Edgewell Personal Care Company (EPC)

Edgewell Personal Care Company to Webcast a Discussion of Third Quarter Fiscal Year 2026 Results on August 5, 2026July 9, 2026 4:06 PM
PR Newswire (US) SHELTON, Conn., July 9, 2026 /PRNewswire/ -- Edgewell Personal Care Company [NYSE: EPC] will report its financial results for the third quarter fiscal year 2026 before the market opens on August 5, 2026.  Edgewell will discuss its results during an investor conference call that will be webcast on August 5, 2026, beginning at 8:00 a.m. Eastern Time. The call will be hosted by President and Chief Executive Officer Rod Little and Chief Financial Officer Francesca Weissman. All interested parties may access a live webcast of this conference call at www.edgewell.com, under "Investors," and "News and Events" tabs or by using the following link: http://ir.edgewell.com/news-and-events/eventsFor those unable to participate during the live webcast, a replay will be available at www.edgewell.com, under "Investors," "Financial Reports," and "Quarterly Earnings" tabs. About Edgewell Personal Care:Edgewell is a leading pure-play consumer products company with an attractive, diversified portfolio of established brand names such as Schick® and Wilkinson Sword® men's shaving products; Schick® and Billie® women's shaving products; Edge® and Skintimate® shave preparations; Banana Boat®, Hawaiian Tropic®, Bulldog®, Jack Black® and Cremo® sun and skin care products; and Wet Ones® moist wipes.  The Company has a broad global footprint and operates in more than 50 markets, including the U.S., Canada, Mexico, Germany, Japan, the U.K. and Australia, with approximately 6,200 employees worldwide. View original content to download multimedia:https://www.prnewswire.com/news-releases/edgewell-personal-care-company-to-webcast-a-discussion-of-third-quarter-fiscal-year-2026-results-on-august-5-2026-302822267.htmlSOURCE Edgewell Personal Care Company Original: Edgewell Personal Care Company to Webcast a Discussion of Third Quarter Fiscal Year 2026 Results on August 5, 2026

Edgewell Personal Care Releases its 2025 Sustainability ReportJune 30, 2026 3:31 PM
PR Newswire (US) The Company Discloses its Progress from the 2025 Fiscal Year Across its Business and FunctionsSHELTON, Conn., June 30, 2026 /PRNewswire/ -- Edgewell Personal Care Company (NYSE: EPC) has released its fiscal 2025 Sustainability Report. The report dives into the progress and achievements toward its Sustainable Care strategy, which continues to serve as a roadmap to guide the Company's path forward. The FY25 report covers key sustainability topics as they relate to our strategy, across three pillars - our Brands, Operations and Supply Chain, and our People and Communities. Rod Little, President and Chief Executive Officer of Edgewell Personal Care, said, "Fiscal 2025 has been another year of progress in Edgewell's transformation. This continued momentum reflects the effectiveness of our strategy and the business model we have been building as we focus on our brands, our consumers and operational excellence. Looking to the future, we remain committed to this important journey and to our Sustainable Care priorities. While the external environment will always be shifting, one thing is clear: Edgewell's commitment to operating responsibly will remain steadfast. With consumers at the center of all that we do, I am confident that our sustainability strategy, innovation and leadership will continue to move us forward."In fiscal 2025, Edgewell continued to make progress toward its sustainability objectives, which can be seen throughout the report:Products & Packaging:Reduced virgin petroleum-based plastic1 in disposable razor handles by 30.8% versus FY19 baseline.Reduced virgin petroleum-based plastic¹ in packaging by 31.0% versus FY19 baseline.83.2% of our packaging was designed for recycling or reuse.91.1% of our fiber- and paper-based packaging used recycled and/or certified responsibly sourced fiber.2Operations & Supply Chain:Reduced GHG emissions by 40% versus FY19 baseline.88% of the waste from our manufacturing facilities was diverted from landfill.Continued to source 100% certified sustainable palm oil for use in our products.3People & Community:More than 207,000 recognition moments have been celebrated by our teammates since the program launched in FY21.For FY25, 86% of teammates reported feeling satisfied with Edgewell as a place to work in our annual Global Experience Survey.Achieved one of EPC's strongest safety results to date, with an injury rate of 0.51, exceeding our goal of

