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…
Earnings analysis · 10-Q
KVUE earnings analysis
Filed May 7, 2026 · Our reading of the company's report
The latest report
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…
Read full summary
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 against an estimate of $0.26. The management highlighted ongoing efficiencies and cost savings amidst challenges related to an impending merger with Kimberly-Clark and external economic pressures.
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.
From revenue to operating profit
Where each $100 of revenue went in this report.
Cost of sales, operating expenses, and what remained. Figures are rounded to whole dollars.
Where revenue came from
The business segments reported by the company.
Shares of the segments disclosed in this filing, largest first.
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
- $0.25
What stood out
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Revenue Growth
Net sales increased by $168 million to $3.91 billion, a 4.5% rise compared to $3.74 billion in Q1 2025.
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Gross Margin Expansion
Gross profit margin improved by 90 basis points to 58.9% from 58.0% in the prior year.
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Operating Income Surged
Operating income increased by 37.5% to $767 million from $558 million in Q1 2025.
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Restructuring Savings
Adjusted operating income in total segments grew by 21.7%, influenced by restructuring cost efficiencies.
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Improved Skin Health Sales
Skin Health and Beauty segment grew by $82 million, an 8.4% increase year-over-year.
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Strong Essential Health Performance
Essential Health segment net sales rose by $54 million, or 4.9% compared to Q1 2025.
What to watch
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Pending Merger Costs
The pending acquisition by Kimberly-Clark may disrupt operations, incurring significant advisory and integration costs.
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Market Volatility Impact
The ongoing conflict in the Middle East could create further economic uncertainty and operational challenges.
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Inflation and Supply Chain Pressures
Rising inflation and recent tariffs are expected to increase supply chain costs by approximately $90 million annually.
Management's outlook
The Company will not provide forward-looking guidance due to ongoing pending acquisition.
Earlier filings 4
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…
10-Q · August 2, 2023
Kenvue reported quarterly net sales of $4,011 million, up $207 million versus the prior-year quarter, but saw net income and diluted EPS decline to $430 million and $0.23 (versus $604 million and $0.35). The company…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.