Press release
Helen of Troy Limited Reports Third Quarter Fiscal 2023 Results
Consolidated Net Sales Decline of 10.6% Core Net Sales Decline of 10.0% From Fiscal 2022; Growth of 23.9% From Fiscal 2020 GAAP Diluted EPS of $2.15; Core
About this update from Helen Of Troy Limited
[{"type":"text","content":"\nConsolidated Net Sales Decline of 10.6%\nCore Net Sales Decline of 10.0% From Fiscal 2022; Growth of 23.9% From Fiscal 2020\nGAAP Diluted EPS of $2.15; Core Adjusted Diluted EPS of $2.75\nCore Adjusted Diluted EPS Decline of 26.1% From Fiscal 2022; Decline of 7.7% From Fiscal 2020\n\nUpdates Fiscal 2023 Net Sales and Diluted EPS Outlook:\nConsolidated Net Sales to $2.025-$2.050 Billion\nConsolidated Diluted EPS to $4.82-$5.11; Consolidated Adjusted Diluted EPS to $9.20-$9.40\n\nProvides Update on Project Pegasus\n\n EL PASO, Texas--(BUSINESS WIRE)--\nHelen of Troy Limited (NASDAQ: HELE), designer, developer and worldwide marketer of consumer brand-name home, outdoor, health, wellness, and beauty products, today reported results for the three-month period ended November 30, 2022.\n\nExecutive Summary – Third Quarter of Fiscal 2023 Compared to Fiscal 2022, Fiscal 2021 and Fiscal 2020\n\n\nConsolidated net sales revenue was $558.6 million, a decrease of 10.6% from fiscal 2022, a decrease of 12.4% from fiscal 2021, and an increase of 17.7% from fiscal 2020\n\n\n\nCore business net sales decrease of 10.0% from fiscal 2022, a decrease of 9.6% from fiscal 2021, and an increase of 23.9% from fiscal 2020\n\n\n\nGAAP diluted EPS of $2.15, compared to $3.10 for the same period last year, $3.34 for fiscal 2021, and $2.71 for fiscal 2020\n\n\n\nNon-GAAP Core adjusted diluted EPS of $2.75, a decrease of 26.1% from fiscal 2022, a decrease of 23.8% from fiscal 2021, and a decrease of 7.7% from fiscal 2020\n\n\n\nNon-GAAP adjusted diluted EPS of $2.75, a decrease of 26.1% from fiscal 2022, a decrease of 26.9% from fiscal 2021, and a decrease of 11.9% from fiscal 2020\n\n\nJulien R. Mininberg, Chief Executive Officer, stated: “While the operating environment remained difficult, our third quarter financial performance exceeded our expectations. Gross margin and cash flow improved significantly during the quarter, and our efforts to reduce inventory have resulted in inventory levels that are now below where we finished last fiscal year. On a fiscal year-to-date basis, core net sales are up 33.1% on a three-year stack vs. the pre-Covid base of fiscal year 2020. Over those same nine months, core adjusted diluted EPS is up 6.6% on a three-year stack despite the negative impacts this fiscal year from inflation, higher interest rates, and lower operat...