Edgewell Personal Care Announces Second Quarter Fiscal 2026 ResultsMay 6, 2026 6:00 AM
PR Newswire (US) Q2 Results Exceeded Expectations for Sales, Adjusted EPS and EBITDAReaffirms Full-Year Outlook for Organic Net Sales, Adjusted EPS and EBITDA, Adjusted Free Cash Flow SHELTON, Conn., May 6, 2026 /PRNewswire/ -- Edgewell Personal Care Company (NYSE: EPC) today announced results for its second fiscal quarter 2026 ended March 31, 2026.  Fiscal Q2 2026 Executive SummaryContinuing Operations Basis (Excluding the Feminine Care Business)Net sales were $519.5 million, an increase of 0.6% compared to the prior year quarter.Organic net sales decreased 2.4% (Organic basis excludes the impact from currency movements).GAAP Diluted Net Earnings Per Share ("EPS") were $0.09, compared to $0.43 in the prior year quarter.Adjusted EPS were $0.60, compared to $0.69 in the prior year quarter.Ended the second quarter with $299.7 million in cash on hand, access to an additional $418.8 million revolving credit facility.Returned $22.9 million to shareholders in the form of $15.8 million in share repurchases and $7.1 million of dividends in the second quarter.The Board of Directors declared a cash dividend of $0.15 per common share on May 6, 2026, for the second quarter."We delivered a strong second quarter, with results ahead of our expectations, driven by improved execution and innovation that is resonating with consumers, reflected in the continued momentum in brands like Cremo, Hawaiian Tropic and Billie," said Rod Little, President and Chief Executive Officer of Edgewell Personal Care. "We are moving forward with a simpler, higher-quality portfolio with a stronger margin profile, allowing us to allocate capital to the categories and markets where we have clear competitive advantages. As we look ahead, we are committed to executing against our four strategic priorities—international growth, innovation, productivity, and our U.S. commercial transformation—which underpin our confidence in returning to organic growth, expanding margins, and improving cash flow over the balance of the year and beyond."Unless otherwise noted, reported results in this release are based on continuing operations and exclude the Feminine Care business which is treated as discontinued operations. The Company reports and forecasts results on a GAAP and non-GAAP basis and has reconciled non-GAAP results and outlook to the most directly comparable GAAP measures later in this release. See non-GAAP Financial Measures for a more detailed explanation, including definitions of various non-GAAP terms used in this release. All comparisons used in this release are for the same period in the prior fiscal year unless otherwise stated.Fiscal 2Q 2026 Operating Results from Continuing Operations (Unaudited)Net sales were $519.5 million, an increase of 0.6%, including a $15.5 million favorable impact from currency movements. Organic net sales decreased $12.6 million, or 2.4%.  Organic growth in International markets was 1.0%, largely driven by volume growth in Wet Shave and favorable pricing in Wet Shave and Sun Care. Organic sales declined in North America by 4.8%, driven primarily by lower volumes in Wet Shave and Sun Care, partially offset by volume growth in Grooming. Gross profit was $216.9 million, as compared to $236.9 million in the prior year quarter. Gross margin as a percent of net sales was 41.8%, a decrease of 410-basis points. Adjusted gross margin as a percent of net sales decreased 310-basis points, to 43.4% in the quarter. Productivity savings of approximately 220-basis points were more than offset by 420-basis points of core inflation and tariffs, 70-basis points of unfavorable mix and promotional levels (net of pricing), and 40-basis points of unfavorable currency movements. Advertising and sales promotion expense ("A&P") was $58.6 million, or 11.3% of net sales, a decrease of $1.3 million, compared to $59.9 million, or 11.6% of net sales in the prior year quarter.     Selling, general and administrative expense ("SG&A") was $111.0 million, or 21.4% of net sales, as compared to $102.8 million, or 19.9% of net sales in the prior year quarter. Adjusted SG&A was 20.1% of net sales, compared to 19.6% in the prior year quarter, which was primarily driven by higher consulting and corporate expenses and unfavorable currency impacts, partly offset by lower people costs.  The Company recorded pre-tax restructuring and related charges in support of cost efficiency and effectiveness programs of $23.0 million in the quarter.Operating income was $18.4 million, or 3.5% of net sales, inclusive of a $0.5 million, or 20-basis points positive impact from favorable currency movements, compared to $49.0 million, or 9.5% of net sales in the prior year quarter. Adjusted operating income was $49.4 million, or 9.5% of net sales, compared to $66.0 million, or 12.8% of net sales in the prior year quarter.    Interest expense associated with debt was $17.9 million, compared to $20.2 million in the prior year quarter. The decrease in interest expense was the result of lower borrowing levels on the Company's U.S. revolving credit facility due to the paydown of the facility with the proceeds of the Feminine Care divestiture.Other (income) expense, net was $(7.4) million compared to $(2.6) million in the prior year quarter. The current year quarter included $6.7 million of Transition Services Agreement ("TSA") income. Additionally, the current year quarter included $0.2 million of other project gains, compared to $0.6 million in the prior year quarter. Currency hedge and remeasurement losses were $0.9 million in the current quarter, compared to gains of $2.4 million in the prior year quarter. Adjusted other (income) expense, net was $(7.2) million compared to $(2.0) million in the prior year quarter.The effective tax rate for the first six months of fiscal 2026 was 13.1% compared to 42.6% in the prior year period. The current year period reflects a tax benefit on a loss. The fiscal 2026 effective tax rate reflects more favorable discrete and unusual items resulting in a tax benefit compared to fiscal 2025. The adjusted effective tax rate for the six months of fiscal 2026 was 24.9%, down from the prior year period adjusted effective tax rate of 33.6%.GAAP net (loss) earnings from continuing operations were $4.0 million or $0.09 per diluted share compared to $20.8 million or $0.43 per diluted share in the prior year quarter. Adjusted net earnings from continuing operations were $27.8 million, or $0.60, per share, inclusive of a $0.04 per share unfavorable currency impact, compared to $32.9 million or $0.69 per share in the prior year quarter. Adjusted EBITDA from continuing operations was $73.8 million, inclusive of a $2.7 million unfavorable currency impact, compared to $84.7 million in the prior year quarter.Net cash used for operating activities on a consolidated basis, inclusive of continuing and discontinued operations was $71.6 million for the six months ending March 31, 2026, compared to $70.5 million in the prior year period. The increase in cash used for operating activities was largely driven by lower earnings, partially offset by changes in working capital. The second quarter ended with $299.7 million in cash on hand, access to $418.8 million under the Company's U.S. revolving credit facility and an adjusted net debt leverage ratio of 4.0x. The adjusted net debt leverage ratio reflects the trailing 12 month continuing operations EBITDA as well as the cash impact from temporary working capital and other items related to the Feminine Care divestiture.Capital AllocationOn May 6, 2026, the Board of Directors declared a quarterly cash dividend of $0.15 per common share for the second fiscal quarter of fiscal 2026. The dividend will be payable on July 9, 2026 to shareholders of record as the close of business on June 10, 2026. During the second quarter of fiscal 2026, the Company paid dividends totaling $7.1 million to stockholders and completed share repurchases of approximately 0.7 million shares at a total cost of 15.8 million. As of March 31, 2026, the Company had approximately $85 million available for share repurchase in the future under the Board's 2025 authorization.Fiscal 2Q 2026 Operating Segment Results (Unaudited)Wet Shave (Men's Systems, Women's Systems, Disposables, and Shave