Earnings Results
‘Our sales outlook reflects our expectation that the economy, consumers, and several of our categories will continue to experience macro financial pressure,’ CEO says
Revlon license-holder Helen of Troy reported quarterly earnings Wednesday.
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Shares of Helen of Troy Ltd. rose after hours on Wednesday after the designer of home and wellness products released a full-year profit forecast and fourth-quarter results that came in above Wall Street’s expectations.
The company — which sells products like Revlon cosmetics, Pur water filters and Oxo food-storage containers, as well as things like humidifiers — also announced that its chief executive, Julien Mininberg, plans to retire on Feb. 29, 2024, and that its board had appointed Noel Geoffroy, currently chief operating…
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Helen of Troy, a major international housewares and healthcare products manufacturer, recently released a positive earnings report, sending its share price sharply higher.
The company beat expectations across all areas in its fourth quarter report, including both its earnings per share (EPS) and revenue figures. Its adjusted EPS came in at $3.37, significantly above the Zacks Consensus Estimate of $2.90, while the company’s total revenues rose 8% year-over-year to reach $496 million.
The company also released a strong earnings forecast for fiscal 2020. Its guidance for adjusted EPS for the fiscal year is now expected to come in around $7.30 to $7.60, up from the previous estimate of $6.30 to $6.60.
The news was well-received by the markets, with Helen of Troy’s stock rallying over 50% in response. This performance makes it one of the top performers on the S&P 500 index.
The company faces further positive change potentially on the horizon, as CEO Julien Mininberg has announced his plans to retire in 2021. Mininberg has been with the company since 2000, and during his tenure has been credited with transforming Helen of Troy into one of the leading consumer product companies on the market.
Mininberg praised the company’s solid fourth quarter results in a statement, saying “we are pleased with this quarter’s performance, which reflects the progress we have made in our operational excellence, pricing, cost management and margin expansion initiatives.”
Helen of Troy’s strong performance this quarter and the international success of its products has put the company on a strong footing for the coming year. The news that Mininberg is stepping down next year will also be important to watch, as it will be interesting to see who the company’s next leader will be.
