Key Takeaways:Kenvue reported a 3.5% decrease in net sales for Q3 2025 compared to the previous year. Sliding sales follow a challenging year for the consumer health company, marked by the Neutrogena makeup wipes recall and the false link of Tylenol to autism.Kimberly-Clark announced plans to acquire Kenvue for approximately $48.7 billion in a cash-and-stock deal.Kenvue continues to face challenges in improving its profitability, but a potential lifeline is on the horizon. The consumer health company reported a 3.5% decrease in net sales for the third quarter, ending September 28, 2025, compared to the same period last year. This was mainly due to a 4.4% decline in organic sales. This is the company’s sixth consecutive quarter reporting declining sales. Since its May 2023 IPO following the Johnson & Johnson spin-off, Kenvue has logged growth in only one quarter (Q1 2024, when net sales increased 1.1%).“Throughout the third quarter, our team remained focused on our four operating priorities to drive improved performance,” Kirk Perry, Kenvue’s Chief Executive Officer, said in a press release. “Third quarter results keep us on track to deliver our full year guidance, and we are confident in the decisive actions we are taking to accelerate Kenvue’s performance and unlock the inherent value of our brands.”In a separate release issued the same day as its earnings results, Kenvue and Kimberly-Clark announced a landmark agreement for Kimberly-Clark to acquire Kenvue in a cash-and-stock transaction valuing the company at approximately $48.7 billion, based on Kimberly-Clark’s closing share price on October 31, 2025.