$KVUE (+0.92%) | Kenvue Q3 '24 Earnings Highlights:

🔹 Adj EPS: $0.28 (Est. $0.27) 🟢

🔹 Revenue: $3.9B (Est. $3.92B) 😐; DOWN -0.4% YoY

🔹 Organic Sales Growth: +0.9% YoY

FY24 Guidance:

🔹 Adj EPS: $1.10-$1.20 (Est. $1.14) 🟡

🔹 Net Sales Growth: Toward low end of 1.0%-3.0%

🔹 Organic Sales Growth: Toward low end of 2.0%-4.0%

Other Key Q3 Metrics:

🔹 Adj Gross Profit Margin: 60.7%, UP 130 bps YoY

🔹 Adj Operating Income Margin: 22.1%, DOWN from 23.3% YoY

🔹 Adj Effective Tax Rate: 28.9%, UP from 25.3% YoY

Operational Highlights:

🔸 Gross margin expansion attributed to productivity gains and global supply chain efficiency initiatives.

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

🔸 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:

🔸 "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:

🔹 Interest Expense, Net: $96M

🔹 Capital Allocations focused on brand activation, backed by strong productivity and efficiency improvements