Neutrogena parent Kenvue Q3 sales decrease 0.4%

Kenvue Inc. announced on Thursday third quarter net sales decreased 0.4% to $3.89 billion, on the back of falling skin health and beauty segment sales. 

By segment, the self-care segment and essential health segment climbed 0.7% year-over-year to $1.63 billion in net sales, and 1.6% to $1.20 billion, respectively. Meanwhile, the skin health and beauty segment recorded a 4.2% drop in third-quarter net sales to $1.07 billion.

Kenvue-owned brands include Neutrogena, Aveeno, Band-Aid Brand, Johnson’s, Listerine, and Tylenol.

“During the third quarter, we continued to drive strong productivity and realize efficiency benefits from Our Vue Forward, which we are reinvesting behind our iconic brands to unleash the full potential of our business and fulfill our commitment to create long-term shareholder value,” said Thibaut Mongon, chief executive officer. 

“This reinvestment is enabling us to continue to drive share gains in Self Care, deliver broad-based growth across the Essential Health categories, and build the right foundation in Skin Health and Beauty, where we are seeing early signs of recovery.”

Third quarter diluted earnings per share were $0.20 compared to. $0.23 in the prior year period.

Looking ahead, the company expects net sales growth and organic growth toward the low end of its outlook of 1%-3% and 2%-4%, respectively. The company reaffirmed its outlook for adjusted diluted earnings per share in the range of $1.10-$1.20.