Johnson & Johnson (NYSE: JNJ) announced its financial results for the fourth quarter of 2025, revealing adjusted earnings per share (EPS) of $2.46. This figure represents a 20.6% increase from the same period in the previous year and slightly surpasses the consensus estimate of $2.44. The healthcare conglomerate posted total sales of $24.56 billion during the quarter, marking year-over-year growth of 9.1% and higher than the anticipated $24.16 billion.
Underlying operations expanded by 7.1%, with adjusted operational growth measuring 6.1%. The company’s Innovative Medicine segment delivered 10% nominal sales growth to $15.76 billion, equating to 7.9% on an operational basis. Full-year 2025 revenue for Johnson & Johnson reached $60.40 billion, a 6% increase from the prior fiscal year. Operational sales for the year grew by 5.3%, bolstered by effects from acquisitions and divestitures, which contributed a positive 1.2%, primarily owing to Caplyta.
Key drivers of revenue growth included oncology treatments such as Darzalex (daratumumab), Carvykti (ciltacabtagene autoleucel), Erleada (apalutamide), and Rybrevant/Lazcluze, alongside immunology products like Tremfya (guselkumab) and Simponi/Simponi Aria, and neuroscience therapy Spravato (esketamine). However, growth was partially offset by a significant impact from Stelara within the Immunology segment, estimated to have reduced sales by approximately 1,040 basis points.
Cancer drug sales soared to $6.86 billion, reflecting an increase of 24.8% in reported terms and 21.9% operationally. Conversely, Immunology revenues decreased by 8.9% to $3.86 billion, or 10.3% on an operational basis. The MedTech segment reported a 7.5% rise in revenue to $8.80 billion, with operational growth of 5.4% aided by acquisitions and divestitures contributing about 1.1%, mainly through Shockwave.
Growth in MedTech was largely fueled by cardiovascular offerings, such as electrophysiology products and Abiomed, along with wound closure solutions in the General Surgery category. Johnson & Johnson’s earnings presentation noted that both its cellular cancer therapy Carvykti and Shockwave medical devices had crossed the $1 billion annual sales threshold. Moreover, the company pointed out that it currently operates 28 individual platforms generating at least $1 billion in yearly revenue.
Fiscal 2026 Guidance
Looking ahead, Johnson & Johnson provided guidance for the fiscal year 2026. The company projects adjusted earnings per share to range between $11.43 and $11.63, aligning closely with the consensus estimate of $11.45. For total sales, management anticipates revenues in the range of $99.50 billion to $100.5 billion, modestly above the consensus forecast of $98.89 billion.
Stock Market Reaction
In premarket trading on Wednesday, shares of Johnson & Johnson were down 0.90%, trading at $216.24. The stock price remains near its 52-week high of $220.11, according to market data.