Press release
Helen of Troy Limited Reports First Quarter Fiscal 2022 Results
Consolidated Net Sales Growth of 28.6%; Organic Business Net Sales Growth of 27.3% GAAP Diluted Earnings Per Share (“EPS”) of $2.31 Adjusted Diluted EPS
About this update from Helen Of Troy Limited
[{"type":"text","content":"\nConsolidated Net Sales Growth of 28.6%; Organic Business Net Sales Growth of 27.3%\nGAAP Diluted Earnings Per Share (“EPS”) of $2.31\nAdjusted Diluted EPS Growth of 37.5% to $3.48\n\nInitiates Fiscal 2022 Outlook:\nConsolidated GAAP Diluted EPS of $6.80 to $7.49; Core Diluted EPS of $6.60 to $7.28\nConsolidated Adjusted Diluted EPS of $10.46 to $10.97; Core Adjusted Diluted EPS of $10.25 to $10.75\nConsolidated Net Sales of $1.93 to $1.98 Billion; Core Net Sales of $1.90 to $1.95 Billion\n\n EL PASO, Texas--(BUSINESS WIRE)--\nHelen of Troy Limited (NASDAQ:HELE), designer, developer and worldwide marketer of consumer brand-name housewares, health and home, and beauty products, today reported results for the three-month period ended May 31, 2021.\n\nExecutive Summary – First Quarter of Fiscal 2022\n\n\nConsolidated net sales revenue increase of 28.6% to $541.2 million, including:\n\n\nAn increase in Leadership Brand net sales of 22.9%\n\n\nAn increase in online channel net sales of approximately 4%\n\n\nOrganic business net sales growth of 27.3%\n\n\nCore business net sales growth of 28.9%\n\n\n\n\nThe Company is in discussions with the U.S. Environmental Protection Agency (the “EPA”) regarding concerns that packaging claims on certain products in its U.S. water and air filtration and a limited subset of humidifier products are not in compliance with the EPA's strict interpretation of specific regulations. On May 27, 2021, the Company voluntarily implemented a temporary stop shipment action while it continues to work with the EPA to resolve outstanding concerns on the affected products. The EPA has not raised any product quality, safety or performance issues. The Company has already addressed the EPA's concerns on the water filtration products by making modest changes to our packaging and have resumed shipping those products. The Company expects to similarly resolve the EPA's concerns on air and humidification packaging and then resume shipping of those products as soon as operationally possible. During the first quarter of fiscal 2022, the Company recorded a $13.1 million charge referred to as “EPA compliance costs” in cost of goods sold to reflect the costs of its compliance plans with respect to inventory on hand at the end of the quarter.\n\n\nGAAP consolidated operating income of $64.8 million, or 12.0% of net sales, which ...