$KVUE (-1.89%) | Kenvue Q3 '24 Earnings Highlights:
๐น Adj EPS: $0.28 (Est. $0.27) ๐ข
๐น Revenue: $3.9B (Est. $3.92B) ๐; DOWN -0.4% YoY
๐น Organic Sales Growth: +0.9% YoY
FY24 Guidance:
๐น Adj EPS: $1.10-$1.20 (Est. $1.14) ๐ก
๐น Net Sales Growth: Toward low end of 1.0%-3.0%
๐น Organic Sales Growth: Toward low end of 2.0%-4.0%
Other Key Q3 Metrics:
๐น Adj Gross Profit Margin: 60.7%, UP 130 bps YoY
๐น Adj Operating Income Margin: 22.1%, DOWN from 23.3% YoY
๐น Adj Effective Tax Rate: 28.9%, UP from 25.3% YoY
Operational Highlights:
๐ธ Gross margin expansion attributed to productivity gains and global supply chain efficiency initiatives.
๐ธ Increased brand investment, supported by Our Vue Forward savings, to drive share gains in Self Care and Essential Health growth.
๐ธ 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:
๐ธ "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:
๐น Interest Expense, Net: $96M
๐น Capital Allocations focused on brand activation, backed by strong productivity and efficiency improvements