Kenvue Q2 adjusted EPS $0.32, organic sales +1.5%; reaffirms FY24 outlook

Kenvue Inc.

2024-Q2 EPS reported $0.18 revenue$7,894,000,000

Net sales $4.0B, down 0.3% YoY; organic growth +1.5% (value realization +2.1%, volume -0.6%).
Diluted EPS $0.03; adjusted diluted EPS $0.32 vs $0.31 prior year; adjusted operating margin 22.8% vs 23.1%.
Non-cash impairment charge of $488M ($337M after-tax) on Dr.Ci:Labo assets due to China market dynamics.
FY24 outlook reaffirmed: net sales growth 1%-3%, organic growth 2%-4%, adjusted EPS $1.10-$1.20.
Gross profit margin expanded 360 bps to 59.1%; adjusted gross margin expanded 410 bps to 61.6%.

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