Why Helen Of Troy Shares Are Falling Today

  • Helen Of Troy Limited HELE reported a first-quarter FY23 net sales revenue decline of 6.1% year-on-year to $508.1 million, beating the consensus of $484.48 million.
  • Core business net sales declined 2.5% Y/Y and increased 27.2% compared to Q1 FY21. Leadership Brand sales rose 1.4% Y/Y.
  • Home & Outdoor sales grew 21% Y/Y, Health & Wellness sales decreased 17.2%, and Beauty sales fell 26.9%.
  • The gross profit margin increased 80 basis points to 41.6%. The operating margin contracted 530 basis points to 6.7%, and operating income for the quarter declined 47.7% to $33.9 million.
  • The company held $49.3 million in cash and equivalents as of May 31, 2022.
  • Adjusted EBITDA for the quarter declined 25.1% to $75.5 million.
  • “Since our April earnings release, the macroeconomic outlook has changed significantly as consumers shift their buying patterns and adapt to a number of factors including the impact of inflation and interest rates rising more rapidly than expected,” said CEO Julien R. Mininberg.
  • Adjusted EPS of $2.41 missed the analyst consensus of $2.54.
  • Outlook: Helen Of Troy lowered FY23 sales guidance to $2.15 billion - $2.20 billion (prior view $2.38 billion - $2.42 billion), against the consensus of $2.35 billion.
  • The company also lowered its adjusted EPS outlook to $9.85 - $10.35 (prior view of $12.73 - $13.03) versus the consensus of $13.17.
  • Price Action: HELE shares are trading lower by 6.71% at $158.49 in premarket trade on Thursday.
  • Photo Via Company
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