HELE - Why Helen of Troy Plummeted Nearly 30% Today
2024-07-09 16:07:00 ET
Shares of Helen of Troy (NASDAQ: HELE) were plunging in Tuesday trading, down 27.4% as of 12:53 p.m. ET. The consumer products company, which produces brands such as OXO kitchen supplies and Braun shaving products, reported its first fiscal quarter 2025 results today. As you can probably tell from the market's reaction, it wasn't good news.
In the first quarter, Helen of Troy reported revenue was down 12.2% to $416.8 million, with adjusted ( non-GAAP ) diluted earnings per share (EPS) down 49% to $0.99. This missed the consensus estimates of $446 million in revenue and $1.56 in adjusted EPS. Adding insult to injury, management also lowered guidance for the year to $1.910 billion at the midpoint, down from the $1.995 billion guidance given in the fourth quarter of 2024's release.
CEO Noel Geoffroy said in the press release:
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Why Helen of Troy Plummeted Nearly 30% Today