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Kenvue's Sales Miss Estimates Amidst Kimberly-Clark's $48.7 Billion Acquisition
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Heartspace News Desk
•Source: Reuters
Photo by Erik Mclean on Unsplash
TL;DR
Kenvue, the maker of Tylenol, reported lower-than-expected third-quarter net sales of $3.76 billion, a 3.5% decrease impacting its self-care and skin health segments. Shortly after, Kimberly-Clark announced plans to acquire Kenvue for around $48.7 billion, leading to a premarket trading increase of about 20% for Kenvue's shares.
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Key takeaways
- Kenvue, the maker of Tylenol, reported third-quarter net sales of $3
- 5% decrease that fell short of Wall Street estimates of $3
- 84 billion as compiled by LSEG
Kenvue, the maker of Tylenol, reported third-quarter net sales of $3.76 billion, a 3.5% decrease that fell short of Wall Street estimates of $3.84 billion as compiled by LSEG. This announcement coincides with news of Kimberly-Clark's planned acquisition of Kenvue for approximately $48.7 billion.
The sales decline impacted key segments, with the self-care division, encompassing Tylenol and Benadryl, experiencing a 3.8% decrease. Similarly, the skin health segment, featuring brands like Neutrogena and Aveeno, saw a 3.2% reduction in sales.
Since its 2023 spinoff from Johnson & Johnson, Kenvue has navigated challenges, including increased scrutiny surrounding its Tylenol brand. Following the acquisition announcement, Kenvue's shares saw a premarket trading increase of approximately 20%.
Related Topics
KenvueKimberly-Clarkacquisitionsalesmedtech
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