Johnson and Johnson (J&J) announced on Tuesday that its total sales in the fourth quarter of the year came in at $23.7 billion, down 4.4% compared to the same period in 2021. According to the financial report, the main reason for the negative result was the adverse foreign exchange and smaller COVID-19 vaccine sales. Earnings per share and net earnings fell by 24.9% to $1.33 and 25.7% to $3.5 billion, respectively.
On the other side, full-year sales rose by 1.3% to $94.9 billion, while the company also noted a decrease in earnings per share and net sales. The first one dipped by 13.8% to $6.73, and the second one declined by 14.1% to $17.9 billion. J&J forecasts for 2023 adjusted operating sales growth, excluding the COVID-19 vaccine, of 4.0% and adjusted operating earnings per share of $10.50, reflecting growth of 3.5%.
"Our full year 2022 results reflect the continued strength and stability of our three business segments, despite macroeconomic challenges," said Joaquin Duato, Chairman of the Board and Chief Executive Officer. At 6:36 am ET, the company's shares rose by 0.41% to sell for $169.
