Johnson & Johnson (NYSE:JNJ) reported first-quarter results on Tuesday that came in ahead of analyst forecasts, while also upgrading its full-year 2026 guidance.
Adjusted earnings per share were $2.70, exceeding the consensus estimate of $2.68 by $0.02. Revenue totaled $24.1 billion, above expectations of $23.61 billion and up 9.9% from $21.9 billion in the same period last year.
The company increased its full-year outlook, now forecasting adjusted EPS in the range of $11.45 to $11.65, with a midpoint of $11.55 in line with analyst expectations. It also expects reported sales between $100.3 billion and $101.3 billion, with a midpoint of $100.8 billion, slightly ahead of the consensus estimate of $100.65 billion. The revised guidance represents an improvement from the company’s January projections. Shares were down 0.2% following the update.
“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. “The depth and strength of our portfolio and pipeline is unrivaled and our relentless focus on innovation delivered multiple game-changing approvals this quarter.”
The Innovative Medicine division drove performance, with global operational sales rising 7.4%, supported by oncology treatments DARZALEX, CARVYKTI, ERLEADA, and RYBREVANT/LAZCLUZE, as well as TREMFYA in immunology and SPRAVATO in neuroscience. This growth was partly offset by declines in STELARA and IMBRUVICA.
Meanwhile, the MedTech segment recorded operational sales growth of 4.6%, led by strong demand for electrophysiology products, Abiomed and Shockwave in cardiovascular, along with trauma-related products in orthopaedics.
First-quarter free cash flow came in at approximately $1.5 billion, compared with $3.4 billion in the same period a year earlier.