Citi on Kenvue (KVUE): 'We'd expect a positive reaction today'

Citi on Kenvue (NYSE: KVUE): 'We'd expect a positive reaction today'

The analyst comments "KVUE reported better-than-expected 1Q'24 results on stronger OSG (+1.9% vs. consensus -0.5%) and a beat at the EBITDA/EPS lines. The company also reiterated FY'24 guidance still calling for OSG of +2-4% and adj. EPS of $1.10-$1.20. For the quarter, KVUE posted Q1 adj. EBITDA of $933M (vs. consensus of $850.4M) on OSG of +1.9% (vs. -0.5% Citi/cons.). By segment, KVUE posted better-than-expected results in Self Care and Essential Health, net of a miss in Skin Health & Beauty. We'd expect a positive reaction today to better-than-expected results & reiterated 2024 guidance, particularly given the negative sentiment on the stock and under-performance heading into earnings. Conf. Call: Today at 8:30 am ET."

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