Johnson & Johnson Q2 2026: sales up 6.6%, outlook raised to $101.1B
Johnson & Johnson's second quarter was a beat-and-raise: sales rose 6.6% to $25.31 billion, adjusted EPS of $2.90 topped the $2.87 consensus, and management lifted full-year reported sales guidance to $101.1 billion at the midpoint. The catch is that GAAP net income was flat and GAAP EPS slipped, so read the quarter on the operational line, not the headline profit number.
1 · Expected vs. Actual
Free preview belowGAAP EPS slipped to $2.27 from $2.29 and net income was essentially flat at $5.53 billion against $5.54 billion. Adjusted EPS, which strips out intangible amortization and special items, rose 4.7% to $2.90, roughly $0.03 above the $2.87 consensus estimate. The $0.63 gap between GAAP and adjusted EPS is the number to keep watching.
Sales came in at $25.31 billion, up 6.6% from $23.74 billion a year ago, but 1.0 point of that came from currency, leaving operational growth at 5.6%. Innovative Medicine did the heavy lifting at $16.38 billion, up 7.8% as reported and 6.8% operationally, while MedTech grew 4.5% to $8.93 billion. Gross margin improved to 68.2% from 67.9% a year ago and 66.3% in the prior quarter.
Management lifted full-year reported sales guidance to a range of $100.8 billion to $101.4 billion, or $101.1 billion at the midpoint, up from $100.8 billion in April. Adjusted EPS guidance rose by $0.13 to $11.68 at the midpoint, an 8.2% increase over the prior year. That range is only about 0.3% wide around the midpoint, which leaves little room for slippage.
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Figures on this page come from the company's original SEC filings. The analysis is generated automatically and checked against validation rules, but may still contain errors or omissions. Not investment advice. · Generated 2026-09-17
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