Kenvue Inc (KVUE): KVUE 2Q23 results (announced 7/20/23)…...

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Thursday, 08/24/2023 9:22:31 PM

Thursday, August 24, 2023 9:22:31 PM

KVUE 2Q23 results (announced 7/20/23)…

2Q23 sales of $4.0B were +5.4% YoY. Organic sales YoY growth (which excludes the effects of FX, acquisitions, and divestitures) was +7.7%, consisting of +9.4% from price/mix and -1.9% from volume (due in part to the discontinuation of personal care products in Russia).

2Q23 non-GAAP net income was $581M, -21% YoY due in large part to a higher effective tax rate. 2Q23 non-GAAP EPS was $0.32.

Guidance for the full 2023 calendar year is: YoY sales growth of 4.5-5.5%; and YoY organic sales growth of 5.5-6.5%. On a longer-term basis, KVUE expects sales growth of 3-4%.

PR:
https://investors.kenvue.com/financial-news/news-details/2023/Kenvue-Debuts-with-Strong-Second-Quarter-2023-Results/default.aspx

CC slides:
https://s202.q4cdn.com/991673667/files/doc_financials/2023/q2/Kenvue-Q2-2023-Earnings-Presentation.pdf

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