Helen of Troy reports Q2 non-GAAP EPS 59c, consensus 53c

Reports Q2 revenue $431.8M, consensus $417.7M. CEO G. Scott Uzzell stated: “I joined Helen of Troy (HELE) last month with a deep admiration for its global brands, differentiated product solutions, solid financial foundation, and dedicated associates. While I continue to listen and learn, I am confident in our ability to engineer a great comeback story. We made progress in the second quarter, but there are no quick fixes as we work to get back on a path to growing market share and driving sustainable growth. Moving forward, the consumer will be at the center of everything we do. We will invest in our associates to inspire new innovations that deliver unique solutions designed to win in the marketplace and generate future attractive returns for our shareholders”. CFO Brian Grass stated: “While we are not satisfied with our results, Q2 marked a step forward with net sales and adjusted earnings per share at the better end of our guidance. We continue to adapt to significant business disruption and cost headwinds, which are considered in our outlook for the remainder of the year. I’m encouraged by the measures we implemented during the quarter to enhance our execution, operational efficiency, and go-to-market effectiveness, while taking decisive action to fuel more product-driven growth across the portfolio. We are making a concerted effort to maintain ongoing investment in the health of our brands, while optimizing our productivity as we navigate a difficult environment.”