Press release
Helen of Troy Limited Reports Fourth Quarter Fiscal 2023 Results
Consolidated Net Sales Decline of 16.7%; Core Net Sales Decline of 16.2% GAAP Diluted EPS of $1.50; Adjusted Diluted EPS of $2.01 GAAP Operating Margin
About this update from Helen Of Troy Limited
[{"type":"text","content":"\nConsolidated Net Sales Decline of 16.7%; Core Net Sales Decline of 16.2%\nGAAP Diluted EPS of $1.50; Adjusted Diluted EPS of $2.01\nGAAP Operating Margin Expansion of 240 Basis Points\nAdjusted EBITDA Margin Expansion of 170 Basis Points\nCash Flow from Operations of $158.7 Million, Growth of 8.8%; Free Cash Flow of $130.0 Million(7)(17)\n\n\nInitiates Fiscal 2024 Outlook:\nConsolidated Net Sales of $1.965-$2.015 Billion\nGAAP Diluted EPS of $3.98-$4.84; Adjusted Diluted EPS of $8.50-$9.00\nAdjusted EBITDA Growth of 3.2%-6.3%; Free Cash Flow of $250-$270 Million\nFurther Net Leverage Ratio Reduction to Between 2.0X and 1.85X by the End of Fiscal 2024(7)(18)\nProject Pegasus on Track to Deliver $20M Fiscal 2024 Savings Target\n\n\n EL PASO, Texas--(BUSINESS WIRE)--\nHelen of Troy Limited (NASDAQ: HELE), designer, developer, and worldwide marketer of branded consumer home, outdoor, beauty, and wellness products, today reported results for the three-month period ended February 28, 2023 and provided its outlook for Fiscal 2024.\n\n\nDuring the fourth quarter of fiscal 2023, the Company made changes to the structure of the organization as part of its global restructuring plan, Project Pegasus. As a result of these changes, the disclosures included herein reflect two reportable segments, Home & Outdoor and Beauty & Wellness. The previous Health & Wellness and Beauty operating segments are being combined into a single reportable segment, which is referred to herein as “Beauty & Wellness.” The Company believes that these changes better align internal resources and external go to market activities to create a more efficient and effective organizational structure. There were no changes to the products or brands included within the Home & Outdoor reportable segment as part of these organizational changes. Comparative prior period segment information has been recast to conform to this change in reportable segments and is included in the accompanying tables beginning on page 31 and titled “Supplemental Recast Segment Financial Information”.\n\n\nExecutive Summary – Fourth Quarter of Fiscal 2023 Compared to Fiscal 2022, Fiscal 2021 and Fiscal 2020 Pre-COVID Base\n\n\n\nConsolidated net sales revenue of $484.6 million, a decrease of 16.7% from fiscal 2022, a decrease of 4.9% from fiscal 2021, and an increase of 9.5% from fiscal 2020\n\n\n\nC...