Edgewell Personal Care
EPC
$16.73 -1.06%
Exchange: NYSE | Sector: Consumer Defensive | Industry: Household Personal Products
Q2 2024
Published: May 8, 2024

Earnings Highlights

  • Revenue of $599.40M up 0.2% year-over-year
  • EPS of $0.72 increased by 94.6% from previous year
  • Gross margin of 43.1%
  • Net income of 36.00M
  • "The quarter delivered significant margin benefits driven by productivity and price management, enabling us to raise our full-year EBITDA and EPS outlook." - Rod Little
EPC
Company EPC

Executive Summary

Edgewell reported QQ2 2024 organic results characterized by modest top-line growth and substantial margin expansion. Revenue rose to $599.4 million, with adjusted gross margin expanding by 320 basis points and an overall gross margin of ~43.1%. Adjusted EBITDA reached $99.7 million (GAAP EBITDA $101.1 million) driven by productivity savings and price/revenue management, contributing to a marked earnings uplift with adjusted EPS of $0.88 (GAAP EPS $0.72). Management emphasized that half-year performance supported a raised full-year outlook for EBITDA and EPS, reflecting a durable margin expansion trajectory and ongoing monetization of productivity initiatives. International markets were a bright spot, delivering nearly 6% organic growth, while North America faced softer consumption and drug-channel headwinds, particularly in Wet Shave and FemCare. Management highlighted a multi-brand strategy, accelerated innovation, and brand relaunches (Carefree master brand, Billie body care) as key growth drivers for H2 2024 and into fiscal 2025. Free cash flow remained robust, with $56.1 million operating cash flow in the first half and a net debt leverage ratio of 3.4x, underscoring a solid liquidity position despite a leveraged balance sheet. Overall, Edgewellโ€™s QQ2 results validate its dual priority of accelerating margin accretion while investing selectively behind high-potential growth vectors in Sun, Grooming, and international markets.

Key Performance Indicators

Revenue
Increasing
599.40M
QoQ: 22.60% | YoY: 0.17%
Gross Profit
Increasing
258.10M
43.06% margin
QoQ: 30.55% | YoY: 6.52%
Operating Income
Increasing
70.10M
QoQ: 168.58% | YoY: 23.42%
Net Income
Increasing
36.00M
QoQ: 650.00% | YoY: 85.57%
EPS
Increasing
0.72
QoQ: 651.57% | YoY: 94.59%

Revenue Trend

Margin Analysis

Historical Earnings Comparison

PeriodRevenue ($M)EPS ($)YoY GrowthReport
Q2 2025 580.70 0.60 -3.1% View
Q1 2025 478.40 -0.04 -2.2% View
Q4 2024 517.60 -1.79 -3.1% View
Q3 2024 647.80 0.98 -0.3% View
Q2 2024 599.40 0.72 +0.2% View