Kenvue (US:KVUE)2024-11-07 13:11Financial Performance Highlights - Kenvue reported Q2 2024 net sales of $4.0 billion, remaining flat compared to Q2 2023[8] - Organic growth reached +1.5% in Q2 2024, following a +7.7% growth in Q2 2023[5, 8] - Adjusted gross profit margin increased by 410 basis points year-over-year, rising from 57.5% to 61.6%[5] - Adjusted operating income margin was 22.8% in Q2 2024, a decrease of 30 basis points compared to 23.1% in Q2 2023[40] - Reported net income for Q2 2024 was $58 million, significantly lower than the $430 million reported in Q2 2023[42] - Adjusted net income for Q2 2024 was $611 million, compared to $574 million in Q2 2023[42] - Reported diluted earnings per share was $0.03, while adjusted diluted earnings per share was $0.32[42] Segment Performance - Self Care net sales were $1.6 billion, a decrease from $1.7 billion in Q2 2023, with organic growth declining by 0.2%[8] - Skin Health & Beauty net sales were $1.1 billion, remaining flat compared to Q2 2023, with organic growth declining by 2.4%[8] - Essential Health net sales increased to $1.3 billion from $1.2 billion in Q2 2023, with organic growth increasing by 7.6%[8] Guidance - The company maintains its guidance for reported net sales growth of 1.0% - 3.0% and organic growth of 2.0% - 4.0%[44]