow financial
"Free Cash Flow 5,6 | | ~$1,500 | | $3,379 |"
Free cash flow is the amount of money a company has left over after paying all its expenses and investing in its business, like buying equipment or updating facilities. It shows how much cash is available to reward shareholders, pay down debt, or save for future growth. This helps investors understand if a company is financially healthy and able to grow.
effective tax rate financial
"Effective tax rate | 12.6 | % | | 19.3 | % |"
The effective tax rate is the percentage of a company's profits that it pays in taxes. It shows how much of its earnings go to taxes after all deductions and credits are considered. For investors, it indicates how much of the company's income is taken by taxes, impacting overall profitability and financial health.
forward-looking statements regulatory
"This press release contains “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995"
Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of The
Securities Exchange Act of 1934
Date of report (Date of earliest event reported):
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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) | |||||
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) | |||||
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) | |||||
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) | |||||
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company | |||||||||||
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
SECURITIES REGISTERED PURSUANT TO SECTION 12(b) OF THE ACT
Title of each class | Trading Symbol(s) | Name of each exchange on which registered | ||||||
Item 2.02 Results of operations and financial condition
On April 14, 2026, Johnson & Johnson issued the attached press release (Exhibit 99.1) announcing its sales and earnings for the first quarter ended March 29, 2026.
Item 8.01 Other Events
On April 14, 2026, Johnson & Johnson issued the attached press release (Exhibit 99.3) announcing that its Board of Directors declared a 3.1% increase in the quarterly dividend, from $1.30 per share to $1.34 per share, marking the 64th year of consecutive increases. At the new rate, the indicated dividend on an annual basis is $5.36 per share compared to the previous rate of $5.20 per share. The next quarterly dividend is payable on June 9, 2026 to shareholders of record at the close of business on May 26, 2026. The ex-dividend date is May 26, 2026.
Item 9.01 Financial statements and exhibits
(d) Exhibits.
| Exhibit No. | Description of Exhibit | |||||||
99.1 | Press Release dated April 14, 2026 for the period ended March 29, 2026 | |||||||
99.2 | Unaudited Comparative Supplementary Sales Data and Condensed Consolidated Statement of Earnings for the fiscal first quarter | |||||||
99.3 | Press Release dated April 14, 2026 | |||||||
104 | The cover page from this Current Report on Form 8-K, formatted in Inline XBRL. | |||||||
Signatures
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date: April 14, 2026
| JOHNSON & JOHNSON | |||||
(Registrant) | |||||
By: | /s/ Robert J. Decker, Jr. | ||||
Robert J. Decker, Jr. Controller (Principal Accounting Officer) | |||||
Exhibit 99.1
Media contact: media-relations@its.jnj.com | Investor contact: investor-relations@its.jnj.com | |||||||
For immediate release
Johnson & Johnson reports Q1 2026 results, raises 2026 outlook
•2026 First-Quarter reported sales growth of 9.9% to $24.1 Billion with operational growth of 6.4%* and adjusted operational growth of 5.3%*
•2026 First-Quarter earnings per share (EPS) of $2.14 and adjusted EPS of $2.70
•Company increases 2026 guidance with estimated reported sales of $100.8 Billion or 7.0% at the midpoint, and adjusted EPS4 of $11.55 or 7.1% at the midpoint
•Solidifying path to double-digit growth by the end of the decade, with significant progress for patients with the approvals of ICOTYDE the first-and-only targeted oral peptide for plaque psoriasis, TECVAYLI plus DARZALEX FASPRO as early as second line for patients with relapsed/refractory multiple myeloma, VARIPULSE Pro in Europe with a new pulse sequence that is now 5 times faster, and TECNIS PureSee Intraocular Lens for U.S. Cataract Patients
•Company announces planned Enterprise Business Review for December 8, 2026
New Brunswick, N.J. (April 14, 2026) – Johnson & Johnson (NYSE: JNJ) today announced results for first-quarter 2026. “Johnson & Johnson had a strong start to 2026 and is delivering on its promise for a year of accelerated growth and impact,” said Joaquin Duato, Chairman and Chief Executive Officer, Johnson & Johnson. “The depth and strength of our portfolio and pipeline is unrivaled and our relentless focus on innovation delivered multiple game-changing approvals this quarter, including ICOTYDE in the U.S. for moderate to severe plaque psoriasis and VARIPULSE Pro in Europe. These advancements have the potential to transform patient outcomes and create sustainable, long-term value for shareholders.”
Overall financial results
Q1 | ||||||||||||||||||||
($ in Millions, except EPS) | 2026 | 2025 | % Change | |||||||||||||||||
Reported Sales | $24,062 | $21,893 | 9.9% | |||||||||||||||||
Net Earnings | $5,235 | $10,999 | -52.4% | |||||||||||||||||
EPS (diluted) | $2.14 | $4.54 | -52.9% | |||||||||||||||||
Q1 | ||||||||||||||||||||
Non-GAAP* ($ in Millions, except EPS) | 2026 | 2025 | % Change | |||||||||||||||||
Operational Sales1,2 | 6.4% | |||||||||||||||||||
Adjusted Operational Sales1,3 | 5.3% | |||||||||||||||||||
Adjusted Net Earnings1,4 | $6,614 | $6,706 | -1.4% | |||||||||||||||||
Adjusted EPS (diluted)1,4 | $2.70 | $2.77 | -2.5% | |||||||||||||||||
Free Cash Flow5,6 | ~$1,500 | $3,379 | ||||||||||||||||||
1Non-GAAP financial measure; refer to reconciliations of non-GAAP financial measures included in accompanying schedules
2Excludes the impact of translational currency
3Excludes the net impact of acquisitions and divestitures and translational currency
4Excludes intangible amortization expense and special items
5Non-GAAP measure; defined as cash flow from operating activities, less additions to property, plant and equipment. Cash flow from operations, the most directly comparable GAAP financial measure, will be included in subsequent SEC filings.
6First-quarter 2026 is estimated as of April 14, 2026
Note: values may have been rounded
Regional sales results
Q1 | % Change | |||||||||||||||||||
($ in Millions) | 2026 | 2025 | Reported | Operational1,2 | Currency | Adjusted Operational1,3 | ||||||||||||||
U.S. | $13,330 | $12,305 | 8.3% | 8.3 | - | 6.2 | ||||||||||||||
International | 10,732 | 9,588 | 11.9 | 3.9 | 8.0 | 4.0 | ||||||||||||||
Worldwide | $24,062 | $21,893 | 9.9% | 6.4 | 3.5 | 5.3 | ||||||||||||||
1Non-GAAP financial measure; refer to reconciliations of non-GAAP financial measures included in accompanying schedules
2Excludes the impact of translational currency
3Excludes the net impact of acquisitions and divestitures and translational currency
Note: values may have been rounded
Segment sales results
Q1 | % Change | |||||||||||||||||||
($ in Millions) | 2026 | 2025 | Reported | Operational1,2 | Currency | Adjusted Operational1,3 | ||||||||||||||
Innovative Medicine | $15,426 | $13,873 | 11.2% | 7.4 | 3.8 | 5.6 | ||||||||||||||
MedTech | 8,636 | 8,020 | 7.7 | 4.6 | 3.1 | 4.7 | ||||||||||||||
Worldwide | $24,062 | $21,893 | 9.9% | 6.4 | 3.5 | 5.3 | ||||||||||||||
1Non-GAAP financial measure; refer to reconciliations of non-GAAP financial measures included in accompanying schedules
2Excludes the impact of translational currency
3Excludes the net impact of acquisitions and divestitures and translational currency
Note: values may have been rounded
First-Quarter 2026 segment commentary:
Operational sales* reflected below excludes the impact of translational currency.
