Press release
Helen of Troy Limited Reports First Quarter Fiscal 2025 Results
Consolidated Net Sales Decline of 12.2% GAAP Diluted EPS of $0.26; Adjusted Diluted EPS of $0.99 Gross Profit Margin Expansion of 330 Basis Points Cash Flow
About this update from Helen Of Troy Limited
[{"type":"text","content":"\nConsolidated Net Sales Decline of 12.2%\nGAAP Diluted EPS of $0.26; Adjusted Diluted EPS of $0.99\nGross Profit Margin Expansion of 330 Basis Points\nCash Flow from Operations of $25.3 Million; Free Cash Flow(1)(2) of $16.2 Million\n\n\nUpdates Fiscal 2025 Outlook:\nLowers Consolidated Net Sales to $1.885-$1.935 Billion\nLowers GAAP Diluted EPS to $4.69-$5.45 and Adjusted Diluted EPS to $7.00-$7.50\nLowers Adjusted EBITDA to $287-$297 Million and Free Cash Flow(1)(2) to $220-$240 Million\nUpdates Net Leverage Ratio(1)(3) Reduction to Between 1.6X and 1.5X by the End of Fiscal 2025\nProject Pegasus on Track to Deliver Savings of $26 Million to $30 Million\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 May 31, 2024.\n\n\nExecutive Summary – First Quarter of Fiscal 2025 Compared to Fiscal 2024\n\n\n\nConsolidated net sales revenue of $416.8 million, a decrease of 12.2%\n\n\n\nGross profit margin improvement of 330 basis points to 48.7% compared to 45.4%\n\n\n\nOperating margin of 7.4% compared to 8.6%\n\n\n\nNon-GAAP adjusted operating margin of 10.3% compared to 13.9%\n\n\n\nGAAP diluted EPS of $0.26 compared to $0.94\n\n\n\nNon-GAAP adjusted diluted EPS of $0.99 compared to $1.94\n\n\n\nNet cash provided by operating activities of $25.3 million compared to $121.1 million\n\n\n\nNon-GAAP adjusted EBITDA margin of 12.6% compared to 15.2%\n\n\n\nRepurchased 1,011,243 shares of common stock in the open market during the quarter for $100 million\n\n\n\nNoel M. Geoffroy, Chief Executive Officer, stated: “We are disappointed with the start to our fiscal year. We battled an unusual number of internal and external challenges in the quarter, which resulted in net sales and adjusted EPS below our outlook. Many of these challenges became more pronounced toward the end of the first quarter and some continue to evolve. We now see this fiscal year as a time to take action to reset and revitalize our business. As a result, we are lowering our annual outlook, which delays the delivery of the long-term financial algorithm in our strategic plan.”\n\n\n“Despite the challenges we currently face, I remain confident the strategies we are implementing are t...