Johnson & Johnson (NYSE:JNJ) has been in the headlines this week and for all the wrong reasons. Bloomberg reported on October 5 that the company is close to reaching a settlement in some of the baby powder lawsuits that have plagued it for the last few years. The report claimed that the company would be paying out another $100 million to settle approximately 1,000 cases. Johnson & Johnson has already been ordered to pay $2.1 billion by the courts, and there are still a number of cases pending.

Now, the healthcare and pharmaceutical company is set to report third quarter earnings results on Tuesday. Analysts expect the company to report earnings of $1.96 per share on revenue of $20.06 billion. Both of those figures will represent declines from the third quarter of 2019 if they are accurate. The earnings estimate would mark a decline of 7.5% compared to last year, and the revenue estimate is 3.2% lower than last year.

In the second quarter, JNJ saw earnings drop by 35% compared to 2019, and revenue was down 11%. In recent years, the company has seen both earnings and revenue grow. The EPS has increased by an average of 8% over the last three years, while revenue has grown by 4% per year over that same period.

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