Edgewell Personal Care Company (EPC) Tops Q3 EPS by 7c; Bumps Outlook

Edgewell Personal Care Company (NYSE: EPC) reported Q3 EPS of $0.89, $0.07 better than the analyst estimate of $0.82. Revenue for the quarter came in at $573.7 million versus the consensus estimate of $534.25 million.

"This was a strong quarter highlighted by double digit organic net sales growth that exceeded our expectations, gross margin accretion, and meaningful increases in adjusted EPS and free cash flow. Additionally, we were encouraged to see strong consumption growth in our core Wet Shave and Sun Care categories in North America, although COVID-19 continued to negatively impact many of our international markets. Our organization continued to execute well against our strategic priorities, delivering $19 million in gross Project Fuel savings in the quarter, helping to offset significantly higher commodity and other input costs. Importantly, our results are underpinned by meaningful investments in our brands and products, innovation and increased digital engagement and activation, all of which are important catalysts to our sustained long-term growth." said Rod Little, Edgewell\'s President and Chief Executive Officer.

Mr. Little added, "With the strong results this quarter, we remain well-positioned to meet our organic sales outlook for the full fiscal year and we are increasing our annual outlook for adjusted EPS and adjusted EBITDA. Our teams are focused on achieving our objectives for fiscal 2021 while also advancing our long-term strategy to transform Edgewell into a growing consumer centric company delivering sustainable top line growth and predictable profit and cash generation."

GUIDANCE:

Edgewell Personal Care Company sees FY2021 EPS of $2.80-$2.90, versus the prior guidance of $2.62-$2.82 and the consensus of $2.77. Sees net sales to increase mid-single digits.

For earnings history and earnings-related data on Edgewell Personal Care Company (EPC) click here.

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