Innovative Medicine
Innovative Medicine worldwide operational sales grew 7.4%*, with net acquisitions and divestitures positively impacting growth by 1.8% primarily due to CAPLYTA. Growth was driven primarily by DARZALEX, CARVYKTI, ERLEADA, and RYBREVANT/LAZCLUZE in Oncology, TREMFYA in Immunology, and SPRAVATO in Neuroscience. Growth was partially offset by an approximate (920) basis points impact from STELARA in Immunology, as well as IMBRUVICA in Oncology.
MedTech
MedTech worldwide operational sales grew 4.6%*, with divestitures negatively impacting growth by 0.1%. Growth was driven primarily by electrophysiology products, Abiomed, and Shockwave in Cardiovascular, as well as trauma in Orthopaedics.
Full-year 2026 guidance:
Johnson & Johnson does not provide GAAP financial measures on a forward-looking basis because the company is unable to predict with reasonable certainty the ultimate outcome of legal proceedings, unusual gains and losses, acquisition-related expenses, and purchase accounting fair value adjustments without unreasonable effort. These items are uncertain, depend on various factors, and could be material to Johnson & Johnson's results computed in accordance with GAAP.
($ in Billions, except EPS) | April 2026 | January 2026 | ||||||
Adjusted Operational Sales1,2 Change vs. Prior Year / Mid-point | 5.6% – 6.6% / 6.1% | 5.4% – 6.4% / 5.9% | ||||||
Operational Sales2 / Mid-point Change vs. Prior Year / Mid-point | $99.7B – $100.7B / $100.2B 5.9% – 6.9% / 6.4% | $99.5B – $100.5B / $100.0B 5.7% – 6.7% / 6.2% | ||||||
Estimated Reported Sales3/ Mid-point Change vs. Prior Year / Mid-point | $100.3B – $101.3B / $100.8B 6.5% – 7.5% / 7.0% | $100.0B – $101.0B / $100.5B 6.2% – 7.2% / 6.7% | ||||||
Adjusted Operational EPS (Diluted)2,4 / Mid-point Change vs. Prior Year / Mid-point | $11.30 – $11.50 / $11.40 4.7% – 6.7% / 5.7% | $11.28 – $11.48 / $11.38 4.5% – 6.5% / 5.5% | ||||||
Adjusted EPS (Diluted)3,4 / Mid-point Change vs. Prior Year / Mid-point | $11.45 – $11.65 / $11.55 6.1% – 8.1% / 7.1% | $11.43 – $11.63 / $11.53 5.9% – 7.9% / 6.9% | ||||||
1Non-GAAP financial measure; excludes the net impact of acquisitions and divestitures
2Non-GAAP financial measure; excludes the impact of translational currency
3Calculated using Euro Average Rate: April 2026 = $1.17 and January 2026 = $1.17 (Illustrative purposes only)
4Non-GAAP financial measure; excludes intangible amortization expense and special items
Note: percentages may have been rounded
Other modeling considerations will be provided on the webcast.
Notable announcements in the quarter:
The information contained in this section should be read together with Johnson & Johnson’s other disclosures filed with the Securities and Exchange Commission, including its Current Reports on Form 8-K, Quarterly Reports on Form 10-Q and Annual Reports on Form 10-K. Copies of these filings are available online at www.sec.gov, www.jnj.com or on request from Johnson & Johnson. The reader is also encouraged to review all other news releases and information available in the Investor Relations section of the company’s website at Investor News, as well as Innovative Medicine Newsroom, MedTech News & Events, and www.factsabouttalc.com.
Regulatory | Johnson & Johnson Announces FDA Approval of TECNIS PureSee Intraocular Lens, a Breakthrough Solution for U.S. Cataract Patients | Press Release | |||||||||
Johnson & Johnson Announces U.S. FDA Approval of TECVAYLI plus DARZALEX FASPRO for Relapsed/Refractory Multiple Myeloma, Offering a Potential New Standard of Care as Early as Second Line | Press Release | ||||||||||
Johnson & Johnson therapy nipocalimab granted U.S. FDA Fast Track designation in systemic lupus erythematosus (SLE) | Press Release | ||||||||||
Johnson & Johnson seeks FDA approval of IMAAVY (nipocalimab-aahu) as the first-ever FDA-approved treatment for warm autoimmune hemolytic anemia (wAIHA) | Press Release | ||||||||||
RYBREVANT FASPRO (amivantamab and hyaluronidase-lpuj) receives U.S. FDA Breakthrough Therapy Designation for patients with advanced head and neck cancer | Press Release | ||||||||||
FDA approves RYBREVANT FASPRO (amivantamab and hyaluronidase-lpuj) as the only EGFR-targeted therapy that can be administered once a month | Press Release | ||||||||||
DARZALEX FASPRO-based quadruplet regimen approved in the U.S. for newly diagnosed patients with multiple myeloma who are transplant ineligible | Press Release | ||||||||||
Data Releases | Johnson & Johnson Highlights Favorable 12-Month Interim Results for the VARIPULSE Platform at EHRA 20261 | Press Release | |||||||||
Johnson & Johnson Showcases New Clinical Data for TECNIS PureSee IOL at ASCRS 2026 Demonstrating Excellent Contrast Sensitivity and Extended Range of Vision1 | Press Release | ||||||||||
STEMI DTU Randomized Control Trial Demonstrates for the First Time that a Combination of Delayed Reperfusion and Left Ventricular Unloading Does Not Increase Myocardial Infarct Size | Press Release | ||||||||||
ICOTYDE (icotrokinra) one-year results confirm lasting skin clearance and favorable safety profile in once‑daily pill for plaque psoriasis | Press Release | ||||||||||
Johnson & Johnson highlights promising first-in-human Erda-iDRS (formerly TAR-210) results in intermediate-risk non-muscle-invasive bladder cancer | Press Release | ||||||||||
Early study results from Johnson & Johnson show promising antitumor activity with combination of pasritamig and docetaxel in advanced prostate cancer | Press Release | ||||||||||
TREMFYA (guselkumab) long-term data show sustained clinical and endoscopic remission in ulcerative colitis through 3 years | Press Release | ||||||||||
RYBREVANT FASPRO (amivantamab and hyaluronidase-lpuj) plus immunotherapy shows strong clinical benefit with 56 percent overall response rate in first-line recurrent or metastatic head and neck cancer | Press Release | ||||||||||
Johnson & Johnson Presents Early Outcomes from the OMNY-AF Pilot Study at 2026 AF Symposium | Press Release | ||||||||||
Real-world head-to-head analysis shows 51% reduction in risk of death for patients with metastatic castration-sensitive prostate cancer treated with ERLEADA (apalutamide) versus darolutamide without docetaxel through 24 months | Press Release | ||||||||||
Product Launch | Johnson & Johnson Advances Pulsed Field Ablation Portfolio with the Launch of VARIPULSE Pro in Europe1 | Press Release | |||||||||
FDA approval of ICOTYDE (icotrokinra) ushers in new era for first-line systemic treatment of plaque psoriasis with a targeted oral peptide | Press Release | ||||||||||
Other | Johnson & Johnson Expands U.S. Footprint with more than $1 Billion Investment in Next Generation Cell Therapy Manufacturing Facility in Pennsylvania | Press Release | |||||||||
1Subsequent to the quarter
Webcast information:
Johnson & Johnson will conduct a conference call with investors to discuss this earnings release today at 8:30 a.m., Eastern Time. A simultaneous webcast of the call for investors and other interested parties may be accessed by visiting the Johnson & Johnson website. A replay and podcast will be available approximately two hours after the live webcast in the Investor Relations section of the company's website at events-and-presentations.
