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NEW YORK - Edgewell Personal Care Company (NYSE:EPC) reported second quarter earnings and revenue that fell short of analyst expectations and cut its full-year guidance on Wednesday.
The consumer products maker’s shares plunged 8.49% in premarket trading following the release.
The company, which owns brands like Schick razors and Banana Boat sunscreen, posted adjusted earnings per share of $0.87 for the quarter ended March 31, missing the consensus estimate of $0.90. Revenue came in at $580.7 million, below Wall Street’s forecast of $591.01 million.
Edgewell’s organic net sales decreased 1.5% year-over-year, driven by volume declines in North America across its Wet Shave, Feminine Care, and Sun Care segments. This was partially offset by 2.9% growth in international markets.
"While execution across much of the business is strong, we recognize that work remains to better position our portfolio in the competitive U.S. market," said CEO Rod Little in a statement.
Looking ahead, Edgewell lowered its fiscal 2025 outlook, now expecting adjusted EPS of $2.85 to $3.05, down from its previous guidance of $3.15 to $3.35 and below the analyst consensus of $3.15. The company cited expectations for a challenging economic environment to negatively impact consumer sentiment and behavior.
Despite the setback, Little expressed confidence that increased investments in Wet Shave and Sun Care portfolios in the U.S., along with a continued focus on strategic priorities, will strengthen Edgewell’s business over the long term.
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