AI English summary of an SEC filing — figures as filed
Kenvue KVUEKenvue said net sales for the 3 months ended March 31, 2024 rose to $3.9 billion, up $42 million (1.1%). Excluding the $31 million impact of currency, Organic growth was $73 million. The company said the increase was driven mainly by value realization, partly offset by lower volume.
Key points
AI summaryKenvue said net sales for the 3 months ended March 31, 2024 rose to $3.9 billion, up $42 million (1.1%). Excluding the $31 million impact of currency, Organic growth was $73 million. The company said the increase was driven mainly by value realization, partly offset by lower volume.
The company said its gross profit margin rose 240 basis points to 57.6% (55.2% a year earlier). It also said selling, general and administrative expenses increased $71 million (4.7%), to 40.4% of net sales (39.0% a year earlier).
Kenvue said it classified its interim Skillman headquarters as held for sale on February 21, 2024 and recorded a $68 million impairment charge on the asset in the quarter. Other operating expense, net was $78 million, and the company cited the impairment charge as a factor in the increase.
The company said net cash flows from operating activities for the quarter were $287 million, compared with $802 million a year earlier, a decrease of $515 million. Net cash flows from financing activities were $(326) million, including dividends paid of $383 million and share repurchases of $91 million.
Key figures
Quarter ended March 31, 2024
- Revenue
- $3.9B
- Operating income
- $550M
- Net income
- $296M
- EPS
- $0.15
- Gross profit
- $2.2B
- Operating cash flow
- $287M
From the XBRL financial data filed with the SEC · not processed by AI.
Summary
AI-writtenAnalysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.
Quarterly net sales $3.9 billion, operating factors
Kenvue said net sales for the 3 months ended March 31, 2024 rose to $3.9 billion, up $42 million (1.1%). Excluding the $31 million impact of currency, Organic growth was $73 million. The company said the increase was driven mainly by value realization, partly offset by lower volume.
Source · Based on the MD&A text of the filing
Gross profit margin 57.6%, SG&A ratio 40.4%
The company said its gross profit margin rose 240 basis points to 57.6% (55.2% a year earlier). It also said selling, general and administrative expenses increased $71 million (4.7%), to 40.4% of net sales (39.0% a year earlier).
Source · Based on the MD&A text of the filing
Skillman headquarters impairment charge of $68 million
Kenvue said it classified its interim Skillman headquarters as held for sale on February 21, 2024 and recorded a $68 million impairment charge on the asset in the quarter. Other operating expense, net was $78 million, and the company cited the impairment charge as a factor in the increase.
Source · Based on the MD&A text of the filing
Operating cash flow $287 million, financing cash flow
The company said net cash flows from operating activities for the quarter were $287 million, compared with $802 million a year earlier, a decrease of $515 million. Net cash flows from financing activities were $(326) million, including dividends paid of $383 million and share repurchases of $91 million.
Source · Based on the MD&A text of the filing
AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.
Original filing
You can verify the report’s figures and statements in the original filing on SEC EDGAR.