Johnson & Johnson reports Q3 2026 results, raises 2026 guidance

View all news 10/13/2026 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 $11.10 or 2.9% at the midpoint Significant innovation including the market authorization of OTTAVA as the world’s first table-integrated soft tissue robotic system, approval of IMAAVY in warm autoimmune hemolytic anemia (wAIHA), and priority review for RYBREVANT FASPRO for advanced head and neck cancer Johnson & Johnson (NYSE: JNJ) today announced results for third-quarter 2026. “Johnson & Johnson’s strong third-quarter performance and increased sequential growth reflect the accelerating momentum of our focused portfolio,” said Joaquin Duato, Chairman and Chief Executive Officer. “In the third quarter, we advanced breakthroughs that will redefine care for patients, from delivering one of our most transformative MedTech innovations with OTTAVA to reporting positive Phase 3 results in multiple myeloma. This progress, together with strategic investments in high-growth areas, gives us clearer line of sight to double-digit growth by the end of the decade.” Overall financial results Q3 ($ 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 Sales1,2 6.0% Adjusted Operational Sales1,3 6.1% Adjusted Net Earnings1,4 $6,339 $6,801 (6.8)% Adjusted EPS (diluted)1,4 $2.59 $2.80 (7.5)% Free Cash Flow5,6 ~$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 Operational1,2 Currency Adjusted Operational1,3 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 Operational1,2 Currency Adjusted Operational1,3 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 Sales1,2 Change vs. Prior Year / Mid-point 6.4% – 6.8% / 6.6% 6.2% – 6.8% / 6.5% Operational Sales2 / 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 Sales3/ 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 www.sec.gov, www.jnj.com 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 www.factsabouttalc.com. Regulatory Johnson & Johnson Receives CE Marking for ACUVUE OASYS MAX Reusable Contact Lenses1 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 psoriasis1 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 therapy1 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 Menopause1 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 www.jnj.com. 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 www.sec.gov, www.jnj.com, 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 SubsidiariesSupplementary Sales Data(Unaudited; Dollars in Millions)THIRD QUARTERNINE MONTHS Percent Change Percent Change 2026 2025 Total Operations Currency 2026 2025 Total Operations Currency Sales to customers bysegment of businessInnovative MedicineU.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 MedTechU.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 SubsidiariesSupplementary 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 bygeographic areaU.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 SubsidiariesCondensed 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 SubsidiariesCondensed 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 SubsidiariesReconciliation of Non-GAAP Financial MeasuresThird QuarterNine 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 AdjustmentsLitigation related 5,519 15 6,116 (6,894 ) Intangible Asset Amortization expense 1,240 1,048 3,732 3,435 Restructuring related1 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 AdjustmentsTax impact on special item adjustments2 (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 $1 billion. 