Preps)Net sales increased $8.6 million, or 3.0%. Organic net sales decreased $2.1 million or 0.7%. International markets grew 3.6%, primarily reflecting higher volumes, while North America declined 6.0%, primarily reflecting lower volumes. Segment profit decreased $12.9 million, or 27.7%. Organic segment profit, excluding the unfavorable impact from currency, decreased $12.2 million, or 26.2%, driven by lower gross margins and higher SG&A expense, partially offset by lower marketing expense. Sun and Skin Care (Sun Care, Men's and Women's Grooming Products, and Wet Ones)Net sales decreased $5.7 million, or 2.5%. Organic net sales decreased $10.5 million, or 4.5%, driven by a 8.4% decline in Sun Care. The Sun Care decline primarily reflects lower volumes, as expected, due to the pull-forward of Sun Care orders into the first quarter. Grooming increased 6.3%, driven by significant volume growth in Cremo. Segment profit decreased $3.2 million, or 6.3%, including a favorable impact from foreign currency of $1.2 million, or 2.4%. Organic segment profit decreased $4.4 million, or 8.7%, driven primarily by lower gross profit.Full Fiscal Year 2026 Financial Outlook The Company is providing the following outlook assumptions for fiscal 2026. Unless otherwise stated, this outlook is presented on a continuing-operations basis and excludes the results of the Feminine Care business, which is reported as discontinued operations.Reported net sales are now expected to increase in the range of approximately 0.8% to 3.8% (previously increase 0.5% to 3.5%) Includes an estimated 180-basis point positive impact from foreign currency changes (previously 150-basis point positive impact)Organic net sales are expected to be in the range of a 1.0% decrease to a 2.0% increase (no change to previous outlook)GAAP EPS is expected to be in the range of flat to $0.40 (previously $0.55 to $0.95). The change is reflective of higher estimated Restructuring and related costs and Legal matters.Includes: Restructuring and related costs*, Sun Care reformulation, Legal matters, and Other costs   Adjusted EPS is expected to be in the range of $1.70 to $2.10 (no change to previous outlook)Adjusted gross margin is expected to increase approximately 50-basis points (previously increase 60-basis points). The change is reflective of 10-basis points of incremental negative impact from foreign currency. Adjusted operating margin is expected to decrease approximately 60-basis points (previously decrease 50-basis points), reflecting 70-basis points from higher A&P investment in the current year and 30-basis points from increased SG&A expenseAdjusted EBITDA is expected to be in the range of $245 to $265 million (no change to previous outlook)Other income/expense, net is expected to be approximately $21 million income, (previously $20 million income)Interest expense associated with debt is expected to be approximately $70 millionAdjusted effective tax rate is expected to be approximately 22% to 23%Capital expenditures are expected to be in the range of approximately 3.0% to 3.5% of net salesAdjusted free cash flow is expected to be approximately $80 to $110 million (no change to previous outlook)Adjusted net debt leverage is expected to be approximately in the range of 3.3x to 3.5x at fiscal year endAs previously discussed, in fiscal 2026, the Company is taking specific actions to strengthen its operating model, simplify the organization and improve manufacturing and supply chain efficiency through restructuring and repositioning actions, including the further consolidation of Wet Shave operations. As a result of these actions, the Company expects to incur pre-tax charges of approximately $90 million (previously $65 million) for the full fiscal year.Webcast InformationIn conjunction with this announcement, the Company will hold an investor conference call beginning at 8:00 a.m. Eastern Time today, May 6, 2026. All interested parties may access a live webcast of this conference call at www.edgewell.com, under the "Investors," and "News and Events" tabs or by using the following link:  http://ir.edgewell.com/news-and-events/eventsRefer to Supplemental Slides for fiscal year 2025 quarterly recast adjusted EBITDA reconciliation for continuing operations at www.edgewell.com, under the "Investors," and "News and Events" tabs or by using the following link http://ir.edgewell.com/news-and-events/events for historical financial information related to Company's divestiture of its Feminine Care business consistent with the continuing operations structure.For those unable to participate during the live webcast, a re-play will be available on www.edgewell.com, under the "Investors," "Financial Reports," and "Quarterly Earnings" tabs. This release includes references to the Company's website and references to additional information and materials found on its website. The Company's website and such information and materials are not incorporated by reference in, and are not part of, this release.About EdgewellEdgewell is a leading pure-play consumer products company with an attractive, diversified portfolio of established brand names such as Schick®, Wilkinson Sword® and Billie® men's and women's shaving systems and disposable razors; Edge and Skintimate® shave preparations; Banana Boat®, Hawaiian Tropic®, Bulldog®,  Jack Black®, and CREMO® sun and skin care products; and Wet Ones® products. The Company has a broad global footprint and operates in more than 50 markets, including the U.S., Canada, Mexico, Germany, Japan, the U.K. and Australia, with approximately 6,200 employees worldwide.Forward-Looking Statements. This document contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. You should not place undue reliance on these statements. These forward-looking statements include, but are not limited to, statements concerning our expectations regarding our future results of operations and financial condition; including our ability to return to organic growth, expand, and improve cash flow; our capital allocation plans; our strategy, including our four strategic priorities; impacts from the divestiture of our Feminine Care segment; our potential eligibility for refunds of tariffs previously paid under the International Emergency Economic Powers Act; the effects of macroeconomic factors such as changes in tariffs and inflationary pressures; and conflicts or acts of war (such as the conflict in the Middle East). Additional forward-looking statements can generally be identified by the use of words or phrases such as "believe," "expect," "expectation," "anticipate," "may," "could," "intend," "belief," "estimate," "plan," "target," "predict," "likely," "will," "should," "forecast," "outlook," or other similar words or phrases. These statements are not based on historical facts, but instead reflect the Company's expectations, estimates or projections concerning future results or events, including, without limitation, the future earnings and performance of Edgewell or any of its businesses. Many factors outside our control could affect the realization of these estimates. These statements are not guarantees of performance and are inherently subject to known and unknown risks, uncertainties and assumptions that are difficult to predict and could cause the Company's actual results to differ materially from those indicated by those statements. The Company cannot assure you that any of its expectations, estimates or projections will be achieved. The forward-looking statements included in this document are only made as of the date of this document and the Company disclaims any obligation to publicly update any forward-looking statement to reflect subsequent events or circumstances, except as required by law. You should not place undue reliance on these statements.Factors that could cause fluctuations in our actual results include, but are not limited to, the following: our ability to compete in products and prices, as well as costs, in an intensely competitive industry; the loss of any of our principal customers or changes in the policies of our principal customers; our inability to design and execute a successful omnichannel strategy; our ability to attract, retain and develop key personnel; fluctuations in the price and supply of raw materials and costs of labor, warehousing and transportation; the