Kenvue sees FY24 adjusted EPS $1.10-$1.20, consensus $1.26

Sees FY24 sales growth 1%-3%, consensus $15.93B. Kenvue expects full year 2024 reported Net sales growth to be in the range of 1.0% to 3.0%. Foreign exchange is expected to be a headwind of approximately one percentage point to reported Net sales growth. The Company expects full year 2024 Organic growth in the range of 2.0% to 4.0% with Organic growth sequentially improving as the year progresses as prior year comparisons ease and the impact of 2024 strategic priorities take hold. “Our 2024 priorities are clear,” said Paul Ruh, Chief Financial Officer. “As we accelerate investment behind our brands, particularly focused on in-store presence and prominence, enhancing consumer engagement, and amplify innovation, we expect our operating model optimization initiatives to generate impact in the second half of the year. While we are confident in our plans, our guidance prudently reflects the potential for a continued challenging macro-back drop and the possibility for unknowns in our seasonal businesses.”