The earnings call reflects a balanced performance with significant achievements in operational efficiencies and certain segments like Essential Health, but also challenges in Skin Health and Beauty and a softer top line growth projection. The transformation efforts and strategic investments in marketing and infrastructure are promising, but the external market conditions and specific segment underperformance present notable challenges.

Company Guidance

During the Kenvue Q3 2024 earnings call, the company provided guidance with several key metrics highlighted. They reported a year-over-year organic growth of 0.9%, despite softer top-line results, and achieved an adjusted diluted earnings per share of $0.28. Kenvue's efforts led to an adjusted gross margin expansion of 130 basis points compared to the previous year. The company is on track to invest approximately 20% more in 2024 than in the previous year, focusing on advertising, direct consumer engagement, and leveraging analytics and AI. Additionally, Kenvue aims to deliver $350 million in annual savings by 2026 through their Vue Forward initiative. For the full year 2024, the company anticipates organic growth towards the low end of the 2% to 4% range and confirms an adjusted diluted earnings per share range of $1.10 to $1.20.

Organic Growth Achieved

Kenvue achieved a year-over-year organic growth of 0.9% in Q3, on top of 3.6% last year, despite a softer top line.

Strong Performance in Essential Health

Essential Health showed organic growth of 4.5% with volume growth for the second consecutive quarter, driven by broad-based growth across all categories and regions.

Gross Margin Expansion

Adjusted gross margin expanded by 130 basis points to 60.7% year-over-year, driven by productivity improvements and favorable value realization.

Successful TSA Exits

Kenvue has exited 70% of its Transition Service Agreements (TSAs) and is on track to fully exit by mid-2025.

Strong Share Gains in Self Care

Self Care segment grew 0.7% and continued to gain share in pain and allergy categories, with Tylenol and Xiotech achieving their ninth and thirteenth consecutive quarters of share gains respectively.

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Kenvue, Inc. (KVUE) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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KVUE Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Feb 06, 2025	2024 (Q4)	0.26 / -	0.31	―	―	―
Nov 07, 2024	2024 (Q3)	0.27 / 0.28	0.31	-9.68% (-0.03)
Aug 06, 2024	2024 (Q2)	0.28 / 0.32	0.32	0.00% (0.00)
May 07, 2024	2024 (Q1)	0.25 / 0.28	0.33	-15.15% (-0.05)
Feb 08, 2024	2023 (Q4)	0.28 / 0.31	0.28	10.71% (+0.03)
Oct 26, 2023	2023 (Q3)	0.31 / 0.31	0.31	0.00% (0.00)
Jul 20, 2023	2023 (Q2)	0.30 / 0.32	0.315	1.59% (<+0.01)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

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KVUE Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Nov 07, 2024	$22.30	$22.77	+2.11%
Aug 06, 2024	$17.86	$20.48	+14.67%
May 07, 2024	$18.54	$19.71	+6.31%
Feb 08, 2024	$19.73	$18.59	-5.78%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

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