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Dec 31, 2021
Edgewell Q1 2022 Earnings Report
Announced a net sales increase of 2.7%, or 2.5% organic, and updated the previously provided outlook for fiscal 2022 to include the Billie Acquisition.
Key Takeaways
Edgewell Personal Care reported a 2.7% increase in net sales to $463.3 million and a 2.5% increase in organic net sales for the first quarter of fiscal year 2022. GAAP EPS was $0.20, while adjusted EPS was $0.42, which included a $0.04 negative impact from the Billie acquisition. The company reaffirmed its fiscal year 2022 outlook, adjusting for the Billie acquisition and currency impacts.
Net sales increased by 2.7% to $463.3 million, with organic net sales up by 2.5%.
GAAP EPS was $0.20, compared to $0.32 in the prior year quarter.
Adjusted EPS was $0.42, which included a $0.04 negative impact from the Billie acquisition.
The company returned $33 million to shareholders through share repurchases and dividends.
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 updating its previously provided outlook assumptions for fiscal 2022 to include the ten month impact of the Billie acquisition and the incremental negative impact of currency translation. Excluding these impacts, the current outlook is in-line with the previously provided outlook.
Positive Outlook
- Reported net sales expected to increase mid-single digits.
- Organic sales expected to increase low-single digits.
- Adjusted effective tax rate expected to be in the range of 22% to 23%.
- Total depreciation and amortization expense is expected to be $93.5 million, including $9.0 million in incremental amortization expense related to the acquisition of Billie
- Free cash flow expected to be approximately 100% of non-GAAP net earnings
Challenges Ahead
- Updated to include an estimated 400-basis point increase from the acquisition of Billie, net of Edgewell sales to Billie which were included in the previous outlook
- Updated to Include a 160-basis point negative impact from currency translation
- GAAP EPS anticipated to be in the range of $2.23 to $2.51
- Adjusted EPS anticipated to now be in the range of $2.74 to $3.02
- Adjusted EBITDA expected to now be in the range of $357 to $377 million
Revenue & Expenses
Visualization of income flow from segment revenue to net income