Guidance And PerformanceHNST lowered FY guidance, implying weak Q4 performance, citing a still challenged consumer backdrop.
Revenue DeclineHNST Q3 results came in well below consensus, primarily driven by a revenue decline, driven by softness in diapers, apparel, and honest.com.
Short-term Financial PressureThe wind-down of lower-margin, non-strategic businesses will create short-term financial pressure and is expected to incur $25M-$35M in one-time costs.