impact of seasonal volatility on our sales, financial performance, working capital requirements and cash flow; the ability to successfully manage evolving global financial risks, including tariffs, foreign currency fluctuations, currency exchange or pricing controls and localized volatility; the ability to manage disruption of business due to various factors, including ones outside of our control, such as natural disasters, conflicts or acts of war (such as the conflict in the Middle East), terrorism or disease outbreaks; impacts from any loss of our principal customers or changes in the policies or strategies of our customers; our level of indebtedness and the various covenants related thereto, and to generate sufficient income and cash flow to allow the Company to effect expected share repurchases and dividend payments; our failure to maintain our brands' reputation and successfully respond to changing consumer habits; and perceptions of certain ingredients, negative perceptions of packaging, lack of recyclability or other environmental attributes; our access to capital markets and borrowing capacity; impairment of our goodwill and other intangible assets; the ability to successfully manage the financial, legal, reputational and operational risks associated with third-party relationships, such as our suppliers, contract manufacturers, distributors, contractors and external business partners; risks associated with our international operations; our ability to effectively integrate acquired companies and successfully manage divestiture activities; our ability to successfully implement our cost savings initiatives, including rationalization or restructuring efforts; the ability to rely on and maintain key Company and third-party information and operational technology systems, networks and services and maintain the security and functionality of such systems, networks and services and the data contained therein; the ability to successfully achieve, maintain or adjust our environmental or sustainability goals and priorities; the ability to successfully manage current and expanding regulatory and legal requirements and matters (including, without limitation, those laws and regulations involving product liability, product and packaging composition, manufacturing processes, intellectual property, labor and employment, antitrust, privacy, cybersecurity and data protection, artificial intelligence, tax, the environment, due diligence, risk oversight, accounting and financial reporting) and to resolve new and pending matters within current estimates; the ability to adequately protect our intellectual property rights; product quality and safety issues, including recalls and product liability;  losses or increased funding and expenses related to our pension plans; and the other important factors described in our Annual Report on Form 10-K for the fiscal year ended September 30, 2025 ("2025 Annual Report") under Part I. Item 1A. "Risk Factors," and in our other filings with the Securities and Exchange Commission ("SEC"). In addition, other risks and uncertainties not presently known to the Company or that it presently considers immaterial could significantly affect the accuracy of any such forward-looking statements. Risks and uncertainties include those detailed from time to time in the Company's publicly filed documents, including in Item 1A. Risk Factors of Part I of the Company's Annual Report on Form 10-K filed with the Securities and Exchange Commission (the "SEC") on November 18, 2025.Non-GAAP Financial Measures. While the Company reports financial results in accordance with generally accepted accounting principles ("GAAP") in the U.S., this discussion also includes non-GAAP measures. These non-GAAP measures are referred to as "adjusted" or "organic" and exclude items which are considered by the Company as unusual or non-recurring and which may have a disproportionate positive or negative impact on the Company's financial results in any particular period. Reconciliations of non-GAAP measures, including reconciliations of measures related to the Company's fiscal 2026 financial outlook, are included within the Notes to Condensed Consolidated Financial Statements included with this release.This non-GAAP information is provided as a supplement to, not as a substitute for, or as superior to, measures of financial performance prepared in accordance with GAAP. The Company uses this non-GAAP information internally to make operating decisions and believes it is helpful to investors because it allows more meaningful period-to-period comparisons of ongoing operating results. The information can also be used to perform analysis and to better identify operating trends that may otherwise be masked or distorted by the types of items that are excluded. This non-GAAP information is a component in determining management's incentive compensation. Finally, the Company believes this information provides a higher degree of transparency. The following provides additional detail on the Company's non-GAAP measures:The Company utilizes "adjusted" non-GAAP measures including gross margin, SG&A, operating income, operating margin, effective tax rate, net earnings, earnings per share, EBITDA, and other (income) expense to internally make operating decisions.Constant currency measures are calculated by removing the impact of translational and transactional foreign currencies changes, net of foreign currency hedges compared to the prior year. Transactional foreign currency changes are driven by foreign legal entities' transactions not denominated in local currency.The Company analyzes its net sales and segment profit on an organic basis to better measure the comparability of results between periods. Organic net sales and organic segment profit exclude the impact of changes in foreign currency.Segment profit is impacted by fluctuations in translation and transactional foreign currency. The impact of currency was applied to segments using management's best estimate.The Company presents certain metrics on a consolidated and continuing operations basis to help with comparability.Free cash flow is defined as net cash from operating activities, less capital expenditures plus collections of deferred purchase price of accounts receivable sold and proceeds from sales of fixed assets. Adjusted free cash flow is defined as free cash flow, adjusted for the following the one-time operating cash flow impacts associated directly with Feminine Care divestiture including tax, working capital, and deal related fees and expenses. Free cash flow conversion is defined as free cash flow as a percentage of net earnings adjusted for the net impact of non-cash impairments.Net debt is defined as Gross debt less cash and cash equivalents. Net debt leverage ratio is defined as net debt divided by trailing twelve month adjusted EBITDA. Adjusted net debt leverage ratio is defined as net debt divided by continuing operations trailing twelve month adjusted EBITDA, which includes Transition Services Agreement income realized in fiscal Q2 (two months), plus $19 million of pro forma Transition Services Agreement income (ten months). Refer to Supplemental Slides for fiscal year 2025 quarterly recast adjusted EBITDA reconciliation for continuing operations filed on February 9, 2026.Basis of Presentation. In accordance with applicable accounting guidance, the results of the Feminine Care segment are presented as discontinued operations in the condensed consolidated statements of earnings and comprehensive income and, as such, have been excluded from both continuing operations and segment results for all periods presented. Further, the Company reclassified the assets and liabilities of the Feminine Care disposal group as assets and liabilities held for sale in the condensed consolidated balance sheet as of September 30, 2025. The condensed consolidated statements of cash flows are presented on a consolidated basis with both continuing operations and discontinued operations. All amounts, percentages and disclosures for all periods presented reflect only the continuing operations of Edgewell unless otherwise noted.Please refer to the Form 10-Q filed with the SEC on May 6, 2026.EDGEWELL PERSONAL CARE COMPANYCONDENSED CONSOLIDATED STATEMENTS OF EARNINGS(unaudited, in millions, except per share data) 

