Kenvue Stock Jumps 4% as First-Quarter Results Beat Estimates on Strength in Self Care Unit
(Reuters) - Kenvue beat analysts' expectations for first-quarter profit and revenue on Thursday as strong demand for its cough-and-cold medicines like Tylenol and Benadryl helped offset a fall in demand for its skin health and beauty products.
However, the consumer health firm said it expects annual profit to remain flat year-over-year anticipating higher costs from President Trump's tariffs on U.S. imports.
Kenvue had previously forecast flat to 2% growth in annual profit.
Shares of Kenvue rose 4% in premarket trading.
Separately, the company said Amit Banati will replace Paul Ruh as its Chief Financial Officer, effective May 12.
Banati most recently served as the finance chief of Kellanova K.N.
On an adjusted basis, Kenvue earned a profit of 24 cents per share, compared with analysts' average estimate of 23 per share, according to data compiled by LSEG.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Most Discussed
- 1
- 2
- 3
- 4
- 5
- 6
- 7
- 8
- 9
- 10