1 month ago
Johnson & Johnson (JNJ) has been a rewarding stock to hold, up about 53% over the past year against about 17% for the S&P 500. The change worth noticing over that stretch is quieter than the price. Management said sales still rose 5.6% despite a STELARA drag of about 460 basis points. Management is encouraging investors to evaluate the company's underlying momentum by presenting growth rates that exclude STELARA alongside its reported figures.
A year and a half ago, that drag was the headline. Management's own framing of the first quarter of 2025 noted an approximate 810 basis point headwind on Innovative Medicine sales.
By the second quarter of 2026, that segment-level drag remained heavy at roughly 760 basis points (or about 460 basis points across the total enterprise), yet management's emphasis shifted to highlighting double-digit operational growth excluding STELARA
The exclusion is not a rounding adjustment. STELARA sales fell 55.7% in the second quarter of 2026, and management put that drag at about 460 basis points of the whole company's 5.6% operational sales growth.
Two products show what the replacement looks like. TREMFYA booked $2 billion of sales in the second quarter of 2026, up over 70%, and management says ulcerative colitis and Crohn's disease are the major drivers of that growth. ICOTYDE, a recently launched once-daily pill for psoriasis, is the second, which leadership has highlighted as a key pipeline priority for the immunology business.
#sales #basis #drag #quarter
A year and a half ago, that drag was the headline. Management's own framing of the first quarter of 2025 noted an approximate 810 basis point headwind on Innovative Medicine sales.
By the second quarter of 2026, that segment-level drag remained heavy at roughly 760 basis points (or about 460 basis points across the total enterprise), yet management's emphasis shifted to highlighting double-digit operational growth excluding STELARA
The exclusion is not a rounding adjustment. STELARA sales fell 55.7% in the second quarter of 2026, and management put that drag at about 460 basis points of the whole company's 5.6% operational sales growth.
Two products show what the replacement looks like. TREMFYA booked $2 billion of sales in the second quarter of 2026, up over 70%, and management says ulcerative colitis and Crohn's disease are the major drivers of that growth. ICOTYDE, a recently launched once-daily pill for psoriasis, is the second, which leadership has highlighted as a key pipeline priority for the immunology business.
#sales #basis #drag #quarter
1 month ago
Interested in Johnson & Johnson? Here are five stocks we like better.
Johnson & Johnson raised its growth ambitions, forecasting 6.5% adjusted operational sales growth and 7.3% adjusted EPS growth in 2026, with revenue expected to surpass $100 billion. Executives see 2027 improving further and aim for double-digit growth by the end of the decade despite STELARA biosimilar competition.
The company plans to detail its long-term growth strategy at an enterprise review in December, highlighting new product launches, a pipeline that includes 12 proof-of-concept molecules in Phase III, and the durability of growth beyond 2030.
Capital spending is focused on Innovative Medicine and MedTech launches, including ICOTYDE, cancer treatments, and the OTTAVA robotic surgical system. J&J also expects continued momentum from its myeloma therapies, ICOTYDE's expanding coverage, and MedTech products, while using acquisitions mainly to support growth beyond the current decade.
5 Defensive Stocks to Watch as CPI and the Fed Put the Rally to the Test
#adjusted #interested
Johnson & Johnson raised its growth ambitions, forecasting 6.5% adjusted operational sales growth and 7.3% adjusted EPS growth in 2026, with revenue expected to surpass $100 billion. Executives see 2027 improving further and aim for double-digit growth by the end of the decade despite STELARA biosimilar competition.
The company plans to detail its long-term growth strategy at an enterprise review in December, highlighting new product launches, a pipeline that includes 12 proof-of-concept molecules in Phase III, and the durability of growth beyond 2030.
Capital spending is focused on Innovative Medicine and MedTech launches, including ICOTYDE, cancer treatments, and the OTTAVA robotic surgical system. J&J also expects continued momentum from its myeloma therapies, ICOTYDE's expanding coverage, and MedTech products, while using acquisitions mainly to support growth beyond the current decade.
