Johnson & Johnson is slated to present its third quarter earnings report on Tuesday, with observers anticipating an uptick in the company's year-on-year revenue and profit. The current consensus is that Johnson & Johnson will report $22.21 billion in revenue, marking a 4% increase from the $21.35 billion reported in the third quarter of the previous year according to estimates made by Visible Alpha. However, net income is projected to encounter a slight decrease, slipping to $4.07 billion from $4.31 billion.
Albeit, it bears noting that in the third quarter of 2023, the company logged a $21 billion one-time gain attributed to discontinued operations when it finalized the spinoff of its consumer goods division, manufacturing products such as Tylenol and Band-Aids, into a separate publicly-traded entity named Kenvue (KVUE).
The company has adjusted its full-year outlook during the first two quarters. Recently, the pharmaceutical giant hinted at a further update after the close of its V-Wave acquisition, dedicated to developing numerous heart failure treatments. The August-announced deal amounted to $1.7 billion.
The V-Wave purchase is one among a string of acquisitions made by Johnson & Johnson this year to enhance its drug portfolio, dipping into areas such as cancer treatment and cardiovascular health. Currently, the company has around 100 drugs in the development pipeline, from different stages of clinical trials up to those having been presented to the Food and Drug Administration (FDA) or international regulators.
On Thursday, Johnson & Johnson's stocks stood mostly unchanged at $160.51, marking a slight increase of over 2% from the start of the year.