BUSINESS Johnson & Johnson Reports Q4 Sales Decline But Shows Growth Over 2022 Full Year By Staff Wednesday, January 25, 2023 12:21 AM NEW BRUNSWICK, N.J.—Johnson & Johnson (NYSE: JNJ) reported Tuesday that its total group sales for the fourth quarter of 2022 declined 4.4 percent with full-year sales growth of 1.3 percent. J&J's overall sales totaled $23.7 billion in the fourth quarter, and $94.9 billion for the full year 2022. On an operational growth basis, sales increases were 4.6 percent and 6.1 percent, respectively. The 2022 full-year sales growth of 1.3 percent to $94.9 billion was primarily driven by strong commercial execution partially offset by unfavorable foreign exchange, according to the company.The fourth quarter sales decline was primarily driven by unfavorable foreign exchange and reduced COVID-19 vaccine sales versus prior year.“Our full year 2022 results reflect the continued strength and stability of our three business segments, despite macroeconomic challenges,” said Joaquin Duato, chairman of the board and chief executive officer. “I am inspired by our employees who make a difference in the health and lives of people around the world every day. As we look ahead to 2023, Johnson & Johnson is well-positioned to drive near-term growth, while also investing strategically to deliver long-term value.”Worldwide MedTech sales increased 1.4 percent for the full year 2022 to $27.4 billion but declined 1.2 percent in the fourth quarter.In the J&J Vision segment, the company reported 3.1 percent U.S. sales growth for the fourth quarter and 7.2 percent for the full year. Worldwide sales declined 2.2 percent in the fourth quarter but saw growth of 3.4 percent for the full year.Reported sales for the contact lens segment declined 0.2 percent worldwide in the fourth quarter, despite an 8.6 percent growth in the U.S. For the 2022 full year, the segment saw a 3.0 percent worldwide growth compared to 2021 and U.S. sales growth of 8.9 percent.Looking ahead, J&J expects adjusted operational sales growth excluding COVID-19 vaccine of 4.0 percent in 2023, with adjusted operational earnings per share (EPS) growth of 3.5 percent.