2026 Third-Quarter reported sales growth of 5.9% to $25.4 Billion with operational growth of 6.0%* and adjusted operational growth of 6.1%*
2026 Third-Quarter earnings per share (EPS) of $0.09 reflects a one-time special charge for the proposed talc litigation resolution, the acquisition of Firefly Bio, Inc., and the strategic collaboration with Sail Biomedicines; adjusted EPS* of $2.59 also reflects the impact of these M&A deals
Strong operational performance results in the Company increasing 2026 guidance with estimated reported sales of $101.2 Billion or 7.4% at the midpoint and increasing adjusted EPS* guidance by $0.06 to $11.10 or 2.9% at the midpoint
Significant innovation including the market authorization of OTTAVA as the world’s first table-integrated soft tissue robotic system, approval of IMAAVY in warm autoimmune hemolytic anemia (wAIHA), and priority review for RYBREVANT FASPRO for advanced head and neck cancer
NEW BRUNSWICK, N.J.--(BUSINESS WIRE)--Johnson & Johnson (NYSE: JNJ) today announced results for third-quarter 2026.
“Johnson & Johnson’s strong third-quarter performance and increased sequential growth reflect the accelerating momentum of our focused portfolio,” said Joaquin Duato, Chairman and Chief Executive Officer. “In the third quarter, we advanced breakthroughs that will redefine care for patients, from delivering one of our most transformative MedTech innovations with OTTAVA to reporting positive Phase 3 results in multiple myeloma. This progress, together with strategic investments in high-growth areas, gives us clearer line of sight to double-digit growth by the end of the decade.”
Overall financial results
Q3
($ in Millions, except EPS)
2026
2025
% Change
Reported Sales
$25,399
$23,993
5.9%
Net Earnings
$210
$5,152
(95.9)%
EPS (diluted)
$0.09
$2.12
(95.8)%
Q3
Non-GAAP* ($ in Millions, except EPS)
2026
2025
% Change
Operational Sales
1,2
6.0%
Adjusted Operational Sales
1,3
6.1%
Adjusted Net Earnings
1,4
$6,339
$6,801
(6.8)%
Adjusted EPS (diluted)
1,4
$2.59
$2.80
(7.5)%
Free Cash Flow
5,6
~$15,100
$14,226
1
Non-GAAP financial measure; refer to reconciliations of non-GAAP financial measures included in accompanying schedules
2
Excludes the impact of translational currency
3
Excludes the net impact of acquisitions and divestitures and translational currency
4
Excludes intangible amortization expense and special items
5
Non-GAAP financial measure; defined as cash flow from operating activities, less additions to property, plant and equipment. Cash flow from operations, the most directly comparable GAAP financial measure, will be included in subsequent SEC filings.
6
Third-quarter YTD 2026 is estimated as of October 13, 2026
Note: values may have been rounded
Regional sales results
Q3
% Change
($ in Millions)
2026
2025
Reported
Operational
1,2
Currency
Adjusted
Operational
1,3
U.S.
$14,959
$13,708
9.1%
9.1
-
9.1
International
10,440
10,285
1.5
1.8
(0.3)
1.9
Worldwide
$25,399
$23,993
5.9%
6.0
(0.1)
6.1
1
Non-GAAP financial measure; refer to reconciliations of non-GAAP financial measures included in accompanying schedules
2
Excludes the impact of translational currency
3
Excludes the net impact of acquisitions and divestitures and translational currency
Note: values may have been rounded
Segment sales results
Q3
% Change
($ in Millions)
2026
2025
Reported
Operational
1,2
Currency
Adjusted
Operational
1,3
Innovative Medicine
$16,757
$15,563
7.7%
7.9
(0.2)
8.0
MedTech
8,642
8,430
2.5
2.5
0.0
2.5
Worldwide
$25,399
$23,993
5.9%
6.0
(0.1)
6.1
1
Non-GAAP financial measure; refer to reconciliations of non-GAAP financial measures included in accompanying schedules
2
Excludes the impact of translational currency
3
Excludes the net impact of acquisitions and divestitures and translational currency
Note: values may have been rounded
Third-Quarter 2026 segment commentary:
Operational sales* reflected below excludes the impact of translational currency.
