Consumer health company Kenvue, Inc. (KVUE), while reporting second-quarter profit above market estimates and net sales below the Street, on Thursday trimmed its fiscal 2025 outlook. The company now expects earnings below the market consensus, with lower net sales.
Further, the company announced the appointment of Michael (Mike) Wondrasch as its new Chief Technology & Data Officer effective August 25. He will succeed Bernardo Tavares, who will remain with the company through August 29.
In the pre-market activity, Kenvue shares were losing around 0.5 percent to trade at $21.33.
Regarding the outlook revision, Amit Banati, Chief Financial Officer, said, "We are adjusting our outlook for 2025 to reflect the year-to-date results, as well as our current expectations for the second half of the year, considering the dynamic external environment and underlying business fundamentals."
For fiscal 2025, the company now projects adjusted earnings per share in the range of $1.00 to $1.05, including a low-single-digit unfavorable impact from foreign currency.
The Wall Street analysts on average expect the company to report earnings of $1.13 per share. Analysts' estimates typically exclude special items.
The company previously projected adjusted earnings to be flat with last year. In fiscal 2024, earnings per share were $0.54, and adjusted earnings per share were $1.14.
Further, the company now projects adjusted operating income margin to decline year-over-year, and net sales and organic sales to be down low-single-digits.
Previously, the company projected net sales growth of 1 to 3 percent, with organic sales growth of 2 to 4 percent.
In its second quarter, Kenvue's net income totaled $420 million or $0.22 per share, compared to $58 million or $0.03 per share last year.
Adjusted earnings were $0.29 per share for the period, compared to $0.32 in the prior year period.
The company's net sales for the period fell 4.0 percent to $3.84 billion from $4.00 billion last year.
Analysts expected earnings of $0.28 per share on sales of $3.85 billion for the quarter.
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