Summary by Futu AI
On April 16, 2024, Johnson & Johnson reported its financial results for the first quarter ended March 31, 2024. The company announced a reported sales growth of 2.3% reaching $21.4 billion, with an operational growth of 3.9% and an adjusted operational growth of 4.0%. Excluding the COVID-19 vaccine, the adjusted operational growth was 7.7%. Earnings per share (EPS) increased to $2.20, and adjusted EPS rose to $2.71, marking a 12.4% increase. Additionally, Johnson & Johnson's Board of Directors declared a 4.2% increase in the quarterly dividend rate, from $1.19 to $1.24 per share, continuing a 62-year streak of consecutive dividend increases. The next dividend is scheduled to be paid on June 4, 2024, to shareholders of record as of May 21, 2024. The company also raised its full-year 2024 operational sales and adjusted operational EPS guidance. The report highlighted the performance of key products and segments, including Innovative Medicine and MedTech, and noted several regulatory approvals and product launches. Johnson & Johnson emphasized its commitment to healthcare innovation and its position in the industry.