About Johnson & Johnson:
At Johnson & Johnson, we believe health is everything. Our strength in healthcare innovation empowers us to build a world where complex diseases are prevented, treated, and cured, where treatments are smarter and less invasive, and solutions are personal. Through our expertise in Innovative Medicine and MedTech, we are uniquely positioned to innovate across the full spectrum of healthcare solutions today to deliver the breakthroughs of tomorrow, and profoundly impact health for humanity. Learn more at www.jnj.com.
Non-GAAP financial measures:
* “Operational sales growth” excluding the impact of translational currency, “adjusted operational sales growth” excluding the net impact of acquisitions and divestitures and translational currency, as well as “adjusted net earnings”, “adjusted diluted earnings per share” and “adjusted operational diluted earnings per share” excluding after-tax intangible amortization expense and special items, are non-GAAP financial measures and should not be considered replacements for, and should be read together with, the most comparable GAAP financial measures. Except for guidance measures, reconciliations of these non-GAAP financial measures to the most directly comparable GAAP financial measures can be found in the accompanying financial schedules of the earnings release and the Investor Relations section of the company's website at quarterly results.
Copies of the financial schedules accompanying this earnings release are available on the company’s website at quarterly results. These schedules include supplementary sales data, a condensed consolidated statement of earnings, reconciliations of non-GAAP financial measures, and sales of key products/franchises. Additional information on Johnson & Johnson, including adjusted income before tax by segment, an Innovative Medicine pipeline of selected compounds in late stage development and a copy of today’s earnings call presentation can also be found in the Investor Relations section of the company's website at quarterly results.
Note to investors concerning forward-looking statements:
This press release 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 strategy. The reader is cautioned not to rely on these forward-looking statements. These statements are based on current expectations of future events. If underlying assumptions prove inaccurate or known or unknown risks or uncertainties materialize, actual results could vary materially from the expectations and projections of Johnson & Johnson. Risks and uncertainties include, but are not limited to: economic factors, such as interest rate and currency exchange rate fluctuations or changes to applicable laws and regulations; competition, including technological advances, new products and patents attained by competitors; challenges inherent in new product research and development, including uncertainty of clinical success and obtaining regulatory approvals; uncertainty of commercial success for new and existing products; challenges to patents; the impact of patent expirations; the ability of the Company to successfully execute strategic plans, including restructuring plans; the impact of business combinations and divestitures; manufacturing difficulties or delays, internally or within the supply chain; product efficacy or safety concerns resulting in product recalls or regulatory action; significant adverse litigation or government action, including related to product liability claims; changes to applicable laws and regulations, including tax laws and global health care reforms; trends toward health care cost containment; changes in behavior and spending patterns of purchasers of health care products and services; financial instability of international economies and legal systems and sovereign risk; increased scrutiny of the health care industry by government agencies; and the Company's ability to successfully separate the Company's Orthopaedics business and realize the anticipated benefits from the planned separation. A further list and descriptions of these risks, uncertainties and other factors can be found in Johnson & Johnson’s most recent Annual Report on Form 10-K, including in the sections captioned “Cautionary Note Regarding Forward-Looking Statements” and “Item 1A. Risk Factors,” and in Johnson & Johnson’s subsequent Quarterly Reports on Form 10-Q and other filings with the Securities and Exchange Commission. Copies of these filings are available online at www.sec.gov, www.jnj.com, investor.jnj.com, or on request from Johnson & Johnson. Any forward-looking statement made in this release speaks only as of the date of this release. Johnson & Johnson does not undertake to update any forward-looking statement as a result of new information or future events or developments.
Exhibit 99.2
Johnson & Johnson and subsidiaries
Supplementary sales data
| (Unaudited; Dollars in Millions) | FIRST QUARTER | ||||||||||||||||
| Percent Change | |||||||||||||||||
| Sales to customers by geographic area | 2026 | 2025 | Total | Operations | Currency | ||||||||||||
U.S. | $13,330 | 12,305 | 8.3 | % | 8.3 | — | |||||||||||
Europe | 5,848 | 5,110 | 14.5 | 2.7 | 11.8 | ||||||||||||
Western Hemisphere excluding U.S. | 1,293 | 1,167 | 10.8 | 2.5 | 8.3 | ||||||||||||
Asia-Pacific, Africa | 3,591 | 3,311 | 8.5 | 6.1 | 2.4 | ||||||||||||
International | 10,732 | 9,588 | 11.9 | 3.9 | 8.0 | ||||||||||||
Worldwide | $24,062 | 21,893 | 9.9 | % | 6.4 | 3.5 | |||||||||||
Johnson & Johnson and subsidiaries
Supplementary sales data
| (Unaudited; Dollars in Millions) | FIRST QUARTER | |||||||||||||||||||
| Percent Change | ||||||||||||||||||||
| Sales to customers by segment of business | 2026 | 2025 | Total | Operations | Currency | |||||||||||||||
Innovative Medicine | ||||||||||||||||||||
U.S. | $ | 8,871 | 8,092 | 9.6 | % | 9.6 | — | |||||||||||||
International | 6,555 | 5,781 | 13.4 | 4.3 | 9.1 | |||||||||||||||
| 15,426 | 13,873 | 11.2 | 7.4 | 3.8 | ||||||||||||||||
MedTech | ||||||||||||||||||||
U.S. | 4,459 | 4,213 | 5.9 | 5.9 | — | |||||||||||||||
International | 4,177 | 3,807 | 9.7 | 3.2 | 6.5 | |||||||||||||||
| 8,636 | 8,020 | 7.7 | 4.6 | 3.1 | ||||||||||||||||
U.S. | 13,330 | 12,305 | 8.3 | 8.3 | — | |||||||||||||||
International | 10,732 | 9,588 | 11.9 | 3.9 | 8.0 | |||||||||||||||
Worldwide | $ | 24,062 | 21,893 | 9.9 | % | 6.4 | 3.5 | |||||||||||||
Note: Percentages have been calculated using actual, non-rounded figures and, therefore, may not recalculate precisely.
