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Dec 31, 2020
Edgewell Q1 2021 Earnings Report
Edgewell's financial performance remained stable, with flat net sales and expanded gross margin, as the company maintained its financial outlook for fiscal year 2021.
Key Takeaways
Edgewell Personal Care announced its first quarter fiscal 2021 results, with net sales of $451.1 million, a decrease of 0.6% compared to the prior year period. Organic net sales were flat. GAAP EPS was $0.32, while adjusted EPS was $0.43. The company ended the quarter with $281 million in cash and returned $9.2 million to shareholders through share repurchase.
Net sales were $451.1 million, a 0.6% decrease compared to the prior year period.
Organic net sales were flat compared to the prior year period.
GAAP EPS was $0.32 for the first quarter, compared to $0.41 in the prior year period.
Adjusted EPS was $0.43 for the first quarter, compared to $0.55 in the prior year period.
Edgewell
Edgewell
Edgewell Revenue by Segment
Revenue by Segment
Wet Shave Revenue
CapyFin.comSun and Skin Care Revenue
CapyFin.comFeminine Care Revenue
CapyFin.com Forward Guidance
The Company is maintaining its previously provided outlook assumptions for fiscal 2021:
Positive Outlook
- Reported net sales to increase mid-single digits, including a 160 basis-point net benefit from the Cremo acquisition and the Infant and Pet Care divestiture and a 160 basis-point benefit from currency translation.
- Organic sales to increase low-single digits
- Adjusted operating profit margin to be consistent with fiscal 2020, including Project Fuel costs of $25 to $30 million and Project Fuel Gross Savings of $50 to $60 million.
- Adjusted EPS in the range of $2.62 to $2.82
- Free cash flow expected to be approximately 100% of non-GAAP net earnings
Challenges Ahead
- GAAP EPS in the range of $2.18 to $2.38, including Project Fuel restructuring charges, IT enablement costs, acquisition and integration costs
- Adjusted EBITDA in the range of $345 to $360 million
- Adjusted effective tax rate in the range of 22.5% to 23.5%
- Capital expenditures of approximately 3.0% of net sales
- The company expects Project Fuel will generate $265 to $275 million in total annual gross savings by the end of the 2021 fiscal year.
Revenue & Expenses
Visualization of income flow from segment revenue to net income