financetom
Business
financetom
/
Business
/
Listerine maker Kenvue beats estimates on strong essential health product sales
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Listerine maker Kenvue beats estimates on strong essential health product sales
Aug 6, 2024 4:34 AM

Aug 6 (Reuters) - Kenvue ( KVUE ) beat Wall Street

estimates for second-quarter profit and revenue on Tuesday,

helped primarily by better-than-expected sales in its essential

health products unit that sells brands including Band-Aid,

Listerine and Carefree.

Investor expectations from the consumer health company,

which Johnson & Johnson ( JNJ ) spun off last year, have been

low due to weak uptake for its self-care and skin health

products. Its essential health business, however, has been a

bright spot.

The essential health unit recorded $1.26 billion in revenue

for the second quarter, up nearly 5% from a year earlier and

above analysts' average estimate of $1.24 billion, according to

LSEG data.

Essential health's adjusted operating income jumped nearly

44% to $359 million, while other segments declined.

Kenvue's ( KVUE ) skin health business, which sells brands such as

Neutrogena and Clean & Clear, was the worst performer, recording

a nearly 4% decline in sales to $1.10 billion, compared with

LSEG estimate of $1.16 billion.

Sales from self-care - its largest segment that houses

Benadryl and Tylenol - slipped 1.6% to $1.64 billion. Analysts,

on average, had expected $1.60 billion.

Kenvue ( KVUE ) has been focusing on improving sales of its skin

health products through increased marketing spend and in-store

presence, among other measures.

It raised the marketing spend for this year to up to $400

million from $300 million previously. It's the second time it

lifted the forecast, after a 15% jump in February.

The New Jersey-based company posted total second-quarter

revenue of $4 billion, above LSEG estimates of $3.94 billion.

On an adjusted basis, Kenvue ( KVUE ) posted a profit of 32 cents per

share, beating analysts' estimates by 4 cents.

The company maintained its adjusted profit forecast for the

year at between $1.10 and $1.20 per share.

(Reporting by Sneha S K and Leroy Leo in Bengaluru; Editing by

Shinjini Ganguli)

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Suzlon's S144–3 MW wind turbines get big boost from Indian government
Suzlon's S144–3 MW wind turbines get big boost from Indian government
Nov 15, 2023
Th Suzlon wind turbines received the RLMM (Revised List of Models & Manufacturers) listing from the Ministry of New and Renewable Energy, marking an important milestone for the successful commercialisation of the product. Shares of Suzlon Energy Ltd ended at ₹40.49, up by ₹1.85, or 4.79%, on the BSE.
Tata Power Renewable Energy wins 200-MW project in collaboration with SJVN
Tata Power Renewable Energy wins 200-MW project in collaboration with SJVN
Nov 28, 2023
The firm and dispatchable renewable energy (FDRE) project, designed with a hybrid of solar, wind, and battery storage, is aimed at providing a stable and dispatchable energy supply during peak hours. Shares of Tata Power Company Ltd ended at ₹270.75, up by ₹12.60, or 4.88%, on the BSE.
SJVN secures 200-MW wind power project at ₹3.24 per unit
SJVN secures 200-MW wind power project at ₹3.24 per unit
Nov 16, 2023
Projected to generate 482 million units in its inaugural year post-commissioning, the cumulative energy generation over a 25-year span is anticipated to reach 12,050 million units. Shares of SJVN Ltd ended at ₹75.17, down by ₹0.50, or 0.66%, on the BSE.
This sustainable jewellery brand is luring some women away from gold
This sustainable jewellery brand is luring some women away from gold
Oct 30, 2023
Aulerth's offerings range from ₹5,000 to as high as ₹2.8 lakh. Are women willing to spend this much on jewellery made from scrap? Founder and CEO Vivek Ramabhadran definitely believes so. Aulerth produces couture-inspired pieces in association with designers like JJ Valaya, Suneet Varma, among others. It has reported 33% repeat customers in the past year and expects a spike to 40% soon.
Copyright 2023-2026 - www.financetom.com All Rights Reserved