Q4 2023 Financial Results and Business Highlights of Global MedTech Leaders: Medtronic, Johnson & Johnson, Philips, and More

Feb 29, 2024 17:44 CST Updated 17:44

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Source: Global Business Dynamics

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.

MedtronicAnnounced Financial Results for the Third Fiscal Quarter Ended January 26, 2024. Quarterly Net Sales of $8.089 Billion, Compared to $7.727 Billion in the Same Period Last Year. Quarterly Net Income Attributable to the Company was $1.322 Billion, Compared to $1.222 Billion in the Same Period Last Year.

Johnson & JohnsonJohnson & Johnson Announces Q4 2023 Earnings. Quarterly sales reached $21.4 billion, a year-over-year increase of 7.3%. Net profit was $4.13 billion, compared to $3.23 billion in the same period last year. By segment, excluding COVID-19 vaccine sales, pharmaceutical business revenue was $13.68 billion. Johnson & Johnson's medical device business sales were $7.67 billion, a year-over-year increase of 13.3%.

AbbottAnnouncement of Q4 2023 Financial Results: Quarterly Revenue Increased by 1.5% Year-over-Year to $10.24 Billion. By Business Segment, Medical Device Revenue Reached $4.44 Billion, a Year-over-Year Increase of 17.5%. Nutrition Business Revenue Was $2.04 Billion, Up 12% Year-over-Year. Diagnostics Business Revenue Amounted to $2.53 Billion, a Decrease of 23% Year-over-Year. Generic Drug Business Sales Were $1.22 Billion, a Year-over-Year Increase of 0.5%. Quarterly Net Profit Was $1.594 Billion, Compared to $1.033 Billion in the Same Period Last Year.

Danaher Group (Danaher)Announcement of Q4 and Full-Year 2023 Financial Results. Q4 sales were $6.405 billion, compared to $7.134 billion in the same period last year. Net profit attributable to ordinary shareholders for the quarter was $1.079 billion, compared to $2.21 billion in the same period last year. Full-year 2023 sales were $23.98 billion, compared to $26.643 billion in 2022. Net profit attributable to ordinary shareholders for the full year was $4.743 billion, compared to $7.103 billion in the previous year.

Medical Device and Equipment ManufacturersStrykerAnnouncement of Q4 and Full-Year 2023 Results. Net sales for the fourth quarter were $5.815 billion, compared to $5.202 billion in the same period last year. Quarterly net profit was $1.143 billion, compared to $563 million in the same period last year. Net sales for 2023 were $20.498 billion, compared to $18.449 billion in 2022. Full-year net profit was $3.165 billion, compared to $2.358 billion in the previous year.

PhilipsAnnouncing Q4 2023 Results. Quarterly operating profit was €24 million, including €363 million in costs related to the ventilator settlement agreement. Group sales decreased by 1% to €5.06 billion (approximately $5.47 billion). Comparable sales, excluding sales provisions, grew by 3%. Comparable order intake declined by 3%.

Fresenius Medical CareAnnouncement of Q4 and Full-Year 2023 Financial Results. Quarterly revenue was €4.988 billion (approximately $5.39 billion), compared to €4.997 billion in the same period last year. Quarterly operating profit was €428 million, compared to €352 million in the same period last year. Quarterly net profit was €188 million, compared to €139 million in the same period last year. Full-year 2023 revenue was €19.454 billion (approximately $21 billion), compared to €19.398 billion last year. Full-year operating profit was €1.369 billion, compared to €1.512 billion last year. Full-year net profit was €499 million, compared to €673 million last year.

GE HealthCareAnnouncement of Q4 and Full-Year 2023 Financial Results. Total revenue for the fourth quarter was $5.206 billion, compared to $4.938 billion in the same period last year. Net profit attributable to ordinary shareholders for the quarter was $403 million, compared to $554 million in the same period last year. Total revenue for 2023 was $19.552 billion, compared to $18.341 billion in 2022. Net profit attributable to ordinary shareholders for the full year was $1.385 billion, compared to $1.916 billion in the previous year.

BDAnnounced the financial results for the first quarter of the fiscal year ending December 31, 2023. Quarterly revenue was $4.706 billion, compared to $4.586 billion in the same period last year. Net profit attributable to common shareholders for the quarter was $281 million, compared to $486 million in the same period last year.

