Johnson & Johnson Reports 2020 Second-Quarter Results

– Sales of $18.3 billion reflecting a decline of 10.8%, operational decline of 9.0% and adjusted operational decline of 8.8%, primarily driven by the negative impact of the COVID-19 pandemic

– EPS of $1.36 decreased 34.6%; adjusted EPS of $1.67 decreased 35.3%; 2019 included gain from sale of Advanced Sterilization Products (ASP) business

– Company increasing Full Year Sales and EPS guidance

NEW BRUNSWICK, NJ (STL.News) Johnson & Johnson (NYSE: JNJ) today announced results for second-quarter 2020.  “Our second quarter results reflect the impact of COVID-19 and the enduring strength of our Pharmaceutical business, where we saw continued growth even in this environment,” said Alex Gorsky, Chairman and Chief Executive Officer.  “Thanks to the tireless work of our colleagues around the world and our broad range of capabilities, we continue to successfully navigate the external landscape, and we remain focused on advancing the development of a vaccine to help address this pandemic and save lives.”  Mr. Gorsky continued, “We are bringing together our best minds, our global footprint and our sophisticated supply chain technology to deliver on our commitment to provide the vaccine on a not-for-profit basis for emergency pandemic use, globally.  We know the need is urgent, and every day we commit to doing our part to find a solution for the global good.”

NOTE: this is NOTE the complete release.