•
Dec 31, 2023
Kenvue Q4 2023 Earnings Report
Kenvue's Q4 2023 results were announced, with net sales decreasing by (2.7)% and diluted earnings per share at $0.17.
Key Takeaways
Kenvue reported a decrease in net sales by (2.7)% to $3.7 billion with organic growth declining by (2.4)% in Q4 2023. Diluted earnings per share stood at $0.17, while adjusted diluted earnings per share was $0.31.
Net sales decreased by (2.7)% to $3.7 billion with organic growth declining by (2.4)%.
Diluted earnings per share was $0.17; adjusted diluted earnings per share was $0.31.
Gross profit margin increased to 55.7% compared to 54.3% in the prior year period.
Adjusted operating income margin was 21.8% versus 19.9% in the prior year period.
Kenvue
Kenvue
Kenvue Revenue by Segment
Forward Guidance
Kenvue expects full year 2024 reported Net sales growth to be in the range of 1.0%to 3.0%.
Positive Outlook
- 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.
- Organic growth in the range of 2.0% to 4.0% with Organic growth sequentially improving as the year progresses as prior year comparisons ease
- Impact of 2024 strategic priorities take hold
- Adjusted diluted earnings per share to be in the range of $1.10 - $1.20.
Challenges Ahead
- Potential for a continued challenging macro-back drop
- Possibility for unknowns in seasonal businesses
- Adjusted operating income margin to be slightly below 2023
- Impact of absorbing a full year of public company costs
- 50 basis points of foreign currency headwinds
Revenue & Expenses
Visualization of income flow from segment revenue to net income