Johnson & Johnson Q4 Earnings Call Highlights

2 days ago 2

MarketBeat

Wed, January 21, 2026 astatine 11:14 AM CST 8 min read

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Management called 2025 a motorboat into accelerated growth, highlighted large R&D/M&A concern and a planned separation of the Orthopaedics concern targeted for mid‑2027, and guided 2026 to operational income maturation of 5.7%–6.7% (midpoint ~$100B) with adjusted EPS of $11.28–$11.48.
Q4 income were $24.6B (up 7.1% operationally) and full‑year income were $94.2B (up 5.3% operationally); adjusted Q4 EPS roseate ~20.6%, escaped currency travel was $19.7B successful 2025 and nett indebtedness was astir $28B.
Product momentum is concentrated successful oncology and immunology—Darzalex, Carvykti and Tremfya showed beardown double‑digit growth—while Stelara fell ~48.6% from biosimilar pressure; MedTech besides grew but absorption expects astir $500M of tariffs headwinds successful 2026.
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Johnson & Johnson (NYSE:JNJ) executives highlighted what they described arsenic a “catapult year” successful 2025, pointing to beardown operational income growth, accelerating momentum successful cardinal therapeutic and instrumentality categories, and a 2026 outlook that calls for faster maturation and improving margins contempt continued headwinds from biosimilar contention and tariffs.

CEO Joaquin Duato said 2025 “launched america into a caller epoch of accelerated growth,” supported by what helium called the strongest portfolio and pipeline successful the company’s history. He emphasized Johnson & Johnson’s absorption connected six halfway areas—oncology, immunology, neuroscience, cardiovascular, surgery, and vision—and noted the institution has “28 platforms oregon products that make astatine slightest $1 cardinal of gross annually.”

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Duato besides reiterated a strategical pivot toward higher-growth markets, including a planned separation of the Orthopaedics business, which CFO Joe Wolk said is targeted for mid-2027. Duato said the institution invested implicit $32 cardinal successful R&D and M&A successful 2025, including the acquisitions of Intra-Cellular Therapies and Halda Therapeutics, and initiated “billions of dollars” successful caller U.S. manufacturing facilities.

Investor Relations Vice President Darren Snellgrove reported fourth-quarter 2025 worldwide income of $24.6 billion, up 7.1% operationally contempt an approximate 650 ground constituent headwind from Stelara. U.S. income grew 7.5% and income extracurricular the U.S. grew 6.6%. Acquisitions and divestitures added 100 ground points to worldwide growth, chiefly driven by the Intra-Cellular acquisition.