J&J Forecast Tops Views, Even Excluding Vaccine; Shares Gain (3)

Johnson & Johnson issued a stronger-than-expected earnings forecast for this year, but its outlook didn’t say how its Covid-19 vaccine, which could be cleared for use in the U.S. soon, would affect its performance.

The health-care giant expects 2021 adjusted earnings per share of $9.49 to $9.60, compared with an average analyst estimate of $8.99.

Strong sales for blockbuster immunology and cancer drugs, as well as consumer-health products such as Tylenol and Listerine, have buoyed the company in recent quarters even as the pandemic hurt sales of medical devices.

J&J will likely adjust its guidance in April, when it reports ...