Helen of Troy (HELE) on Tuesday reported third-quarter earnings that surpassed analysts’ expectations. The maker of consumer products said its adjusted earnings declined 4% to $2.40 per share, higher than $2.16 per share expected by analysts.
Consolidated net sales revenue rose 2.4% to $431.1 million driven by growth in Housewares segment and online sales. This came above analysts’ consensus of $420.2 million.
Total online sales for the quarter jumped 6%, and currently constitutes 18% of the company’s total net sales. HELE shares jumped 2.2% following the results.
CEO Julien R. Mininberg said, “We will focus on driving further improvements to our current businesses, our geographic footprint, our global shared services, and the overall strength of our organization. We will also seek to add to our Leadership Brand portfolio through acquisition.”
Helen of Troy narrowed its consolidated net sales revenue outlook for fiscal 2019 to $1.535 to $1.550 billion, representing a 3.8% to 4.8% growth. The company lowered its outlook for Housewares and Health & Home segments.
Housewares sales are now projected to grow between 11% and 13%, compared to the prior range of 9% to 11%, while Health & Home sales growth is anticipated between 2% and 4%, compared to the prior guidance of 5% To 7%.
Beauty segment will see a net sales decline in the low- to mid-single digits, as projected earlier.
Helen of Troy now expects GAAP diluted EPS from continuing operations of $6.35 to $6.51 for the full year, and non-GAAP adjusted diluted EPS from continuing operations in the range of $7.70 to $7.95,
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