2 The tax impact related to special item adjustments reflects the current and deferred income taxes associated with the above pre-tax special items in arriving at adjusted earnings. Johnson & Johnson and SubsidiariesReconciliation of Non-GAAP Financial MeasureAdjusted Operational Sales GrowthTHIRD QUARTER 2026 ACTUAL vs. 2025 ACTUALSegmentsInnovative MedicineMedTechTotalWW As Reported 7.7% 2.5% 5.9% U.S. 11.1% 4.8% 9.1% International 2.4% 0.1% 1.5% WW Currency (0.2) 0.0 (0.1) U.S. - - - International (0.6) 0.0 (0.3) WW Operational 7.9% 2.5% 6.0% U.S. 11.1% 4.8% 9.1% International 3.0% 0.1% 1.8% All Other Acquisitions and Divestitures (A&D) 0.1 0.0 0.1 U.S. 0.0 0.0 0.0 International 0.2 0.0 0.1 WW Adjusted Operational Ex A&D 8.0% 2.5% 6.1% U.S. 11.1% 4.8% 9.1% International 3.2% 0.1% 1.9% Note:Percentages are based on actual, non-rounded figures and may not sumJohnson & Johnson and SubsidiariesReconciliation of Non-GAAP Financial MeasureAdjusted Operational Sales GrowthNINE MONTHS 2026 ACTUAL vs. 2025 ACTUALSegments Innovative Medicine MedTech Total WW As Reported 8.8% 4.9% 7.4% U.S. 9.9% 4.8% 8.3% International 7.2% 4.9% 6.2% WW Currency 1.4 1.4 1.4 U.S. - - - International 3.6 2.7 3.2 WW Operational 7.4% 3.5% 6.0% U.S. 9.9% 4.8% 8.3% International 3.6% 2.2% 3.0% Caplyta (0.6) (0.4) U.S. (1.0) (0.7) International 0.0 0.0 All Other Acquisitions and Divestitures (A&D) 0.1 0.1 0.1 U.S. 0.0 0.1 0.0 International 0.2 0.0 0.1 WW Adjusted Operational Ex A&D 6.9% 3.6% 5.7% U.S. 8.9% 4.9% 7.6% International 3.8% 2.2% 3.1% Note: Percentages are based on actual, non-rounded figures and may not sumREPORTED SALES vs. PRIOR PERIOD ($MM)REPORTED SALES vs. PRIOR PERIOD ($MM)THIRD QUARTERNINE MONTHS% Change% ChangeINNOVATIVE MEDICINE SEGMENT (2) 2026 2025 Reported Operational (1) Currency 2026 2025 Reported Operational (1) Currency ONCOLOGYUS $ 4,267 3,468 23.0% 23.0% - $ 11,951 9,866 21.1% 21.1% - Intl 3,335 3,060 9.0% 9.5% (0.5)% 10,030 8,652 15.9% 11.9% 4.0% WW 7,602 6,529 16.4% 16.7% (0.3)% 21,981 18,519 18.7% 16.8% 1.9% DARZALEXUS 2,528 2,088 21.1% 21.1% - 7,171 5,934 20.9% 20.9% - Intl 1,711 1,584 8.0% 8.5% (0.5)% 5,239 4,514 16.1% 11.9% 4.2% WW 4,239 3,672 15.4% 15.6% (0.2)% 12,410 10,448 18.8% 17.0% 1.8% CARVYKTIUS 472 396 19.4% 19.4% - 1,377 1,072 28.5% 28.5% - Intl 238 128 85.3% 84.1% 1.2% 587 260 ***WW 710 524 35.5% 35.2% 0.3% 1,964 1,332 47.4% 45.5% 1.9% TECVAYLIUS 236 115 ** - 549 334 64.4% 64.4% - Intl 77 62 24.0% 25.9% (1.9)% 225 160 40.6% 37.7% 2.9% WW 312 177 76.6% 77.3% (0.7)% 774 494 56.7% 55.7% 1.0% TALVEYUS 112 85 31.6% 31.6% - 325 235 38.1% 38.1% - Intl 59 37 62.9% 66.9% (4.0)% 172 79 ***WW 171 122 40.9% 42.1% (1.2)% 497 314 58.3% 57.5% 0.8% RYBREVANT / LAZCLUZEUS 201 136 47.9% 47.9% - 566 388 46.1% 46.1% - Intl 119 61 94.5% 98.3% (3.8)% 300 130 ***WW 320 198 62.3% 63.5% (1.2)% 866 518 67.4% 67.5% (0.1)% ERLEADAUS 423 378 11.8% 11.8% - 1,161 1,048 10.8% 10.8% - Intl 600 558 7.7% 7.7% 0.0% 1,806 1,567 15.3% 10.8% 4.5% WW 1,023 936 9.4% 9.4% 0.0% 2,967 2,615 13.5% 10.8% 2.7% IMBRUVICAUS 145 211 (31.6)% (31.6)% - 437 685 (36.3)% (36.3)% - Intl 420 483 (13.2)% (12.6)% (0.6)% 1,386 1,453 (4.7)% (8.7)% 4.0% WW 563 695 (18.8)% (18.4)% (0.4)% 