CLAIM #33834 · Johnson & Johnson (JNJ) · 2024Q1 earnings call · Apr 16, 2024 · due Dec 31, 2024
“But all in all, a strong quarter Larry, and we remain very committed to strong high single-digit growth for the remainder of the year for 2024.”
Timothy Schmid · Segment CEO
In context
“as been some noise specifically in relation to our Vision business. But please rest assured, we are extremely confident in the underlying health of our Vision portfolio. This is a business that grew 6.6% last year, and we expect it to grow in high single-digit performance this year. There has been some stocking issues related to distributor inventory, which was the predominant driver of the performance you see this year. But once again, very confident that we'll see that return to strong single-digit performance for the remainder of the year. There have been a couple of one-timers both in terms of selling days, as we mentioned earlier, about 80 bps of selling days and then a revenue recognition change within our orthopedics business, which impacted that business by about 300 basis points. But all in all, a strong quarter Larry, and we remain very committed to strong high single-digit growth for the remainder of the year for 2024. Thank you. Joseph J. Wolk: Larry, I just want to maybe add on to Tim's good comments there. The one timers, there was tailwinds and headwinds in that number. So the 6.3% that you're seeing is 6.5% is pretty much a true number when you consider both sides of the equation. Operator: Thank you. Our next question is coming from Chris Schott from J.P. Morgan. Your line is now live. Christopher Schott: Great, thanks so much for the question. I think BD type question here. I guess following the Shockwave acquisition, what's the appetite, I guess, for further away, maybe talk about like larger tuck-in type transactions either in your MedTech or Pharma business. It just seems like the portfolio and the pipeline at J&J has evolved pretty nicely over the past few years and I'm interested if you thin”
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SEC filings for JNJ ↗ · Claim quote is verbatim from the 2024Q1 earnings call.