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Nov 30, 2021
Helen of Troy Q3 2022 Earnings Report
Reported a consolidated net sales decline of 2.0% and core adjusted diluted EPS growth of 3.0%.
Key Takeaways
Helen of Troy Limited reported its Q3 Fiscal 2022 results, with consolidated net sales declining by 2.0% but core business net sales increasing by 0.4%. GAAP diluted EPS was $3.10, while core adjusted diluted EPS grew by 3.0% to $3.72. The company raised its fiscal 2022 diluted EPS and net sales outlook.
Consolidated net sales decreased by 2.0%, while core business net sales increased by 0.4%.
GAAP diluted EPS was $3.10, and core adjusted diluted EPS increased by 3.0% to $3.72.
The company raised its fiscal 2022 diluted EPS and net sales outlook.
Strong consumer and retailer demand drove sales for Housewares and Beauty.
Forward Guidance
The Company expects consolidated net sales revenue in the range of $2.10 to $2.12 billion, which implies growth of flat to 1.0%. The Company expects Core net sales revenue in the range of $2.06 to $2.08 billion, which implies growth of 2.0% to 3.0%, and includes a 3.0% unfavorable impact related to the EPA matter.
Positive Outlook
- Housewares net sales growth of 15.0% to 16.0%
- Beauty net sales growth of 13.0% to 14.0%, Beauty Core business net sales growth of 26.0% to 27.0%.
- The Company expects consolidated GAAP diluted EPS of $8.25 to $8.59 and Core diluted EPS of $8.08 to $8.42.
- The Company expects consolidated non-GAAP adjusted diluted EPS in the range of $11.73 to $11.93 and Core adjusted diluted EPS in the range of $11.55 to $11.75.
Challenges Ahead
- Health & Home net sales decline of 20.0% to 19.0%, including 6.7% of decline related to the EPA matter.
- The assumption that the severity of the cough/cold/flu season will be below pre-COVID historical averages.
- Due primarily to the strong growth comparison and COVID-related events in the fourth quarter of fiscal 2021 and the accelerated orders by retailers in the third quarter of fiscal 2022 to avoid supply chain disruptions during the holiday season, the Company does not expect Core business net sales growth in the fourth quarter of fiscal 2022.
Historical Earnings Impact
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