08.03.23
Edgewell Personal Care’s net sales in the third fiscal quarter were $650 million, an increase of 4.2%, including a $1.7 million unfavorable impact from currency movements. Organic net sales increased 4.5%, as international markets increased 8.7%, driven by strong Wet Shave, Sun Care and Grooming performance and North America markets increased 2.3%, driven by Sun Care and Grooming growth. In aggregate, growth in organic net sales was driven by increased pricing.
Feminine Care (Tampons, Pads, and Liners) net sales decreased $0.3 million, or 0.4%. Organic net sales were in-line with prior year, reflecting lower volumes, offset by higher pricing. Segment profit increased $5.1 million. Organic segment profit increased $5.2 million, or 59.1%, primarily driven by higher gross margin.
"Our results this quarter continued to demonstrate the success of our transformation, as we delivered strong organic net sales and earnings per share growth, expanded gross margin and generated substantial cash," says Rod Little, Edgewell's president and CEO. "These results reflect the underlying strength of our business, our broad portfolio of consumer centric brands, and the breadth of our global business. While the macro environment remains uncertain, and our Sun Care business has been impacted by unfavorable weather, we are on track to deliver our third consecutive year of 4% organic net sales growth, and Adjusted EPS and Adjusted EBITDA at or above the high end of our previously provided outlook ranges. Notably, we remain focused on executing against our strategic priorities which position us to deliver sustained growth and value creation."
Feminine Care (Tampons, Pads, and Liners) net sales decreased $0.3 million, or 0.4%. Organic net sales were in-line with prior year, reflecting lower volumes, offset by higher pricing. Segment profit increased $5.1 million. Organic segment profit increased $5.2 million, or 59.1%, primarily driven by higher gross margin.
"Our results this quarter continued to demonstrate the success of our transformation, as we delivered strong organic net sales and earnings per share growth, expanded gross margin and generated substantial cash," says Rod Little, Edgewell's president and CEO. "These results reflect the underlying strength of our business, our broad portfolio of consumer centric brands, and the breadth of our global business. While the macro environment remains uncertain, and our Sun Care business has been impacted by unfavorable weather, we are on track to deliver our third consecutive year of 4% organic net sales growth, and Adjusted EPS and Adjusted EBITDA at or above the high end of our previously provided outlook ranges. Notably, we remain focused on executing against our strategic priorities which position us to deliver sustained growth and value creation."