Johnson & Johnson (NYSE: JNJ) shares have weakened from their recent highs above $180, and the current share price stands at $161. Johnson & Johnson is scheduled to announce third-quarter earnings results on Tuesday, October 19th, before the market opens, and according to estimates, the company should post strong earnings results.
Johnson & Johnson continues to move in the right direction
Johnson & Johnson will announce third-quarter earnings results on Tuesday, and it is important to say that the consensus EPS estimate stands at $2.38. The company’s stability in a variety of market conditions has revealed its true staying power, while multiple fast-growing drugs in Johnson & Johnson’s portfolio should continue to drive revenue growth.
Johnson & Johnson has proven improvements throughout the second quarter of 2021; total revenue has increased by 27.1% Y/Y to $23.31 billion, while the GAAP EPS was $2.35. Johnson & Johnson reported that the company’s single-shot COVID-19 vaccine generated $164 million in sales during the second quarter, but COVID-19 vaccine revenue should grow in the third quarter.
According to the latest news, FDA has unanimously voted to endorse the COVID-19 booster shot developed by Johnson & Johnson. The company’s management reported:
FDA’s Vaccines and Related Biological Products Advisory Committee (VRBPAC) has voted 19–0 to recommend the vector-based shot for people aged 18 years and older at least two months from the initial dose. An FDA decision is likely to benefit more than 15 million U.S. adults who have already received Johnson & Johnson initial vaccine dose.
Joseph Wolk, Executive Vice President, and Chief Financial Officer, said that Johnson & Johnson should have further growth and value creation not just in 2021, but more importantly, for 2022 and beyond.
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