Johnson & Johnson (NYSE: JNJ) early on Thursday announced Q2 2020 results.
Sales of $18.3 billion reflecting a decline of 10.8%, operational decline of 9.0%* and adjusted operational decline of 8.8%*, primarily driven by the negative impact of the COVID-19 pandemicJohnson and Johnson
“Our second quarter results reflect the impact of COVID-19 and the enduring strength of our Pharmaceutical business, where we saw continued growth even in this environment,” said Alex Gorsky, Chairman and CEO.
The estimated impact of the COVID-19 pandemic is included in the guidance below
Johnson & Johnson will conduct a conference call with investors to discuss this earnings release today at 8:00 a.m., Eastern Time. A simultaneous webcast of the call for investors and other interested parties may be accessed by visiting the Johnson & Johnson website. A replay and podcast will be available approximately two hours after the live webcast in the Investors section of the Company’s website at events-and-presentations.
On a year-to-date basis JNJ stock did not move a nudge. It opened this year with a $146 price tag while it closed on Wednesday at $148.26
I believe that there is a way for JNJ shares to go further this year, even though this decline is a significant one.