1,822 2,139 (14.8)% (17.5)% 2.7% OTHER ONCOLOGY (3)US 149 61 ** - 365 171 ** - Intl 111 147 (24.4)% (23.9)% (0.5)% 314 488 (35.7)% (36.0)% 0.3% WW 262 207 26.3% 26.7% (0.4)% 680 659 3.2% 2.9% 0.3% See footnotes at end of scheduleREPORTED SALES vs. PRIOR PERIOD ($MM)REPORTED SALES vs. PRIOR PERIOD ($MM)THIRD QUARTERNINE MONTHS % Change % Change 2026 2025 Reported Operational (1) Currency 2026 2025 Reported Operational (1) Currency IMMUNOLOGYUS $ 2,804 2,676 4.8% 4.8% - $ 7,031 7,377 (4.7)% (4.7)% - Intl 1,417 1,493 (5.1)% (4.8)% (0.3)% 4,414 4,492 (1.7)% (4.9)% 3.2% WW 4,221 4,168 1.3% 1.4% (0.1)% 11,445 11,868 (3.6)% (4.8)% 1.2% TREMFYAUS 1,772 989 79.1% 79.1% - 4,279 2,384 79.5% 79.5% - Intl 624 434 43.7% 43.4% 0.3% 1,771 1,181 49.9% 44.7% 5.2% WW 2,396 1,424 68.3% 68.2% 0.1% 6,050 3,566 69.7% 67.9% 1.8% SIMPONI / SIMPONI ARIAUS 269 309 (13.2)% (13.2)% - 798 906 (11.9)% (11.9)% - Intl 299 377 (20.6)% (20.3)% (0.3)% 1,035 1,130 (8.4)% (11.4)% 3.0% WW 568 687 (17.3)% (17.1)% (0.2)% 1,833 2,036 (10.0)% (11.6)% 1.6% REMICADEUS 258 326 (20.8)% (20.8)% - 742 923 (19.6)% (19.6)% - US Exports (4) 12 19 (37.1)% (37.1)% - 40 63 (36.6)% (36.6)% - Intl 124 132 (6.2)% (7.5)% 1.3% 372 413 (9.8)% (12.9)% 3.1% WW 394 476 (17.3)% (17.6)% 0.3% 1,154 1,398 (17.5)% (18.4)% 0.9% STELARAUS 368 1,022 (64.0)% (64.0)% - 924 3,081 (70.0)% (70.0)% - Intl 349 549 (36.5)% (35.5)% (1.0)% 1,188 1,768 (32.8)% (34.9)% 2.1% WW 716 1,570 (54.4)% (54.0)% (0.4)% 2,112 4,848 (56.4)% (57.2)% 0.8% OTHER IMMUNOLOGYUS 126 12 ** - 249 21 ** - Intl 21 0 *** 48 0 ***WW 147 12 *** 297 21 ***NEUROSCIENCEUS 1,733 1,367 26.8% 26.8% - 4,886 3,712 31.6% 31.6% - Intl 642 658 (2.4)% (1.7)% (0.7)% 2,001 2,011 (0.5)% (3.0)% 2.5% WW 2,375 2,024 17.3% 17.6% (0.3)% 6,887 5,722 20.3% 19.5% 0.8% SPRAVATOUS 559 405 37.9% 37.9% - 1,479 1,047 41.3% 41.3% - Intl 66 53 22.7% 21.4% 1.3% 197 146 34.8% 28.1% 6.7% WW 624 459 36.1% 36.0% 0.1% 1,676 1,193 40.5% 39.7% 0.8% CAPLYTA (5)US 398 240 66.1% 66.1% - 1,029 451 ** - Intl - - - - - - - - - - WW 398 240 66.1% 66.1% - 1,029 451 ** - INVEGA SUSTENNA / XEPLION / INVEGA TRINZA / TREVICTAUS 739 664 11.4% 11.4% - 2,235 2,021 10.6% 10.6% - Intl 258 267 (3.0)% (2.4)% (0.6)% 816 804 1.5% (0.8)% 2.3% WW 998 929 7.3% 7.5% (0.2)% 3,051 2,824 8.0% 7.4% 0.6% CONCERTA / MethylphenidateUS 6 14 (56.3)% (56.3)% - 40 76 (47.3)% (47.3)% - Intl 138 127 8.1% 8.9% (0.8)% 386 376 2.4% 1.1% 1.3% WW 143 140 2.1% 2.9% (0.8)% 425 452 (5.9)% (7.0)% 1.1% OTHER NEUROSCIENCEUS 32 46 (30.6)% (30.6)% - 104 119 (12.6)% (12.6)% - Intl 180 210 (14.3)% (13.1)% (1.2)% 602 684 (12.0)% (14.5)% 2.5% WW 212 256 (17.3)% (16.2)% (1.1)% 706 803 (12.1)% (14.2)% 2.1% See footnotes at end of scheduleREPORTED SALES vs. PRIOR PERIOD ($MM)REPORTED SALES vs. PRIOR PERIOD ($MM)THIRD QUARTERNINE MONTHS% Change% Change 2026 2025 ReportedOperational (1)Currency 2026 2025 Reported Operational (1)CurrencyPULMONARY HYPERTENSION (PH)US $ 588 815 (27.8)% (27.8)% - $ 2,233 2,358 (5.3)% (5.3)% - Intl 309 300 2.9% 4.1% (1.2)% 942 895 5.2% 2.9% 2.3% WW 897 1,115 (19.5)% (19.2)% (0.3)% 3,175 3,253 (2.4)% (3.0)% 0.6% UPTRAVIUS 383 392 (2.2)% (2.2)% - 1,154 1,139 1.3% 1.3% - Intl 100 92 8.9% 8.4% 0.5% 306 272 12.7% 7.9% 4.8% WW 483 484 (0.1)% (0.2)% 0.1% 1,460 1,411 3.5% 2.6% 0.9% OPSUMIT / OPSYNVIUS 193 409 (52.8)% (52.8)% - 1,042 1,175 (11.3)% (11.3)% - Intl 179 168 5.9% 