Johnson & Johnson and subsidiaries
Condensed consolidated statement of earnings
| (Unaudited; in Millions Except Per Share Figures) | FIRST QUARTER | ||||||||||||||||
| 2026 | 2025 | Percent Increase (Decrease) | |||||||||||||||
| Amount | Percent to Sales | Amount | Percent to Sales | ||||||||||||||
| Sales to customers | $ | 24,062 | 100.0 | $ | 21,893 | 100.0 | 9.9 | ||||||||||
| Cost of products sold | 8,106 | 33.7 | 7,357 | 33.6 | 10.2 | ||||||||||||
| Gross Profit | 15,956 | 66.3 | 14,536 | 66.4 | 9.8 | ||||||||||||
| Selling, marketing and administrative expenses | 6,034 | 25.1 | 5,112 | 23.3 | 18.0 | ||||||||||||
| Research and development expense | 3,527 | 14.7 | 3,225 | 14.7 | 9.4 | ||||||||||||
| In-process research and development impairments | 36 | 0.1 | — | — | |||||||||||||
| Interest (income) expense, net | 43 | 0.2 | (128) | (0.6) | |||||||||||||
| Other (income) expense, net | 294 | 1.2 | (7,321) | (33.4) | |||||||||||||
| Restructuring | 32 | 0.1 | 17 | 0.1 | |||||||||||||
| Earnings before provision for taxes on income | 5,990 | 24.9 | 13,631 | 62.3 | (56.1) | ||||||||||||
| Provision for taxes on income | 755 | 3.1 | 2,632 | 12.1 | (71.3) | ||||||||||||
| Net earnings | $ | 5,235 | 21.8 | $ | 10,999 | 50.2 | (52.4) | ||||||||||
| Net earnings per share (Diluted) | $ | 2.14 | $ | 4.54 | (52.9) | ||||||||||||
| Average shares outstanding (Diluted) | 2,445.2 | 2,423.8 | |||||||||||||||
| Effective tax rate | 12.6 | % | 19.3 | % | |||||||||||||
Adjusted earnings before provision for taxes and net earnings (1) (A) | |||||||||||||||||
Earnings before provision for taxes on income | $ | 7,821 | 32.5 | $ | 8,011 | 36.6 | (2.4) | ||||||||||
Net earnings | $ | 6,614 | 27.5 | $ | 6,706 | 30.6 | (1.4) | ||||||||||
Net earnings per share (Diluted) | $ | 2.70 | $ | 2.77 | (2.5) | ||||||||||||
Effective tax rate | 15.4 | % | 16.3 | % | |||||||||||||
(1) See Reconciliation of Non-GAAP Financial Measures.
(A) NON-GAAP FINANCIAL MEASURES "Adjusted earnings before provision for taxes on income," "adjusted net earnings," "adjusted net earnings per share (diluted)," and "adjusted effective tax rate" are non-GAAP financial measures and should not be considered replacements for GAAP results. The Company provides earnings before provision for taxes on income, net earnings, net earnings per share (diluted), and effective tax rate on an adjusted basis because management believes that these measures provide useful information to investors. Among other things, these measures may assist investors in evaluating the Company's results of operations period over period. In various periods, these measures may exclude such items as intangible asset amortization expense, significant gains from divestitures, the effects of an acquisition, restructuring, litigation, and changes in applicable laws and regulations (including significant accounting or tax matters). Special items may be highly variable, difficult to predict, and of a size that sometimes has substantial impact on the Company's reported results of operations for a period. Management uses these measures internally for planning, forecasting and evaluating the performances of the Company's businesses, including allocating resources and evaluating results relative to employee performance compensation targets. Unlike earnings before provision for taxes on income, net earnings, net earnings per share (diluted), and effective tax rate prepared in accordance with GAAP, adjusted earnings before provision for taxes on income, adjusted net earnings, adjusted net earnings per share (diluted), and adjusted effective tax rate may not be comparable with the calculation of similar measures for other companies. The limitations of using these non-GAAP financial measures as performance measures are that they provide a view of the Company's results of operations without including all events during a period, such as intangible asset amortization expense, significant gains from divestitures, the effects of an acquisition, restructuring, litigation, and changes in applicable laws and regulations (including significant accounting or tax matters) and do not provide a comparable view of the Company's performance to other companies in the health care industry. Investors should consider non-GAAP financial measures in addition to, and not as replacements for, or superior to, measures of financial performance prepared in accordance with GAAP.
Johnson & Johnson and subsidiaries
Reconciliation of non-GAAP financial measures
| First Quarter | ||||||||||||||
| (Dollars in Millions Except Per Share Data) | 2026 | 2025 | ||||||||||||
| Net Earnings, after tax- as reported | $5,235 | $10,999 | ||||||||||||
| Pre-tax Adjustments | ||||||||||||||
| Intangible Asset Amortization expense | 1,247 | 1,120 | ||||||||||||
| Litigation related | 330 | (6,966) | ||||||||||||
| Orthopaedics Separation related | 119 | — | ||||||||||||
| Acquisition, integration and divestiture related | 96 | 132 | ||||||||||||
Restructuring related 1 | 62 | 55 | ||||||||||||
| IPR&D impairments | 36 | — | ||||||||||||
| (Gains)/losses on securities | (59) | 39 | ||||||||||||
| Tax Adjustments | ||||||||||||||
Tax impact on special item adjustments 2 | (424) | 1,315 | ||||||||||||
| Tax legislation and other tax related | (28) | 12 | ||||||||||||
| Adjusted Net Earnings, after tax | $6,614 | $6,706 | ||||||||||||
| Average shares outstanding (Diluted) | 2,445.2 | 2,423.8 | ||||||||||||
| Adjusted net earnings per share (Diluted) | $2.70 | $2.77 | ||||||||||||
| Operational adjusted net earnings per share (Diluted) | $2.57 | |||||||||||||
Notes:
1In fiscal 2023, the company initiated a restructuring program of its Orthopaedics franchise within the MedTech segment to streamline operations by exiting certain markets, product lines and distribution network arrangements. The restructuring expense of $7 million in the fiscal first quarter of 2026 and $55 million in the fiscal first quarter of 2025 primarily includes costs related to market and product exits. This program was substantially completed in Q4 2025.
