Johnson & Johnson (JNJ) just unveiled an announcement.
The Company has unveiled a Proposed Plan to settle all current and potential future ovarian cancer claims from cosmetic talc litigation in the U.S. by paying around $6.475 billion over 25 years. This settlement has led to an additional $2.7 billion charge, raising the total reserve to roughly $11 billion in present value. Consequently, the Company’s net earnings for the first fiscal quarter of 2024 have been adjusted downward from $5.4 billion to $3.3 billion, with EPS dropping from $2.20 to $1.34, though there’s no change to the Adjusted Earnings and Adjusted EPS.
Learn more about JNJ stock on TipRanks’ Stock Analysis page.
