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Nov. 12, 2020, 6:15 a.m. EST

Edgewell Personal Care tops earnings estimates despite pandemic challenges

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By Ciara Linnane

Consumer products company Edgewell Personal Care Co. /zigman2/quotes/206004250/composite EPC +0.94% posted stronger-than-expected earnings for its fiscal fourth quarter, despite the challenges created by the coronavirus pandemic. The parent of Schick and Wilkinson Sword shaving brands said it had net income of $21.0 million, or 38 cents a share, in the quarter to Sept. 30, down from $40.7 million, or 75 cents a share, in the year-earlier period. Adjusted per-share earnings came to 59 cents, ahead of the 57 cents FactSet consensus. Sales fell to $488.8 million from $528 million, also ahead of the $466.0 million FactSet consensus. "North American Wet Shave and Sun Care, and continued expansion of our Wet Ones brand, were all areas of strength," Chief Executive Rod Little said in a statement. The company expects its Project Fuel savings program to generate $265 million to $275 million in total annual gross savings by the end of the fiscal 2021 year. It expects to book one-time, pretax charges of about $160 million to $165 million in the same period. For fiscal 2020, Edgewell expects sales to grow in the mid-single digits and EPS to range from $2.18 to $2.38. Shares were not active premarket, but have gained 5.6% in the year to date, while the S&P 500 /zigman2/quotes/210599714/realtime SPX +0.40% has gained 10.6%.

/zigman2/quotes/206004250/composite
US : U.S.: NYSE
$ 42.81
+0.40 +0.94%
Volume: 184,128
Aug. 15, 2022 4:00p
P/E Ratio
21.39
Dividend Yield
1.40%
Market Cap
$2.24 billion
Rev. per Employee
$315,652
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/zigman2/quotes/210599714/realtime
US : S&P US
4,297.14
+16.99 +0.40%
Volume: 2.22B
Aug. 15, 2022 5:46p
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