Medical Device Giants Report Strong Q2 2024 Results: Johnson & Johnson, Medtronic, Siemens Healthineers Lead Sector Growth

Sep 12, 2024 19:35 CST Updated 19:36

Johnson & Johnson

Medical Device R&D and Manufacturer

Medtronic

Medical Device Manufacturer

Siemens Healthineers

Integrated Healthcare Service Provider

Source |Healthcare News

Note: The fiscal year start dates for major companies differ from the calendar year, so there may be inconsistencies between fiscal quarters, fiscal years, and the calendar year. Companies may announce their performance results on a quarterly or semi-annual basis.

Johnson & Johnson

Johnson & Johnson Announces Q2 2024 Results: Sales Up 4.3%, Net Profit Down 12.8%

Medtronic

Medtronic Reports First Quarter Earnings for Fiscal Year 2024 Ending July 26. Quarterly net sales were $7.915 billion, compared to $7.702 billion in the same period last year. Net income attributable to the company for the quarter was $1.042 billion, compared to $791 million in the same period last year.

Abbott

Abbott Announces Q2 2024 Financial Results. Net sales for the quarter were $10.377 billion, compared to $9.978 billion in the same period last year, representing a 4% increase. Quarterly net profit was $1.302 billion, compared to $1.375 billion in the same period last year. By business segment, revenue from the medical devices division was $4.734 billion, an increase of 10.2% year-over-year. Nutrition business revenue was $2.15 billion, up 3.5% year-over-year. Diagnostics business revenue was $2.195 billion, down 5.3% year-over-year. Generic drugs business sales were $1.294 billion, up 0.6% year-over-year.

Siemens Healthineers

Siemens Healthineers Releases Q3 2024 Financial Results for Fiscal Year Ending June 30, 2024Q3 Revenue: €5.423 billion (approximately $6.01 billion), compared to €5.201 billion in the same period last year, representing a 4.3% year-over-year increase. Adjusted EBIT for the quarter was €825 million, compared to €758 million in the prior-year period. Net income for the quarter was €472 million, compared to €451 million in the same period last year.

Danaher

Danaher Reports Second Quarter 2024 Results. Net sales for the quarter were $5.743 billion, compared to $5.912 billion in the same period last year. Net income attributable to common shareholders for the quarter was $907 million, compared to $1.106 billion in the same period last year.

Stryker

Medical device and equipment manufacturer Stryker reported its Q2 2024 financial results. Net sales for the quarter reached $5.422 billion, an increase of 8.5% compared to $4.996 billion in the same period last year. Quarterly net profit was $825 million, a year-on-year growth of 11.8% from $738 million.

Fresenius Medical Care

Fresenius Medical Care Announces Q2 2024 Financial ResultsRevenue for the quarter was €4.766 billion (approximately $5.285 billion), compared to €4.825 billion in the same period last year. Operating profit for the quarter was €425 million, compared to €357 million in the prior-year period. Net profit for the quarter was €187 million, compared to €140 million in the same quarter last year.

Philips Healthcare

Royal Philips N.V., a Dutch healthcare company, announced its Q2 2024 financial results. Quarterly sales reached €4.462 billion (approximately $4.946 billion), compared to €4.47 billion in the same period last year. Quarterly net profit was €452 million, up from €74 million in the prior-year quarter. Adjusted EBITDA for the quarter was €733 million, compared to €681 million in the same quarter last year.

BD Medical

BD Reports Third Quarter 2024 Results Ended June 30. Quarterly revenue was $4.99 billion, compared to $4.878 billion in the same period last year. Net income attributable to common shareholders for the quarter was $487 million, compared to $392 million in the same period last year.

GE Healthcare

GE HealthCare Reports Q2 2024 Earnings. Total revenue for the quarter was $4.839 billion, compared to $4.817 billion in the same period last year. Net income attributable to the company for the quarter was $428 million, compared to $418 million in the same period last year.

