Kenvue’s Healthy Q2 2023: Revenue Up 5.4%, Introduces Quarterly Cash Dividend

Kenvue’s Healthy Q2 2023: Revenue Up 5.4%, Introduces Quarterly Cash Dividend

THE WHAT?  Kenvue Inc. reported a net sales increase of 5.4% to $4 billion in Q2 2023, along with 7.7% organic growth. A new quarterly cash dividend was also introduced.

THE DETAILS?  Value realisation, increased demand in specific health product categories, and gains in sun care drove the growth. Gross profit margin was 55.5%, with an adjusted EBITDA margin of 24.5%. The adjusted earnings per share stood at $0.32.

THE WHY?  For 2023, Kenvue expects net sales growth between 4.5% and 5.5% and organic growth between 5.5% and 6.5%. They predict a reported interest expense of around $270 million and an adjusted effective tax rate of 24.5% to 25.5%. The projected adjusted earnings per share range from $1.26 to $1.31.

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