(Reuters) -Kenvue, the former consumer health unit of Johnson & Johnson, forecast full-year profit above Wall Street estimates on Thursday, signaling strong demand for its skincare and self-care products such as Neutrogena and Benadryl.
In its first results announcement since going public in May, Kenvue said net sales in the second quarter rose to $4.01 billion from $3.81 billion a year earlier.
The company expects full-year 2023 adjusted profit per share between $1.26 per share and $1.31 per share, compared with analysts’ estimates of $1.23, according IBES data from Refinitiv.
Even as higher interest rates and rental costs squeeze household income, customers have continued spending on essential, daily use products in a boost to consumer heath companies such as Kenvue.
(Reporting by Ananya Mariam Rajesh and Raghav Mahobe in Bengaluru; Editing by Devika Syamnath)
