KVUE · 10-Q · 2026Q3 · Full report

Operating Expense Trends

Kenvue Inc. · 2026-10-30 · Importance 20 · Surprise 14

For the nine months ended September 27, 2026, selling, general, and administrative expenses were $4.559 billion, up $6 million, or 0.1%, while SG&A declined to 38.8% of sales from 40.1%. Higher Pending Transaction costs, brand support, input-cost inflation, and unfavorable translational foreign exchange were largely offset by restructuring savings and a $57 million decrease in Separation-related costs. In the third quarter, SG&A rose $57 million, or 3.8%, to $1.569 billion and increased to 40.4% of sales from 40.2%. Third-quarter increases reflected brand support, Pending Transaction costs, and input-cost inflation, partly offset by restructuring savings and an $11 million decrease in Separation-related costs.

Key facts

• For the fiscal three months ended September 27, 2026, Kenvue SG&A increased $57 million, or 3.8%, and SG&A was 40.4% of sales, up 20 basis points; higher brand support, pending-transaction costs, and input inflation were partly offset by restructuring savings and an $11 million decrease in Separation-related costs. source
• Nine-month SG&A savings from restructuring initiatives and a $57 million decrease in Separation-related costs partly offset higher costs. source
• For the fiscal nine months ended September 27, 2026, SG&A increased $6 million, or 0.1%; SG&A as a percentage of sales decreased 130 basis points to 38.8% from 40.1%. source
• Kenvue’s information-technology and other Separation-related disentanglement activities are substantially completed; legal entity name changes and minimal other activities are expected to continue longer than originally anticipated. source