Innovative Medicine
Innovative Medicine worldwide operational sales grew 7.9%*, with divestitures negatively impacting growth by 10 basis points. Growth was primarily driven by TREMFYA and new products within Other in Immunology, DARZALEX, CARVYKTI, TECVAYLI, RYBREVANT/LAZCLUZE, and ERLEADA in Oncology, and SPRAVATO and CAPLYTA in Neuroscience. Growth was partially offset by STELARA (an approximate 690 basis points impact), SIMPONI/SIMPONI ARIA, and REMICADE in Immunology, as well as OPSUMIT/OPSYNVI in Pulmonary Hypertension, and IMBRUVICA in Oncology.
MedTech
MedTech worldwide operational sales grew 2.5%*. Growth was primarily driven by electrophysiology products and Shockwave in Cardiovascular, contact lenses in Vision, as well as trauma in Orthopaedics.
Full-year 2026 guidance:
Johnson & Johnson does not provide GAAP financial measures on a forward-looking basis because the company is unable to predict with reasonable certainty the ultimate outcome of legal proceedings, unusual gains and losses, acquisition-related expenses, and purchase accounting fair value adjustments without unreasonable effort. These items are uncertain, depend on various factors, and could be material to Johnson & Johnson's results computed in accordance with GAAP.
($ in Billions, except EPS)
October 2026
July 29, 2026
Adjusted Operational Sales
1,2
Change vs. Prior Year / Mid-point
6.4% – 6.8% / 6.6%
6.2% – 6.8% / 6.5%
Operational Sales
2
/ Mid-point
Change vs. Prior Year / Mid-point
$100.5B – $100.9B /$100.7B
6.7% – 7.1% / 6.9%
$100.3B – $100.9B / $100.6B
6.5% – 7.1% / 6.8%
Estimated Reported Sales
3
/ Mid-point
Change vs. Prior Year / Mid-point
$101.0B – $101.4B / $101.2B
7.2% – 7.6% / 7.4%
$100.8B – $101.4B / $101.1B
7.0% – 7.6% / 7.3%
Adjusted Operational EPS (Diluted)
2,4
/ Mid-point
Change vs. Prior Year / Mid-point
$10.95 – $11.05 / $11.00
1.5% – 2.4% / 2.0%
$10.86 – $11.01 / $10.94
0.7% – 2.1% / 1.4%
Adjusted EPS (Diluted)
3,4
/ Mid-point
Change vs. Prior Year / Mid-point
$11.05 – $11.15 / $11.10
2.4% – 3.3% / 2.9%
$10.96 – $11.11 / $11.04
1.6% – 3.0% / 2.3%
1
Non-GAAP financial measure; excludes the net impact of acquisitions and divestitures
2
Non-GAAP financial measure; excludes the impact of translational currency
3
Calculated using Euro Average Rate: October 2026 = $1.15 and July 2026 = $1.15 (Illustrative purposes only)
4
Non-GAAP financial measure; excludes intangible amortization expense and special items
Note: percentages may have been rounded
Other modeling considerations will be provided on the
webcast.
Notable announcements in the quarter:
The information contained in this section should be read together with Johnson & Johnson’s other disclosures filed with the Securities and Exchange Commission, including its Current Reports on Form 8-K, Quarterly Reports on Form 10-Q and Annual Reports on Form 10-K. Copies of these filings are available online at
,
or on request from Johnson & Johnson. The reader is also encouraged to review all other news releases and information available in the Investor Relations section of the company’s website at
Investor News
, as well as
Innovative Medicine Newsroom
,
MedTech News & Events
, and
.
