Johnson & Johnson (JNJ) Stock Rises After Q1 2026 Earnings Beat

TLDR

• J&J posted Q1 adjusted EPS of $2.70, beating the $2.68 analyst estimate, with total sales of $24.1 billion vs. the $23.6 billion expected.
• Pharmaceutical sales rose 11.2% year-over-year to $15.4 billion, driven by Darzalex ($4.0B) and Tremfya ($1.6B).
• The company raised full-year 2026 sales guidance to $100.8 billion and adjusted EPS guidance to $11.55.
• J&J’s FDA-approved psoriasis pill Icotyde could reach peak sales of ~$10 billion, per Truist Securities.
• JNJ stock is up 15% year-to-date in 2026, compared to a 0.6-1% gain for the S&P 500.

Johnson & Johnson reported first-quarter 2026 results before the bell on Tuesday, posting sales and earnings above what Wall Street had expected.

Total sales came in at $24.1 billion, up 10% from the same period last year and ahead of the $23.6 billion analyst estimate compiled by FactSet. Adjusted earnings per share hit $2.70, just above the $2.68 consensus.

The stock gained roughly 1.2% in premarket trading following the report.

Johnson & Johnson, JNJ

The quarter continued a busy stretch for J&J. In recent years the company has moved away from consumer health products — spinning off the Kenvue unit, which is now being acquired by Kimberly-Clark — to concentrate on pharmaceuticals and medical devices.

Pharmaceutical sales were the highlight, rising 11.2% year-over-year to $15.4 billion. That beat the FactSet estimate of $15.2 billion.

Darzalex, J&J’s top-selling multiple myeloma drug, brought in $4.0 billion in revenue for the quarter, up from $3.2 billion a year earlier. The FactSet estimate was $3.9 billion.

Tremfya, an IL-23 inhibitor used to treat autoimmune conditions, posted $1.6 billion in sales, up sharply from $956 million a year ago and well ahead of the $1.4 billion estimate.

Immunology in Focus

The FDA approved Tremfya’s subcutaneous form last September for patients with ulcerative colitis and Crohn’s disease, making it the first drug of its kind that patients can self-administer at home. That puts it at an advantage over AbbVie’s Skyrizi, which requires a clinic visit for initial infusions.

Last month, J&J also received FDA approval for Icotyde, a new oral IL-23 inhibitor pill for plaque psoriasis, developed through a 2017 licensing deal with Protagonist Therapeutics. Truist Securities analyst Srikripa Devarakonda estimates Icotyde could reach peak sales of around $10 billion. J&J has not disclosed any sales figures yet.

The medical devices division posted $8.6 billion in sales, in line with estimates.

Net income came in at $5.2 billion, below the FactSet estimate of $6.5 billion — the second consecutive quarter where net profit missed expectations.

Guidance and Legal Overhang

For the full year, J&J now expects sales of $100.8 billion, up from a prior estimate of $100.5 billion. Adjusted EPS guidance was raised to $11.55 from $11.03. Analysts had been looking for $11.54 per share and $100.6 billion in sales.

The company is still carrying a substantial legal burden. At the end of Q4 2025, J&J faced 74,360 lawsuits tied to claims it knowingly sold talcum powder contaminated with cancer-causing asbestos. Its most recent attempt to resolve the cases through a bankruptcy filing by subsidiary Red River Talc was struck down in Texas court, allowing individual lawsuits to proceed.

J&J has maintained its baby powder product, now sold under the Kenvue brand, is safe and asbestos-free.

Of 29 analyst firms tracked by FactSet, 17 rate JNJ a Buy or equivalent. Two rate it a Sell.

JNJ stock is up 15% year-to-date in 2026, compared to a gain of around 0.6% to 1% for the S&P 500 over the same period.

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