Helen of Troy (NASDAQ:HELE) announced Q2 earnings per share (EPS) of $1.74, surpassing the Street estimate of $1.64. The company reported revenue of $491.6 million for the quarter, higher than the Street estimate of $484.79 million. However, the stock experienced a more than 7% intra-day decline due to disappointing guidance.
Julien Mininberg, Chief Executive Officer, expressed satisfaction with the quarter’s results, highlighting that they achieved net sales and adjusted EPS at the upper end of their expectations. The company met its revenue expectations for most of its Leadership Brands, and international performance was notably strong. Helen of Troy also focused on supporting significant new product launches, substantially improving gross margin, and returning value to shareholders through share repurchases.
In terms of guidance, Helen of Troy anticipates fiscal 2024 EPS in the range of $8.50 to $9.00, compared to the Street estimate of $8.91. The company expects 2024 revenue to fall between $1.965 billion and $2.015 billion, compared to the Street estimate of $2.003 billion.