Regulatory
Johnson & Johnson Receives CE Marking for ACUVUE OASYS MAX Reusable Contact Lenses
1
Press Release
FDA approves IMAAVY
®
(nipocalimab-aahu) as first-ever treatment for warm autoimmune hemolytic anemia (wAIHA), representing a landmark advancement for patients
Press Release
Johnson & Johnson's RYBREVANT FASPRO™ (amivantamab and hyaluronidase-lpuj) receives U.S. FDA Priority Review as potential first-in-class EGFR- and MET-targeted subcutaneous treatment for advanced head and neck cancer
Press Release
Johnson & Johnson Receives FDA Market Authorization in the U.S. for its OTTAVA™ Robotic Surgical System
Press Release
Johnson & Johnson Announces MONARCH™ QUEST 3, Advancing the Latest in Robotically-Assisted Bronchoscopy
Press Release
Data Releases
New Johnson & Johnson ICOTYDE
®
(icotrokinra) long-term data demonstrate robust 2- year results in the treatment of adults and adolescents with plaque psoriasis
1
Press Release
Johnson & Johnson announces new ICOTYDE™ (icotrokinra) data in difficult-to-treat plaque psoriasis with proven durability through 2-years, affirming its use as a powerful first line systemic therapy
1
Press Release
Johnson & Johnson presents new data reinforcing sustained disease control and improved daily function achieved with IMAAVY
®
(nipocalimab-aahu) in generalized myasthenia gravis (gMG)
Press Release
Johnson & Johnson announces TREMFYA
®
(guselkumab) is the first and only IL-23 inhibitor to show significant improvement in spinal pain and stiffness in landmark axial psoriatic arthritis (PsA) study
Press Release
Single infusion of CARVYKTI
®
(ciltacabtagene autoleucel) delivered five-year treatment-free remissions in 50% of patients in early line relapsed/refractory multiple myeloma
Press Release
New model-based analysis further supports the potential of TECVAYLI
®
(teclistamab-cqyv) plus DARZALEX FASPRO
®
(daratumumab and hyaluronidase-hj) to redene long-term survival expectations in early line relapsed/refractory multiple myeloma
Press Release
CAPLYTA
®
(lumateperone) shows significant and rapid improvement in bipolar mania in pivotal Phase 3 study
Press Release
RYBREVANT FASPRO™ (amivantamab and hyaluronidase-lpuj) plus LAZCLUZE
®
(lazertinib) with prophylactic strategies shows low rates of treatment-related events at WCLC 2026
Press Release
Johnson & Johnson's RYBREVANT
®
(amivantamab-vmjw) plus chemotherapy delivers longest reported median overall survival in EGFR exon 20 insertion mutation-positive lung cancer
Press Release
Johnson & Johnson spotlights new neuropsychiatry data across bipolar mania, depression and schizophrenia at Psych Congress 2026
Press Release
TECVAYLI
®
+ TALVEY
®
reduced the risk of disease progression or death by 89% and the risk of death by 62% in earlier-line relapsed/refractory multiple myeloma
Press Release
Other
New Global Survey by Johnson & Johnson Finds Most Women Don’t Connect Eye Health Changes with Menopause
1
Press Release
Johnson & Johnson’s Executive Vice President Jennifer Taubert to Retire; Tom Cavanaugh Appointed EVP, Worldwide Chairman Innovative Medicine Effective September
Press Release
Johnson & Johnson Completes Acquisition of Firefly Bio, Inc. to Advance Next-Generation Oncology Innovation
Press Release
Johnson & Johnson Announces Collaboration with Sail Biomedicines to Advance in vivo CAR-T Programs and Transform Autoimmune Disease Through Immune Reset
Press Release
Johnson & Johnson Announces a Proposed Resolution of Ovarian Talc Litigation
Press Release
1
Subsequent to the quarter
Webcast information:
Johnson & Johnson will conduct a conference call with investors to discuss this earnings release today at 8:30 a.m., Eastern Time. A simultaneous webcast of the call for investors and other interested parties may be accessed by visiting the
Johnson & Johnson website.
A replay and podcast will be available approximately two hours after the live webcast in the Investor Relations section of the company's website at
events-and-presentations
.
About Johnson & Johnson:
At Johnson & Johnson, we believe health is everything. Our strength in healthcare innovation empowers us to build a world where complex diseases are prevented, treated, and cured, where treatments are smarter and less invasive, and solutions are personal. Through our expertise in Innovative Medicine and MedTech, we are uniquely positioned to innovate across the full spectrum of healthcare solutions today to deliver the breakthroughs of tomorrow, and profoundly impact health for humanity. Learn more at
.
