Edgewell Personal Care FY24 GAAP EPS Outlook Of $2.28 ($2.20-$2.40 Prior) Vs. $2.52 Estimate

Author: Benzinga Newsdesk | August 06, 2024 06:09am

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