Johnson & Johnson Revises FY23 Adjusted EPS Guidance To $10.70-$10.80 Vs. Prior Guidance Of $10.60-$10.70 And Consensus Of $10.65; It Sees FY23 Sales Of $99.3B – $100.3B Vs. Prior Guidance Of $97.9B-$98.9B And Consensus Of $98.96B
Portfolio Pulse from Benzinga Newsdesk
Johnson & Johnson has revised its FY23 adjusted EPS guidance to $10.70-$10.80, up from the previous guidance of $10.60-$10.70. The company also increased its FY23 sales forecast to $99.3B-$100.3B, up from $97.9B-$98.9B. Both revisions are above the consensus estimates.
July 20, 2023 | 10:26 am
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POSITIVE IMPACT
Johnson & Johnson's upward revision of its FY23 EPS and sales guidance, both above consensus estimates, may positively impact its stock price in the short term.
Companies often see their stock prices increase when they raise their earnings or sales guidance, especially when the new guidance is above consensus estimates. This is because it signals to investors that the company is performing better than expected, which can increase demand for the stock and drive up its price.
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