2025 First-Quarter reported sales growth of 2.4% to $21.9 Billion with operational growth of 4.2%* and adjusted operational growth of 3.3%*
2025 First-Quarter earnings per share (EPS) increased to $4.54 which includes the reversal of special charges and adjusted EPS increased to $2.77 or 2.2%*
Significant new product pipeline progress including approval of TREMFYA in Crohn's disease, data for RYBREVANT/LAZCLUZE overall survival in non-small cell lung cancer and icotrokinra in plaque psoriasis, and initiation of the clinical trial for a general surgery robotic system, OTTAVA
Company increases Full-Year 2025 operational sales^2,5 guidance to reflect the addition of CAPLYTA following the completion of the Intra-Cellular Therapies acquisition
Including tariff costs, dilution from the Intra-Cellular Therapies acquisition, and updated foreign exchange, Company maintains Full-Year 2025 adjusted reported EPS⁴ outlook of 6.2%* growth at the mid-point

Johnson & Johnson (NYSE:JNJ) today announced results for first-quarter 2025. "The power of Johnson & Johnson's uniquely diversified portfolio was on full display this quarter, with strong operational sales growth reinforcing our confidence in 2025 guidance," said Joaquin Duato, Chairman and Chief Executive Officer, Johnson & Johnson. "During the quarter, we fortified our position as an innovation powerhouse with major advancements across our pipeline, including TREMFYA in IBD, RYBREVANT plus LAZCLUZE in non-small-cell lung cancer, and OTTAVA, our soft tissue surgical robotic system, and further enhanced our leading neuroscience portfolio with the completion of the Intra-Cellular Therapies acquisition."

Overall financial results

	Q1
($ in Millions, expect EPS)	2025	2024	% Change
Reported Sales	$21,893	$ 21,383	2.4%
Net Earnings	$10,999	$3,255	237.9%
EPS (diluted)	$4.54	$1.34	238.8%

	Q1
*Non-GAAP ($ in Millions, except EPS)**	2025	2024	% Change
Operational Sales^1,2			4.2%
Adjusted Operational Sales^1,3			3.3%
Adjusted Net Earnings^1,4	$6,706	$6,580	1.9%
Adjusted EPS (diluted)^1,4	$2.77	$2.71	2.2%
Free Cash Flow^6,7	~$3,400	$2,850

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		Excludes COVID-19 Vaccine
⁶		Non-GAAP 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.
⁷		First-quarter 2025 is estimated as of April 15, 2025
Note: values may have been rounded

Regional sales results

Q1				% Change
($ in Millions)	2025	2024	Reported	Operational^1,2	Currency	Adjusted Operational^1,3
U.S.	$12,305	$11,620	5.9%	5.9	-	4.4
International	9,588	9,763	(1.8)	2.1	(3.9)	1.9
Worldwide	$21,893	$21,383	2.4%	4.2	(1.8)	3.3

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

Q1				% Change
($ in Millions)	2025	2024	Reported	Operational^1,2	Currency	Adjusted Operational^1,3
Innovative Medicine	$13,873	$13,562	2.3%	4.2	(1.9)	4.4
MedTech	8,020	7,821	2.5	4.1	(1.6)	1.3
Worldwide	$21,893	$21,383	2.4%	4.2	(1.8)	3.3

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

First-Quarter 2025 segment commentary:

Operational sales* reflected below excludes the impact of translational currency.

Innovative Medicine

Innovative Medicine worldwide operational sales grew 4.2%* driven primarily by DARZALEX, CARVYKTI, ERLEADA, and RYBREVANT/LAZCLUZE in Oncology, TREMFYA and SIMPONI/SIMPONI ARIA in Immunology, SPRAVATO in Neuroscience, and XARELTO in Cardiovascular/Metabolism/Other. Growth was partially offset by an approximate (810) basis points impact from STELARA in Immunology.

MedTech

MedTech worldwide operational sales grew 4.1%*, with net acquisitions and divestitures positively impacting growth by 2.8%. Growth was driven primarily by Abiomed in Cardiovascular and wound closure products in General Surgery. Growth was partially offset by Spine, Sports & Other in Orthopaedics.

Full-year 2025 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)

April 2025

January 2025

Adjusted Operational Sales^1,2,5

Johnson & Johnson Reports Q1 2025 Results