Thermo Fisher Scientific

Thermo Fisher Scientific Announces Q2 2024 Financial ResultsRevenue for the quarter was $10.541 billion, compared to $10.687 billion in the same period last year. Net income attributable to the company for the quarter was $1.548 billion, compared to $1.361 billion in the same period last year. Specifically, revenue from the life sciences business was $2.355 billion, revenue from laboratory products and biopharmaceutical services was $5.758 billion, revenue from specialty diagnostics was $1.117 billion, and revenue from analytical instruments was $1.783 billion.

Roche

Roche Announces Financial Results for the First Half of 2024. During this period, the group's sales revenue reached 29.848 billion Swiss francs, compared to 29.779 billion Swiss francs in the same period last year. Operating profit for the period was 11.293 billion Swiss francs, compared to 10.911 billion Swiss francs in the same period last year. Net profit for the period was 6.697 billion Swiss francs, compared to 7.563 billion Swiss francs in the same period last year. Among these figures, pharmaceutical business sales amounted to 22.637 billion Swiss francs, compared to 22.511 billion Swiss francs in the same period last year. Diagnostic business sales were 7.211 billion Swiss francs (approximately 8.5 billion U.S. dollars), compared to 7.268 billion Swiss francs in the same period last year.

Boston Scientific

Boston Scientific Reports Second Quarter 2024 Results. Net sales for the quarter were $4.12 billion, an increase of 14.5% compared to the same period last year. Net income attributable to common shareholders was $324 million, compared to $261 million in the same period last year.

Baxter International

Baxter International Inc. Announces Q2 2024 Financial Results. Net sales for the quarter were $3.812 billion, compared to $3.707 billion in the same period last year. Net loss attributable to shareholders for the quarter was $314 million, compared to a net loss of $141 million in the same period last year.

Henry Schein

Henry Schein Reports Second Quarter 2024 Results. Net sales for the quarter were $3.136 billion, compared to $3.1 billion in the same period last year. Net income attributable to the company for the quarter was $104 million, compared to $140 million in the same period last year.

Cardinal Health

Cardinal Health Releases Fourth Quarter and Fiscal Year 2024 Results Ended June 30, 2024. Fourth quarter revenue was $59.867 billion, with a net profit attributable to the company of $235 million. Fiscal year revenue reached $226.827 billion, with a net profit attributable to the company of $852 million. Among this, the medical products and distribution business reported fourth quarter revenue of $3.1 billion and a profit of $47 million. Fiscal year revenue was $12.4 billion, with a profit of $92 million.

OuMais-MaiMai

Owens & Minor Reports Q2 2024 Financial Results. Net revenue for the quarter was $2.671 billion, compared to $2.563 billion in the same period last year. The company reported a net loss of $31.91 million for the quarter, compared to a net loss of $28.24 million in the same period last year.

Shuwanuo

Solventum (formerly 3M Health Care Business) Announces Q2 2024 Financial Results. Total net sales for the quarter were $2.081 billion, compared to $2.076 billion in the same period last year. Net profit for the quarter was $89 million, compared to $321 million in the same period last year.

Intuitive Shell

Intuitive Surgical, Inc. Announces Q2 2024 Financial Results. Total revenue for the quarter was $2.01 billion, compared to $1.756 billion in the same period last year. Net income attributable to the company for the quarter was $527 million, compared to $421 million in the same period last year. Revenue from instruments and accessories increased by 16% year-over-year to $1.24 billion. The number of da Vinci Surgical Systems installed reached 9,203, representing a 14% year-over-year increase.

Zimmer Biomet

Zimmer Biomet Holdings Inc. Announces Q2 2024 Financial Results. Net sales for the quarter were $1.942 billion, compared to $1.87 billion in the same period last year. Net income attributable to the company for the quarter was $243 million, compared to $210 million in the same period last year.