Three Months EndedMarch 31,
Six Months EndedMarch 31,

2026
2025
2026
2025Net sales
$        519.5
$        516.6
$        942.3
$        931.7Cost of products sold
302.6
279.7
564.4
522.3Gross profit
216.9
236.9
377.9
409.4








Selling, general and administrative expense
111.0
102.8
213.4
202.4Advertising and sales promotion expense
58.6
59.9
104.2
106.0Research and development expense
14.9
13.4
28.7
26.8Restructuring charges
14.0
11.8
32.1
15.9Operating income (loss)
18.4
49.0
(0.5)
58.3Interest expense associated with debt
17.9
20.2
37.2
39.0Other (income) expense, net
(7.4)
(2.6)
(8.7)
0.6Income (loss) from continuing operations before income taxes
7.9
31.4
(29.0)
18.7Income tax provision (benefit) on continuing operations
3.9
10.6
(3.8)
8.0Net income (loss) from continuing operations
4.0
20.8
(25.2)
10.7(Loss) earnings from discontinued operations, net of tax
(14.6)
8.2
(51.1)
16.2Net (loss) income
$        (10.6)
$         29.0
$        (76.3)
$         26.9








Basic earnings (loss) per share:







Continuing operations
$         0.09
$         0.43
$        (0.54)
$         0.22Discontinued operations
(0.32)
0.17
(1.10)
0.34Basic (loss) earnings per share
$        (0.23)
$         0.60
$        (1.64)
$         0.56








Diluted earnings (loss) per share:







Continuing operations
$         0.09
$         0.43
$        (0.54)
$         0.22Discontinued operations
(0.31)
0.17
(1.10)
0.33Diluted (loss) earnings per share
$        (0.22)
$         0.60
$        (1.64)
$         0.55








Weighted-average shares outstanding:







Basic
46.5
48.0
46.5
48.3Diluted
46.8
48.2
46.5
48.4                                                                                                    See Accompanying Notes. EDGEWELL PERSONAL CARE COMPANYCONDENSED CONSOLIDATED BALANCE SHEETS(unaudited, in millions)   
March 31,
2026
September 30,
2025Assets


Current assets


Cash and cash equivalents$          299.7
$          225.7Trade receivables, less allowance for doubtful accounts of $4.0 and $4.8185.4
137.8Inventories450.1
433.8Other current assets174.3
138.6Current assets held for sale—
59.6Total current assets1,109.5
995.5Property, plant and equipment, net289.5
295.0Goodwill1,134.6
1,137.1Other intangible assets, net813.4
828.2Other assets186.2
178.7Non-current assets held for sale—
321.8Total assets$        3,533.2
$        3,756.3



Liabilities and Shareholders' Equity


Current liabilities


Notes payable$           35.1
$           29.5Accounts payable231.1
219.7Other current liabilities347.6
311.1Current liabilities held for sale—
5.2Total current liabilities613.8
565.5Long-term debt1,244.4
1,383.3Deferred income tax liabilities80.2
118.8Other liabilities146.7
135.6Total liabilities2,085.1
2,203.2Shareholders' equity


Common shares, $0.01 par value0.7
0.7Additional paid-in capital1,564.4
1,578.8Retained earnings995.8
1,086.7Common shares in treasury at cost(997.8)
(1,003.3)Accumulated other comprehensive loss(115.0)
(109.8)Total shareholders' equity1,448.1
1,553.1Total liabilities and shareholders' equity$        3,533.2
$        3,756.3                                                                                   See Accompanying Notes. EDGEWELL PERSONAL CARE COMPANYCONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS(unaudited, in millions)   
Six Months EndedMarch 31,
2026
2025Cash Flow from Operating Activities


Net (loss) income$        (76.3)
$         26.9Depreciation and amortization40.4
43.5Share-based compensation expense9.0
12.4Loss on sale of assets1.1
1.5Impairment charges37.4
—Loss on assets held for sale2.2
—Deferred compensation payments(2.0)
(1.9)Deferred income taxes(39.2)
(0.1)Other, net10.9
(8.0)Changes in operating assets and liabilities (55.1)
(144.8)Net cash used for operating activities(71.6)
(70.5)



Cash Flow from Investing Activities


Proceeds from sale of business338.9
—Capital expenditures(25.6)
(33.9)Collection of deferred purchase price on accounts receivable sold1.8
2.3Other, net—
(1.4)Net cash provided by (used for) investing activities315.1
(33.0)



Cash Flow from Financing Activities


Cash proceeds from debt with original maturities greater than 90 days398.0
605.0Cash payments on debt with original maturities greater than 90 days(538.0)
(448.0)Proceeds from debt with original maturities of 90 days or less4.6
3.5Repurchase of shares(15.8)
(65.7)Dividends to common shareholders(14.5)
(15.2)Net financing inflow from the Accounts Receivable Facility1.2
0.3Employee shares withheld for taxes(2.8)
(7.4)Other, net(0.1)
—Net cash (used for) provided by financing activities(167.4)
72.5



Effect of exchange rate changes on cash(2.1)
(8.0)



Net increase (decrease) in cash and cash equivalents74.0
(39.0)Cash and cash equivalents, beginning of period225.7
209.1Cash and cash equivalents, end of period$        299.7
$        170.1                                                                               See Accompanying Notes. EDGEWELL PERSONAL CARE COMPANY
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
(unaudited, in millions, except per share data)Note 1 —  SegmentsThe Company conducts its business in the following two segments: Wet Shave and Sun and Skin Care (collectively, the "Segments," and each individually, a "Segment"). Segment performance is evaluated based on segment profit, exclusive of general corporate expenses, share-based compensation costs, items which are considered by the Company to be unusual or non-recurring and which may have a disproportionate positive or negative impact on the Company's financial results in any particular period and the amortization of intangible assets. Financial items, such as interest income and expense, are managed on a global basis at the corporate level. The exclusion of such charges from segment results reflects management's view on how it evaluates segment performance.Segment net sales and profitability are presented below:
Three Months Ended
March 31,
Six Months Ended
March 31,
2026
2025
2026
2025Net Sales






Wet Shave$        294.1
$        285.5
$      585.4
$        580.0Sun and Skin Care225.4
231.1
356.9
351.7Total net sales$        519.5
$        516.6
$      942.3
$        931.7







