Helen of Troy (NASDAQ:HELE) is expected to report lower revenue and earnings for the second quarter of its financial year when it reports back to investors before the opening bell on October 4, 2023.
That’s unlikely to come as a surprise, however, after the company highlighted in its last earnings call that it anticipates a declined in adjusted EPS for the first half of fiscal 2024, but growth in the second half.
The consumer products company, whose brands include Vicks, Braun, Hydro Flask, Osprey, Honeywell (NYSE:HON), among others, has faced a number of headwinds including inflationary pressures, shifting buying patterns and reduced consumer demand.
Its 'Project Pegasus' restructuring plan, currently underway, is aimed at expanding operating margins through initiatives designed to improve efficiency and reduce costs.
The company is expected to report a 6.9% fall in revenue to $485.5 million, according to analysts surveyed by Zacks Investment Research. That's in line with the 6% to 8% decline the company has already flagged.
Consensus is for earnings of $1.60 per share, down 30% from a year ago.
Ahead of the results, the company’s shares traded 3.2% lower by midday in New York on Tuesday.
Contact the author at stephen.gunnion@proactiveinvestors.com