7.8% (1.9)% 538 507 6.0% 4.4% 1.6% WW 372 578 (35.7)% (35.2)% (0.5)% 1,580 1,682 (6.1)% (6.6)% 0.5% OTHER PULMONARY HYPERTENSIONUS 12 13 (7.3)% (7.3)% - 37 44 (15.5)% (15.5)% - Intl 30 39 (23.8)% (21.2)% (2.6)% 98 116 (15.6)% (15.3)% (0.3)% WW 42 53 (19.7)% (17.7)% (2.0)% 135 160 (15.6)% (15.4)% (0.2)% INFECTIOUS DISEASES (ID)US 317 326 (2.7)% (2.7)% - 959 961 (0.2)% (0.2)% - Intl 496 501 (1.2)% (0.1)% (1.1)% 1,506 1,472 2.3% (1.7)% 4.0% WW 813 829 (1.8)% (1.1)% (0.7)% 2,465 2,434 1.3% (1.1)% 2.4% EDURANT / rilpivirineUS 5 7 (31.6)% (31.6)% - 15 21 (30.1)% (30.1)% - Intl 382 378 1.0% 2.4% (1.4)% 1,131 1,082 4.5% 0.6% 3.9% WW 386 385 0.4% 1.8% (1.4)% 1,145 1,103 3.8% 0.0% 3.8% PREZISTA / PREZCOBIX / REZOLSTA / SYMTUZAUS 307 315 (2.5)% (2.5)% - 937 932 0.6% 0.6% - Intl 74 81 (8.9)% (7.7)% (1.2)% 259 264 (1.9)% (6.2)% 4.3% WW 381 397 (3.8)% (3.6)% (0.2)% 1,196 1,196 0.0% (0.9)% 0.9% OTHER INFECTIOUS DISEASESUS 5 4 29.9% 29.9% - 7 8 (11.4)% (11.4)% - Intl 40 42 (6.2)% (7.9)% 1.7% 116 126 (8.0)% (11.7)% 3.7% WW 46 47 (3.0)% (4.5)% 1.5% 124 135 (8.2)% (11.7)% 3.5% CARDIOVASCULAR / METABOLISM / OTHER (CVM)US 736 750 (1.9)% (1.9)% - 2,235 2,381 (6.1)% (6.1)% - Intl 112 149 (24.3)% (23.8)% (0.5)% 378 461 (17.9)% (20.9)% 3.0% WW 849 899 (5.6)% (5.5)% (0.1)% 2,614 2,842 (8.0)% (8.5)% 0.5% XARELTOUS 653 635 2.7% 2.7% - 1,959 1,946 0.7% 0.7% - Intl - - - - - - - - - - WW 653 635 2.7% 2.7% - 1,959 1,946 0.7% 0.7% - OTHERUS 84 115 (27.2)% (27.2)% - 276 435 (36.5)% (36.5)% - Intl 112 149 (24.3)% (23.8)% (0.5)% 378 461 (17.9)% (20.9)% 3.0% WW 197 264 (25.5)% (25.3)% (0.2)% 655 896 (26.9)% (28.5)% 1.6% TOTAL PH, ID, CVMUS 1,643 1,891 (13.2)% (13.2)% - 5,428 5,700 (4.8)% (4.8)% - Intl 917 950 (3.5)% (2.5)% (1.0)% 2,826 2,828 (0.1)% (3.4)% 3.3% WW 2,560 2,843 (9.9)% (9.6)% (0.3)% 8,254 8,529 (3.2)% (4.3)% 1.1% TOTAL INNOVATIVE MEDICINEUS 10,447 9,402 11.1% 11.1% - 29,297 26,655 9.9% 9.9% - Intl 6,310 6,161 2.4% 3.0% (0.6)% 19,270 17,983 7.2% 3.6% 3.6% WW $ 16,757 15,563 7.7% 7.9% (0.2)% $ 48,567 44,638 8.8% 7.4% 1.4% See footnotes at end of scheduleREPORTED SALES vs. PRIOR PERIOD ($MM)REPORTED SALES vs. PRIOR PERIOD ($MM)THIRD QUARTERNINE MONTHS% Change% ChangeMEDTECH SEGMENT (2) 2026 2025 Reported Operational (1) Currency 2026 2025 Reported Operational (1) Currency CARDIOVASCULARUS $ 1,397 1,306 7.0% 7.0% - $ 4,222 3,931 7.4% 7.4% - Intl 910 908 0.2% (0.2)% 0.4% 2,866 2,698 6.2% 3.4% 2.8% WW 2,307 2,213 4.3% 4.1% 0.2% 7,088 6,629 6.9% 5.8% 1.1% ELECTROPHYSIOLOGYUS 771 720 7.0% 7.0% - 2,290 2,145 6.8% 6.8% - Intl 717 698 2.8% 1.8% 1.0% 2,219 2,064 7.5% 4.3% 3.2% WW 1,487 1,418 4.9% 4.4% 0.5% 4,509 4,209 7.1% 5.6% 1.5% ABIOMEDUS 335 336 (0.3)% (0.3)% - 1,066 1,035 3.0% 3.0% - Intl 78 86 (10.4)% (6.5)% (3.9)% 275 256 7.2% 5.4% 1.8% WW 412 423 (2.3)% (1.5)% (0.8)% 1,340 1,291 3.8% 3.5% 0.3% SHOCKWAVEUS 261 220 18.8% 18.8% - 771 659 17.0% 17.0% - Intl 64 59 9.3% 11.2% (1.9)% 194 169 14.8% 15.1% (0.3)% WW 325 278 16.8% 17.2% (0.4)% 965 828 16.6% 16.6% 0.0% OTHER CARDIOVASCULARUS 31 30 3.6% 3.6% - 96 93 3.2% 3.2% - Intl 50 65 (21.9)% (23.1)% 1.2% 177 209 (15.0)% (17.7)% 2.7% WW 81 95 (13.9)% (14.7)% 0.8% 273 302 (9.4)% (11.3)% 1.9% SURGERYUS 1,070 1,031 3.7% 3.7% - 3,210 3,076 4.3% 4.3% - Intl 1,459 1,511 (3.4)% (4.2)% 0.8% 4,483 4,417 1.5% (1.6)% 3.1% WW 2,528 2,542 (0.6)% (1.0)% 0.4% 7,692 7,493 2.7% 0.8% 1.9% ADVANCEDUS 500 477 5.1% 