Thermo Fisher ScientificAnnouncement of Q4 and Full-Year 2023 Financial Results. Revenue for the fourth quarter was $10.886 billion, compared to $11.45 billion in the same period last year. Net profit attributable to the company for the quarter was $1.63 billion, compared to $1.576 billion in the same period last year. Specifically, revenue from the life sciences business was $2.469 billion, revenue from laboratory products and biopharmaceutical services was $5.719 billion, revenue from professional diagnostics was $1.105 billion, and revenue from analytical instruments was $2.037 billion. Full-year revenue was $42.857 billion, compared to $44.915 billion last year. Full-year net profit attributable to the company was $5.995 billion, compared to $6.95 billion last year.

RocheAnnouncing 2023 Performance. Total group sales for the year reached 58.716 billion Swiss francs, compared to 63.281 billion Swiss francs in the previous year. Pharmaceutical business sales amounted to 44.612 billion Swiss francs, with an operating profit of 17.132 billion Swiss francs. Diagnostic business sales reached 14.104 billion Swiss francs (approximately 16 billion US dollars), with an operating profit of 2.171 billion Swiss francs. Net profit attributable to shareholders of the company for the full year was 11.498 billion Swiss francs, compared to 12.421 billion Swiss francs in the same period last year.

Cardinal HealthAnnounced Financial Results for the Second Fiscal Quarter Ended December 31, 2023. Quarterly revenue was $57.445 billion, compared to $51.469 billion in the same period last year. Net profit attributable to the company for the quarter was $353 million, compared to a net loss of $130 million in the same period last year. Among this, the Medical business segment reported quarterly revenue of $3.928 billion, compared to $3.797 billion in the same period last year.

Baxter International IncAnnouncement of Q4 and Full-Year 2023 Financial Results. Net sales for the fourth quarter were $3.885 billion, compared to $3.745 billion in the same period last year. Net income attributable to shareholders for the quarter was $245 million, compared to $181 million in the same period last year. Net sales for the full year 2023 were $14.813 billion, compared to $14.506 billion in 2022. Net income attributable to shareholders for the full year was $2.665 billion, compared to a net loss of $2.433 billion in the previous year.

Boston ScientificAnnouncement of Q4 and Full-Year 2023 Results. Net sales for the fourth quarter were $3.725 billion, compared to $3.242 billion in the same period last year. Net profit attributable to the company for the quarter was $504 million, compared to $126 million in the same period last year. Net sales for 2023 were $14.24 billion, compared to $12.682 billion in 2022. Net profit attributable to the company for the full year was $1.57 billion, compared to $642 million in the previous year.

Henry ScheinAnnouncement of Q4 and Full-Year 2023 Financial Results. Net sales for the fourth quarter were $3.017 billion, compared to $3.371 billion in the same period last year. Net profit attributable to the company for the quarter was $18 million, compared to $47 million in the same period last year. Net sales for the full year 2023 were $12.339 billion, compared to $12.647 billion in 2022. Net profit attributable to the company for the full year was $416 million, compared to $538 million in the previous year.

Owens & MinorAnnouncement of Q4 and Full-Year 2023 Financial Results. Net revenue for the fourth quarter was $2.656 billion, compared to $2.551 billion in the same period last year. Quarterly net profit was $17.78 million, compared to a net loss of $57.99 million in the same period last year. Net revenue for 2023 was $10.3 billion, compared to $9.96 billion in 2022. Full-year net loss was $41.4 million, compared to a net profit of $22.39 million in the previous year.

3M CompanyAnnouncement of Q4 2023 Financial Results. Net sales for the quarter were $8.013 billion, compared to $8.079 billion in the same period last year. Net profit attributable to the company for the quarter was $9.45 billion, compared to $5.41 billion in the same period last year. By business segment, net sales for Safety and Industrial businesses were $2.661 billion, Transportation and Electronics businesses were $2.089 billion, and Consumer businesses were $1.226 billion. Health Care business net sales were $2.037 billion, compared to $2.044 billion in the same period last year; operating profit was $372 million, compared to $412 million in the same period last year.

Zimmer Biomet Holdings IncAnnouncement of Q4 and Full-Year 2023 Financial Results. Net sales for the fourth quarter were $1.94 billion, compared to $1.825 billion in the same period last year. Net profit attributable to the company for the quarter was $419 million, compared to a net loss of $131 million in the same period last year. Net sales for the full year 2023 were $7.394 billion, compared to $6.94 billion in 2022. Net profit attributable to the company for the full year was $1.024 billion, compared to $231 million in the previous year.

