Q2 2024 Financial Highlights and Product Updates from 28 Global MedTech Leaders Including GE HealthCare, Medtronic, and Johnson & Johnson

Sep 11, 2024 18:28 CST Updated 18:29

Johnson & Johnson

Medical Device R&D and Manufacturer

Medtronic

Medical Device Manufacturer

Siemens Healthineers

Integrated Healthcare Service Provider

Stryker

Medical Device R&D, Production, and Sales Company

Instrument Family

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Source: PharmaHealth News

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

Johnson & Johnson

Johnson & Johnson Announces Q2 2024 Financial ResultsQuarterly sales reached $22.447 billion, compared to $21.519 billion in the same period last year, representing a 4.3% year-over-year increase. Quarterly net profit was $4.686 billion, down 12.8% from $5.376 billion in the same period last year. Adjusted net profit amounted to $6.84 billion, reflecting a 1.6% year-over-year growth. By business segment, pharmaceutical sales were $14.49 billion, up 5.5% year-over-year. Medical device sales totaled $7.957 billion, marking a 2.2% year-over-year increase.

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 profit attributable to the company for the quarter was $1.042 billion, compared to $791 million in the same period last year.

Abbott

Abbott Reports Q2 2024 Earnings. Net sales for the quarter were $10.377 billion, compared to $9.978 billion in the same period last year, representing a 4% year-over-year 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, up 10.2% year over year. Nutrition business revenue reached $2.15 billion, a 3.5% increase year over year. Diagnostics business revenue was $2.195 billion, down 5.3% year over year. Generic drug business sales amounted to $1.294 billion, with a 0.6% year-over-year increase.

Siemens Healthineers

Siemens Healthineers Releases Q3 2024 Financial Results Ended June 30, 2024

Danaher Corporation

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 announced 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, up 11.8% from $738 million in the same period last year.

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

Dutch healthcare company Koninklijke Philips N.V. 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 a year earlier.

BD Reports Third Quarter Results for the Period Ended June 30, 2024. Quarterly revenue was $4.99 billion, compared to $4.878 billion in the same period last year. Net profit 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 profit attributable to the company for the quarter was $428 million, compared to $418 million in the same period last year.

Thermo Fisher

Thermo Fisher Scientific Reports Q2 2024 Financial Results. Revenue 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 prior-year period. Specifically, revenue from the Life Sciences segment was $2.355 billion, Laboratory Products and Biopharma Services revenue was $5.758 billion, Specialty Diagnostics revenue was $1.117 billion, and Analytical Instruments revenue was $1.783 billion.

Roche

Roche Announces Financial Results for the First Half of 2024. The group's sales for the period were CHF 29.848 billion, compared to CHF 29.779 billion in the same period last year. Operating profit for the period was CHF 11.293 billion, compared to CHF 10.911 billion in the same period last year. Net profit for the period was CHF 6.697 billion, compared to CHF 7.563 billion in the same period last year. Pharmaceutical sales were CHF 22.637 billion, compared to CHF 22.511 billion in the same period last year. Diagnostics division sales were CHF 7.211 billion (approximately USD 8.5 billion), compared to CHF 7.268 billion in the same period last year.

Boston Scientific

Boston Scientific Reports Q2 2024 Financial Results. Net sales for the quarter were $4.12 billion, representing a 14.5% increase compared to the same period last year. Net income attributable to common shareholders was $324 million, compared to $261 million in the same quarter of the previous year.

Baxter International

Baxter International Inc. Announces Q2 2024 Financial Results: Net Sales of $3.812 Billion, Up from $3.707 Billion YoY; Net Loss Attributable to Shareholders Widens to $314 Million from $141 Million.

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, Net Income Attributable to the Company was $235 Million. Fiscal Year Revenue was $226.827 Billion, Net Income Attributable to the Company was $852 Million. Medical Products and Distribution Business Fourth Quarter Revenue was $3.1 Billion, Profit was $47 Million. Fiscal Year Revenue was $12.4 Billion, Profit was $92 Million.

Omacor-Magnesium

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.

Sulvanus

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. Quarterly net profit was $89 million, compared to $321 million in the same period last year.

Intuitive Surgical

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, reflecting 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 profit attributable to the company for the quarter was $243 million, compared to $210 million in the same period last year.

TaiErmao

Terumo Reports First Quarter Results for Fiscal Year Ending June 30, 2024. Quarterly revenue reached 258.194 billion yen (approximately $1.776 billion USD), compared to 215.252 billion yen in the same period last year, representing a 19.9% year-over-year increase. Quarterly operating profit was 44.64 billion yen, up from 29.644 billion yen in the same period last year, marking a 50.6% growth. Net profit attributable to parent company owners for the quarter was 33.891 billion yen, compared to 22.549 billion yen in the same period last year, reflecting a 50.3% increase.

Olympus

Olympus (OLYMPUS) Announces First Quarter Results for the Period Ending 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 income attributable to owners of the parent company 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.

FujifilmFilm Group

Fujifilm Holdings Releases First Quarter Financial Results for the Fiscal Year Ending June 30, 2024. Group sales revenue increased by 13.4% year-over-year to 749 billion yen. Driven by overall sales growth and currency effects, operating profit reached 62.2 billion yen, a year-over-year increase of 19.1%, and net profit attributable to the group increased by 11.6% year-over-year to 60.7 billion yen. Across all business segments, healthcare business revenue grew by 10.8% year-over-year to 229.2 billion yen (approximately 1.58 billion U.S. dollars). Electronic materials business revenue surged by 37.9% year-over-year to 109.1 billion yen. Imaging business revenue increased by 24.2% year-over-year to 105.2 billion yen. Business innovation segment revenue rose by 3.9% year-over-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, representing a year-on-year increase of 17.37%.

Canon Group

Canon Group Releases Q2 2024 Financial Report. In Q2, the group's revenue increased by 14.4% year-on-year to 1,167.86 billion yen. Operating profit grew by 28.3% year-on-year to 1,183.91 billion yen. Net profit surged by 37.4% year-on-year to 898.57 billion yen. Among these, revenue in the printing business segment rose by 13.8% year-on-year to 654.5 billion yen. Revenue in the medical business segment increased by 11.8% year-on-year to 141 billion yen (approximately 9.7 billion U.S. dollars). Revenue in the imaging business segment grew by 11.6% year-on-year to 244.7 billion yen. Revenue in the industrial business segment jumped by 26.2% year-on-year to 94.5 billion yen.

EssilorLuxottica

EssilorLuxottica Reports First Half 2024 Financial Results. Revenue for the period reached €13.29 billion, compared to €12.851 billion in the same period last year. Operating profit was €1.943 billion, versus €1.832 billion in the prior-year period. Net profit attributable to owners of the parent company amounted to €1.365 billion, compared to €1.361 billion in the same period last year. Revenue from Professional Solutions totaled €6.414 billion (approximately $7.11 billion), compared to €6.234 billion in the previous year. Consumer business revenue reached €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, up from $169 million in the same period last year.

Bausch + Lomb

Bausch+Lomb Reports Q2 2024 Financial 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.

END

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