Kenvue Lowers FY23 Adj. EPS Outlook To $1.26 - $1.28 ($1.26 - $1.31 Prior) Vs. $1.28 Estimate
Portfolio Pulse from Benzinga Newsdesk
Kenvue has revised its FY23 adjusted EPS outlook to $1.26 - $1.28, down from the previous $1.26 - $1.31. The company cites a softer start to the cough, cold, and flu season and increased impact of foreign exchange as reasons for the adjustment. Kenvue also expects FY23 net sales growth to be between 4.0% and 4.5%, and organic growth to be between 5.5% and 6.0%. The company's interest expense for FY23 is expected to be around $270 million, with an adjusted interest expense of approximately $300 million.
October 26, 2023 | 10:37 am
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Kenvue's lowered FY23 EPS outlook could potentially impact the company's stock price negatively in the short term. The revised outlook is due to a softer start to the flu season and increased foreign exchange impact.
Kenvue's revised FY23 EPS outlook is a key indicator of the company's expected profitability. A lower outlook could potentially lead to a decrease in the company's stock price as it indicates that the company expects to earn less per share than previously anticipated. This is particularly relevant given that the revision is due to factors such as a softer start to the flu season and increased foreign exchange impact, which could continue to affect the company's earnings.
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IMPORTANCE 80
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