5.1% - 1,476 1,411 4.7% 4.7% - Intl 654 688 (5.0)% (5.7)% 0.7% 1,991 1,991 0.0% (2.9)% 2.9% WW 1,155 1,165 (0.9)% (1.3)% 0.4% 3,467 3,402 1.9% 0.2% 1.7% GENERALUS 568 555 2.4% 2.4% - 1,733 1,666 4.0% 4.0% - Intl 805 823 (2.2)% (3.0)% 0.8% 2,492 2,426 2.7% (0.6)% 3.3% WW 1,373 1,378 (0.3)% (0.8)% 0.5% 4,225 4,092 3.3% 1.3% 2.0% See footnotes at end of scheduleREPORTED SALES vs. PRIOR PERIOD ($MM)REPORTED SALES vs. PRIOR PERIOD ($MM)THIRD QUARTERNINE MONTHS % Change % Change 2026 2025 Reported Operational (1) Currency 2026 2025 Reported Operational (1) Currency VISIONUS $ 596 571 4.3% 4.3% - $ 1,740 1,694 2.7% 2.7% - Intl 865 828 4.4% 5.6% (1.2)% 2,537 2,354 7.8% 6.3% 1.5% WW 1,461 1,400 4.4% 5.1% (0.7)% 4,277 4,048 5.6% 4.8% 0.8% CONTACT LENSES / OTHERUS 465 456 1.9% 1.9% - 1,378 1,337 3.1% 3.1% - Intl 588 562 4.7% 6.2% (1.5)% 1,669 1,565 6.6% 5.5% 1.1% WW 1,053 1,018 3.5% 4.3% (0.8)% 3,047 2,902 5.0% 4.4% 0.6% SURGICALUS 132 116 13.6% 13.6% - 363 358 1.4% 1.4% - Intl 276 266 3.8% 4.3% (0.5)% 867 789 10.0% 8.0% 2.0% WW 408 383 6.8% 7.1% (0.3)% 1,230 1,147 7.3% 5.9% 1.4% ORTHOPAEDICSUS 1,448 1,396 3.8% 3.8% - 4,353 4,200 3.6% 3.6% - Intl 898 878 2.2% 2.9% (0.7)% 2,794 2,620 6.6% 3.5% 3.1% WW 2,345 2,274 3.2% 3.4% (0.2)% 7,146 6,820 4.8% 3.6% 1.2% HIPSUS 271 262 3.5% 3.5% - 831 796 4.4% 4.4% - Intl 148 144 2.6% 3.0% (0.4)% 465 440 5.7% 2.1% 3.6% WW 419 405 3.1% 3.3% (0.2)% 1,296 1,235 4.9% 3.6% 1.3% KNEESUS 221 216 2.1% 2.1% - 688 673 2.2% 2.2% - Intl 165 160 3.0% 4.4% (1.4)% 528 482 9.7% 7.1% 2.6% WW 386 377 2.5% 3.1% (0.6)% 1,216 1,155 5.3% 4.2% 1.1% TRAUMAUS 555 512 8.6% 8.6% - 1,623 1,515 7.1% 7.1% - Intl 288 281 2.4% 2.8% (0.4)% 880 818 7.6% 4.4% 3.2% WW 844 793 6.4% 6.5% (0.1)% 2,504 2,333 7.3% 6.2% 1.1% SPINE, SPORTS & OTHERUS 401 406 (1.2)% (1.2)% - 1,211 1,216 (0.4)% (0.4)% - Intl 296 293 1.3% 2.0% (0.7)% 920 881 4.5% 1.5% 3.0% WW 697 698 (0.1)% 0.1% (0.2)% 2,131 2,096 1.7% 0.4% 1.3% TOTAL MEDTECHUS 4,512 4,306 4.8% 4.8% - 13,525 12,902 4.8% 4.8% - Intl 4,130 4,124 0.1% 0.1% 0.0% 12,679 12,089 4.9% 2.2% 2.7% WW $ 8,642 8,430 2.5% 2.5% 0.0% $ 26,204 24,991 4.9% 3.5% 1.4% Note: Columns and rows within tables may not add due to rounding. Percentages have been calculated using actual, non-rounded figures and, therefore, may not recalculate precisely* Percentage greater than 100% or not meaningful(1) Operational growth excludes the effect of translational currency(2) Unaudited(3) Includes the sales of ZYTIGA which were previously disclosed separately(4) Reported as U.S. sales(5) Acquired with Intra-Cellular Therapies on April 2, 2025Johnson & Johnson and SubsidiariesGAAP to Non-GAAP Reconciliation$ in MillionsQuarter to DateInnovative MedicineThird Quarter September 27, 2026 GAAPIntangible asset amortizationLitigation relatedIn-process research and development impairmentsRestructuring relatedAcquisition, integration and divestiture related(Loss)/gain on securitiesOrthopaedics Separation RelatedTax legislation and other tax relatedThird Quarter September 27, 2026 Non-GAAPCost of products sold $ 4,486 (762 ) 18 (2 ) 3,740 Selling, marketing and admin expenses 3,035 3,035 Research and development expense 3,888 3,888 Other segment items 282 24 (92 ) (53 ) 4 165 Adjusted Income Before Tax by Segment 5,066 762 (24 ) - 74 55 (4 ) - - 5,929 MedTechThird Quarter September 27, 2026 GAAPIntangible asset