Kenvue Inc. (KVUE) Reports In-Line Q1 EPS, provides guidance

Kenvue Inc. (NYSE: KVUE) reported Q1 EPS of $0.28, in-line with the analyst estimate of $0.28. Revenue for the quarter came in at $3.9 billion versus the consensus estimate of $3.85 billion.

2024 Outlook

Based on current spot rates, Kenvue reaffirmed its outlook for 2024 as follows:

Net sales and Organic growth

Kenvue expects full year 2024 reported Net sales growth to be in the range of 1.0% to 3.0%. Foreign exchange is expected to be a headwind of approximately one percentage point to reported Net sales growth. The Company continues to expect full year 2024 Organic growth in the range of 2.0% to 4.0%.

Adjusted operating income margin and Adjusted diluted earnings per share

Kenvue continues to expect full year 2024 Adjusted operating income margin to be slightly below 2023 as strong gross margin progression is offset by the impact of absorbing a full year of public company costs and approximately 50 basis points of foreign currency headwinds.

Kenvue continues to expect full year 2024 Adjusted diluted earnings per share to be in the range of $1.10 - $1.20, versus the guidance of $1.15.

This range assumes a full year 2024 diluted weighted average share count of 1.92 billion.

For earnings history and earnings-related data on Kenvue Inc. (KVUE) click here.

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