Fujifilm HoldingsPerformance for the First Nine Months (April-December) of the Fiscal Year Ending December 31, 2023 Announced. Revenue for the period was 2,155.4 billion yen, compared to 2,094.3 billion yen in the same period last year. Operating profit for the period was 204.9 billion yen, compared to 202.6 billion yen in the same period last year. Net profit attributable to the company for the period was 173.8 billion yen, compared to 153.7 billion yen in the same period last year. By business segment, medical and health-related sales revenue increased by 7.6% year-on-year to 690.7 billion yen (approximately $4.585 billion). High-performance materials sales revenue decreased by 3.9% year-on-year to 494.7 billion yen. Imaging sales revenue increased by 13.8% year-on-year to 368.6 billion yen. Business innovation sales decreased by 2.1% year-on-year to 601.4 billion yen.

TerumoAnnounced Financial Results for the First Nine Months (April-December) of the Fiscal Year Ending December 31, 2023. Revenue for the period was 683.95 billion yen (approximately 4.54 billion U.S. dollars), compared to 617.99 billion yen in the same period last year. Operating profit for the period was 105.5 billion yen, compared to 93.5 billion yen in the same period last year. Net profit attributable to owners of the parent company for the period was 79.9 billion yen, compared to 70.2 billion yen in the same period last year.

Olympus (OLYMPUS)Announced Financial Results for the First Nine Months (April-December) of the Fiscal Year Ending December 31, 2023. Revenue for the period was 675.7 billion yen (approximately 4.485 billion USD), compared to 641.5 billion yen in the same period last year. Operating profit for the period was 39 billion yen, compared to 142.6 billion yen in the same period last year. Net profit attributable to owners of the parent company for the period was 235.2 billion yen, compared to 108.2 billion yen in the same period last year.

Canon Group (Canon)Release of Q4 and Full-Year 2023 Financial Report. Net sales for the fourth quarter reached 1,163.7 billion yen, with an operating profit of 116.0 billion yen, and a net profit attributable to the company of 80.6 billion yen. Medical business net sales amounted to 164.2 billion yen (approximately 1.09 billion USD), compared to 150.8 billion yen in the same period last year. Full-year net sales were 4,181.0 billion yen, compared to 4,031.4 billion yen the previous year. Annual operating profit was 375.4 billion yen, up from 353.4 billion yen the previous year. Net profit attributable to the company for the full year was 264.5 billion yen, compared to 244.0 billion yen the previous year. Medical business net sales for the full year were 553.8 billion yen, compared to 513.3 billion yen in the same period last year.

EssilorLuxotticaAnnouncement of Q4 and Full-Year 2023 Financial Results. Q4 revenue was €6.25 billion, with professional segment revenue at €2.986 billion (approximately $3.23 billion) and consumer segment revenue at €3.264 billion. Full-year revenue reached €25.395 billion, compared to €24.494 billion the previous year. Annual operating profit was €3.176 billion, versus €3.157 billion the prior year. Net profit attributable to owners of the parent company for the full year was €2.289 billion, compared to €2.152 billion the previous year. Professional segment revenue for the year totaled €12.199 billion (approximately $13.2 billion), compared to €11.77 billion the previous year. Consumer segment revenue for the year was €13.195 billion, compared to €12.724 billion the previous year.

AlconAnnouncement of Q4 and Full-Year 2023 Results. Net sales for the fourth quarter were $2.332 billion, compared to $2.155 billion in the same period last year. Quarterly net profit was $427 million, compared to a net loss of $97 million in the same period last year. Net sales for 2023 were $9.37 billion, compared to $8.654 billion in 2022. Full-year profit was $974 million, compared to $335 million in the previous year.

Bausch+LombAnnouncement of Q4 and Full-Year 2023 Financial Results. Revenue for the fourth quarter was $1.173 billion, compared to $996 million in the same period last year. Net loss attributable to the company for the quarter was $54 million, compared to a net loss of $1 million in the same period last year. Revenue for the full year 2023 was $4.146 billion, compared to $3.768 billion in 2022. Net loss attributable to the company for the full year was $260 million, compared to a net profit of $6 million in the previous year.

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