Vicks parent Helen of Troy blows past earnings estimates for fiscal first quarter
Shares of Helen of Troy Ltd. rose 2.5% in premarket trade Thursday, after the parent of a portfolio of consumer brands, including Oxo, Vicks and Braun, blew past earnings estimates for its fiscal first quarter. El Paso, Texas-based company posted net income of $60.3 million, or $2.37 a share, in the quarter to May 31, up from $40.7 million or $1.61 a share, in the year-earlier period. Adjusted per-share earnings came to $2.53, well ahead of the $1.49 FactSet consensus. Sales climbed to $420.8 million from $376.3 million, also ahead of the $347.0 million FactSet consensus. Online sales rose 33% as the pandemic closed stores. "Our Health & Home segment led the way with sales growth of 29%," Chief Executive Julien Mininberg said in a statement. "Beauty and Housewares both held up very well in the face of many store closures and the unprecedented level of unemployment and personal disruption due to COVID-19." The company is not offering guidance, given the "net impact of the pandemic on our consumers and supply is still very fluid and uncertain," said Mininberg, although it is lifting some of the measures taken to preserve cash flow in the face of the crisis. The company ended the quarter with $88.5 million in cash, and short and long-term debt of $324.9 million. Shares have gained 8.5% in the year to date, while the S&P 500 has fallen 1.9%.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.