Johnson & Johnson’s 2Q sales hit by negative currency impact; dropping 8.8 percent to US$17.8 billion versus 2Q 2014

Johnson & Johnson’s 2Q sales hit by negative currency impact; dropping 8.8 percent to US$17.8 billion versus 2Q 2014

Johnson & Johnson has blamed the negative impact of currency for disappointing second quarter sales. The company posted an 8.8 percent decrease in sales to US$17.8 billion for the second quarter (2Q) of 2015 when compared to 2Q 2014. On an operational basis, excluding the net impact of acquisitions and divestitures, worldwide sales increased 1.7 percent, domestic sales grew 0.6 percent and international sales rose 2.7 percent.

Worldwide consumer sales dropped 7 percent to US$3.5 billion, consisting of an operational increase of 2.3 percent and a negative impact from currency of 9.3 percent. While domestic sales increased 2.7 percent, international sales were hit by a negative currency impact of 14.3 percent to fall 12.2 percent overall. The company was keen to highlight the positive performance of its Listerine oral care range.

Net earnings and diluted earnings per share for the second quarter of 2015 were US$4.5 billion and US$1.61 respectively. The company has increased its adjusted earnings guidance for full-year 2015 to US$6.10 to US$6.20 per share.

“Our solid sales and earnings results in the quarter reflect the strong underlying growth we’re seeing across the enterprise,” said Alex Gorsky, Chairman and Chief Executive Officer. “Our diverse portfolio and scale are enabling this performance, and we’ve continued to invest in building a robust enterprise pipeline that will drive our growth over the long term. Our passion to deliver transformational new medicines and products reflects the ongoing commitment of our dedicated employees to improve health and well-being.”

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