$JNJ · JOHNSON & JOHNSON
Johnson & Johnson filed its 10-Q for the fiscal quarter ended September 27, 2026. Q3 revenue was $25.399B (+5.9% YoY), with nine-month revenue at $74.771B (+7.4% YoY). GAAP EPS was $0.09 on net income of $210M. Gross margin came in at 68.1%. The STELARA biosimilar erosion continued to weigh on results, while the July 2026 Firefly Bio acquisition added a DAC platform to the Innovative Medicine pipeline.
- Q3 FY2026 revenue of $25.399B, up 5.9% YoY; nine-month revenue of $74.771B, up 7.4% YoY.
- GAAP EPS of $0.09 for Q3 FY2026; net income of $210M.
- Gross margin of 68.1% for the quarter.
- STELARA biosimilar competition negatively impacted worldwide operational sales by approximately 4.7% in the fiscal nine months.
- Completed acquisition of Firefly Bio on July 29, 2026, adding a degrader antibody conjugate (DAC) platform.
Extended-hours trading shows JNJ at $257.70, essentially flat (-0.03%) vs the regular close of $257.78. The $621B market cap company's in-line quarter with known STELARA headwinds generated no meaningful after-hours reaction.
J&J's top-line growth remains solid at +5.9%, but the low GAAP EPS of $0.09 and persistent STELARA biosimilar headwinds highlight the tension between acquisition-driven pipeline renewal and legacy产品er
J&J's 5.9% revenue growth and 68.1% gross margin reflect the diversified pharma/medtech model weathering biosimilar erosion better than pure-play peers. The Firefly Bio DAC platform acquisition signals continued bolt-on pipeline investment.
STELARA biosimilar competition drove a ~4.7% worldwide operational sales headwind in the fiscal nine months, with U.S. impact at ~6.6%. Patent expirations and generic/biosimilar entry remain a persistent revenue risk across the portfolio.
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