Q2 2025 Johnson & Johnson Earnings Call Transcript
Key Points
- Johnson & Johnson (JNJ) reported a strong operational sales growth of 4.6% across its business in the second quarter of 2025.
- The company achieved over $15 billion in quarterly sales for the first time in its Innovative Medicine segment, despite the loss of exclusivity for STELARA.
- MedTech division delivered 6.1% operational sales growth, with significant momentum in cardiovascular surgery.
- Johnson & Johnson (JNJ) raised its full-year sales guidance by $2 billion and EPS guidance by $0.25.
- The company is making significant progress in oncology, with a 22.3% operational sales growth and a bold vision to become the number one oncology company by 2030.
- The loss of exclusivity for STELARA posed a significant headwind, impacting sales by approximately 710 basis points.
- Adjusted net earnings for the quarter decreased by 2.1% compared to the second quarter of 2024.
- The orthopedics business declined by 1.6%, driven by competitive pressures and transformation programs.
- MedTech margin declined from 25.7% to 22.2% due to macroeconomic factors and cost of products sold.
- Interest income and expense shifted to a net expense of $48 million from $125 million of income in the second quarter of 2024, primarily due to lower interest rates and higher debt from acquisitions.
Good morning and welcome to Johnson & Johnson's second-quarter 2025 earnings conference call. (Operator Instructions) The conference call is being recorded. (Operator Instructions) I will now turn the conference call over to Johnson & Johnson. You may begin.
Hello, everyone. This is Dan Snellgrove, Vice President of Investor Relations for Johnson & Johnson. I'm excited to be here today and to lead the Investor Relations team moving forward. Welcome to our 2025 second-quarter review of business results and updated financial outlook.
First, a few logistics. As a reminder, today's presentation and associated schedules are available on the Investor Relations section of the Johnson & Johnson website at investor.jnj.com.
Please note that this presentation contains forward-looking statements regarding, among other things, the company's future operating and financial performance, market position, and business strategy. You're cautioned not to rely on these
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