Helen of Troy (HELE) Announces $500M Share Buyback

Helen of Troy Limited (NASDAQ: HELE), designer, developer, and worldwide marketer of branded consumer home, outdoor, beauty, and wellness products, today announced that its Board of Directors has authorized the repurchase of $500 million of its outstanding common shares (“common stock” or “shares”) in keeping with its stated intention to opportunistically return to shareholders capital not otherwise deployed for core business growth or strategic acquisitions. The authorization was approved as part of the Board’s regular process of reviewing the Company’s capital allocation and existing authorization. It is effective August 20, 2024, for a period of three years and replaces Helen of Troy’s existing repurchase authorization, of which approximately $245.3 million remained at the time the new authorization was approved.

Helen of Troy may purchase shares on a discretionary basis from time to time through open market purchases, issuer tender offers, privately negotiated transactions, and accelerated share repurchase programs, or other means, including through Rule 10b5-1 trading plans. The timing and amount of any transactions will be subject to the discretion of Helen of Troy and may be based upon market conditions as well as other opportunities that Helen of Troy may have for the use or investment of its capital. The repurchase program does not require the purchase of any minimum number of shares and may be implemented, modified, suspended or discontinued in whole or in part at any time without further notice.

In total, the $500 million share repurchase authorization represents approximately 43% of the Company’s outstanding common stock, based upon the Company’s closing price on August 20, 2024. As of August 20, 2024, Helen of Troy had approximately 22.8 million shares outstanding.

Noel M. Geoffroy, Chief Executive Officer, stated: “This share repurchase authorization underscores the confidence our management team and our Board have in our strategic initiatives, the strength of our brands, and the long-term growth opportunities we have ahead of us. Our business continues to generate significant cash flow and we remain committed to our planned growth investments, to reducing our net leverage ratio by the end of the fiscal year, and to the disciplined deployment of capital to deliver long-term, sustainable value creation for our shareholders.”

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