5 Defensive Stocks to Watch as CPI and the Fed Put the Rally to the Test
#adjusted #interested
2 months ago
On August 5, Protagonist Therapeutics (NASDAQ:PTGX) reported second-quarter 2026 results that flipped the company from red ink to a $162.8 million profit, or $2.29 per diluted share, compared with a $34.8 million loss a year earlier. The swing came as the company banked payments tied to two drugs moving from the lab bench to the pharmacy counter: ICOTYDE, an oral psoriasis treatment, and rusfertide, an injectable now awaiting an FDA decision. Cash and marketable securities climbed to $849.5 million. Here's what's fueling the optimism, and what could complicate it.
The quarter marked the first full three months of commercial sales for ICOTYDE, which won FDA approval on March 18 for moderate-to-severe plaque psoriasis in patients 12 and older weighing at least 40 kg. That approval triggered a $50 million milestone payment and made ICOTYDE, according to the company, the first and only FDA-approved targeted oral peptide for the condition. Protagonist can still collect up to $580 million more in milestones from partner Johnson & Johnson, plus royalties that average around 7.25 percent at $4 billion in annual sales.
Rusfertide carries even more weight. Its new drug application sits under Priority Review with a PDUFA goal date in August, backed by Breakthrough Therapy, Orphan Drug, and Fast Track designations for polycythemia vera. Partner Takeda already paid Protagonist $200 million on an opt-out election in April, with another $200 million and a $75 million approval milestone still due, on top of royalties that can reach 29 percent of sales above $1.5 billion. Behind both drugs, PN-881, an oral IL-17 antagonist, is heading into a Phase 2b psoriasis program in early 2027 after Phase 1 data showed drug levels beating their pharmacokinetic targets, and a Phase 1 study just began for PN-477sc, an injectable obesity peptide.
Look closer at that $213.5 million in license and collaboration revenue, and $192.4 million of it traces to the proportional recognition of Takeda's initial opt-out payment, not repeatable product sales. A year earlier, the same line item was just $5.5 million, so the growth reflects a single deal event more than an operating business scaling up. And that opt-out itself cuts both ways: Protagonist gave up its right to develop and commercialize rusfertide on its own, trading full ownership for royalties and milestones that depend on Takeda's execution rather than Protagonist's.
Spending is also set to climb. Management expects research and development costs to increase significantly in the second half of 2026 versus the first half, driven by the new PN-881 Phase 2b program, manufacturing investments, and added headcount. General and administrative costs are rising too, largely on stock-based compensation. And rusfertide's fate still hinges on an FDA decision that hasn't happened yet, priority review or not.
#protagonist
The quarter marked the first full three months of commercial sales for ICOTYDE, which won FDA approval on March 18 for moderate-to-severe plaque psoriasis in patients 12 and older weighing at least 40 kg. That approval triggered a $50 million milestone payment and made ICOTYDE, according to the company, the first and only FDA-approved targeted oral peptide for the condition. Protagonist can still collect up to $580 million more in milestones from partner Johnson & Johnson, plus royalties that average around 7.25 percent at $4 billion in annual sales.
Rusfertide carries even more weight. Its new drug application sits under Priority Review with a PDUFA goal date in August, backed by Breakthrough Therapy, Orphan Drug, and Fast Track designations for polycythemia vera. Partner Takeda already paid Protagonist $200 million on an opt-out election in April, with another $200 million and a $75 million approval milestone still due, on top of royalties that can reach 29 percent of sales above $1.5 billion. Behind both drugs, PN-881, an oral IL-17 antagonist, is heading into a Phase 2b psoriasis program in early 2027 after Phase 1 data showed drug levels beating their pharmacokinetic targets, and a Phase 1 study just began for PN-477sc, an injectable obesity peptide.
Look closer at that $213.5 million in license and collaboration revenue, and $192.4 million of it traces to the proportional recognition of Takeda's initial opt-out payment, not repeatable product sales. A year earlier, the same line item was just $5.5 million, so the growth reflects a single deal event more than an operating business scaling up. And that opt-out itself cuts both ways: Protagonist gave up its right to develop and commercialize rusfertide on its own, trading full ownership for royalties and milestones that depend on Takeda's execution rather than Protagonist's.
Spending is also set to climb. Management expects research and development costs to increase significantly in the second half of 2026 versus the first half, driven by the new PN-881 Phase 2b program, manufacturing investments, and added headcount. General and administrative costs are rising too, largely on stock-based compensation. And rusfertide's fate still hinges on an FDA decision that hasn't happened yet, priority review or not.
