Helen of Troy (NASDAQ:HELE) Ltd, the consumer products company known for brands like Vicks, Braun, and Hydro Flask, shares reached a five-month high on Monday following better-than-expected 1Q results.
The company's net income for the quarter ending May 31 declined to $22.6 million, or $0.94 per share, compared to $24.6 million, or $1.02 per share, during the same period last year.
However, after excluding nonrecurring items, adjusted earnings per share reached $1.94, exceeding the FactSet consensus of $1.68.
While sales fell by 6.6% to $474.7 million, it still outperformed the FactSet consensus of $465.4 million, and gross margin improved to 45.4% from 41.6%.
The company reaffirmed its fiscal 2024 adjusted EPS outlook of $8.50 to $9 and expressed confidence that the upcoming cold and flu season would align with historical patterns before COVID-19.
Shares of Helen of Troy (NASDAQ:HELE) were up 17.4% at $132.11 following the earnings beat.
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