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)
Copyright (c) 2025 Dow Jones & Company, Inc.
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.