J&J Lays Out ‘Responsibly Cautious’ Growth Outlook

Jan 24 2023

• By Jessica Merrill

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The company's 2023 revenue guidance calls for 4.5%-5.5% growth, taking into account ongoing macroeconomic uncertainty and inflationary pressures.

Financial results — J&J reported fourth quarter financial results • Source: Shutterstock

Johnson & Johnson fourth's quarter sales and earnings were largely in line with analyst consensus estimates – slightly below on revenues but above on earnings – but some investors remain concerned about the near-term growth outlook for the company's pharmaceutical business given the upcoming loss of exclusivity for its top-selling drug Stelara (ustekinumab), anticipated in late 2023.

Management presented 2023 financial guidance that chief financial officer Joseph Wolk summed up as "responsibly cautious" during the company's fourth...

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