US' Edgewell's gross profit down to $256.2 million in Q2 FY25
Adjusted gross margin, as a percent of net sales, increased 100-basis points, or increased 110-basis points at constant currency. Productivity savings of approximately 380-basis points were partially offset by 195-basis points of core inflation and volume absorption and 85-basis points of unfavourable mix and increased promotional levels (net of pricing).
Edgewell Personal Group reported Q2 FY25 gross profit of $256.2 million, down slightly from $258.1 million, with gross margin rising 100 bps to 44.1 per cent. Net sales fell 3.1 per cent to $580.7 million International growth offset US challenges. Organic net sales of 2025 are expected to be flat to up 1 per cent, with GAAP EPS revised down to $2.09â€'$2.29.
Net sales were $580.7 million in Q2 FY25, a decrease of 3.1 per cent, including a $9.8 million unfavourable impact from currency movements. Organic net sales decreased $8.9 million, or 1.5 per cent. Growth in international markets was 2.9 per cent, driven by both price and volume gains, the company said in a press release.
"We continue to execute well on our strategic priorities, acting with urgency, discipline, and purpose in a challenging and volatile environment. Our focus on business fundamentals has led to top-line growth in our International business and accelerated gross margin expansion through excellent execution of our productivity programme. While execution across much of the business is strong, we recognise that work remains to better position our portfolio in the competitive US market. Therefore, we remain in an investment stance, reinforcing brand equity and supporting innovation,' said Rod Little, president and chief executive officer.
Net sales of Feminine Care (tampons, pads, and liners) segment decreased $6.4 million, or 9.1 per cent with minimal currency impact, largely driven by a decline in pads and tampons. Segment profit decreased $5.6 million, or 64.4 per cent. Organic segment profit decreased $5.7 million, or 65.5 per cent, primarily driven by lower gross profit and higher marketing expenses, partially offset by lower SG&A expenses.
'As we look forward to the second half of the year, we expect the challenging economic environment to negatively impact consumer sentiment and behaviour, moderating our top-line expectations. I am confident that these investments, along with our continued focus on strategic priorities and disciplined execution, will strengthen our business and better position Edgewell to deliver significant value creation for our shareholders,' explained Little.
For fiscal 2025, organic net sales are now expected to be in the range of flat to 1 per cent (previously in the range of 1 per cent to 3 per cent). Currency is now expected to negatively impact reported net sales by 10-basis points (previously, 160-basis points negative). GAAP EPS is now expected to be in the range of $2.09 to $2.29 (previously in the range of $2.54 to $2.74).
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