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Sep 29, 2024
Kenvue Q3 2024 Earnings Report
Kenvue's Q3 2024 earnings were reported, revealing a slight decrease in net sales but growth in organic sales, driven by value realization. Increased marketing investment, fueled by gross profit margin expansion and savings, impacted EPS, while the company reaffirms its adjusted EPS outlook for 2024.
Key Takeaways
Kenvue reported a slight decrease in net sales of 0.4% to $3.9 billion, but organic growth increased by 0.9%. The company's diluted EPS was $0.20, and adjusted diluted EPS was $0.28. They are reaffirming their outlook for Adjusted diluted earnings per share in the range of $1.10-$1.20.
Net sales decreased 0.4% to $3.9 billion; organic growth was 0.9%.
Gross profit margin expanded, and savings fueled increased marketing investment.
Diluted EPS was $0.20; adjusted diluted EPS was $0.28.
The company expects Net sales growth and Organic growth toward the low end of its outlook of 1.0%-3.0% and 2.0%-4.0%, respectively.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
For 2024, assuming an approximately 1% currency headwind, the Company expects Net sales growth and Organic growth toward the low end of its outlook of 1.0%-3.0% and 2.0%-4.0%, respectively. The Company reaffirms its outlook for Adjusted diluted earnings per share in the range of $1.10-$1.20, which continues to reflect strong productivity and efficiency gains that are funding sustained incremental investment in brand activation.
Positive Outlook
- Strong productivity
- Efficiency gains
- Sustained incremental investment in brand activation.
- Adjusted diluted earnings per share in the range of $1.10-$1.20
- Savings from Our Vue Forward
Challenges Ahead
- Approximately 1% currency headwind
- Net sales growth toward the low end of its outlook of 1.0%-3.0%
- Organic growth toward the low end of its outlook of 2.0%-4.0%
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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