By Dean Seal
Edgewell Personal Care, the renowned maker of razors and feminine-care products, reported a decline in profit for the fiscal fourth quarter. This drop was primarily caused by lower sales and increased overhead costs.
- In the same quarter a year ago, the company recorded a profit of $33.7 million, or 64 cents a share.
- However, in the recent quarter, Edgewell's profit decreased to $29.5 million, or 57 cents a share.
- After excluding one-time items, adjusted earnings were 72 cents a share, surpassing analysts' expectations of 64 cents a share.
- Despite the decline in profit, Edgewell's sales figures fared better than projected.
- The company's sales slipped from $536.9 million to $534.1 million in the year-ago quarter.
- Analysts forecasted sales of $531.5 million for this quarter, making Edgewell's results slightly better.
Global Sales Performance
- Edgewell experienced a nearly 2% decline in overall sales on an organic basis.
- This decrease was observed both internationally and in North America.
- The international market decline was primarily due to inventory reduction actions in Wet Shave in Japan. However, this was offset by growth in sun and skin care products.
- In North America, the decline was driven by lower sales figures in sun care and feminine care.
- Selling, general, and administrative expenses rose for Edgewell Personal Care.
- This increase was a result of higher compensation expenses, including incentives and personnel costs.
- Additionally, the impact of unfavorable foreign currency translation contributed to rising costs.
These developments have highlighted the challenges that Edgewell Personal Care faces. However, the company remains optimistic about its ability to navigate through these obstacles and continue providing high-quality products to its loyal customers.
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