Kenvue reported higher profit and sales in the second quarter, boosted by higher prices and volumes, as the company continues working to turn around its business ahead of its acquisition by Kimberly-Clark. The maker of over-the-counter health products such as Tylenol and Listerine on Thursday posted a profit of $456 million, or 24 cents a share, for its three months ended June 28.

That compares with a profit of $420 million, or 22 cents a share, in last year's comparable quarter. Stripping out one-time items, earnings were 31 cents a share. Analysts polled by Fact Set expected adjusted earnings of 32 cents a share.

Net sales rose 3% to $3.96 billion, just below Wall Street models for $3.97 billion. The acquisition by Kimberly-Clark is expected to occur in 4Q.