Kenvue stock rose following the company's fourth-quarter earnings results, which beat Wall Street estimates. The company reported fourth-quarter earnings per share of $0.27 and revenue of $3.78 billion, exceeding forecasts. Additionally, Kenvue reported fourth-quarter organic sales growth and impressive gross profit margins. The company announced a quarterly dividend and declared a global workforce reduction as part of preparations for its planned acquisition by Kimberly-Clark. The deal between Kenvue and Kimberly-Clark is advancing, with Kimberly-Clark shares trading around $107.52. Activist investor Starboard Value LP increased its holdings in Kenvue during the December quarter, and major institutional investors including Vanguard Group Inc. and Aberdeen Group plc expanded their stakes in the company.
Read full analysisKenvue stock rose following the company's fourth-quarter earnings results, which beat Wall Street estimates. The company reported fourth-quarter earnings per share of $0.27 and revenue of $3.78 billion, exceeding forecasts. Additionally, Kenvue reported fourth-quarter organic sales growth and impressive gross profit margins. The company announced a quarterly dividend and declared a global workforce reduction as part of preparations for its planned acquisition by Kimberly-Clark. The deal between Kenvue and Kimberly-Clark is advancing, with Kimberly-Clark shares trading around $107.52. Activist investor Starboard Value LP increased its holdings in Kenvue during the December quarter, and major institutional investors including Vanguard Group Inc. and Aberdeen Group plc expanded their stakes in the company.
Kenvue is a consumer health company spun off from Johnson & Johnson in 2023, making household brands including Tylenol, Listerine, and Band-Aid. The company is currently in the process of being acquired by Kimberly-Clark in a deal valued at roughly $40 billion. Today's move follows a Q4 earnings beat and workforce reduction announcement tied to the pending acquisition.