Kenvue (KVUE) Q4 FY24 earnings call

Kenvue's Q4 FY24 results were marked by disappointing organic sales growth, primarily due to a mild cough/cold/flu season and distribution challenges in China. Despite these top-line headwinds, the company significantly expanded adjusted gross margin and increased brand investments, driven by cost savings. Management outlined a 2025 outlook targeting 2-4% organic sales growth, volume-led, with an expected acceleration in the second half as initial destocking and strategic pricing impacts subside, aiming for profitable growth post-separation from J&J.