In fiscal 2025, the company initiated a restructuring program of its Surgery franchise within the MedTech segment to simplify and focus operations by exiting certain non-strategic product lines and optimize select sites across the network. The restructuring expense of $55 million in the fiscal first quarter of 2026 primarily includes costs related to product exits. This program is expected to be substantially completed by the end of fiscal year 2026.
2The tax impact related to special item adjustments reflects the current and deferred income taxes associated with the above pre-tax special items in arriving at adjusted earnings.
Johnson & Johnson and subsidiaries
Reconciliation of non-GAAP financial measures
Adjusted operational sales growth(A)
First quarter 2026 actual vs. 2025 actual
| Segments | ||||||||||||||||||||
| Innovative Medicine | MedTech | Total | ||||||||||||||||||
| WW As Reported | 11.2 | % | 7.7 | % | 9.9 | % | ||||||||||||||
| U.S. | 9.6 | % | 5.9 | % | 8.3 | % | ||||||||||||||
| International | 13.4 | % | 9.7 | % | 11.9 | % | ||||||||||||||
| WW Currency | 3.8 | 3.1 | 3.5 | |||||||||||||||||
| U.S. | — | — | — | |||||||||||||||||
| International | 9.1 | 6.5 | 8.0 | |||||||||||||||||
| WW Operational | 7.4 | % | 4.6 | % | 6.4 | % | ||||||||||||||
| U.S. | 9.6 | % | 5.9 | % | 8.3 | % | ||||||||||||||
| International | 4.3 | % | 3.2 | % | 3.9 | % | ||||||||||||||
| Caplyta | (1.9) | (1.2) | ||||||||||||||||||
| U.S. | (3.3) | (2.2) | ||||||||||||||||||
| International | 0.0 | 0.0 | ||||||||||||||||||
| All Other Acquisitions and Divestitures (A&D) | 0.1 | 0.1 | 0.1 | |||||||||||||||||
| U.S. | 0.0 | 0.2 | 0.1 | |||||||||||||||||
| International | 0.2 | 0.0 | 0.1 | |||||||||||||||||
| WW Adjusted Operational Ex A&D | 5.6 | % | 4.7 | % | 5.3 | % | ||||||||||||||
| U.S. | 6.3 | % | 6.1 | % | 6.2 | % | ||||||||||||||
| International | 4.5 | % | 3.2 | % | 4.0 | % | ||||||||||||||
Note: Percentages are based on actual, non-rounded figures and may not sum
(A) NON-GAAP FINANCIAL MEASURE “Adjusted operational sales growth" excludes acquisitions, divestitures and translational currency and is a non-GAAP financial measure. Investors should consider non-GAAP financial measures in addition to, and not as replacements for, or superior to, measures of financial performance prepared in accordance with GAAP. Due to the variable nature of acquisitions and divestitures, and the impact they may have on the analysis of underlying business performance and trends, management believes that providing this measure enhances an investor’s understanding of the Company’s performance and may assist in the evaluation of ongoing business operations period over period. This non-GAAP financial measure is presented to permit investors to more fully understand how management assesses the performance of the Company, including for internal evaluation of the performance of the Company's businesses and planning and forecasting for future periods. The use of this non-GAAP financial measure as a performance measure is limited in that it provides a view of the Company's results of operations without including all events during a period and may not provide a comparable view of the Company's performance to that of other companies in the health care industry.
Johnson & Johnson
Segment sales
(Dollars in Millions)
| FIRST QUARTER | |||||||||||||||||||||||
| % Change | |||||||||||||||||||||||
| 2026 | 2025 | Reported | Operational(1) | Currency | |||||||||||||||||||
INNOVATIVE MEDICINE SEGMENT(2) | |||||||||||||||||||||||
| ONCOLOGY | |||||||||||||||||||||||
| US | $3,615 | 3,013 | 20.0 | % | 20.0 | % | — | % | |||||||||||||||
| Intl | 3,358 | 2,664 | 26.0 | 15.3 | 10.7 | ||||||||||||||||||
| WW | 6,973 | 5,678 | 22.8 | 17.8 | 5.0 | ||||||||||||||||||
| DARZALEX | |||||||||||||||||||||||
| US | 2,208 | 1,829 | 20.7 | 20.7 | — | ||||||||||||||||||
| Intl | 1,756 | 1,409 | 24.7 | 14.0 | 10.7 | ||||||||||||||||||
| WW | 3,964 | 3,237 | 22.5 | 17.8 | 4.7 | ||||||||||||||||||
| CARVYKTI | |||||||||||||||||||||||
| US | 433 | 318 | 36.2 | 36.2 | — | ||||||||||||||||||
| Intl | 164 | 51 | * | * | * | ||||||||||||||||||
| WW | 597 | 369 | 62.1 | 57.4 | 4.7 | ||||||||||||||||||
| TECVAYLI | |||||||||||||||||||||||
| US | 127 | 105 | 20.6 | 20.6 | — | ||||||||||||||||||
| Intl | 74 | 46 | 63.1 | 52.1 | 11.0 | ||||||||||||||||||
| WW | 202 | 151 | 33.5 | 30.1 | 3.4 | ||||||||||||||||||
| TALVEY | |||||||||||||||||||||||
| US | 101 | 68 | 48.5 | 48.5 | — | ||||||||||||||||||
| Intl | 51 | 18 | * | * | * | ||||||||||||||||||
| WW | 152 | 86 | 76.7 | 72.8 | 3.9 | ||||||||||||||||||
| RYBREVANT / LAZCLUZE | |||||||||||||||||||||||
| US | 175 | 113 | 55.1 | 55.1 | — | ||||||||||||||||||
| Intl | 82 | 28 | * | * | * | ||||||||||||||||||
| WW | 257 | 141 | 82.7 | 80.5 | 2.2 | ||||||||||||||||||
| ERLEADA | |||||||||||||||||||||||
| US | 342 | 292 | 17.3 | 17.3 | — | ||||||||||||||||||
| Intl | 607 | 479 | 26.7 | 15.5 | 11.2 | ||||||||||||||||||
