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Jun 30, 2021
Edgewell Q3 2021 Earnings Report
Net sales increased by 18.6%, with organic net sales up 12.5%. EPS was $0.74, and adjusted EPS increased by 35%.
Key Takeaways
Edgewell Personal Care announced strong third quarter fiscal 2021 results, with net sales increasing by 18.6% and organic net sales up 12.5%. The company raised its previously provided adjusted EPS and adjusted EBITDA outlook for fiscal 2021.
Net sales were $573.7 million, an increase of 18.6% compared to the prior year period.
Organic net sales increased 12.5% compared to the prior year period.
GAAP Diluted Earnings Per Share (EPS) were $0.74 for the third quarter compared to $0.09 in the prior year period.
Adjusted EPS were $0.89 for the third quarter, compared to $0.66 in the prior year period.
Revenue by Segment
Forward Guidance
The Company is updating its previously provided outlook assumptions for fiscal 2021 and now expects Adjusted EPS in the range of $2.80 to $2.90 and Adjusted EBITDA in the range of $358 to $366 million.
Positive Outlook
- Reported net sales to increase mid-single digits
- Includes: 160 basis-point net benefit from the Cremo acquisition and the Infant and Pet Care divestiture and a 190 basis-point benefit from currency translation
- Organic sales to increase low-single digits
- Adjusted operating profit margin to be consistent with fiscal 2020
- Project Fuel Gross Savings of approximately $70 million
Challenges Ahead
- Project Fuel costs of approximately $25 million
- GAAP EPS in the range of $2.00 to $2.10
- Includes: Project Fuel restructuring charges, cost of early retirement of long-term debt, IT enablement costs, the UK tax rate increase, acquisition and integration costs
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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