Johnson & Johnson (NYSE: JNJ) ended fiscal 2025 on a high note, reporting higher revenues and strong earnings growth for the fourth quarter. The company’s market position remains solid, supported by its diversified healthcare portfolio and resilient balance sheet. A bellwether for the broader healthcare sector, it is well-positioned to navigate periods of segment-specific volatility.
When Johnson & Johnson reports its first-quarter FY26 results on April 14, before the opening bell, Wall Street analysts will be expecting adjusted earnings of $2.67 per share, marking a decline from the prior-year quarter when it earned $2.77 per share. Q1 revenues are expected to increase 7.85% year-over-year to $23.61 billion. In the prior quarter, earnings came in line with estimates, after consistently beating the Street view over the past several quarters. Q4 revenue was slightly above expectations.
Stock Gains
Johnson & Johnson’s stock (JNJ) has delivered strong gains over the past year, though not without fluctuations, and reached an all-time high last month. The shares have gained 15% since the beginning of 2026, outperforming the S&P 500, which declined over the same period. With several of its products generating more than $1 billion in annual revenues, the company appears to have overcome the loss of exclusivity for its top-selling immunology drug Stelara. Further supporting its long-term investment case, the company has increased its dividend annually for more than 50 consecutive years.
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For the final three months of FY25, Johnson & Johnson reported a 9.1% year-over-year increase in net sales to $24.56 billion, with operational sales growing 7.1%. Driven by the strong top-line growth, adjusted earnings grew 20.6% to $2.46 per share. Unadjusted profit surged nearly 50% from last year to $5.1 billion or $2.10 per share in Q4. For fiscal 2026, management expects reported sales to be in the range of $100-101 billion and adjusted earnings between $11.43 per share and 11.63 per share.
“Our performance demonstrates the depth and strength of Johnson & Johnson’s business, centered on six core areas of Oncology, Immunology, and Neuroscience in Innovative Medicine, and Cardiovascular, Surgery, and Vision in MedTech. This has enabled us to exceed financial expectations that existed at the beginning of 2025 on both the top and bottom line. We enter 2026 with powerful momentum and anticipate another solid year ahead,” said Johnson & Johnson’s CFO Joseph Wolk in his post-earnings interaction with analysts.
Road Ahead
Johnson & Johnson is leaning on diversification and innovation to sustain growth momentum into FY26. Management has highlighted resilience across the three core segments—pharmaceuticals, medical devices, and consumer health. It is outlining strategies to balance near-term challenges with long-term expansion. While oncology and immunology continue to drive revenue growth, patent expirations remain a headwind; however, pipeline innovation and targeted launches are expected to partially offset the resulting erosion.
JNJ traded slightly lower in the early hours of Tuesday, hovering around the $240-mark. It has grown more than 50% in the past twelve months.
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