Segment Profit






Wet Shave$         33.7
$         46.6
$        75.9
$         93.2Sun and Skin Care47.6
50.8
44.0
47.4Total segment profit81.3
97.4
119.9
140.6General corporate and other expenses(25.6)
(25.0)
(49.7)
(45.9)Amortization of intangibles(6.4)
(6.4)
(12.8)
(12.8)Interest and other expense, net(10.6)
(18.2)
(30.6)
(39.3)Restructuring and related charges(23.0)
(11.8)
(47.4)
(15.9)Acquisition and integration costs—
—
—
(0.5)Sun Care reformulation costs(1.7)
(0.7)
(2.7)
(1.7)Legal matters(4.7)
—
(5.7)
—Gain on investment—
—
1.5
0.9Commercial realignment—
(3.1)
—
(3.1)Other project and related costs(1.4)
(0.8)
(1.5)
(3.6)Total earnings (loss)  before income taxes$           7.9
$         31.4
$       (29.0)
$         18.7Refer to Note 2 - GAAP to Non-GAAP Reconciliations below for the income statement location of non-GAAP adjustments to earnings before income taxes.Note 2 — GAAP to Non-GAAP ReconciliationsThe following tables provide a GAAP to Non-GAAP reconciliation of certain line items from the Condensed Consolidated Statement of Earnings:Three Months Ended March 31, 2026
Gross Profit
SG&A
Operating
Income
EBIT from
Continuing
Operations (1)
Income Taxes
from
Continuing
Operations
Net Income
from
Continuing
Operations
Diluted EPS
from
Continuing
OperationsGAAP — Reported$    216.9
$    111.0
$     18.4
$        7.9
$        3.9
$        4.0
$     0.09Restructuring and related costs8.7
(0.3)
23.0
23.0
5.7
17.3
0.37Sun Care reformulation costs—
—
1.7
1.7
0.5
1.2
0.03Legal matter—
(4.7)
4.7
4.7
1.2
3.5
0.07Other project and related costs—
(1.6)
1.6
1.4
0.3
1.1
0.02Tax shortfall on equity compensation—
—
—
—
(0.7)
0.7
0.02Total Adjusted Non-GAAP$    225.6
$    104.4
$     49.4
$       38.7
$       10.9
$       27.8
$     0.60




















Adjusted Non-GAAP Constant Currency
0.64













GAAP as a percent of net sales41.8 %
21.4 %
3.5 %
GAAP effective tax rate
49.7 %Adjusted as a percent of net sales43.4 %
20.1 %
9.5 %
Adjusted  effective tax rate
27.9 %













Adjusted Constant Currency as a percent of net sales43.8 %


9.7 %—







Three Months Ended March 31, 2025
Gross Profit
SG&A
Operating
Income
EBIT from
Continuing
Operations (1)
Income Taxes
from
Continuing
Operations
Net Income
from
Continuing
Operations
Diluted EPS
from
Continuing
OperationsGAAP — Reported$     236.9
$     102.8
$      49.0
$        31.4
$        10.6
$        20.8
$      0.43Restructuring and related costs—
—
11.8
11.8
3.1
8.7
0.18Sun Care reformulation costs—
—
0.7
0.7
0.1
0.6
0.02Commercial realignment3.1
—
3.1
3.1
0.9
2.2
0.05Other project and related costs—
(1.4)
1.4
0.8
0.2
0.6
0.01Total Adjusted Non-GAAP$     240.0
$     101.4
$      66.0
$        47.8
$        14.9
$        32.9
$      0.69













GAAP as a percent of net sales45.9 %
19.9 %
9.5 %


GAAP effective tax rate
33.7 %Adjusted as a percent of net sales                               46.5 %
19.6 %
12.8 %


Adjusted effective tax rate
30.9 %
Six Months Ended March 31, 2026
Gross Profit
SG&A
Operating
(Loss)
Income
EBIT (Loss)
from
Continuing
Operations (1)
Income Tax
Provision
(Benefit)
from
Continuing
Operations
Net (Loss)
Income from
Continuing
Operations
Diluted EPS
from
Continuing
OperationsGAAP — Reported$    377.9
$    213.4
$     (0.5)
$      (29.0)
$       (3.8)
$      (25.2)
$    (0.54)Restructuring and related costs14.5
(0.8)
47.4
47.4
11.7
35.7
0.78Sun Care reformulation costs—
—
2.7
2.7
0.7
2.0
0.04Gain on investment—
—
—
(1.5)
(0.3)
(1.2)
(0.03)Legal matter—
(5.7)
5.7
5.7
1.4
4.3
0.09Other project and related costs—
(2.2)
2.2
1.5
0.3
1.2
0.03Tax shortfall on equity compensation—
—
—
—
(3.4)
3.4
0.07Total Adjusted Non-GAAP$    392.4
$    204.7
$     57.5
$       26.8
$        6.6
$       20.2
$     0.44




















Adjusted Non-GAAP Constant Currency
0.40













GAAP as a percent of net sales40.1 %
22.6 %
(0.1) %
GAAP effective tax rate
13.1 %Adjusted as a percent of net sales41.6 %
21.7 %
6.1 %
Adjusted  effective tax rate
24.9 %













Adjusted Constant Currency as a percent of net sales41.5 %


5.7 %—







Six Months Ended March 31, 2025
Gross Profit
SG&A
Operating
Income
EBIT (Loss)
from
Continuing
Operations (1)
Income Taxes
from
Continuing
Operations
Net Income
from
Continuing
Operations
Diluted EPS
from
Continuing
OperationsGAAP — Reported$    409.4
$    202.4
$     58.3
$       18.7
$        8.0
$       10.7
$     0.22Restructuring and related costs—
—
15.9
15.9
4.0
11.9
0.25Acquisition and integration costs—
(0.5)
0.5
0.5
0.1
0.4
0.01Sun Care reformulation costs—
—
1.7
1.7
0.4
1.3
0.03Gain on investment—
—
—
(0.9)
—
(0.9)
(0.02)Commercial realignment3.1
—
3.1
3.1
0.9
2.2
0.05Other project and related costs—
(2.4)
2.4
3.6
1.0
2.6
0.05Total Adjusted Non-GAAP$    412.5
$    199.5
$     81.9
$       42.6
$       14.4
$       28.2
$     0.59













GAAP as a percent of net sales43.9 %
21.7 %
6.3 %


GAAP effective tax rate
42.6 %Adjusted as a percent of net sales                               44.3 %
21.4 %
8.8 %


