By Rob Curran

Kenvue, the Johnson & Johnson spinoff that makes Tylenol and Benadryl, logged earnings growth ahead of expectations, named a new chief financial officer and boosted its sales-growth projection for the year, while warning that foreign-exchange would weigh on adjusted earnings.

The Skillman, N.J., drug maker on Thursday logged earnings of $322 million, or 17 cents a share, up from $296 million, or 15 cents a share, a year earlier.

Excluding certain one-off items, Kenvue posted adjusted earnings of 24 cents a share, edging the mean Wall Street estimate of 23 cents a share, according to FactSet.

Sales fell 3.9% to $3.74 billion, compared with the average analyst target of $3.68 billion, as per FactSet.

Kenvue said it has plans to mitigate tariff impacts.

Kenvue named Kellanova Chief Financial Officer Amit Banati to that role at the over-the-counter drug maker, replacing current financial chief Paul Ruh, effective May 12. Banati has worked in executive and financial positions in the consumer-products industry for 30 years, Kenvue said.

For 2025, Kenvue reduced its adjusted earnings per-share growth target, and now anticipates about flat, compared to a prior estimated range of flat-to-up-2%. That forecast includes negative foreign-exchange impact. Kenvue boosted its estimate for sales growth to a range of 1%-to-3% from a prior projection of down 1% to up 1%.

Write to Rob Curran at rob.curran@wsj.com

(END) Dow Jones Newswires

May 08, 2025 07:25 ET (11:25 GMT)

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