Non-GAAP financial measures:
* “Operational sales growth” excluding the impact of translational currency, “adjusted operational sales growth” excluding the net impact of acquisitions and divestitures and translational currency, as well as “adjusted net earnings”, “adjusted diluted earnings per share” and “adjusted operational diluted earnings per share” excluding after-tax intangible amortization expense and special items, are non-GAAP financial measures and should not be considered replacements for, and should be read together with, the most comparable GAAP financial measures. Except for guidance measures, reconciliations of these non-GAAP financial measures to the most directly comparable GAAP financial measures can be found in the accompanying financial schedules of the earnings release and the Investor Relations section of the company's website at
quarterly results
.
Copies of the financial schedules accompanying this earnings release are available on the company’s website at
quarterly results
. These schedules include supplementary sales data, a condensed consolidated statement of earnings, reconciliations of non-GAAP financial measures, and sales of key products/franchises. Additional information on Johnson & Johnson, including adjusted income before tax by segment, an
Innovative Medicine pipeline
of selected compounds in late stage development and a copy of today’s earnings call presentation can also be found in the Investor Relations section of the company's website at
quarterly results
.
Note to investors concerning forward-looking statements:
This press release contains “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995 regarding, among other things: future operating and financial performance, product development, and market position and business strategy. The reader is cautioned not to rely on these forward-looking statements. These statements are based on current expectations of future events. If underlying assumptions prove inaccurate or known or unknown risks or uncertainties materialize, actual results could vary materially from the expectations and projections of Johnson & Johnson. Risks and uncertainties include, but are not limited to: economic factors, such as interest rate and currency exchange rate fluctuations or changes to applicable laws and regulations; competition, including technological advances, new products and patents attained by competitors; challenges inherent in new product research and development, including uncertainty of clinical success and obtaining regulatory approvals; uncertainty of commercial success for new and existing products; challenges to patents; the impact of patent expirations; the ability of the Company to successfully execute strategic plans, including restructuring plans; the impact of business combinations and divestitures; manufacturing difficulties or delays, internally or within the supply chain; product efficacy or safety concerns resulting in product recalls or regulatory action; significant adverse litigation or government action, including related to product liability claims; changes to applicable laws and regulations, including tax laws and global health care reforms; trends toward health care cost containment; changes in behavior and spending patterns of purchasers of health care products and services; financial instability of international economies and legal systems and sovereign risk; increased scrutiny of the health care industry by government agencies; and the Company's ability to successfully separate the Company's Orthopaedics business and realize the anticipated benefits from the planned separation. A further list and descriptions of these risks, uncertainties and other factors can be found in Johnson & Johnson’s most recent Annual Report on Form 10-K, including in the sections captioned “Cautionary Note Regarding Forward-Looking Statements” and “Item 1A. Risk Factors,” and in Johnson & Johnson’s subsequent Quarterly Reports on Form 10-Q and other filings with the Securities and Exchange Commission. Copies of these filings are available online at
,
,
investor.jnj.com
, or on request from Johnson & Johnson. Any forward-looking statement made in this release speaks only as of the date of this release. Johnson & Johnson does not undertake to update any forward-looking statement as a result of new information or future events or developments.
Johnson & Johnson and Subsidiaries
Supplementary Sales Data
(Unaudited; Dollars in Millions)
THIRD QUARTER
NINE MONTHS
Percent Change
Percent Change
2026
2025
Total
Operations
Currency
2026
2025
Total
Operations
Currency
Sales to customers by
segment of business
Innovative Medicine
U.S.
$
10,447
9,402
11.1
%
11.1
-
$
29,297
26,655
9.9
%
9.9
-
International
6,310
6,161
2.4
3.0
(0.6
)
19,270
17,983
7.2
3.6
3.6
16,757
15,563
7.7
7.9
(0.2
)
48,567
44,638
8.8
7.4
1.4
MedTech
U.S.
4,512
4,306
4.8
4.8
-
13,525
12,902
4.8
4.8
-
International
4,130
4,124
0.1
0.1
0.0
12,679
12,089
4.9
2.2
2.7
8,642
8,430
2.5
2.5
0.0
26,204
24,991
4.9
3.5
1.4
U.S.
