Sector: Consumer Staples|Industry: Household & Personal Products|Market Cap: $41.24B|Employees: 22K
Kenvue is the world's largest pure-play consumer health company by revenue, operating in over 165 countries. The company's core business model centers around delivering science-backed innovative products, solutions, and experiences in consumer health, with primary revenue streams from its Self Care, Skin Health and Beauty, and Essential Health segments. Kenvue holds leading market positions across numerous large and attractive categories globally, and leverages its flexible distribution network and data-driven customer partnerships.
The company's net sales for the three months ended June 30, 2024 were $4,000 million, compared to $4,011 million for the same period in 2023, representing a decrease of 0.3%. This indicates a lack of growth in the top-line revenue.
Operating income for the three months ended June 30, 2024 was $154 million, compared to $702 million for the same period in 2023, representing a substantial decrease of 78.1%. This is a significant negative variance.
Net income for the three months ended June 30, 2024 was $58 million, compared to $430 million for the same period in 2023, representing a substantial decrease of 86.5%. This indicates a significant drop in profitability.