bullish
Kenvue (KVUE US): Q2 Result Beats Estimates; Initiated 2023 Guidance; J&J Launches Exchange Offer
355 Views30 Jul 2023 18:46
SUMMARY
- Kenvue (KVUE US) reported 5% YoY revenue growth to $4B in 2Q23, driven by continued demand of self-care portfolio, mainly consisting of cough, cold, and allergy, and pain care products.
- The company has guided for 4.5–5.5% revenue growth and EPS of $1.26–1.31 for 2023. Kenvue has declared a cash dividend of $0.20 for 3Q23.
- J&J is offering its shareholders the option to exchange shares for Kenvue's at a 7% discount. The exchange offer is scheduled to close on August 18, 2023.
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Tina Banerjee
Global Healthcare Analyst
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