Johnson & Johnson earnings: date, guidance and results
Johnson & Johnson's next results are expected on January 20, 2027. The key thing to watch is whether talc payments turn legal exposure into a defined cash burden.
What has Johnson & Johnson guided for 2026?
Management raised its full-year 2026 adjusted earnings per share, or EPS, forecast to $11.05–$11.15. EPS means profit allocated to each share. It estimated reported sales at $101,000–$101,400 million.
Operational growth removes the effect of translating foreign sales into dollars. Adjusted operational growth also removes the net effect of acquisitions and disposals. J&J expects adjusted operational sales growth of 6.4%–6.8%, below reported growth of 7.2%–7.6%. Both measures still benefit from an extra fiscal week in 2026, which brings sales but also wages and other costs.
| the period guided | low | high | the date it was given | |
|---|---|---|---|---|
| Adjusted Operational Sales Change vs. Prior Year | FY2026 | 6.4% | 6.8% | 2026-10-13 |
| Estimated Reported Sales | FY2026 | 101,000 | 101,400 | 2026-10-13 |
| Estimated Reported Sales Change vs. Prior Year | FY2026 | 7.2% | 7.6% | 2026-10-13 |
| Adjusted EPS (Diluted) | FY2026 | 11.05 | 11.15 | 2026-10-13 |
What this means. The company’s free cash flow is cash from operations minus money spent on property, plant, and equipment, so it is not the same as profit.
Has Johnson & Johnson kept its past promises?
J&J has also made promises that can be checked against events. Duato told shareholders in March 2023 that J&J was preparing to become a more focused company with two sectors; the Kenvue separation was completed that August. A July 2026 presentation identified the OTTAVA surgical robot as a milestone, and October results reported its authorization to enter the market. Delivery matters, but an approval is not yet proof that a project has earned its cost.
What is Johnson & Johnson's last eight-quarter trend?
September 2026 revenue rose 5.9% year over year, while organic growth reached 6.1%. Gross margin fell from 69.6% to 68.1%, but that modest change cannot explain operating income collapsing from $7,511 million to $65 million.
| Sep 2026 | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | 25,399 | 25,310 | 24,062 | 24,564 | 23,993 | 23,743 | 21,893 | 22,520 |
| Gross margin | 68.1% | 68.2% | 66.3% | 67.6% | 69.6% | 67.9% | 66.4% | 68.3% |
| Operating income | 65 | 6,809 | 6,033 | 4,943 | 7,511 | 6,539 | 13,503 | 3,743 |
| Net income | 210 | 5,534 | 5,235 | 5,116 | 5,152 | 5,537 | 10,999 | 3,431 |
| EPS, diluted | 0.09 | 2.27 | 2.14 | 2.10 | 2.12 | 2.29 | 4.54 | 1.41 |
| = Free cash flow | 7,156 | 1,411 | 5,409 | 7,979 | 2,799 | 3,349 | 5,299 |
What this means. The September 2026 cash flow and free cash flow figures are blank because the company had not yet published the required cash-flow statement, not because it generated no cash.
What should I watch in Johnson & Johnson's next results?
The conditional talc proposal is the largest near-term legal cash question. J&J committed $5.5 billion, subject to participation by 95.0% of remaining claimants. The first payment is capped at $3 billion in 2027. Accounting can record the obligation before the instalments leave the bank, so reported earnings and cash flow may look worst in different periods.