Kenvue Inc.
Key statistics
from XBRL data in SEC filingsAI briefing
from the latest 10-K, 10-Q and 8-K eventsKenvue is the world's largest pure-play consumer health company by revenue, with $15.1 billion in net sales in fiscal 2025 and a portfolio of iconic brands including Tylenol, Listerine, Neutrogena, and BAND-AID.
What they do
Kenvue develops, markets, and sells consumer health products across three reportable segments: Self Care, Skin Health and Beauty, and Essential Health. Its products are marketed in more than 165 countries across North America, APAC, EMEA, and LATAM. The company operates with a sole focus on consumer health, leveraging science, consumer insights, and digital capabilities.
Revenue drivers
- Self Care — Includes Cough, Cold, and Allergy; Pain Care; and Other Self Care (Digestive Health, Smoking Cessation, Eye Care). Major brands include Tylenol, Zyrtec, Benadryl, Nicorette, and Motrin. In Q2 2026, net sales increased 2.2% with organic growth of 0.6%, driven by value realization and eCommerce momentum in Allergy and Digestive Health.
- Skin Health and Beauty — Includes Face and Body Care; and Hair, Sun, and Other. Major brands include Neutrogena, Aveeno, Dr.Ci:Labo, Lubriderm, OGX, and Rogaine. The segment benefits from innovation and premiumization trends.
- Essential Health — Includes Oral Care; Baby Care; and Other Essential Health (Women's Health, Wound Care). Major brands include Listerine, Johnson's, BAND-AID Brand, Carefree, and o.b. tampons. This segment provides steady, everyday-use products with broad global distribution.
Recent performance
In Q2 2026, net sales increased 3.0% to $3.96 billion, with organic sales growth of 1.6% and a 1.4% foreign currency benefit. Diluted EPS rose 9% to $0.24, and adjusted diluted EPS increased 7% to $0.31. Gross profit margin was 58.2%, down from 58.9% a year earlier, due to inflation, tariffs, and unfavorable transactional FX, partially offset by productivity savings. Operating income margin was 17.7%, and adjusted operating income margin was 22.1%. All three segments and every region contributed to growth.
Strategy
Kenvue is executing its transformation as a standalone company, including cost optimization through Our Vue Forward and the 2026 Restructuring Initiative, to fuel brand investment and operational efficiencies. The company continues to invest in digital capabilities, precision marketing, and eCommerce to drive sustainable growth. It is also working toward completing its pending combination with Kimberly-Clark, expected to close in Q4 2026, which will create a combined company with Kenvue shareholders owning approximately 46% and K-C shareholders owning approximately 54%. Management has stated it will not provide forward-looking guidance due to the pending transaction.
Risks
- Proposed Merger with Kimberly-Clark — The pending transaction may fail to close or may not realize projected benefits, and integration could disrupt operations or cause loss of key employees and customers.
- Macroeconomic and Inflationary Pressures — Inflation, tariffs, and unfavorable foreign exchange are pressuring gross margins, as seen in Q2 2026's 70 basis point decline in gross profit margin.
- Regulatory Approvals — The merger requires a number of foreign regulatory approvals, which may delay or diminish the benefits of the transaction.
- Fixed Exchange Ratio — The number of K-C shares issuable is fixed, so Kenvue shareholders cannot be sure of the market value of the stock consideration if K-C's stock price fluctuates.
Outlook
Management expects the pending combination with Kimberly-Clark to close in the fourth quarter of 2026, subject to foreign regulatory approvals. The company will not provide forward-looking guidance due to the pending transaction. Kenvue remains focused on disciplined execution and business improvement while working toward closing the merger.