Coronavirus Impacts Lead Johnson & Johnson to Slash Its 2020 Expectations

Johnson & Johnson (NYSE: JNJ) kicked off earnings season for the healthcare sector on Tuesday, and based on what its management had to say, it looks like investors should brace themselves for more disappointment ahead. The positive earnings guidance it issued just three months ago has been totally upended by the COVID-19 pandemic.

In 2019, Johnson & Johnson earned an adjusted $8.68 per share and in January, the company told investors to expect between 3.1% and 4.8% more in 2020. While first-quarter results were better than expected for J&J's pharmaceutical and consumer goods segments, the company's outlook for 2020 is markedly worse than it was.

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Source Fool.com