Kenvue (NYSE:KVUE) announced its third-quarter results that met analyst estimates, but shares fell more than 3% intra-day today.

During the third quarter, the adjusted earnings per share stood at 31 cents, which is less than the expected 32 cents. The revenue for the quarter, totaling $3.92 billion, met analyst forecasts.

Thibaut Mongon, the company’s CEO and Director, emphasized Kenvue’s consistent focus on sustainable and profitable growth. He noted the strong operational outcomes and cash generation, pointing out their leading position in the consumer health sector. Mongon believes these results demonstrate the resilient and enduring foundation they are creating for Kenvue’s long-term advantage.

For the upcoming full year, the company’s projected adjusted earnings per share range from $1.26 to $1.28, which aligns with Street expectations. The expected organic revenue growth is between 5.5% and 6.0%, slightly below the 5.9% growth anticipated by analysts at the midpoint.

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