NYSE$KVUE
Kenvue Inc · Q3 2023 earnings
Q3 2023 earnings · · Investor relations
Briefing
Kenvue reported healthy third quarter results, with net sales increasing and organic growth driven by self-care segment.
Kenvue reported a 3.3% increase in net sales to $3.9 billion and a 3.6% increase in organic growth for the third quarter of 2023. The company's performance was driven by strength in the Self Care segment, while facing challenges from portfolio rationalization and market softness in China. The company has tightened its full year outlook due to foreign exchange headwinds and a slow start to the cough, cold, and flu season.
- Net sales increased by 3.3% to $3.9 billion, with organic growth of 3.6%.
- Reported diluted EPS was $0.23, and adjusted diluted EPS was $0.31.
- Gross profit margin was 57.5%, and adjusted gross profit margin was 59.4%.
- The Board of Directors declared a $0.20 cash dividend per share payable in the fourth quarter and authorized a share repurchase program.
Headline financials
Revenue & EPS history
Kenvue · Revenue · Quarterly
$3.82B
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 tightened its net sales outlook expecting fiscal 2023 reported Net sales growth to be in the range of 4.0% to 4.5% and Organic growth to be in the range of 5.5% to 6.0%.Kenvue expects fiscal 2023 Adjusted diluted earnings per share to be in the range of $1.26 to $1.28.
Tailwinds
- Expecting fiscal 2023 reported Net sales growth to be in the range of 4.0% to 4.5%.
- Expecting Organic growth to be in the range of 5.5% to 6.0%.
- Adjusted interest expense, net to be approximately $300 million.
- Kenvue expects reported Effective tax rate to be between 25.5% to 26.5%.
- Adjusted diluted earnings per share to be in the range of $1.26 to $1.28.
Headwinds
- Foreign exchange is now expected to be a headwind to reported Net sales growth of approximately one to two percentage points.
- Reflecting a softer than anticipated start to the cough, cold and flu season.
- Increased foreign exchange headwinds vs prior outlook.
- full year 2023 diluted weighted average share count of 1.852 billion.
- Kenvue is not able to provide GAAP measures or reconcile certain non-GAAP financial measures, other than Adjusted interest expense, net, to comparable GAAP measures on a forward-looking basis without unreasonable efforts given the unpredictability of the timing and amounts of discrete items such as acquisitions or divestitures.
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 Q3 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 | — | — | — |
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