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Dec 31, 2023
Edgewell Q1 2024 Earnings Report
Edgewell's financial performance for Q1 2024 was announced, demonstrating sales growth and strategic progress.
Key Takeaways
Edgewell Personal Care reported a 4.2% increase in net sales, reaching $488.9 million, with organic net sales growing by 3.1%. The company's gross margin was a highlight, driven by productivity savings and improved revenue management. Edgewell is maintaining its full-year outlook, reflecting confidence in its strategic priorities and operational execution.
Net sales increased by 4.2% to $488.9 million, with organic net sales up by 3.1%.
GAAP diluted EPS was $0.09, while adjusted EPS reached $0.24.
The company ended the quarter with $214.2 million in cash and returned $22.6 million to shareholders through share repurchases and dividends.
Edgewell is on track to meet its previous outlook for both top and bottom line.
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 providing the following outlook assumptions for fiscal 2024: Reported net sales are expected to increase in the range of approximately 1% to 3%.
Positive Outlook
- Reported net sales are expected to increase in the range of approximately 1% to 3%
- Organic net sales are expected to increase approximately 2% to 4%.
- Adjusted gross margin is expected to increase approximately 80-basis points to the prior year
- The EPS outlook reflects the impact of share repurchases of approximately $50 million
- Adjusted EBITDA is expected to be in the range of $340 to $352 million
Challenges Ahead
- Includes an estimated 60-basis point negative impact from currency movements
- Adjusted EPS is expected to be in the range of $2.65 to $2.85 Includes an estimated $0.20 EPS unfavorable impact from foreign currency movements
- Expect approximately 65% (previously 70%) of adjusted earnings to be generated in the 2nd half of the fiscal year.
- Includes an estimated $14 million unfavorable impact from foreign currency changes
- Interest expense associated with debt is expected to be approximately $78 million
Revenue & Expenses
Visualization of income flow from segment revenue to net income