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.
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.
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