Companies Kenvue Inc FollowNeutrogena Corporation FollowHaleon Plc Follow Show more companiesJuly 20 (Reuters) - Kenvue (KVUE.N), the former consumer health unit of Johnson & Johnson (JNJ.N), forecast full-year profit above Wall Street estimates on Thursday, betting on resilient demand for its skincare and self-care products such as Neutrogena and Tylenol.
Kenvue, in its first results after being spun off from Johnson & Johnson in May, forecast full-year adjusted profit per share between $1.26 and $1.31.
However, adjusted gross profit margin came in at 57.5%, compared to 59.3% a year earlier, dragged by a strong dollar and higher costs.
Meanwhile, J&J raised its 2023 profit forecast on Thursday, banking on the strength in its medical devices business and demand for its cancer drugs such as Darzalex.
Net sales rose 5.4% to $4.01 billion while adjusted profit per share came in at 32 cents.
Persons:
Johnson, Haleon, J, Ananya Mariam Rajesh, Raghav, Devika Syamnath
Organizations:
Johnson, Wall, Thomson
Locations:
Bengaluru