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Sep 30, 2021
Edgewell Q4 2021 Earnings Report
Edgewell reported an increase in net sales and operating income for the fourth quarter and fiscal year 2021, and provided its financial outlook for fiscal year 2022.
Key Takeaways
Edgewell Personal Care announced strong Q4 and fiscal year 2021 results, with net sales increasing by 11.1% in Q4 and 7.1% for the full year. Organic net sales increased by 8.4% for the quarter and 3.7% for the full year. The company completed Project Fuel, achieving ~$280 million in cumulative gross savings, and initiated fiscal 2022 outlook for growth in organic net sales, adjusted EPS, and adjusted EBITDA. Additionally, the company announced its intent to repurchase approximately $300 million in common shares over the next three fiscal years.
Net sales increased 11.1% in the fourth quarter of fiscal 2021.
Organic net sales increased 8.4% for the quarter.
GAAP Diluted Earnings Per Share (EPS) were $0.80 for the fourth quarter.
Adjusted EPS were $1.01 for the fourth quarter.
Revenue by Segment
Forward Guidance
The Company is providing the following outlook assumptions for fiscal 2022:
Positive Outlook
- Reported net sales to increase low-single digits
- Includes: 110 basis-point negative impact from currency translation
- Organic sales to increase low-single digits
- GAAP EPS in the range of $2.73 to $3.01
- Includes: Restructuring charges* of $17 million and Sun Care Monograph costs of approximately $2 million
Challenges Ahead
- Adjusted EPS in the range of $2.98 to $3.26
- The EPS outlook includes an assumption that share repurchases will offset dilution only.
- Adjusted EBITDA in the range of $365 to $385 million
- Adjusted effective tax rate to be in the range of 22% to 23%
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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