Helen of Troy Limited Announces $500 Million Share Repurchase Authorization

Helen of Troy Limited has announced that its board of directors has authorized the repurchase of $500 million of its outstanding common shares in keeping with its stated intention to opportunistically return to shareholders capital not otherwise deployed for core business growth or strategic acquisitions.

“This share repurchase authorization underscores the confidence our management team and our board have in our strategic initiatives, the strength of our brands, and the long-term growth opportunities we have ahead of us,” said Noel M. Geoffroy, chief executive officer. “Our business continues to generate significant cash flow and we remain committed to our planned growth investments, to reducing our net leverage ratio by the end of the fiscal year, and to the disciplined deployment of capital to deliver long-term, sustainable value creation for our shareholders.”

The authorization was approved as part of the board’s regular process of reviewing the company’s capital allocation and existing authorization. It is effective Aug. 20, 2024 for a period of three years and replaces Helen of Troy’s existing repurchase authorization, of which approximately $245.3 million remained at the time the new authorization was approved.

In total, the $500 million share repurchase authorization represents approximately 43% of the company’s outstanding common stock, based upon its closing price on Aug. 20, 2024. As of Aug. 20, 2024, Helen of Troy had approximately 22.8 million shares outstanding.