Johnson & Johnson and Harley-Davidson released their latest quarterly results before opening bell this morning. Johnson & Johnson posted adjusted earnings of $1.83 per share on $17.8 billion in revenue, compared to the consensus estimates of $1.77 per share and $18.02 billion. In the same quarter a year ago, the consumer products company reported $17.48 billion in revenue.
Harley-Davidson posted earnings of $1.05 per share on $1.33 billion in sales, compared to the Wall Street consensus estimates of $1.02 per share and $1.37 billion. In last year’s first quarter, the motorcycle manufacturer reported $1.36 per share in earnings and $1.58 billion in revenue.
Johnson & Johnson’s segment sales miss estimates
Johnson & Johnson’s GAAP earnings per share rose to $1.61 from $1.59 per share in last year’s first quarter. Consumer revenue rose to $3.23 billion from $3.2 billion last year, but it missed the consensus of $3.34 billion. Pharmaceutical revenue rose to $8.25 billion from $8.18 billion, but it also missed the consensus at $8.42 billion. Medical devices revenue rose to $6.29 billion from $6.11 billion last year, but that was a little shy of consensus at $6.27 billion.
Yarra Square Partners returned 19.5% net in 2020, outperforming its benchmark, the S&P 500, which returned 18.4% throughout the year. According to a copy of the firm's fourth-quarter and full-year letter to investors, which ValueWalk has been able to review, 2020 was a year of two halves for the investment manager. Q1 2021 hedge fund Read More
Johnson & Johnson boosted its full-year adjusted earnings per share outlook to a range of $7 to $7.15 per share from the previous range of $6.93 to $7.08 per share.
Shares of Johnson & Johnson were little changed in premarket trading this morning as they hovered around $125.72 per share.
Harley-Davidson shares slump in premarket
Harley-Davidson’s motorcycle sales fell 16.5% to $1.1 billion during the first quarter, coming up just barely short of the consensus at $1.11 billion. Retail motorcycle sales fell 4.2% year over year globally, while U.S. retail motorcycle sales fell 5.7% year over year, which the company said was in line with the industry. The company’s U.S. market share in the 601cc-plus segment rose to 51.3% during the first quarter.
Harley-Davidson expects to ship between 80,000 and 85,000 motorcycles during the second quarter, while analysts were looking for the company to ship 91,025 motorcycles. For the full year, the company affirmed its previous shipment outlook of “flat to down modestly.”
Shares of Harley-Davidson slipped by as much as 4.04% to $57 in premarket trading this morning.