Health
Kenvue Sales Miss Estimates as Weak Volumes Plague Tylenol Maker
- Net sales outlook for this year also below analyst forecasts
- Owner of Listerine is facing pressure from activist investor
Tylenol branded pain relief.
Photographer: Gabby Jones/BloombergThis article is for subscribers only.
Kenvue Inc., the owner of Tylenol and Band-Aid, reported sales that missed analyst estimates after weaker-than-expected volumes hurt results and provided activist investor Starboard Value with more fodder in its fight to shake up the company.
The key measure of organic sales rose 1.7% in the three months ended Dec. 29, the company said Thursday. That compares with an average estimate of 3.4% growth, according to analyst projections compiled by Bloomberg. Adjusted earnings met expectations.