JNH Q1 2019 earnings slide on flat revenue growth

JNJ kicked off pharma earnings as it posted its first-quarter 2019 earnings on Tuesday, April 16, before the opening bell.
Reported revenue for the quarter barely changed — inching just 0.1% higher — at $20 billion, while net earnings slipped 14% to $3.7 billion.
On a diluted basis, earnings fell 13% to $1.39 per share.
On a non-GAAP basis, operational sales improved 4% year-over-year, while adjusted operational sales grew 5.5%. Adjusted net earnings inched 0.5% higher to $5.7 billion and adjusted EPS rose by 2% to $2.10 per diluted share.

For more: Johnson & Johnson Q1 2019 Earnings | AlphaStreet

 

need more cost reductions, Business Excellence not delivering REAL value, time to “sunset” Business Excellence, lots of cost at sites, orgs need to own CI internally

 

Need more product investment, even a Bentley needs ongoing maintenance. Lots of costs at sites because medical products. JIT works with sufficient inventory levels close to consumer (HCE or household).

 

A couple of ideas: outsource HR, finance, IT, and accounting. Contract sales force.

 

Business Excellence in Raynham is very good at making posters, not much else