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Dec 31, 2022
Edgewell Q1 2023 Earnings Report
Edgewell's financial performance was solid, marked by net sales increase and organic net sales growth.
Key Takeaways
Edgewell Personal Care announced its first fiscal quarter 2023 results, with net sales of $469.1 million, a 1.3% increase compared to the prior year period, and organic net sales increased by 3.0%. The company maintains its fiscal 2023 outlook for organic net sales and adjusted EPS and EBITDA.
Net sales increased by 1.3%, with organic net sales up by 3.0%.
GAAP diluted EPS was $0.23, compared to $0.20 in the prior year period.
Adjusted EPS was $0.31, inclusive of a $0.05 unfavorable currency impact, compared to $0.42 in the prior year period.
The company ended the quarter with $184 million in cash on hand and access to an additional $164 million revolving credit facility.
Revenue by Segment
Forward Guidance
The Company is providing the following outlook assumptions for fiscal 2023:
Positive Outlook
- Reported net sales expected to increase in the range of 2% to 4%
- Organic net sales expected to increase in the range of 3% to 5%
- GAAP EPS expected to be in the range of $1.90 to $2.10
- Adjusted EPS expected to be in the range of $2.30 to $2.50
- Gross margin is expected to increase approximately 30-basis points, with margin accretion expected in the second half of the fiscal year
Challenges Ahead
- Includes an estimated 150-basis point negative impact from currency translation
- Includes: Restructuring charges, acquisition and integration costs and Sun Care reformulation costs
- Includes an estimated $30 million, or $0.45 EPS unfavorable impact from foreign currency changes
- Operating margin is expected to increase slightly
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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