#protagonist
2 months ago
Coty Inc. (NYSE:COTY) traded about 7% lower shortly after its earnings release, with the after-hours decline later approaching 8.5%, as a fourth-quarter revenue beat was accompanied by a wider-than-expected adjusted loss and weaker near-term profit guidance. Revenue increased 1.3% to $1.27 billion, outperforming the consensus forecast for a 4.6% decline. However, the company-defined adjusted loss was $0.02 per share versus the $0.01 consensus loss, like-for-like sales fell 1%, and the reported net loss widened to $141 million.
The larger red flag is visibility. Coty Inc. (NYSE:COTY) expects first-quarter company-defined adjusted earnings of $0.11 to $0.13 per share, below the $0.14 consensus estimate, while like-for-like revenue is projected to decline by a low- to mid-single-digit percentage. Management also withheld fiscal 2027 guidance and described the period as a transition year, even though fiscal 2025 carried the same label.
The revenue beat showed that Coty Inc. (NYSE:COTY) still owns brands with meaningful consumer demand. Fourth-quarter like-for-like sales declined only 1%, improving substantially from the 7% decline in the third quarter. Fragrance demand remains comparatively resilient, supporting a portfolio centered on brands such as Burberry, Hugo Boss, Calvin Klein, Marc Jacobs and Chloé.
Portfolio simplification could also strengthen Coty Inc. (NYSE:COTY)'s balance sheet. Coty received $250 million at the signing of the Gucci Beauty agreement and is due another $150 million by September 30, 2027, subject to a possible holdback of up to $30 million. The immediate proceeds can support debt reduction and investment in core brands. Potential sales of CoverGirl, Rimmel, or other Consumer Beauty **** ets could further reduce complexity and concentrate capital on higher-return prestige fragrances.
The first-quarter outlook leaves Coty Inc. (NYSE:COTY) without a demonstrated earnings inflection point. Management is forecasting another like-for-like sales decline, adjusted earnings below consensus, and no full-year framework. Investors therefore lack a clear bridge between the restructuring program and sustainable earnings or free-cash-flow growth.
#coty #earnings #quarter #revenue
The larger red flag is visibility. Coty Inc. (NYSE:COTY) expects first-quarter company-defined adjusted earnings of $0.11 to $0.13 per share, below the $0.14 consensus estimate, while like-for-like revenue is projected to decline by a low- to mid-single-digit percentage. Management also withheld fiscal 2027 guidance and described the period as a transition year, even though fiscal 2025 carried the same label.
The revenue beat showed that Coty Inc. (NYSE:COTY) still owns brands with meaningful consumer demand. Fourth-quarter like-for-like sales declined only 1%, improving substantially from the 7% decline in the third quarter. Fragrance demand remains comparatively resilient, supporting a portfolio centered on brands such as Burberry, Hugo Boss, Calvin Klein, Marc Jacobs and Chloé.
Portfolio simplification could also strengthen Coty Inc. (NYSE:COTY)'s balance sheet. Coty received $250 million at the signing of the Gucci Beauty agreement and is due another $150 million by September 30, 2027, subject to a possible holdback of up to $30 million. The immediate proceeds can support debt reduction and investment in core brands. Potential sales of CoverGirl, Rimmel, or other Consumer Beauty **** ets could further reduce complexity and concentrate capital on higher-return prestige fragrances.
The first-quarter outlook leaves Coty Inc. (NYSE:COTY) without a demonstrated earnings inflection point. Management is forecasting another like-for-like sales decline, adjusted earnings below consensus, and no full-year framework. Investors therefore lack a clear bridge between the restructuring program and sustainable earnings or free-cash-flow growth.
#coty #earnings #quarter #revenue
2 months ago
The beauty group's repricing rests on a profit plan it controls, while the low end of its new sales guidance is no faster than the year just ended.
Estee Lauder Companies (EL) stock rose 18.4% over the past week, while the S&P 500 slipped 1.4%. The jump came on Wednesday, when the beauty group reported its fiscal 2026 results and raised its profit margin outlook for fiscal 2027. That raise is what the week was about, and the profit behind it is being driven by overhead cost reductions and structural operational savings.