amortizationLitigation relatedIn-process research and development impairmentsRestructuring relatedAcquisition, integration and divestiture related(Loss)/gain on securitiesOrthopaedics Separation RelatedTax legislation and other tax relatedThird Quarter September 27, 2026 Non-GAAPCost of products sold $ 3,597 (478 ) (13 ) (6 ) 3,100 Selling, marketing and admin expenses 3,014 (38 ) 2,976 Research and development expense 764 (5 ) 759 Other segment items 491 22 (339 ) (108 ) 95 (14 ) (320 ) (173 ) Adjusted Income Before Tax by Segment 776 478 (22 ) 339 121 (95 ) 14 369 - 1,980 Expenses not allocated to segmentsThird Quarter September 27, 2026 GAAPIntangible asset amortizationLitigation relatedIn-process research and development impairmentsRestructuring relatedAcquisition, integration and divestiture related(Loss)/gain on securitiesOrthopaedics Separation RelatedTax legislation and other tax relatedThird Quarter September 27, 2026 Non-GAAPCost of products sold $ 14 14 Selling, marketing and admin expenses 236 236 Research and development expense - - Other segment items 5,558 (5,565 ) (6 ) (13 ) Adjusted Income Before Tax by Segment (5,808 ) - 5,565 - - 6 - - - (237 ) Johnson & Johnson ConsolidatedThird Quarter September 27, 2026 GAAPIntangible asset amortizationLitigation relatedIn-process research and development impairmentsRestructuring relatedAcquisition, integration and divestiture related(Loss)/gain on securitiesOrthopaedics Separation RelatedTax legislation and other tax relatedThird Quarter September 27, 2026 Non-GAAPCost of products sold $ 8,097 (1,240 ) 5 (2 ) (6 ) 6,854 Selling, marketing and admin expenses 6,285 (38 ) 6,247 Research and development expense 4,652 (5 ) 4,647 Other (Income) / Expense 5,780 (5,519 ) (19 ) 36 (10 ) (320 ) (52 ) In-process research and development impairments 339 (339 ) - Interest (Income)/Expense 31 31 Restructuring 181 (181 ) - Adjusted Income Before Tax 34 1,240 5,519 339 195 (34 ) 10 369 - 7,672 (Benefit from)/Provision for taxes on income (176 ) 239 1,230 85 37 18 - 68 (168 ) 1,333 Net Earnings 210 1,001 4,289 254 158 (52 ) 10 301 168 6,339 Johnson & Johnson and SubsidiariesGAAP to Non-GAAP Reconciliation$ in MillionsQuarter to DateInnovative MedicineThird Quarter Sept 28, 2025 GAAPIntangible asset amortizationLitigation relatedRestructuring relatedAcquisition, integration and divestiture related(Loss)/gain on securitiesTax legislation and other tax relatedOtherThird Quarter Sept 28, 2025 Non-GAAPCost of products sold $ 3,672 (568 ) (11 ) 3,093 Selling, marketing and admin expenses 2,869 2,869 Research and development expense 2,944 2,944 Other segment items (368 ) 5 (48 ) 174 (1 ) (238 ) Adjusted Income Before Tax by Segment 6,446 568 (5 ) - 59 (174 ) - 1 6,895 MedTechThird Quarter Sept 28, 2025 GAAPIntangible asset amortizationLitigation relatedRestructuring relatedAcquisition, integration and divestiture related(Loss)/gain on securitiesTax legislation and other tax relatedOtherThird Quarter Sept 28, 2025 Non-GAAPCost of products sold $ 3,612 (480 ) (12 ) (1 ) 3,119 Selling, marketing and admin expenses 2,801 2,801 Research and development expense 728 728 Other segment items 2 5 (156 ) (48 ) 213 (1 ) 15 Adjusted Income Before Tax by Segment 1,287 480 (5 ) 168 49 (213 ) - 1 1,767 Expenses not allocated to segmentsThird Quarter Sept 28, 2025 GAAPIntangible asset amortizationLitigation