| WW | 949 | 771 | 23.1 | 16.2 | 6.9 | ||||||||||||||||||
| IMBRUVICA | |||||||||||||||||||||||
| US | 143 | 235 | (39.1) | (39.1) | — | ||||||||||||||||||
| Intl | 517 | 474 | 9.1 | (1.4) | 10.5 | ||||||||||||||||||
| WW | 660 | 709 | (6.9) | (13.9) | 7.0 | ||||||||||||||||||
OTHER ONCOLOGY(3) | |||||||||||||||||||||||
| US | 85 | 54 | 58.8 | 58.8 | — | ||||||||||||||||||
| Intl | 106 | 160 | (33.9) | (36.3) | 2.4 | ||||||||||||||||||
| WW | 192 | 214 | (10.6) | (12.5) | 1.9 | ||||||||||||||||||
See footnotes at end of schedule | |||||||||||||||||||||||
Johnson & Johnson
Segment sales
(Dollars in Millions)
| FIRST QUARTER | |||||||||||||||||||||||
| % Change | |||||||||||||||||||||||
| 2026 | 2025 | Reported | Operational(1) | Currency | |||||||||||||||||||
INNOVATIVE MEDICINE SEGMENT(2)(Continued) | |||||||||||||||||||||||
| IMMUNOLOGY | |||||||||||||||||||||||
| US | $1,855 | 2,196 | (15.5) | % | (15.5) | % | — | % | |||||||||||||||
| Intl | 1,524 | 1,510 | 0.9 | (6.4) | 7.3 | ||||||||||||||||||
| WW | 3,380 | 3,707 | (8.8) | (11.8) | 3.0 | ||||||||||||||||||
| TREMFYA | |||||||||||||||||||||||
| US | 1,042 | 599 | 73.9 | 73.9 | — | ||||||||||||||||||
| Intl | 566 | 356 | 58.9 | 46.8 | 12.1 | ||||||||||||||||||
| WW | 1,608 | 956 | 68.3 | 63.8 | 4.5 | ||||||||||||||||||
| SIMPONI / SIMPONI ARIA | |||||||||||||||||||||||
| US | 269 | 292 | (7.8) | (7.8) | — | ||||||||||||||||||
| Intl | 378 | 366 | 3.0 | (4.1) | 7.1 | ||||||||||||||||||
| WW | 647 | 659 | (1.7) | (5.7) | 4.0 | ||||||||||||||||||
| REMICADE | |||||||||||||||||||||||
| US | 269 | 314 | (14.4) | (14.4) | — | ||||||||||||||||||
US Exports(4) | 18 | 10 | 78.6 | 78.6 | — | ||||||||||||||||||
| Intl | 136 | 143 | (4.8) | (10.5) | 5.7 | ||||||||||||||||||
| WW | 422 | 467 | (9.5) | (11.2) | 1.7 | ||||||||||||||||||
| STELARA | |||||||||||||||||||||||
| US | 220 | 981 | (77.6) | (77.6) | — | ||||||||||||||||||
| Intl | 435 | 644 | (32.4) | (37.7) | 5.3 | ||||||||||||||||||
| WW | 656 | 1,625 | (59.7) | (61.7) | 2.0 | ||||||||||||||||||
| OTHER IMMUNOLOGY | |||||||||||||||||||||||
| US | 38 | 1 | * | * | — | ||||||||||||||||||
| Intl | 9 | 0 | * | * | * | ||||||||||||||||||
| WW | 46 | 1 | * | * | * | ||||||||||||||||||
| NEUROSCIENCE | |||||||||||||||||||||||
| US | 1,494 | 968 | 54.3 | 54.3 | — | ||||||||||||||||||
| Intl | 681 | 679 | 0.3 | (6.3) | 6.6 | ||||||||||||||||||
| WW | 2,175 | 1,647 | 32.0 | 29.3 | 2.7 | ||||||||||||||||||
| SPRAVATO | |||||||||||||||||||||||
| US | 406 | 276 | 47.0 | 47.0 | — | ||||||||||||||||||
| Intl | 61 | 43 | 42.4 | 28.7 | 13.7 | ||||||||||||||||||
| WW | 468 | 320 | 46.4 | 44.5 | 1.9 | ||||||||||||||||||
CAPLYTA(5) | |||||||||||||||||||||||
| US | 270 | — | * | * | — | ||||||||||||||||||
| Intl | — | — | — | — | — | ||||||||||||||||||
| WW | 270 | — | * | * | — | ||||||||||||||||||
| INVEGA SUSTENNA / XEPLION / INVEGA TRINZA / TREVICTA | |||||||||||||||||||||||
| US | 758 | 625 | 21.2 | 21.2 | — | ||||||||||||||||||
| Intl | 280 | 277 | 1.1 | (4.9) | 6.0 | ||||||||||||||||||
| WW | 1,038 | 903 | 15.0 | 13.2 | 1.8 | ||||||||||||||||||
| CONCERTA / methylphenidate | |||||||||||||||||||||||
| US | 22 | 38 | (43.4) | (43.4) | — | ||||||||||||||||||
| Intl | 115 | 110 | 4.3 | (0.6) | 4.9 | ||||||||||||||||||
| WW | 136 | 148 | (8.0) | (11.7) | 3.7 | ||||||||||||||||||
| OTHER NEUROSCIENCE | |||||||||||||||||||||||
| US | 38 | 28 | 32.6 | 32.6 | — | ||||||||||||||||||
| Intl | 224 | 248 | (9.7) | (16.3) | 6.6 | ||||||||||||||||||
| WW | 262 | 277 | (5.4) | (11.3) | 5.9 | ||||||||||||||||||
See footnotes at end of schedule | |||||||||||||||||||||||
Johnson & Johnson
Segment sales
(Dollars in Millions)
| FIRST QUARTER | |||||||||||||||||||||||
| % Change | |||||||||||||||||||||||
| 2026 | 2025 | Reported | Operational(1) | Currency | |||||||||||||||||||
INNOVATIVE MEDICINE SEGMENT(2)(Continued) | |||||||||||||||||||||||
| PULMONARY HYPERTENSION (PH) | |||||||||||||||||||||||
| US | $831 | 744 | 11.7 | % | 11.7 | % | — | % | |||||||||||||||
| Intl | 304 | 281 | 8.2 | 1.0 | 7.2 | ||||||||||||||||||
| WW | 1,135 | 1,025 | 10.7 | 8.7 | 2.0 | ||||||||||||||||||
| UPTRAVI | |||||||||||||||||||||||
| US | 385 | 365 | 5.4 | 5.4 | — | ||||||||||||||||||
| Intl | 98 | 86 | 14.3 | 5.1 | 9.2 | ||||||||||||||||||
| WW | 483 | 451 | 7.1 | 5.4 | 1.7 | ||||||||||||||||||
| OPSUMIT / OPSYNVI | |||||||||||||||||||||||
| US | 433 | 363 | 19.3 | 19.3 | — | ||||||||||||||||||
| Intl | 172 | 159 | 8.7 | 1.7 | 7.0 | ||||||||||||||||||
| WW | 606 | 522 | 16.1 | 14.0 | 2.1 | ||||||||||||||||||
| OTHER PULMONARY HYPERTENSION | |||||||||||||||||||||||
| US | 12 | 15 | (21.1) | (21.1) | — | ||||||||||||||||||
| Intl | 34 | 37 | (8.3) | (11.8) | 3.5 | ||||||||||||||||||
| WW | 46 | 52 | (12.1) | (14.5) | 2.4 | ||||||||||||||||||
| INFECTIOUS DISEASES (ID) | |||||||||||||||||||||||
| US | 342 | 315 | 8.6 | 8.6 | — | ||||||||||||||||||
| Intl | 547 | 487 | 12.2 | 1.3 | 10.9 | ||||||||||||||||||
| WW | 889 | 802 | 10.8 | 4.1 | 6.7 | ||||||||||||||||||