Beauty did not move as a block: Coty fell 3.9% over the same week, and e.l.f. Beauty's 11.5% gain is well short of Estee Lauder's 18.4%. The quarter itself beat, with fiscal Q4 2026 revenue of $3.6 billion, up 6% year over year and ahead of an ***** yst estimate of $3.54 billion. The forward sales plan moved less. Organic sales grew 3% in fiscal 2026, and management guided fiscal 2027 organic growth of 3% to 5%—meaning no acceleration at the low end.
Operating margin before restructuring charges reached 11.2% in fiscal 2026, up 320 basis points, and management now expects 12.7% to 13.5% in fiscal 2027, a further 150 to 230 basis points, with the top end above its own preliminary view a quarter earlier. A large part of that next step is SG&A rather than gross margin, according to CFO Akhil Shrivastava on the earnings call. The Profit Recovery and Growth Plan carried $823 million of ***** ulative charges in fiscal 2026, mostly employee-related, and it shows in the operation: media buying in most markets has moved to WPP, and freestanding M·A·C stores have closed where productivity per door did not justify them.
Cash from operations was $1.8 billion in fiscal 2026. For fiscal 2027 management guides $1.3 billion to $1.4 billion, a step down it attributes to higher restructuring payments and working capital, with debt paydown and the dividend first in line. So the margin the market just repriced is still being paid for. The company's net margin is 1.2%, better than its three-year average of -1.0%, and revenue has only just turned up after averaging -1.7% growth over three years. A company still paying for its own profitability is a different proposition from the Trefis High Quality Portfolio, which holds businesses that already grow, earn strong margins and generate cash.
#Growth
Estee Lauder Companies (EL) stock rose 18.4% over the past week, while the S&P 500 slipped 1.4%. The jump came on Wednesday, when the beauty group reported its fiscal 2026 results and raised its profit margin outlook for fiscal 2027. That raise is what the week was about, and the profit behind it is being driven by overhead cost reductions and structural operational savings.
Beauty did not move as a block: Coty fell 3.9% over the same week, and e.l.f. Beauty's 11.5% gain is well short of Estee Lauder's 18.4%. The quarter itself beat, with fiscal Q4 2026 revenue of $3.6 billion, up 6% year over year and ahead of an ***** yst estimate of $3.54 billion. The forward sales plan moved less. Organic sales grew 3% in fiscal 2026, and management guided fiscal 2027 organic growth of 3% to 5%—meaning no acceleration at the low end.
Operating margin before restructuring charges reached 11.2% in fiscal 2026, up 320 basis points, and management now expects 12.7% to 13.5% in fiscal 2027, a further 150 to 230 basis points, with the top end above its own preliminary view a quarter earlier. A large part of that next step is SG&A rather than gross margin, according to CFO Akhil Shrivastava on the earnings call. The Profit Recovery and Growth Plan carried $823 million of ***** ulative charges in fiscal 2026, mostly employee-related, and it shows in the operation: media buying in most markets has moved to WPP, and freestanding M·A·C stores have closed where productivity per door did not justify them.
Cash from operations was $1.8 billion in fiscal 2026. For fiscal 2027 management guides $1.3 billion to $1.4 billion, a step down it attributes to higher restructuring payments and working capital, with debt paydown and the dividend first in line. So the margin the market just repriced is still being paid for. The company's net margin is 1.2%, better than its three-year average of -1.0%, and revenue has only just turned up after averaging -1.7% growth over three years. A company still paying for its own profitability is a different proposition from the Trefis High Quality Portfolio, which holds businesses that already grow, earn strong margins and generate cash.
#Growth
2 months ago
Aug 19 (Reuters) - Coty on Wednesday posted a surprise increase in fourth-quarter revenue on resilient demand for fragrances and cosmetics, and said fiscal 2027 would be a "transition year" as it conducts a strategic review to focus on its key brands.
The company is advancing its "Coty. Curated." strategy to simplify its business and conducting a review of the consumer beauty division, at a time when geopolitical conflicts and economic uncertainty have made customers tighten spending.