14,959
13,708
9.1
9.1
-
42,822
39,557
8.3
8.3
-
International
10,440
10,285
1.5
1.8
(0.3
)
31,949
30,072
6.2
3.0
3.2
Worldwide
$
25,399
23,993
5.9
%
6.0
(0.1
)
$
74,771
69,629
7.4
%
6.0
1.4
Note:
Percentages have been calculated using actual, non-rounded figures and, therefore, may not recalculate precisely.
Johnson & Johnson and Subsidiaries
Supplementary Sales Data
(Unaudited; Dollars in Millions)
THIRD QUARTER
NINE MONTHS
Percent Change
Percent Change
2026
2025
Total
Operational
Currency
2026
2025
Total
Operational
Currency
Sales to customers by
geographic area
U.S.
$
14,959
13,708
9.1
%
9.1
-
$
42,822
39,557
8.3
%
8.3
-
Europe
5,405
5,440
(0.6
)
1.0
(1.6
)
16,979
15,937
6.5
2.3
4.2
Western Hemisphere excluding U.S.
1,385
1,231
12.5
8.0
4.5
3,987
3,604
10.6
4.5
6.1
Asia-Pacific, Africa
3,650
3,614
1.0
1.0
0.0
10,983
10,531
4.3
3.6
0.7
International
10,440
10,285
1.5
1.8
(0.3
)
31,949
30,072
6.2
3.0
3.2
Worldwide
$
25,399
23,993
5.9
%
6.0
(0.1
)
$
74,771
69,629
7.4
%
6.0
1.4
Note:
Percentages have been calculated using actual, non-rounded figures and, therefore, may not recalculate precisely.
Johnson & Johnson and Subsidiaries
Condensed Consolidated Statement of Earnings
(Unaudited; in Millions Except Per Share Figures)
THIRD QUARTER
2026
2025
Percent
Percent
Percent
Increase
Amount
to Sales
Amount
to Sales
(Decrease)
Sales to customers
$
25,399
100.0
$
23,993
100.0
5.9
Cost of products sold
8,097
31.9
7,303
30.4
10.9
Gross Profit
17,302
68.1
16,690
69.6
3.7
Selling, marketing and administrative expenses
6,285
24.7
5,922
24.7
6.1
Research and development expense
4,652
18.3
3,672
15.3
26.7
In-process research and development impairments
339
1.4
-
-
Interest (income) expense, net
31
0.1
18
0.1
Other (income) expense, net
5,780
22.8
(478
)
(2.0
)
Restructuring
181
0.7
63
0.3
Earnings before provision for taxes on income
34
0.1
7,493
31.2
(99.5
)
(Benefit from)/Provision for taxes on income
(176
)
(0.7
)
2,341
9.7
(107.5
)
Net earnings
$
210
0.8
$
5,152
21.5
(95.9
)
Net earnings per share (Diluted)
$
0.09
$
2.12
(95.8
)
Average shares outstanding (Diluted)
2,448.6
2,428.6
Effective tax rate
(517.6
)
%
31.2
%
Adjusted earnings before provision for taxes and net earnings
(1)
Earnings before provision for taxes on income
$
7,672
30.2
$
8,436
35.2
(9.1
)
Net earnings
$
6,339
25.0
$
6,801
28.3
(6.8
)
Net earnings per share (Diluted)
$
2.59
$
2.80
(7.5
)
Effective tax rate
17.4
%
19.4
%
(1) See Reconciliation of Non-GAAP Financial Measures.
