Kenvue, formerly J&J's consumer health division, holds a wealth of widely known brands such as Band-Aid, Tylenol, Listerine, Neutrogena, Aveeno and J&J's namesake baby powder.
Shares of Kenvue were flat in premarket trading Thursday. After a strong debut on the public market in May, the stock has struggled as investorshow much growth the company can deliver with its iconic brands as consumers pull back on spending. It reported a net income of $430 million, or 23 cents per share, compared with $604 million, or 35 cents per share, a year earlier. Excluding certain items, the company's adjusted earnings were 32 cents a share.
In April following its IPO, Kenvue said it expects annual sales growth through 2025 to be about 3% to 4% globally.
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