Adjusted effective tax rate
33.6 %(1) EBIT is defined as Loss from continuing operations before income taxes. Note 3 - Net Sales and Profit (Loss) by SegmentOperations for the Company are reported via two Segments. The following tables present changes in net sales and segment profit (loss) for the three and six months ended March 31, 2026, as compared to the corresponding period in the prior year quarter.Net SalesQuarter ended March 31, 2026     











Wet Shave
Sun and Skin Care
TotalNet Sales - Q2 2025$    285.5


$    231.1


$    516.6

Organic(2.1)
(0.7) %
(10.5)
(4.5) %
(12.6)
(2.4) %Impact of currency10.7
3.7 %
4.8
2.0 %
15.5
3.0 %Net Sales - Q2 2026$    294.1
3.0 %
$    225.4
(2.5) %
$    519.5
0.6 %
Segment ProfitQuarter Ended March 31, 2026     











Wet Shave
Sun and Skin Care
TotalSegment Profit  - Q2 2025$     46.6


$     50.8


$     97.4

Organic(12.2)
(26.2) %
(4.4)
(8.7) %
(16.6)
(16.9) %Impact of currency(0.7)
(1.5) %
1.2
2.4 %
0.5
0.4 %Segment Profit - Q2 2026$     33.7
(27.7) %
$     47.6
(6.3) %
$     81.3
(16.5) %
Net SalesSix Months ended March 31, 2026











Wet Shave
Sun and Skin Care
TotalNet Sales - Q2 2025$    580.0


$    351.7


$    931.7

Organic(13.7)
(2.4) %
(0.8)
(0.1) %
(14.5)
(1.6) %Impact of currency19.1
3.3 %
6.0
1.6 %
25.1
2.7 %Net Sales - Q2 2026$    585.4
0.9 %
$    356.9
1.5 %
$    942.3
1.1 %Segment ProfitSix Months Ended March 31, 2026
Wet Shave
Sun and Skin Care
TotalSegment Profit  - Q2 2025$     93.2


$     47.4


$    140.6

Organic(20.7)
(22.2) %
(4.9)
(10.3) %
(25.6)
(18.2) %Impact of currency3.4
3.6 %
1.5
3.1 %
4.9
3.5 %Segment Profit  - Q2 2026              $     75.9
(18.6) %
$     44.0
(7.2) %
$    119.9
(14.7) %For all tables, the impact of currency to segment profit includes both the translational and transactional currency changes during the quarter.Note 4 - Net Debt and EBITDAThe Company reports financial results on a GAAP and adjusted basis. The tables below are used to reconcile Net Debt and Net earnings (loss) to EBITDA and Adjusted EBITDA, which are non-GAAP measures, to improve comparability of results between periods.
March 31,
2026
September 30,
2025Notes payable$          35.1
$          29.5Long-term debt1,244.4
1,383.3Gross debt1,279.5
1,412.8Less: Cash and cash equivalents299.7
225.7Net debt979.8
1,187.1




Three Months EndedMarch 31,
Six Months EndedMarch 31,
2026
2025
2026
2025Net earnings (loss)$            4.0
$          20.8
$         (25.2)
$          10.7Income tax benefit3.9
10.6
(3.8)
8.0Interest expense, net 17.1
19.6
35.9
37.9Depreciation and amortization19.1
17.9
39.1
35.7EBITDA$          44.1
$          68.9
46.0
92.3







Restructuring and related charges  (1)21.9
11.2
44.4
15.2Acquisition & integration costs—
—
—
0.5Sun Care reformulation costs1.7
0.7
2.7
1.7Commercial realignment—
3.1
—
3.1Legal matter4.7
—
5.7
—Gain on investment—
—
(1.5)
(0.9)Other project and related costs1.4
0.8
1.5
3.6Adjusted EBITDA$          73.8
$          84.7
$          98.8
$         115.5(1) Excludes accelerated depreciation, which is included within Depreciation and amortization of $1.1 million and $0.6 million during the three months ended March 31, 2026 and 2025, respectively, and $3.0 million and $0.6 million during the six months ended March 31, 2026 and 2025, respectively.Note 5 - Outlook for Continuing OperationsThe following tables provide reconciliations of Adjusted EPS and Adjusted EBITDA, Non-GAAP measures, included within the Company's projected fiscal 2026 outlook for continuing operations. The below outlook reflects management's approximate expectations and are subject to rounding adjustments. As a result, the sum of individual amounts may not precisely equal the totals presented.Adjusted EPS Outlook

Fiscal 2026 GAAP EPSapprox.$0.00 - $0.40


Restructuring and related costsapprox.1.92Sun Care reformulation costsapprox.0.11Legal Matterapprox.0.12Gain on Investmentapprox.(0.03)Other costsapprox.0.05Income taxes(1)approx.(0.47)


Fiscal 2026 Adjusted EPS Outlook (Non-GAAP)approx.$1.70 - $2.10(1) Income tax effect of the adjustments to Fiscal 2026 GAAP EPS noted above. Adjusted EBITDA Outlook

Fiscal 2026 GAAP Net Incomeapprox.$0 - $20Income tax provisionapprox.4Interest expense, net of $5 interest incomeapprox.65Depreciation and amortizationapprox.77EBITDAapprox.$146 - $166


Restructuring and related costs (2)approx.87Sun Care reformulation costsapprox.5Legal Matterapprox.6Gain on Investmentapprox.(1)Other costsapprox.2Fiscal 2026 Adjusted EBITDAapprox.$245 - $265(2) Excludes accelerated depreciation, which is included within Depreciation and amortization. View original content to download multimedia:https://www.prnewswire.com/news-releases/edgewell-personal-care-announces-second-quarter-fiscal-2026-results-302763411.htmlSOURCE Edgewell Personal Care Company Original: Edgewell Personal Care Announces Second Quarter Fiscal 2026 Results

Edgewell Personal Care Company to Webcast a Discussion of Second Quarter Fiscal Year 2026 Results on May 6, 2026April 8, 2026 2:19 PM
PR Newswire (US)

SHELTON, Conn., April 8, 2026 /PRNewswire/ -- Edgewell Personal Care Company [NYSE: EPC] will report its financial results for the second quarter fiscal year 2026 before the market opens on May 6, 2026. Edgewell will discuss its results during an investor conference call that will be webcast on May 6, 2026, beginning at 8:00 a.m. Eastern Time. The call will be hosted by President and Chief Executive Officer Rod Little and Chief Financial Officer Francesca Weissman.







