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$KVUE (+0.48%) | Kenvue Q3 '24 Earnings Highlights:


๐Ÿ”น Adj EPS: $0.28 (Est. $0.27) ๐ŸŸข

๐Ÿ”น Revenue: $3.9B (Est. $3.92B) ๐Ÿ˜; DOWN -0.4% YoY

๐Ÿ”น Organic Sales Growth: +0.9% YoY


FY24 Guidance:

๐Ÿ”น Adj EPS: $1.10-$1.20 (Est. $1.14) ๐ŸŸก

๐Ÿ”น Net Sales Growth: Toward low end of 1.0%-3.0%

๐Ÿ”น Organic Sales Growth: Toward low end of 2.0%-4.0%


Other Key Q3 Metrics:

๐Ÿ”น Adj Gross Profit Margin: 60.7%, UP 130 bps YoY

๐Ÿ”น Adj Operating Income Margin: 22.1%, DOWN from 23.3% YoY

๐Ÿ”น Adj Effective Tax Rate: 28.9%, UP from 25.3% YoY


Operational Highlights:

๐Ÿ”ธ Gross margin expansion attributed to productivity gains and global supply chain efficiency initiatives.

๐Ÿ”ธ Increased brand investment, supported by Our Vue Forward savings, to drive share gains in Self Care and Essential Health growth.

๐Ÿ”ธ Foreign currency headwinds impacted net sales growth by -1.3%, with 2.5% value realization from pricing offset by a -1.6% volume decline, primarily in Skin Health and Beauty.


CEO Thibaut Mongon's Commentary:

๐Ÿ”ธ "Our reinvestment in iconic brands is driving share gains and setting a strong foundation in Skin Health and Beauty. Our Vue Forward is allowing us to transform into a leaner, more agile consumer health organization, positioning us for sustainable and profitable growth."


Interest and Financials:

๐Ÿ”น Interest Expense, Net: $96M

๐Ÿ”น Capital Allocations focused on brand activation, backed by strong productivity and efficiency improvements

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