Kenvue’s first results are solid, dividend initiated

Kenvue (NYSE:) shares traded modestly higher in pre-market Thursday after the healthcare business delivered its first quarterly earnings report as an independent company.

Kenvue net sales for the second quarter of $4.01 billion, up 5.4% year-over-year, and a gross profit of $2.23B. Reported earnings per share came in at 23 cents.

“Our second quarter results mark a strong debut for Kenvue, reflecting the strength of our portfolio of iconic brands, the agility of our operating model and the strong execution of our 22,000 team members while navigating a dynamic environment,” said Thibaut Mongon, Chief Executive Officer and Director.

The company also introduced a full-year outlook. It sees net sales growth of 4.5-5.5%. The adjusted EPS range is seen between $1.26 and $1.31.

Kenvue also initiated a quarterly cash dividend at 20c per share.