Terumo

Terumo Reports First Quarter Results for Fiscal Year Ending June 30, 2024Quarterly Revenue: 258.194 Billion Yen (Approx. 1.776 Billion USD), Up 19.9% YoY from 215.252 Billion YenQuarterly Operating Profit: 44.64 Billion Yen, Up 50.6% YoY from 29.644 Billion YenQuarterly Net Income Attributable to Parent Company: 33.891 Billion Yen, Up 50.3% YoY from 22.549 Billion Yen

Olympus

Olympus (OLYMPUS) Announces First Fiscal Quarter Results Ended June 30, 2024. Quarterly revenue reached 234.821 billion yen (approximately 1.616 billion USD), compared to 204.985 billion yen in the same period last year, representing a 14.6% year-over-year increase. Quarterly operating profit was 27.477 billion yen, up from 22.626 billion yen in the same period last year, marking a 21.4% year-over-year growth. Net profit attributable to the parent company’s owners for the quarter was 14.583 billion yen, down from 240.56 billion yen in the same period last year, reflecting a 93.9% year-over-year decline.

Fujifilm Group

Fujifilm Holdings Releases First Quarter Results for the Fiscal Year Ending June 30, 2024. Group sales revenue increased by 13.4% year-on-year to 749 billion yen. Driven by overall sales growth and exchange rate factors, operating profit reached 62.2 billion yen, a year-on-year increase of 19.1%, while net profit attributable to the group grew by 11.6% year-on-year to 60.7 billion yen. Across business segments, healthcare business revenue increased by 10.8% year-on-year to 229.2 billion yen (approximately 1.58 billion U.S. dollars). Electronic materials business revenue surged by 37.9% year-on-year to 109.1 billion yen. Imaging business revenue rose by 24.2% year-on-year to 105.2 billion yen. Business innovation revenue increased by 3.9% year-on-year to 280 billion yen.

Mindray Medical

Mindray Releases Semi-Annual Report for 2024. During the reporting period, the company achieved operating revenue of 20.531 billion yuan (approximately 2.89 billion US dollars), representing a year-on-year increase of 11.12%; net profit attributable to shareholders of the listed company was 7.561 billion yuan, reflecting a year-on-year growth of 17.37%.

Canon Group

Canon Group Releases Q2 2024 Financial Report. In Q2, the group's revenue increased by 14.4% year-over-year to 1,167.86 billion yen. Operating profit grew by 28.3% year-over-year to 118.391 billion yen. Net profit rose by 37.4% year-over-year to 89.857 billion yen. Among these, revenue in the printing business sector increased by 13.8% year-over-year to 654.5 billion yen. Revenue in the medical business sector grew by 11.8% year-over-year to 141 billion yen (approximately 970 million U.S. dollars). Revenue in the imaging business sector increased by 11.6% year-over-year to 244.7 billion yen. Revenue in the industrial business sector surged by 26.2% year-over-year to 94.5 billion yen.

EssilorLuxottica

EssilorLuxottica Reports First Half 2024 Financial Results. Revenue for the period was €13.29 billion, compared to €12.851 billion in the same period last year. Operating profit was €1.943 billion, compared to €1.832 billion in the same period last year. Net profit attributable to owners of the parent company was €1.365 billion, compared to €1.361 billion in the same period last year. Revenue from professional solutions was €6.414 billion (approximately $7.11 billion), compared to €6.234 billion in the same period last year. Consumer business revenue was €6.876 billion, compared to €6.616 billion in the same period last year.

Alcon

Alcon Announces Q2 2024 Financial Results. Net sales for the quarter were $2.482 billion, compared to $2.402 billion in the same period last year. Quarterly net profit was $223 million, compared to $169 million in the same period last year.

Bausch + Lomb

Bausch+Lomb Reports Q2 2024 Results. Revenue for the quarter was $1.216 billion, compared to $1.035 billion in the same period last year. Net loss attributable to the company for the quarter was $151 million, compared to a net loss of $32 million in the same period last year.

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