Recently, Kenvue Inc. reported a modest financial performance for the full year ended December 29, 2024, with net sales increasing by 0.1% to $15.5 billion. The company faced softer-than-expected sales growth, reflected in its fourth-quarter results, where net sales declined by 0.1%.
By segment, the self-care and skin health & beauty divisions showed resilience, with year-over-year increases of 2.1% and 1%, reaching $1.59 billion and $1.01 billion in net sales, respectively. However, the essential health segment saw a 4.1% decline in fourth-quarter net sales, totaling $1.08 billion.
The Skin Health & Beauty segment demonstrated strength in key international markets, particularly in EMEA and LATAM, where volume-led double-digit growth drove overall gains. Despite challenges in the U.S., the segment began to see improvements in targeted focus areas.
Despite these challenges, CEO Thibaut Mongon emphasized Kenvue’s ability to meet its 2024 profit commitments and strengthen its competitive position. “We delivered on our 2024 profit commitments despite headwinds that resulted in softer than expected sales growth and we enter 2025 as a more competitive company with stronger foundations,” he stated.
Looking ahead, Kenvue forecasts a 2025 net sales change between -1% and +1% year-over-year, with organic sales growth expected to range from 2% to 4%. The company also projects flat to 2% growth in adjusted diluted earnings per share. CFO Paul Ruh highlighted plans to enhance productivity and operational efficiency, which will support increased brand investments and contribute to adjusted operating margin growth in 2025.