The review, expected to complete by year-end, could lead to the sale of brands such as CoverGirl and Rimmel.
The initiative, along with a cost-reduction program, would help offset a likely sales hit in fiscal 2028 from its early return of Gucci Beauty license to Kering , and support profit growth from fiscal 2029, Coty said.
Coty's net revenue rose 1.3% to $1.27 billion in the quarter ended June 30, compared with ******* ysts' average estimate of a 4.6% decline, according to data compiled by LSEG.
#wednesday
The company is advancing its "Coty. Curated." strategy to simplify its business and conducting a review of the consumer beauty division, at a time when geopolitical conflicts and economic uncertainty have made customers tighten spending.
The review, expected to complete by year-end, could lead to the sale of brands such as CoverGirl and Rimmel.
The initiative, along with a cost-reduction program, would help offset a likely sales hit in fiscal 2028 from its early return of Gucci Beauty license to Kering , and support profit growth from fiscal 2029, Coty said.
Coty's net revenue rose 1.3% to $1.27 billion in the quarter ended June 30, compared with ******* ysts' average estimate of a 4.6% decline, according to data compiled by LSEG.
#wednesday
2 months ago
We're officially in the middle of the training camp edition of the Pittsburgh Steelers' countdown to kickoff. With fans needing to wait only 24 more days until the Steel City brand of football returns when the Steelers host the Atlanta Falcons on September 13, we'll take a look at the most recent and best players to ever wear No. 24.
Porter, a standout cornerback who's currently on the physically unable to perform list, is the No. 24 wearer on the Steelers roster.
Joey Porter Jr., 2023-present
Benny Snell Jr., 2019-2022
Coty Sensabaugh, 2017-2018
#porter
Porter, a standout cornerback who's currently on the physically unable to perform list, is the No. 24 wearer on the Steelers roster.
Joey Porter Jr., 2023-present
Benny Snell Jr., 2019-2022
Coty Sensabaugh, 2017-2018
#porter
4 months ago
Las Vegas — The Detroit Pistons began their five-game Summer League schedule with a 101-91 loss to the Philadelphia 76ers on Thursday night at ***** Pavilion in Las Vegas.
Isaac Jones led the Pistons with 22 points, five rebounds, and two blocks. He tied the game at 85 with a layup at the 3:56 mark of the fourth quarter. However, on the 76ers' next offensive possession, rookie guard Labaron Philon scored an And-1 basket, giving Philadelphia the momentum they needed to close out the game. Philon scored 18 points.
Rookie guard Ebuka Okorie had a solid debut for the Pistons, finishing with 20 points on 8-of-14 shooting with two made triples. He scored nine points in the third quarter alone.
This is a developing story. Check back for more updates.
coty.davisdetroitnews.com
Isaac Jones led the Pistons with 22 points, five rebounds, and two blocks. He tied the game at 85 with a layup at the 3:56 mark of the fourth quarter. However, on the 76ers' next offensive possession, rookie guard Labaron Philon scored an And-1 basket, giving Philadelphia the momentum they needed to close out the game. Philon scored 18 points.
Rookie guard Ebuka Okorie had a solid debut for the Pistons, finishing with 20 points on 8-of-14 shooting with two made triples. He scored nine points in the third quarter alone.
This is a developing story. Check back for more updates.
coty.davisdetroitnews.com
4 months ago
Detroit — The Detroit Pistons traded Caris LeVert and two second-round picks to the Milwaukee Bucks for forward Taurean Prince and guard Gary Harris on Tuesday evening, a source familiar with the trade negotiation confirmed to The Detroit News.
By making the trade, the Pistons created a $15.0 million trade exception. LeVert appeared in 60 games during his lone season with the Pistons during the 2025-26 campaign. He averaged 7.4 points on 41.7% shooting from the field and 2.7 ****** ists.
This is a developing story. Check back for more updates.
coty.davisdetroitnews.com
cotydavis_24
By making the trade, the Pistons created a $15.0 million trade exception. LeVert appeared in 60 games during his lone season with the Pistons during the 2025-26 campaign. He averaged 7.4 points on 41.7% shooting from the field and 2.7 ****** ists.
This is a developing story. Check back for more updates.
coty.davisdetroitnews.com
cotydavis_24