| EDURANT / rilpivirine | |||||||||||||||||||||||
| US | 7 | 8 | (13.1) | (13.1) | — | ||||||||||||||||||
| Intl | 402 | 350 | 14.8 | 3.2 | 11.6 | ||||||||||||||||||
| WW | 409 | 358 | 14.1 | 2.8 | 11.3 | ||||||||||||||||||
| PREZISTA / PREZCOBIX / REZOLSTA / SYMTUZA | |||||||||||||||||||||||
| US | 334 | 305 | 9.5 | 9.5 | — | ||||||||||||||||||
| Intl | 109 | 98 | 11.2 | 0.7 | 10.5 | ||||||||||||||||||
| WW | 443 | 403 | 10.0 | 7.4 | 2.6 | ||||||||||||||||||
| OTHER INFECTIOUS DISEASES | |||||||||||||||||||||||
| US | 1 | 2 | (56.9) | (56.9) | — | ||||||||||||||||||
| Intl | 36 | 39 | (8.3) | (14.7) | 6.4 | ||||||||||||||||||
| WW | 37 | 41 | (10.4) | (16.5) | 6.1 | ||||||||||||||||||
| CARDIOVASCULAR / METABOLISM / OTHER (CVM) | |||||||||||||||||||||||
| US | 734 | 855 | (14.2) | (14.2) | — | ||||||||||||||||||
| Intl | 142 | 158 | (10.4) | (17.5) | 7.1 | ||||||||||||||||||
| WW | 876 | 1,013 | (13.6) | (14.7) | 1.1 | ||||||||||||||||||
| XARELTO | |||||||||||||||||||||||
| US | 642 | 690 | (7.0) | (7.0) | — | ||||||||||||||||||
| Intl | — | — | — | — | — | ||||||||||||||||||
| WW | 642 | 690 | (7.0) | (7.0) | — | ||||||||||||||||||
| OTHER | |||||||||||||||||||||||
| US | 91 | 165 | (44.5) | (44.5) | — | ||||||||||||||||||
| Intl | 142 | 158 | (10.4) | (17.5) | 7.1 | ||||||||||||||||||
| WW | 233 | 323 | (27.8) | (31.2) | 3.4 | ||||||||||||||||||
See footnotes at end of schedule | |||||||||||||||||||||||
Johnson & Johnson
Segment sales
(Dollars in Millions)
| FIRST QUARTER | |||||||||||||||||||||||
| % Change | |||||||||||||||||||||||
| 2026 | 2025 | Reported | Operational(1) | Currency | |||||||||||||||||||
INNOVATIVE MEDICINE SEGMENT(2)(Continued) | |||||||||||||||||||||||
| TOTAL PH, ID, CVM | |||||||||||||||||||||||
| US | 1,907 | 1,914 | (0.4) | (0.4) | — | ||||||||||||||||||
| Intl | 993 | 926 | 7.1 | (2.0) | 9.1 | ||||||||||||||||||
| WW | 2,899 | 2,840 | 2.1 | (0.9) | 3.0 | ||||||||||||||||||
| TOTAL INNOVATIVE MEDICINE | |||||||||||||||||||||||
| US | 8,871 | 8,092 | 9.6 | 9.6 | — | ||||||||||||||||||
| Intl | 6,555 | 5,781 | 13.4 | 4.3 | 9.1 | ||||||||||||||||||
| WW | $15,426 | 13,873 | 11.2 | % | 7.4 | % | 3.8 | % | |||||||||||||||
See footnotes at end of schedule
Johnson & Johnson
Segment sales
(Dollars in Millions)
| FIRST QUARTER | |||||||||||||||||||||||
| % Change | |||||||||||||||||||||||
| 2026 | 2025 | Reported | Operational(1) | Currency | |||||||||||||||||||
MEDTECH SEGMENT(2) | |||||||||||||||||||||||
| CARDIOVASCULAR | |||||||||||||||||||||||
| US | $1,399 | 1,261 | 10.9 | % | 10.9 | % | — | % | |||||||||||||||
| Intl | 978 | 842 | 16.1 | 9.9 | 6.2 | ||||||||||||||||||
| WW | 2,377 | 2,103 | 13.0 | 10.5 | 2.5 | ||||||||||||||||||
| ELECTROPHYSIOLOGY | |||||||||||||||||||||||
| US | 736 | 684 | 7.6 | 7.6 | — | ||||||||||||||||||
| Intl | 753 | 638 | 18.0 | 11.7 | 6.3 | ||||||||||||||||||
| WW | 1,489 | 1,323 | 12.6 | 9.5 | 3.1 | ||||||||||||||||||
| ABIOMED | |||||||||||||||||||||||
| US | 389 | 339 | 14.5 | 14.5 | — | ||||||||||||||||||
| Intl | 100 | 81 | 23.5 | 13.9 | 9.6 | ||||||||||||||||||
| WW | 488 | 420 | 16.3 | 14.4 | 1.9 | ||||||||||||||||||
| SHOCKWAVE | |||||||||||||||||||||||
| US | 242 | 206 | 17.8 | 17.8 | — | ||||||||||||||||||
| Intl | 63 | 52 | 21.3 | 19.3 | 2.0 | ||||||||||||||||||
| WW | 305 | 258 | 18.5 | 18.1 | 0.4 | ||||||||||||||||||
| OTHER CARDIOVASCULAR | |||||||||||||||||||||||
| US | 32 | 32 | 0.7 | 0.7 | — | ||||||||||||||||||
| Intl | 62 | 72 | (13.4) | (17.5) | 4.1 | ||||||||||||||||||
| WW | 94 | 103 | (9.1) | (11.9) | 2.8 | ||||||||||||||||||
| SURGERY | |||||||||||||||||||||||
| US | 1,046 | 1,002 | 4.4 | 4.4 | — | ||||||||||||||||||
| Intl | 1,465 | 1,394 | 5.1 | (1.1) | 6.2 | ||||||||||||||||||
| WW | 2,511 | 2,396 | 4.8 | 1.2 | 3.6 | ||||||||||||||||||
| ADVANCED | |||||||||||||||||||||||
| US | 477 | 457 | 4.2 | 4.2 | — | ||||||||||||||||||
| Intl | 646 | 616 | 4.9 | (1.0) | 5.9 | ||||||||||||||||||
| WW | 1,123 | 1,073 | 4.6 | 1.2 | 3.4 | ||||||||||||||||||
| GENERAL | |||||||||||||||||||||||
| US | 569 | 544 | 4.5 | 4.5 | — | ||||||||||||||||||
| Intl | 819 | 778 | 5.2 | (1.3) | 6.5 | ||||||||||||||||||
| WW | 1,388 | 1,323 | 4.9 | 1.1 | 3.8 | ||||||||||||||||||
See footnotes at end of schedule
Johnson & Johnson
Segment sales
(Dollars in Millions)
| FIRST QUARTER | |||||||||||||||||||||||
| % Change | |||||||||||||||||||||||
| 2026 | 2025 | Reported | Operational(1) | Currency | |||||||||||||||||||
MEDTECH SEGMENT(2)(Continued) | |||||||||||||||||||||||
| VISION | |||||||||||||||||||||||
| US | $579 | 566 | 2.4 | % | 2.4 | % | — | % | |||||||||||||||
| Intl | 785 | 713 | 10.1 | 4.6 | 5.5 | ||||||||||||||||||
| WW | 1,365 | 1,279 | 6.7 | 3.6 | 3.1 | ||||||||||||||||||
| CONTACT LENSES / OTHER | |||||||||||||||||||||||
| US | 468 | 452 | 3.7 | 3.7 | — | ||||||||||||||||||
| Intl | 501 | 467 | 7.2 | 1.7 | 5.5 | ||||||||||||||||||
| WW | 969 | 919 | 5.5 | 2.7 | 2.8 | ||||||||||||||||||
| SURGICAL | |||||||||||||||||||||||
| US | 111 | 114 | (2.9) | (2.9) | — | ||||||||||||||||||
