Edgewell Personal Care Raises FY2024 Adj EPS Guidance from $2.80-$3.00 To $3.00 vs $2.91 Est; Cuts Organic Net Sales Growth Outlook From 2% To 1%
Author: Benzinga Newsdesk | August 06, 2024 06:08am
Full Fiscal Year 2024 Financial Outlook
The Company is providing the following outlook assumptions for fiscal 2024:
- Organic net sales are now expected to increase approximately 1% (previously 2%)
- Currency is now expected to negatively impact reported net sales by 35-basis points (previously, no impact)
- GAAP EPS is now expected to be approximately $2.28 (previously in the range of $2.20 to $2.40)
- Includes: Restructuring and re-positioning charges*, Acquisition and integration costs, Sun Care reformulation, costs related to the Wet One's manufacturing plant fire, a Legal matter charge, Loss on an investment, and Other costs
- Adjusted EPS is now expected to be approximately $3.00 (previously in the range of range of $2.80 to $3.00)
- Includes an estimated $0.12 per share unfavorable impact from foreign currency movements (previously $0.17 per share unfavorable impact)
- Adjusted gross margin is now expected to increase approximately 140-basis points to the prior year (previously 120-basis points)
- This EPS outlook reflects the impact of share repurchases of approximately $50 million
- Adjusted EBITDA is now expected to be approximately $356 million (previously in the range of $348 to $360 million)
- Includes an estimated $8 million unfavorable impact from foreign currency changes (previously $11 million unfavorable impact)
- Other Expense, net is expected to be approximately zero (previously expense of $3 million)
- Interest expense associated with debt is expected to be approximately $77 million (previously $78 million)
- Adjusted effective tax rate is expected to be approximately 22%
- Total depreciation and amortization expense expected to be approximately $90 million (previously $92 million)
- Capital expenditures expected to be approximately 2.5% of net sales
- Free cash flow is expected to be approximately $170 million
Posted In: EPC