Helen of Troy Limited (HELE) topped market estimates on revenues and earnings for the second quarter of 2019, lifting the stock by more than 4% during premarket hours on Tuesday.
The consumer products company reported a 14.1% growth in consolidated net sales revenue to $393.5 million from the same period last year. The sales increase reflected higher brick-and-mortar sales in the Housewares and Health & Home segments along with growth in online and international sales.
Net income from continuing operations was $44 million or $1.66 per diluted share compared to $34.6 million or $1.26 per diluted share in the prior-year period. Adjusted net income was $52.5 million or $1.98 per diluted share.
The quarterly results benefited from strategic investments in Leadership Brands and infrastructure. Net sales in Leadership Brands maintained its growth trajectory, increasing 20.5% during the quarter while sales in the online channel grew 16.1%.
Net sales improved in the Housewares and Health & Home segments, driven by various factors including point of sale growth with existing domestic customers, new product introductions and higher sales of seasonal products. The Beauty segment saw a decline in net sales mainly due to lower brick-and-mortar sales and rationalization of certain brands and products.
The company is increasing its outlook for full-year 2019 and now expects consolidated revenues of $1.53 billion to $1.56 billion, which reflects a sales growth of 3.8% to 5.5%. Consolidated GAAP diluted EPS from continuing operations is expected to be $6.31 to $6.46 and adjusted diluted EPS is expected to be $7.65 to $7.90.
For the Housewares segment, sales are expected to grow 9% to 11% and in Health & Home, sales are expected to grow 5% to 7%. Net sales in the Beauty segment are expected to decline in the low to mid single-digits.
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