05.09.23
Net sales for Edgewell Personal Care Company in Q2 2023 were $598.4 million for the period ended March 31, 2023.
This represents an increase of 9.3% compared to the prior year quarter.
Organic net sales increased 11.4%. GAAP diluted net earnings per share (EPS) were $0.37 for the second fiscal quarter compared to $0.43 in the prior year quarter. Adjusted EPS were $0.56, inclusive of a $0.16 unfavorable impact from currency movements, compared to $0.50 in the prior year quarter.
Wet Shave
Net sales for wet shave increased $3.6 million, or 1.2%. Organic net sales increased $14.0 million or 4.6%, with balanced growth in both North America and international markets, driven largely by increased pricing, as volumes were essentially flat. Growth in men's systems, disposable's and shave preps was partly offset by declines in women's systems. Wet Shave segment profit increased $7.5 million, or 27.1%. Organic segment profit, excluding the unfavorable impact from currency increased $14.6 million, reflecting higher organic net sales and gross profit as well as lower marketing expense.
Sun and Skin Care
Net sales for sun and skin care increased $26.4 million, or 14.4%. Organic net sales increased $27.5 million, or 15.0%, driven by strong sun care and men's grooming sales. International markets increased 53.4%, driven by higher volumes and pricing in Europe, Latin America and Oceania, while North America organic net sales increased 7.6%, also reflecting higher volumes and pricing. Segment profit decreased $2.4 million, or 5.6%. Organic segment profit decreased $2.3 million, or 5.4%, as the benefit from higher organic net sales was more than offset by significantly higher cost of goods sold and increased marketing expense.