relatedRestructuring relatedAcquisition, integration and divestiture related(Loss)/gain on securitiesTax legislation and other tax relatedOtherThird Quarter Sept 28, 2025 Non-GAAPCost of products sold $ 19 19 Selling, marketing and admin expenses 252 252 Research and development expense - - Other segment items (31 ) (25 ) 11 (45 ) Adjusted Income Before Tax by Segment (240 ) - 25 - (11 ) - - - (226 ) Johnson & Johnson ConsolidatedThird Quarter Sept 28, 2025 GAAPIntangible asset amortizationLitigation relatedRestructuring relatedAcquisition, integration and divestiture related(Loss)/gain on securitiesTax legislation and other tax relatedOtherThird Quarter Sept 28, 2025 Non-GAAPCost of products sold $ 7,303 (1,048 ) (12 ) (12 ) 6,231 Selling, marketing and admin expenses 5,922 5,922 Research and development expense 3,672 3,672 Other (Income) / Expense (478 ) (15 ) (93 ) (85 ) 387 (2 ) (286 ) In-process research and development impairments - - Interest (Income)/Expense 18 18 Restructuring 63 (63 ) - Adjusted Income Before Tax 7,493 1,048 15 168 97 (387 ) - 2 8,436 Provision for taxes on income 2,341 193 3 34 16 (87 ) (874 ) 9 1,635 Net Earnings 5,152 855 12 134 81 (300 ) 874 (7 ) 6,801 Johnson & Johnson and SubsidiariesGAAP to Non-GAAP Reconciliation$ in MillionsYear to DateInnovative MedicineNine Months September 27, 2026 GAAPIntangible asset amortizationLitigation relatedIn-process research and development impairmentsRestructuring relatedAcquisition, integration and divestiture related(Loss)/gain on securitiesOrthopaedics Separation RelatedTax legislation and other tax relatedNine Months September 27, 2026 Non-GAAPCost of products sold $ 13,172 (2,289 ) (21 ) 10,862 Selling, marketing and admin expenses 9,083 9,083 Research and development expense 9,576 9,576 Other segment items 104 75 (274 ) (153 ) 286 38 Adjusted Income Before Tax by Segment 16,632 2,289 (75 ) - 274 174 (286 ) - - 19,008 MedTechNine Months September 27, 2026 GAAPIntangible asset amortizationLitigation relatedIn-process research and development impairmentsRestructuring relatedAcquisition, integration and divestiture related(Loss)/gain on securitiesOrthopaedics Separation RelatedTax legislation and other tax relatedNine Months September 27, 2026 Non-GAAPCost of products sold $ 11,035 (1,443 ) (55 ) (9 ) 9,528 Selling, marketing and admin expenses 8,989 (55 ) 8,934 Research and development expense 2,256 (7 ) 2,249 Other segment items 732 139 (375 ) (204 ) 31 (24 ) (675 ) (376 ) Adjusted Income Before Tax by Segment 3,192 1,443 (139 ) 375 259 (31 ) 24 746 - 5,869 Expenses not allocated to segmentsNine Months September 27, 2026 GAAPIntangible asset amortizationLitigation relatedIn-process research and development impairmentsRestructuring relatedAcquisition, integration and divestiture related(Loss)/gain on securitiesOrthopaedics Separation RelatedTax legislation and other tax relatedNine Months September 27, 2026 Non-GAAPCost of products sold $ 47 47 Selling, marketing and admin expenses 679 679 Research and development expense - - Other segment items 6,327 (6,330 ) 1 (2 ) Adjusted Income Before Tax by Segment (7,053 ) - 6,330 - - (1 ) - - - (724 ) Johnson & Johnson ConsolidatedNine Months September 27, 2026 GAAPIntangible asset amortizationLitigation relatedIn-process research and development impairmentsRestructuring