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Johnson & Johnson (JNJ) Q1 2026 earnings results (first quarter 2026)
10-Q filed Apr 22, 2026
Johnson & Johnson (JNJ) reported revenue of $24.1B for the first quarter 2026 (Q1 2026), +10% from a year earlier and -2% from the quarter before. Operating margin was 24.9%, net earnings $5.2B (21.8% of revenue).
Johnson & Johnson, Q1 2026: revenue $24.1B (+10% year over year), operating margin 24.9%, net earnings $5.2B, operating cash flow $2.5B. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $24.1B | -2% | +10% |
| Gross profit | $16.0B | -4% | +10% |
| Operating profit | $6.0B | +21% | -56% |
| Net earnings | $5.2B | +2% | -52% |
| Operating cash flow | $2.5B | -66% | -40% |
| Free cash flow | $1.5B | -73% | -57% |
What changed
Revenue was $24.1B in Q1 2026, up 10% year over year and down 2% from the previous quarter. Innovative Medicine was the largest line at 64% of revenue. Innovative Medicine added $1.6B year over year (up 11%), 72% of the total change.
Gross margin was 66.3%, down 0.1 points from Q1 2025. Operating profit was $6.0B, a 24.9% margin (down 37.4 points year over year). Operating profit fell $7.6B even though revenue rose $2.2B versus Q1 2025, so costs grew faster than sales. Operating expenses grew 1001% against revenue growth of 10%. Net earnings were $5.2B, down 52% year over year. The effective tax rate was 12.6%.
Operating cash flow was $2.5B (down 40% year over year), 48% of net earnings. Non-cash charges added back $2.0B of depreciation and amortization and $0.30B of share-based compensation. Working capital and other items used $5.0B. Capital expenditures of $1.0B left free cash flow of $1.5B.
Questions
What was Johnson & Johnson's revenue in the first quarter 2026?
Johnson & Johnson (JNJ) reported revenue of $24.1B for the first quarter 2026 (Q1 2026), +10% from a year earlier and -2% from the quarter before.
Was Johnson & Johnson profitable in the first quarter 2026?
Operating profit was $6.0B (24.9% of revenue) and net earnings $5.2B.
Source: Johnson & Johnson 10-Q on SEC EDGAR.