Johnson & Johnson and Subsidiaries
Condensed Consolidated Statement of Earnings
(Unaudited; in Millions Except Per Share Figures)
NINE MONTHS
2026
2025
Percent
Percent
Percent
Increase
Amount
to Sales
Amount
to Sales
(Decrease)
Sales to customers
$
74,771
100.0
$
69,629
100.0
7.4
Cost of products sold
24,254
32.4
22,288
32.0
8.8
Gross Profit
50,517
67.6
47,341
68.0
6.7
Selling, marketing and administrative expenses
18,751
25.1
16,923
24.3
10.8
Research and development expense
11,832
15.8
10,413
15.0
13.6
In-process research and development impairments
375
0.5
-
-
Interest (income) expense, net
136
0.2
(62
)
(0.1
)
Other (income) expense, net
6,405
8.6
(7,692
)
(11.1
)
Restructuring
247
0.3
144
0.2
Earnings before provision for taxes on income
12,771
17.1
27,615
39.7
(53.8
)
Provision for taxes on income
1,792
2.4
5,927
8.6
(69.8
)
Net earnings
$
10,979
14.7
$
21,688
31.1
(49.4
)
Net earnings per share (Diluted)
$
4.49
$
8.94
(49.8
)
Average shares outstanding (Diluted)
2,445.8
2,424.8
Effective tax rate
14.0
%
21.5
%
Adjusted earnings before provision for taxes and net earnings
(1)
Earnings before provision for taxes on income
$
24,153
32.3
$
24,635
35.4
(2.0
)
Net earnings
$
20,034
26.8
$
20,206
29.0
(0.9
)
Net earnings per share (Diluted)
$
8.19
$
8.33
(1.7
)
Effective tax rate
17.1
%
18.0
%
(1) See Reconciliation of Non-GAAP Financial Measures.
Johnson & Johnson and Subsidiaries
Reconciliation of Non-GAAP Financial Measures
Third Quarter
Nine Months Ended
(Dollars in Millions Except Per Share Data)
2026
2025
2026
2025
Net Earnings, after tax- as reported
$210
$5,152
$10,979
$21,688
Pre-tax Adjustments
Litigation related
5,519
15
6,116
(6,894
)
Intangible Asset Amortization expense
1,240
1,048
3,732
3,435
Restructuring related
1
195
168
533
302
Orthopaedics separation related
369
-
746
-
Acquisition, integration and divestiture related
(34
)
97
142
475
(Gains)/losses on securities
10
(387
)
(262
)
(327
)
IPR&D impairments
339
-
375
-
Other
-
2
-
29
Tax Adjustments
Tax impact on special item adjustments
2
(1,677
)
(168
)
(2,469
)
826
Tax legislation and other tax related
168
874
142
672
Adjusted Net Earnings , after tax
$6,339
$6,801
$20,034
$20,206
Average shares outstanding (Diluted)
2,448.6
2,428.6
2,445.8
2,424.8
Adjusted net earnings per share (Diluted)
$2.59
$2.80
$8.19
$8.33
Operational adjusted net earnings per share (Diluted)
$2.61
$8.04
Notes:
1
In the fiscal second quarter of 2026, the Company initiated a supply chain restructuring program primarily in the Innovative Medicine segment to exit certain manufacturing locations as part of its optimization efforts to streamline operations. The program is expected to be substantially completed by the end of fiscal year 2029 with estimated costs between $650 - $750 million, and include site and supplier exit costs, decommissioning and asset impairment costs. Restructuring expenses of $74 million in the fiscal third quarter of 2026 ($274 million Q3 2026 YTD), were primarily related to asset impairments and exit costs.
In fiscal 2025, the Company initiated a restructuring program of its Surgery franchise within the MedTech segment to simplify and focus operations by exiting certain non-strategic product lines and optimize select sites across the network. Restructuring expenses of $80 million were recorded in the fiscal third quarter of 2026 ($194 million Q3 2026 YTD) and $128 million in the fiscal third quarter of 2025 ($157 million Q3 2025 YTD) primarily includes costs related to product exits. This program is expected to be substantially completed by the end of fiscal year 2026.
In fiscal 2023, the Company initiated a restructuring program of its Orthopaedics franchise within the MedTech segment to streamline operations by exiting certain markets, product lines and distribution network arrangements. The restructuring expenses of $41 million in the fiscal third quarter of 2026 ($65 million Q3 2026 YTD) and $40 million in the fiscal third quarter of 2025 ($145 million Q3 2025 YTD) includes costs related to market and product exits. This program will be completed as of Q4 2026 at a total cost of approximately $1 billion.
2
The tax impact related to special item adjustments reflects the current and deferred income taxes associated with the above pre-tax special items in arriving at adjusted earnings.
Contacts
Media contact:
media-relations@its.jnj.com
Investor contact:
investor-relations@its.jnj.com
Read full story here