Edgewell Personal Care(US:EPC) Prnewswireยท2024-11-07 11:00Core Insights - Edgewell Personal Care Company reported a slight increase in net sales for FY 2024, with a 0.1% rise to $2,253.7 million, while organic net sales saw a 0.2% increase [2][16] - The company experienced a decrease in GAAP EPS by 11% to $1.97, but adjusted EPS increased by 18% to $3.05, reflecting strong operational performance [2][24] - The company returned approximately $90 million to shareholders through dividends and share repurchases during FY 2024 [2][25][26] - For FY 2025, the company anticipates growth in organic net sales between 1% to 3% and adjusted EPS growth of 7%, or 13% on a constant currency basis [2][27] Financial Performance - In Q4 FY 2024, net sales were $517.6 million, a decrease of 3.1% compared to the prior year quarter, with organic net sales down 2.8% [2][5] - Gross profit for Q4 FY 2024 was $212.8 million, with a gross margin of 41.1%, down 170 basis points from the prior year [6][35] - Selling, general and administrative expenses (SG&A) were $109.2 million, representing 21.1% of net sales, which is relatively flat compared to the previous year [7][18] - The company recorded pre-tax restructuring and repositioning expenses of $22.8 million in Q4 FY 2024, primarily for cost efficiency programs [8][19] Segment Performance - The Wet Shave segment saw a net sales decrease of 1.5% in Q4 FY 2024, while the Sun and Skin Care segment experienced a 3.8% decline [14][15] - Feminine Care net sales decreased by 8.9%, with growth in tampons offset by declines in pads and liners [16] - For the full fiscal year, international markets showed a 7.3% growth in organic net sales, while North America saw a 3.8% decline [16][17] Cash Flow and Capital Allocation - Net cash from operating activities for the twelve months ended September 30, 2024, was $231.0 million, an increase from $216.1 million in the previous year [14][38] - The company declared a cash dividend of $0.15 per common share for Q4 FY 2024, payable in January 2025 [25] - Share repurchases totaled approximately 1.6 million shares at a cost of $58.5 million for FY 2024 [26] Outlook - The company expects reported net sales growth of approximately 1.7% to 3.7% for FY 2025, with adjusted EBITDA projected between $356 million to $368 million [27][28] - Adjusted gross margin is anticipated to increase by approximately 75 basis points, with free cash flow expected to be around $185 million [27]