NYSE$KVUE
Kenvue Inc · Q2 2023 earnings
Q2 2023 earnings · · Investor relations
Briefing
Kenvue reported strong second quarter 2023 results with increased net sales and organic growth across segments and geographic regions.
Kenvue's second quarter results showed a 5.4% increase in net sales to $4.0 billion, with organic growth of 7.7%. The company reported EPS of $0.23 and adjusted EPS of $0.32. Kenvue also initiated a quarterly cash dividend.
- Net sales increased by 5.4% to $4.0 billion compared to the prior year period.
- Organic growth increased by 7.7%, driven by value realization and increased demand in Pain Care and Cough, Cold and Flu categories.
- Reported EPS was $0.23, and adjusted EPS was $0.32.
- The Board of Directors declared a $0.20 cash dividend for the third quarter.
Headline financials
Revenue & EPS history
Kenvue · Revenue · Quarterly
$3.96B
Revenue by segment
Kenvue · $4.01B total across 3 segments · Q2 2023
- Self Care$1.66B+12.2%41.4%
- Essential Health$1.2B+0.5%30.0%
- Skin Health & Beauty$1.15B+1.9%28.6%
Forward guidance
Kenvue expects fiscal 2023 reported Net sales growth to be in the range of 4.5 to 5.5 percent and Organic growth in the range of 5.5 to 6.5 percent. Adjusted earnings per share to be in the range of $1.26 - $1.31.
Tailwinds
- Net sales growth to be in the range of 4.5 to 5.5 percent.
- Organic growth in the range of 5.5 to 6.5 percent.
- Adjusted interest expense, net is expected to be approximately $300 million.
- Adjusted effective tax rate between 24.5% - 25.5%.
- Adjusted earnings per share to be in the range of $1.26 - $1.31.
Headwinds
- Foreign exchange is expected to be a headwind of approximately one percentage point to reported Net sales growth.
- Reported Interest expense, net to be approximately $270 million.
- The reported effective tax rate to be between 34.5% - 35.5%.
- Unpredictability of the timing and amounts of discrete items such as acquisitions, divestitures or the impact of stock-based compensation transferring from Johnson & Johnson upon separation, which could significantly impact GAAP results.
- High cold and flu incidence rates which benefited the Self Care portfolio through the first half of 2023.
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 Q2 2023
+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