Kenvue ( KVUE ) shares surged in intraday trading Tuesday after the company affirmed its full-year guidance that topped analysts’ expectations.

The Tylenol and Band-Aid parent, formerly the consumer healthcare unit of Johnson & Johnson ( JNJ ), continues to expect 2024 net sales growth between 1% and 3%, with the midpoint well above analysts’ expectations of 1.4%, per Visible Alpha.

“We are on track to deliver the financial targets we set for 2024, and while we are in the early days, our work to transform Kenvue into a bolder, more agile organization focused on profitable growth is producing results,” Chief Executive Officer (CEO ) Thibaut Mongon said.

Q2 Revenue Beats Estimates, EPS Misses

In the second quarter, the company posted earnings per share (EPS ) of 3 cents on revenue of $4 billion. Analysts had called for EPS of 24 cents on revenue of $3.93 billion. Adjusted EPS of 32 cents topped estimates.

Shares of Kenvue jumped 12% to $20.40 as of 1:40 p.m. ET Tuesday but remain 5% lower this year.