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    Javier Escalante • Evercore ISI

    Javier Escalante's questions to Kenvue Inc (KVUE) leadership

    Javier Escalante's questions to Kenvue Inc (KVUE) leadership • Q2 2025

    Question

    Javier Escalante questioned the framework for Kenvue's strategic review, drawing a parallel to P&G's history of divesting entire business units and asking specifically about the approach to the lower-profitability Skin Health segment.

    Answer

    Interim CEO Kirk Perry declined to comment on specific segments within the ongoing strategic review. He emphasized that poor execution has been a significant factor in underperformance and that the team is focused on controllable factors like demand creation through improved consumer insights, brand building, innovation, and go-to-market excellence.

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    Javier Escalante's questions to Kenvue Inc (KVUE) leadership • Q2 2025

    Question

    Javier Escalante inquired about the framework for the board's strategic review, drawing a parallel to P&G's past divestitures, and specifically asked how Kenvue views its Skin Health segment given its lower profitability and tough competitive dynamics.

    Answer

    Interim CEO & Director Kirk Perry reiterated that the strategic review is running in parallel with operational improvements and will consider all value-creation options. While declining to comment on any specific business segment, he stressed that poor execution has been a significant factor in underperformance and that focusing on controllable elements like brand building, innovation, and go-to-market excellence is a priority.

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    Javier Escalante's questions to Kenvue Inc (KVUE) leadership • Q1 2025

    Question

    Javier Escalante asked for justification of Kenvue's elevated SG&A as a percentage of sales and questioned whether the company is considering restructuring or portfolio rationalization now that the transition services agreement with J&J is complete.

    Answer

    CFO Paul Ruh explained that SG&A includes significant brand advertising investments, which increased by $400 million last year. He stated these investments are fueled by efficiencies from the 'Our Vue Forward' program, which is on track to deliver $350 million in savings by 2026. The focus is on leveraging the post-separation structure to drive cost efficiencies that can be reinvested into top-line growth.

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    Javier Escalante's questions to Clorox Co (CLX) leadership

    Javier Escalante's questions to Clorox Co (CLX) leadership • Q4 2025

    Question

    Javier Escalante of Evercore ISI asked for the reason behind the significant negative price/mix in the quarter, particularly in the household segment, and questioned why the company doesn't consider a price realignment for its Glad and Cat Litter brands to stabilize market share.

    Answer

    CFO Luc Bellet attributed the abnormal price/mix decline to a one-time trade spending accrual adjustment; the underlying rate was closer to -2%. CEO Linda Rendle responded that for Cat Litter, the core issue is improving product superiority, not price. For Glad, she reiterated the strategy is to win through innovation and a better user experience that justifies a premium, rather than engaging in price competition.

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    Javier Escalante's questions to Church & Dwight Co Inc (CHD) leadership

    Javier Escalante's questions to Church & Dwight Co Inc (CHD) leadership • Q1 2025

    Question

    Javier Escalante asked for details on the inventory issue by retailer and category, focusing on the drug store channel's importance for vitamins. He also requested management to unpack the drivers behind the weak April performance in the laundry detergent category.

    Answer

    Executive Richard Dierker acknowledged that the drug channel is highly promotional for vitamins and that the company is strategically retrenching its offerings there, while focusing more on the online channel, which represents half the category. For laundry, he stated that while Church & Dwight's brands are healthy and gaining share, the overall category is seeing noise from competitor pricing, concentration changes, and a new premium private label launch by a major retailer.

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