JNJ Q2 2026: $25.3B Sales, Guidance Raised to $101.1B Midpoint, New Launches Drive Growth

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What changed

Compared to Q1 2026, where operational sales grew 6.4% and full-year guidance was raised to a $100.2-$100.8B midpoint, Q2 decelerated slightly to 5.6% operational growth but the guidance raise was larger, up $400M to a $101.1B midpoint with an operational growth target of 6.5-7.1%. Key new developments this quarter include the planned Firefly Bio acquisition adding a KRAS-targeted antibody platform, advancement of the OTTAVA robotic surgical system toward FDA authorization, and progress on the milvexian anticoagulant program with an AFib study readout expected later in 2026. MedTech cardiovascular faced short-term headwinds, while vision, surgery, and orthopedics showed acceleration. STELARA biosimilar competition continued to erode that franchise, though new immunology launches are offsetting the decline.

Guidance delta

Full-year 2026 sales guidance raised by $400 million to a midpoint of $101.1 billion, with an operational growth target of 6.5-7.1%. In Q1, guidance had been raised to a $100.2-$100.8B midpoint. This marks the second consecutive quarterly guidance raise for FY2026. Guidance sentiment: raised.

Key takeaways

• Q2 2026 operational sales grew 5.6% YoY to $25.3B, with EPS of $2.90 beating consensus by 2.1%.
• Full-year 2026 sales guidance raised $400M to a $101.1B midpoint, the second consecutive quarterly raise.
• New product launches including ICOTYDE, INLEXZO, RYBREVANT, and VARIPULSE are delivering strong early uptake across Innovative Medicine and MedTech.
• Oncology remains a core growth engine, with DARZALEX, CARVYKTI, and TALVEY posting high double-digit growth.
• MedTech cardiovascular faced short-term headwinds, but vision, surgery, and orthopedics accelerated.

Management priorities

• Close Firefly Bio acquisition in Q3 2026 to add a KRAS-targeted antibody platform to the oncology pipeline.
• Seek FDA approval and commercial launch of OTTAVA robotic surgical system and MONARCH urology robot.
• Launch dual-energy THERMOCOOL SMARTTOUCH SF platform and Shockwave C2 Aero catheters.
• Advance pipeline data readouts for IMAAVY, TECVAYLI/TALVEY combinations, pasritamig, and J&J 6143.
• Expand TECNIS PureSee intra-ocular lens availability and ACUVUE OASYS MAX lens portfolio.