2022 Fourth-Quarter reported sales decline of 4.4% to $23.7 Billion primarily driven by unfavorable foreign exchange and reduced COVID-19 Vaccine sales vs. prior year. Operational growth excluding COVID-19 Vaccine of 4.6%*
2022 Fourth-Quarter earnings per share (EPS) of $1.33 decreasing 24.9% and adjusted EPS of $2.35 increasing by 10.3%*
2022 Full-Year reported sales growth of 1.3% to $94.9 Billion primarily driven by strong commercial execution partially offset by unfavorable foreign exchange. Operational growth of 6.1%*
2022 Full-Year earnings per share (EPS) of $6.73 decreasing 13.8% and adjusted EPS of $10.15 increasing by 3.6%*
Company guides 2023 adjusted operational sales growth excluding COVID-19 Vaccine of 4.0%* and adjusted operational EPS of $10.50, reflecting growth of 3.5%*
NEW BRUNSWICK, N.J. – Johnson & Johnson (NYSE: JNJ) today announced results for fourth-quarter and full year 2022. “Our full year 2022 results reflect the continued strength and stability of our three business segments, despite macroeconomic challenges,” said Joaquin Duato, Chairman of the Board and Chief Executive Officer. “I am inspired by our employees who make a difference in the health and lives of people around the world every day. As we look ahead to 2023, Johnson & Johnson is well-positioned to drive near-term growth, while also investing strategically to deliver long-term value.”
OVERALL FINANCIAL RESULTS
| Q4 | Full Year | |||||
| ($ in Millions, except EPS) | 2022 | 2021 | % Change | 2022 | 2021 | % Change |
| Reported Sales | $23,706 | $24,804 | (4.4)% | $94,943 | $93,775 | 1.3% |
| Net Earnings | $3,520 | $4,736 | (25.7)% | $17,941 | $20,878 | (14.1)% |
| EPS (diluted) | $1.33 | $1.77 | (24.9)% | $6.73 | $7.81 | (13.8)% |
| Q4 | Full Year | |||||
| Non-GAAP* ($ in Millions, except EPS) | 2022 | 2021 | % Change | 2022 | 2021 | % Change |
| Operational Sales1,2 | 0.9% | 6.1% | ||||
| Adjusted Operational Sales1,3 | 0.8% | 6.2% | ||||
| Adjusted Net Earnings1,4 | $6,218 | $5,678 | 9.5% | $27,038 | $26,195 | 3.2% |
| Adjusted EPS (diluted)1,4 | $2.35 | $2.13 | 10.3% | $10.15 | $9.80 | 3.6% |
1 Non-GAAP financial measure; refer to reconciliations of non-GAAP financial measures included in accompanying schedules
2 Excludes the impact of translational currency
3 Excludes the net impact of acquisitions and divestitures and translational currency
4 Excludes intangible amortization expense and special items
Note: values may have been rounded
REGIONAL SALES RESULTS
| Q4 | % Change | |||||
| ($ in Millions) | 2022 | 2021 | Reported | Operational1,2 | Currency | Adjusted Operational1,3 |
| U.S. | $12,516 | $12,163 | 2.9% | 2.9 | – | 2.7 |
| International | 11,190 | 12,641 | (11.5) | (1.1) | (10.4) | (1.0) |
| Worldwide | $23,706 | $24,804 | (4.4)% | 0.9 | (5.3) | 0.8 |
| Full Year | % Change | |||||
| ($ in Millions) | 2022 | 2021 | Reported | Operational1,2 | Currency | Adjusted Operational1,3 |
| U.S. | $48,580 | $47,156 | 3.0% | 3.0 | – | 3.0 |
| International | 46,363 | 46,619 | (0.6)% | 9.1 | (9.7) | 9.3 |
| Worldwide | $94,943 | $93,775 | 1.3% | 6.1 | (4.8) | 6.2 |
1 Non-GAAP financial measure; refer to reconciliations of non-GAAP financial measures included in accompanying schedules
2 Excludes the impact of translational currency
3 Excludes the net impact of acquisitions and divestitures and translational currency
Note: Values may have been rounded
SEGMENT SALES RESULTS
| Q4 | % Change | ||||||
| ($ in Millions) | 2022 | 2021 | Reported | Operational1,2 | Currency | Adjusted Operational1,3 | |
| Consumer Health4 | $3,767 | $3,728 | 1.0% | 6.4 | (5.4) | 6.4 | |
| Pharmaceutical4 | 13,163 | 14,217 | (7.4) | (2.5) | (4.9) | (2.3) | |
| MedTech | 6,776 | 6,859 | (1.2) | 4.9 | (6.1) | 4.4 | |
| Worldwide | $23,706 | $24,804 | (4.4)% | 0.9 | (5.3) | 0.8 | |
| Full Year | % Change | ||||||
| ($ in Millions) | 2022 | 2021 | Reported | Operational1,2 | Currency | Adjusted Operational1,3 | |
| Consumer Health4 | $14,953 | $15,035 | (0.5)% | 3.6 | (4.1) | 3.9 | |
| Pharmaceutical4 | 52,563 | 51,680 | 1.7 | 6.7 | (5.0) | 6.8 | |
| MedTech | 27,427 | 27,060 | 1.4 | 6.2 | (4.8) | 6.1 | |
| Worldwide | $94,943 | $93,775 | 1.3% | 6.1 | (4.8) | 6.2 |
1 Non-GAAP financial measure; refer to reconciliations of non-GAAP financial measures included in accompanying schedules
2 Excludes the impact of translational currency
3 Excludes the net impact of acquisitions and divestitures and translational currency
4 Certain international OTC products, primarily in China, were reclassified from the Pharmaceutical segment to the Consumer Health segment based on operational changes
Note: Values may have been rounded
