Schick, Wet Ones parent Edgewell beats profit and sales expectations, gives in-line outlook

Edgewell Personal Care Co. /zigman2/quotes/206004250/composite EPC +0.27% reported Thursday fiscal fourth-quarter profit that more than doubled and revenue that rose above expectations, and while demand is improving supply-chain disruptions are ongoing and inflation is "significant." Shares of the consumer products company, which brands include Schick, Playtex, Hawaiian Tropic and Wet Ones, were still inactive in premarket trading. Net income for the quarter to Sept. 30 rose to $44.1 million, or 80 cents a share, from $21.0 million, or 38 cents a share, in the year-ago period. Excluding nonrecurring items, adjusted earnings per share of $1.01 beat the FactSet consensus of 84 cents. Sales grew 11.1% to $543.2 million, above the FactSet consensus of $522.4 million, while cost of sales increased 11.9%. Wet shave sales rose 3.8%, sun and skin care sales jumped 37.9% and feminine care sales increased 9.9%. For fiscal 2022, the company expects adjusted EPS of $2.98 to $3.26, surrounding the FactSet consensus of $3.07, and sales growth in the low-single digit percentage range, while the FactSet sales consensus of $2.10 billion implies 3.7% growth. The stock has dropped 15.5% over the past three months, while the S&P 500 /zigman2/quotes/210599714/realtime SPX +1.30% has gained 4.5%.