(Reuters) – Kenvue beat analysts’ expectations for first-quarter profit and revenue on Thursday as strong demand for its cough-and-cold medicines like Tylenol and Benadryl helped offset a fall in demand for its skin health and beauty products.
However, the consumer health firm said it expects annual profit to remain flat year-over-year anticipating higher costs from President Trump’s tariffs on U.S. imports.
Kenvue had previously forecast flat to 2% growth in annual profit.
Shares 4of Kenvue fell 1.1% in premarket trading.
Separately, the company said Amit Banati will replace Paul Ruh as its Chief Financial Officer, effective May 12.
Banati most recently served as the finance chief of Kellanova.
On an adjusted basis, Kenvue earned a profit of 24 cents per share, compared with analysts’ average estimate of 23 per share, according to data compiled by LSEG.
(Reporting by Mariam Sunny in Bengaluru; Editing by Pooja Desai)
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