10-Q · May 7, 2026
Kenvue reported Q1 2026 results with net sales reaching $3.91 billion, marking a 4.5% increase from $3.74 billion in Q1 2025. Gross margin improved to 58.9%, while diluted EPS was slightly below consensus at $0.25…
Earnings analysis · 10-Q
KVUE earnings analysis
Filed October 30, 2026 · Our reading of the company's report
The latest report
Kenvue delivered $3.886 billion of revenue, approximately $18 million above consensus, and GAAP EPS rose to $0.22 from $0.21 year over year; adjusted EPS of $0.29 matched estimates. The filing indicates operational and…
Read full summary
Kenvue delivered $3.886 billion of revenue, approximately $18 million above consensus, and GAAP EPS rose to $0.22 from $0.21 year over year; adjusted EPS of $0.29 matched estimates. The filing indicates operational and cash-flow improvement from the prior analysis, but exact current-quarter margin and free-cash-flow figures were not available in the provided filing text. The pending Kimberly-Clark transaction remains the primary overhang, with guidance withdrawn and share repurchases restricted.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $0.22
What stood out
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Revenue beat consensus and prior year
Revenue was $3.886 billion, approximately $18 million above the $3.868 billion consensus estimate and higher than $3.760 billion in the prior-year quarter.
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EPS improved and matched consensus
GAAP diluted EPS increased to $0.22 from $0.21 a year earlier, while adjusted EPS was $0.29 versus the $0.29 consensus estimate.
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Controls remained effective
Management concluded disclosure controls were effective as of September 27, 2026, and reported no changes during the quarter that materially affected, or were reasonably likely to materially affect, internal control over financial reporting.
What to watch
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Guidance withdrawn amid pending transaction
Kenvue is not providing forward-looking guidance because of the pending Kimberly-Clark transaction, reducing visibility into upcoming revenue and earnings performance. The filing also references a $250 million restructuring charge outlook.
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Transaction limits capital returns
Under the November 2, 2025 Merger Agreement, Kenvue generally cannot repurchase or otherwise acquire equity without Kimberly-Clark consent. No shares were repurchased during the quarter, while 6.613 million shares remained authorized under the repurchase program.
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Multi-year ERP implementation risk
The company is continuing a multi-year global ERP implementation that began in fiscal 2024 and is expected to occur in phases over the next several years. Although no material control impact was reported for the quarter, future phases could affect internal control over financial reporting.
Management's outlook
Kenvue did not provide forward-looking guidance because of the pending Kimberly-Clark transaction. The quantitative outlook was deferred amid the transaction; the filing references a $250 million restructuring charge outlook.
Earlier filings 4
10-K · February 20, 2026
Kenvue positions itself as the world’s largest pure‑play consumer health company with Net sales of $15.1 billion in fiscal 2025 and a portfolio spanning Self Care, Skin Health & Beauty, and Essential Health. The company…
10-Q · August 7, 2025
Kenvue posted Q2 net sales of $3,839 million, down $161 million versus Q2 2024 ($4,000 million), but delivered strong margin recovery and earnings: gross profit of $2,261 million and operating income of $692 million…
10-Q · August 6, 2024
Kenvue’s GAAP Q2 results show essentially flat revenue at $4,000 million (down $11 million vs $4,011 million a year earlier) and an improved gross profit of $2,365 million (up $140 million), lifting gross margin to…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.