relatedAcquisition, integration and divestiture related(Loss)/gain on securitiesOrthopaedics Separation RelatedTax legislation and other tax relatedNine Months September 27, 2026 Non-GAAPCost of products sold $ 24,254 (3,732 ) (55 ) (21 ) (9 ) 20,437 Selling, marketing and admin expenses 18,751 (55 ) 18,696 Research and development expense 11,832 (7 ) 11,825 Other (Income) / Expense 6,405 (6,116 ) (231 ) (121 ) 262 (675 ) (476 ) In-process research and development impairments 375 (375 ) - Interest (Income)/Expense 136 136 Restructuring 247 (247 ) - Adjusted Income Before Tax 12,771 3,732 6,116 375 533 142 (262 ) 746 - 24,153 Provision for taxes on income 1,792 718 1,361 93 161 63 (63 ) 136 (142 ) 4,119 Net Earnings 10,979 3,014 4,755 282 372 79 (199 ) 610 142 20,034 Johnson & Johnson and SubsidiariesGAAP to Non-GAAP Reconciliation$ in MillionsYear to DateInnovative MedicineNine Months Sept 28, 2025 GAAPIntangible asset amortizationLitigation relatedRestructuring relatedAcquisition, integration and divestiture related(Loss)/gain on securitiesTax legislation and other tax relatedOtherNine Months Sept 28, 2025 Non-GAAPCost of products sold $ 11,670 (2,002 ) (24 ) 9,644 Selling, marketing and admin expenses 7,919 7,919 Research and development expense 8,361 8,361 Other segment items (520 ) 74 (275 ) 164 (14 ) (571 ) Adjusted Income Before Tax by Segment 17,208 2,002 (74 ) - 299 (164 ) - 14 19,285 MedTechNine Months Sept 28, 2025 GAAPIntangible asset amortizationLitigation relatedRestructuring relatedAcquisition, integration and divestiture related(Loss)/gain on securitiesTax legislation and other tax relatedOtherNine Months Sept 28, 2025 Non-GAAPCost of products sold $ 10,576 (1,433 ) (35 ) (52 ) 9,056 Selling, marketing and admin expenses 8,319 8,319 Research and development expense 2,052 37 2,089 Other segment items 132 (78 ) (267 ) (155 ) 163 (15 ) (220 ) Adjusted Income Before Tax by Segment 3,912 1,433 78 302 170 (163 ) - 15 5,747 Expenses not allocated to segmentsNine Months Sept 28, 2025 GAAPIntangible asset amortizationLitigation relatedRestructuring relatedAcquisition, integration and divestiture related(Loss)/gain on securitiesTax legislation and other tax relatedOtherNine Months Sept 28, 2025 Non-GAAPCost of products sold $ 42 42 Selling, marketing and admin expenses 685 685 Research and development expense - Other segment items (7,222 ) 6,898 (6 ) (330 ) Adjusted Income Before Tax by Segment 6,495 - (6,898 ) - 6 - - - (397 ) Johnson & Johnson ConsolidatedNine Months Sept 28, 2025 GAAPIntangible asset amortizationLitigation relatedRestructuring relatedAcquisition, integration and divestiture related(Loss)/gain on securitiesTax legislation and other tax relatedOtherNine Months Sept 28, 2025 Non-GAAPCost of products sold $ 22,288 (3,435 ) (35 ) (76 ) 18,742 Selling, marketing and admin expenses 16,923 16,923 Research and development expense 10,413 37 10,450 Other (Income) / Expense (7,692 ) 6,894 (123 ) (436 ) 327 (29 ) (1,059 ) In-process research and development impairments - - Interest (Income)/Expense (62 ) (62 ) Restructuring 144 (144 ) - Adjusted Income Before Tax 27,615 3,435 (6,894 ) 302 475 (327 ) - 29 24,635 Provision for taxes on income 5,927 603 (1,541 ) 58 118 (73 ) (672 ) 9 4,429 Net Earnings 21,688 2,832 (5,353 ) 244 357 (254 ) 672 20 20,206 Source: Johnson & Johnson Multimedia Files: View all news