Several stocks experienced big moves following their earnings reports, including Helen of Troy. đŽ
The consumer products company behind brands like Vicks, Braun, and Hydro Flask reported better-than-expected results in the face of several headwinds. Like other consumer product companies, its experienced lower consumer demand amid a shift in discretionary spending from goods to services.
Nonetheless, it reported adjusted earnings per share (EPS) of $1.94 on revenues of $474.7 million. Both topped the $1.68 and $465.4 million anticipated. Additionally, gross margins expanded from 41.6% to 45.4% over the last year, driven primarily by a more favorable comparative impact of EPA compliance costs, lower freight costs, and a more favorable product/customer mix. đē
Looking ahead, the company reiterated its fiscal 2024 adjusted EPS forecast of $8.50 to $9.00. As for sales, it expects its Home & Outdoor segment net sales growth to range from -1.7% to +1.0% and its Beauty & Wellness segment net sales growth to range from -8.0% to -5.8%. It also believes the severity of the cold and flu season later this year will align with pre-COVID historical ranges.
In the face of slowing demand and economic uncertainty, executives continue to execute their global restructuring plan, which is designed to expand margins and drive earnings. đ
$HELE shares jumped 18% to their highest level since last August on the news. đ
