Johnson & Johnson updated on Wednesday its 2023 financial guidance in the wake of the Kenvue Inc. separation that was completed last week. The drug maker now...
Johnson & Johnson JNJ, +0.01% updated on Wednesday its 2023 financial guidance in the wake of the Kenvue Inc.
separation that was completed last week. The drug maker now expects full-year reported sales of $83.2 billion to $84.0 billion, down from previous guidance of $98.8 billion to $99.8 billion. Adjusted earnings per share is now expected to be $10.00 to $10.10, down from a previous estimate of $10.70 to $10.80. The company said it took in $13.2 billion in cash from Kenvue’s initial public offering and debt offering, and maintains a 9.5% stake in Kenvue’s common stock.
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