| Intl | 285 | 246 | 15.6 | 10.1 | 5.5 | ||||||||||||||||||
| WW | 396 | 361 | 9.7 | 6.0 | 3.7 | ||||||||||||||||||
| ORTHOPAEDICS | |||||||||||||||||||||||
| US | 1,435 | 1,384 | 3.7 | 3.7 | — | ||||||||||||||||||
| Intl | 948 | 857 | 10.6 | 2.4 | 8.2 | ||||||||||||||||||
| WW | 2,383 | 2,241 | 6.3 | 3.2 | 3.1 | ||||||||||||||||||
| HIPS | |||||||||||||||||||||||
| US | 277 | 263 | 5.2 | 5.2 | — | ||||||||||||||||||
| Intl | 159 | 146 | 8.9 | 0.3 | 8.6 | ||||||||||||||||||
| WW | 436 | 409 | 6.5 | 3.5 | 3.0 | ||||||||||||||||||
| KNEES | |||||||||||||||||||||||
| US | 239 | 231 | 3.3 | 3.3 | — | ||||||||||||||||||
| Intl | 181 | 158 | 14.6 | 6.5 | 8.1 | ||||||||||||||||||
| WW | 420 | 389 | 7.9 | 4.6 | 3.3 | ||||||||||||||||||
| TRAUMA | |||||||||||||||||||||||
| US | 532 | 502 | 6.1 | 6.1 | — | ||||||||||||||||||
| Intl | 301 | 270 | 11.4 | 3.1 | 8.3 | ||||||||||||||||||
| WW | 833 | 772 | 8.0 | 5.0 | 3.0 | ||||||||||||||||||
| SPINE, SPORTS & OTHER | |||||||||||||||||||||||
| US | 387 | 388 | (0.1) | (0.1) | — | ||||||||||||||||||
| Intl | 307 | 283 | 8.4 | 0.7 | 7.7 | ||||||||||||||||||
| WW | 694 | 671 | 3.5 | 0.2 | 3.3 | ||||||||||||||||||
| TOTAL MEDTECH | |||||||||||||||||||||||
| US | 4,459 | 4,213 | 5.9 | 5.9 | — | ||||||||||||||||||
| Intl | 4,177 | 3,807 | 9.7 | 3.2 | 6.5 | ||||||||||||||||||
| WW | $8,636 | 8,020 | 7.7 | % | 4.6 | % | 3.1 | % | |||||||||||||||
Note: Column and rows within tables may not add due to rounding. Percentages have been calculated using actual, non-rounded figures and, therefore, may not recalculate precisely.
* Percentage greater than 100% or not meaningful
(1)Operational growth excludes the effect of translational currency
(2)Unaudited
(3)Includes the sales of ZYTIGA which were previously disclosed separately
(4)Reported as U.S. sales
(5)Acquired with Intra-Cellular Therapies on April 2, 2025
Exhibit 99.3
Media contact: media-relations@its.jnj.com | Investor contact: investor-relations@its.jnj.com | |||||||
For immediate release
Johnson & Johnson Announces 64th Consecutive Year of Dividend Increase; Raises Quarterly Dividend by 3.1%
New Brunswick, NJ (April 14, 2026) – Johnson & Johnson (NYSE: JNJ) today announced that its Board of Directors has declared a 3.1% increase in the quarterly dividend, from $1.30 per share to $1.34 per share, marking the 64th year of consecutive increases.
At the new rate, the indicated dividend on an annual basis is $5.36 per share compared to the previous rate of $5.20 per share. The next quarterly dividend is payable on June 9, 2026 to shareholders of record at the close of business on May 26, 2026. The ex-dividend date is May 26, 2026.
About Johnson & Johnson
At Johnson & Johnson, we believe health is everything. Our strength in healthcare innovation empowers us to build a world where complex diseases are prevented, treated, and cured, where treatments are smarter and less invasive, and solutions are personal. Through our expertise in Innovative Medicine and MedTech, we are uniquely positioned to innovate across the full spectrum of healthcare solutions today to deliver the breakthroughs of tomorrow, and profoundly impact health for humanity. Learn more at https://www.jnj.com/.
FAQ
How did Johnson & Johnson (JNJ) perform financially in Q1 2026?
Johnson & Johnson reported Q1 2026 sales of $24.1 billion, up 9.9% year over year. GAAP diluted EPS was $2.14, down from $4.54, while adjusted diluted EPS was $2.70, slightly below $2.77 a year earlier.
Did Johnson & Johnson (JNJ) change its 2026 sales and earnings outlook?
Yes. Johnson & Johnson increased 2026 guidance to estimated reported sales of $100.3–$101.3 billion, midpoint $100.8 billion, and adjusted EPS of $11.45–$11.65, midpoint $11.55, both representing about 7% growth at the midpoints versus the prior year.
What dividend did Johnson & Johnson (JNJ) declare in April 2026?
The Board declared a 3.1% increase in the quarterly dividend, raising it from $1.30 to $1.34 per share. This implies an annual rate of $5.36 per share and marks the company’s 64th consecutive year of dividend increases.
When will Johnson & Johnson’s next dividend be paid and who qualifies?
The next quarterly dividend of $1.34 per share is payable on June 9, 2026 to shareholders of record at the close of business on May 26, 2026. The ex‑dividend date is also May 26, 2026.
How did Johnson & Johnson’s Innovative Medicine and MedTech segments perform in Q1 2026?
In Q1 2026, Innovative Medicine sales were $15.4 billion, up 11.2% year over year, while MedTech sales reached $8.6 billion, up 7.7%. Both segments contributed meaningfully to the company’s overall 9.9% reported sales growth.
Why did Johnson & Johnson’s GAAP net earnings decline despite higher sales?
GAAP net earnings dropped from $11.0 billion to $5.2 billion even as sales grew, reflecting a much smaller contribution from items such as litigation-related amounts and other income versus 2025, as detailed in the company’s non‑GAAP reconciliations.