EPC - Edgewell Non-GAAP EPS of $0.98 revenue of $650M

2023-08-03 06:14:28 ET

• Edgewell press release ( NYSE: EPC ): Q3 Non-GAAP EPS of $0.98.
• Revenue of $650M (+4.2% Y/Y).
• • Organic net sales increased 4.5% (Organic basis excludes the unfavorable impact from currency movements.)
  • GAAP Diluted net Earnings Per Share ("EPS") were $1.01 for the third fiscal quarter compared to $0.57 in the prior year quarter.
  • Adjusted EPS were $0.98, inclusive of a $0.09 unfavorable impact from currency movements, compared to $0.86 in the prior year quarter.
• • FY Outlook: Reported net sales are expected to increase slightly above the mid-point of the the range of 2% to 4%.
• • Organic net sales are now expected to increase slightly above the mid-point of the range of 3% to 5% (previously high end of the range)
    • GAAP EPS is now expected to be in the range of $1.95 to $2.15 (previously $1.80 to $2.00)
      • Includes: Restructuring charges*, acquisition and integration costs, Sun Care reformulation costs, Canadian Pension wind-up costs, and favorable resolution of legal matters
    • Adjusted EPS is now expected to be at the high end of the range of $2.30 to $2.50
      • Includes an estimated $0.38 EPS (previously $0.43) unfavorable impact from foreign currency movements
      • Gross margin is now expected to be flat to the prior year (previously 30-basis point increase)
      • Operating margin is expected to increase slightly
      • The EPS outlook reflects the impact of estimated share repurchases
    • Adjusted EBITDA is now expected to be slightly above the high end of the range of $320 to $335 million

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