NYSE$KVUE
Kenvue Inc · Q1 2024 earnings
Q1 2024 earnings · · Investor relations
Briefing
Kenvue's Q1 2024 performance reflected a solid start to the year, driven by strategic priorities and strong performance in key segments.
Kenvue reported a 1.1% increase in net sales to $3.9 billion, with organic growth of 1.9%. Diluted earnings per share were $0.15, and adjusted diluted earnings per share were $0.28. The company reaffirmed its fiscal year 2024 outlook.
- Net sales increased by 1.1% to $3.9 billion, with organic growth of 1.9%.
- Diluted earnings per share were $0.15, while adjusted diluted earnings per share reached $0.28.
- Gross profit margin expanded by 240 basis points, driven by value realization and supply chain efficiencies.
- The company reaffirms its outlook for 2024, expecting net sales growth between 1.0% and 3.0%.
Headline financials
Revenue & EPS history
Kenvue · Revenue · Quarterly
$3.89B
Revenue by segment
Kenvue · $3.92B total across 3 segments · Q3 2023
- Self Care$1.61B+6.4%41.2%
- Essential Health$1.18B+3.0%30.2%
- Skin Health & Beauty$1.12B-0.4%28.6%
Forward guidance
Kenvue reaffirmed its outlook for 2024, expecting net sales growth between 1.0% and 3.0% and organic growth between 2.0% and 4.0%. Adjusted diluted earnings per share are expected to be in the range of $1.10 - $1.20.
Tailwinds
- Net sales growth expected between 1.0% and 3.0%.
- Organic growth expected between 2.0% and 4.0%.
- Adjusted operating income margin expected to be slightly below 2023.
- Adjusted diluted earnings per share expected in the range of $1.10 - $1.20.
- Effective tax rate expected between 26.5% to 27.5%.
Headwinds
- Foreign exchange is expected to be a headwind of approximately one percentage point to reported Net sales growth.
- Adjusted operating income margin expected to be slightly below 2023 due to public company costs and foreign currency headwinds.
- Interest expense, net to be approximately $400 million.
- Company expects to incur approximately $275 million of pre-tax restructuring costs in each of fiscal year 2024 and fiscal year 2025.
- Approximately two points of the volume contraction was attributed to the expected lapping of one-time retailer inventory re-builds in the first quarter of 2023 and impacts of retailer inventory reduction in the first quarter of 2024, which the Company expects to continue through the second quarter of 2024.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 13 quarterly earnings reports · overlaid with Q1 2024
+2.0%
Avg return
Earnings day
+3.1%
Avg return
5 days after
+2.8%
Avg return
30 days after
57%
8 / 14 earnings
Positive
+15.7%
Q3 2025
Best reaction
-7.7%
Q3 2023
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +2.0% | -1.2% | +0.2% | |
| Q4 2025 | +0.9% | +2.9% | -5.5% | |
| Q3 2025 | +15.7% | +17.5% | +18.1% | |
| Q2 2025 | +1.5% | +2.1% | -13.2% | |
| Q1 2025 | +4.3% | +2.4% | -6.0% | |
| Q4 2024 | -4.5% | +0.8% | +12.9% | |
| Q3 2024 | +5.2% | +5.1% | +1.5% | |
| Q2 2024 | +13.4% | +15.6% | +23.7% | |
| Q1 2024 | +7.2% | +7.7% | -2.4% | |
| Q4 2022 | -0.2% | +3.1% | +12.9% | |
| Q4 2023 | -5.8% | -6.2% | -2.4% | |
| Q3 2023 | -7.7% | -5.7% | +2.6% | |
| Q2 2023 | -4.0% | +0.5% | -8.5% | |
| Q1 2023 | -0.5% | -0.8% | +4.5% | |
| Q3 2022 | — | — | — | |
| Q2 2022 | — | — | — | |
| Q1 2022 | — | — | — | |
| Q4 2021 | — | — | — |
Discussion
Share your read of this quarter. Sign-in carries your eToro identity.
Join the conversation
Sign in with eToro to post your read of this quarter and vote on others'.
Sign in with eToro