All interested parties may access a live webcast of this conference call at www.edgewell.com, under "Investors," and "News and Events" tabs or by using the following link:http://ir.edgewell.com/news-and-events/eventsFor those unable to participate during the live webcast, a replay will be available at www.edgewell.com, under "Investors," "Financial Reports," and "Quarterly Earnings" tabs.About Edgewell Personal Care:
Edgewell is a leading pure-play consumer products company with an attractive, diversified portfolio of established brand names such as Schick® and Wilkinson Sword® men's shaving products; Schick® and Billie® women's shaving products; Edge® and Skintimate® shave preparations; Banana Boat®, Hawaiian Tropic®, Bulldog®, Jack Black® and Cremo® sun and skin care products; and Wet Ones® moist wipes. The Company has a broad global footprint and operates in more than 50 markets, including the U.S., Canada, Mexico, Germany, Japan, the U.K. and Australia, with approximately 6,200 employees worldwide.



View original content to download multimedia:https://www.prnewswire.com/news-releases/edgewell-personal-care-company-to-webcast-a-discussion-of-second-quarter-fiscal-year-2026-results-on-may-6-2026-302737339.htmlSOURCE Edgewell Personal Care Company

Original: Edgewell Personal Care Company to Webcast a Discussion of Second Quarter Fiscal Year 2026 Results on May 6, 2026

Edgewell Personal Care to Webcast Fireside Chat at the 47th Annual Raymond James Institutional Investors ConferenceFebruary 27, 2026 12:32 PM
PR Newswire (US)

SHELTON, Conn., Feb. 27, 2026 /PRNewswire/ -- Edgewell Personal Care Company (NYSE: EPC) today announced that it will participate in a fireside chat at the 47th Annual Raymond James Institutional Investors Conference in Orlando, FL on Wednesday March 4, 2026, at 8:40 A.M. ET.  Rod Little, President and Chief Executive Officer and Francesca Weissman, Chief Financial Officer will be presenting for Edgewell.







All interested parties may access a live webcast of these events at www.edgewell.com, under "Investors," and "News and Events" tabs or by using the following link:  http://ir.edgewell.com/news-and-events/events.For those unable to participate during the live webcast, a replay will be available at www.edgewell.com.About Edgewell Personal Care:Edgewell is a leading pure-play consumer products company with an attractive, diversified portfolio of established brand names such as Schick®, Wilkinson Sword® and Billie® men's and women's shaving systems and disposable razors; Edge and Skintimate® shave preparations; Banana Boat®, Hawaiian Tropic®, Bulldog®, Jack Black®, and CREMO® sun and skin care products; and Wet Ones® products. The Company has a broad global footprint and operates in more than 50 markets, including the U.S., Canada, Mexico, Germany, Japan, the U.K. and Australia, with approximately 6,200 employees worldwide.



View original content to download multimedia:https://www.prnewswire.com/news-releases/edgewell-personal-care-to-webcast-fireside-chat-at-the-47th-annual-raymond-james-institutional-investors-conference-302699827.htmlSOURCE Edgewell Personal Care Company

Original: Edgewell Personal Care to Webcast Fireside Chat at the 47th Annual Raymond James Institutional Investors Conference

Edgewell Personal Care Tops Q1 Forecasts, Finalizes Exit From Feminine CareFebruary 9, 2026 9:53 AM
IH Market News
Edgewell Personal Care Company (NYSE:EPC) reported stronger-than-expected results for the first quarter of fiscal 2026 on Monday, with both adjusted earnings and revenue beating market forecasts as the company completed the sale of its Feminine Care unit.Shares were flat in after-hours trading following the announcement.For the quarter ended December 31, 2025, the personal care group posted adjusted earnings of $0.03 per share, well ahead of analysts’ expectations for a loss of $0.17 per share. Revenue totaled $486.8 million, topping the $476.49 million consensus estimate and rising 1.8% from the same period a year earlier.“We delivered a solid start to fiscal 2026. Our first quarter performance modestly exceeded our expectations for organic net sales, adjusted EPS and adjusted EBITDA,” said Rod Little, President and Chief Executive Officer of Edgewell.During the quarter, the company completed the divestiture of its Feminine Care business for $340 million, a transaction management described as “a pivotal milestone in our transformation journey” that improves focus and bolsters the balance sheet.On a continuing-operations basis, excluding the divested business, net sales increased 1.9% to $422.8 million.In North America, organic sales rose 0.7%, supported by volume growth in Sun Care and Grooming. This was partly offset by lower volumes and less favorable pricing in the Wet Shave and Skin Care categories.Looking ahead, Edgewell guided for adjusted earnings per share of $1.70 to $2.10 in fiscal 2026, below the analyst consensus estimate of $2.34. The company reaffirmed its prior outlook for sales, adjusted EBITDA and free cash flow from continuing operations, adjusted to reflect the impact of the divestiture.“Moving forward, as a more focused and agile company with a streamlined portfolio, we believe we are well-positioned to drive sustainable growth and create long-term shareholder value,” Little added.The board also declared a quarterly cash dividend of $0.15 per share, payable on April 8, 2026, to shareholders on record as of March 6, 2026.Edgewell Personal Care Company stock price

Original: Edgewell Personal Care Tops Q1 Forecasts, Finalizes Exit From Feminine Care

Edgewell Personal Care Announces First Quarter Fiscal 2026 ResultsFebruary 9, 2026 6:00 AM
PR Newswire (US)

Q1 performance ahead of expectations for Sales, Adjusted EPS and EBITDASuccessfully Completed Feminine Care Business Divestiture for $340 Million, Sharpening Portfolio FocusFull Year Outlook for Continuing Operations Remains Consistent with Prior OutlookSHELTON, Conn., Feb. 9, 2026 /PRNewswire/ -- Edgewell Personal Care Company (NYSE: EPC) today announced results for its first fiscal quarter 2026 ended December 31, 2025. 







"We delivered a solid start to fiscal 2026. Our first quarter performance modestly exceeded our expectations for organic net sales, adjusted EPS and adjusted EBITDA(1). Alongside strong execution in our core businesses, we successfully completed the divestiture of Feminine Care, a pivotal milestone in our transformation journey that further sharpens our portfolio focus and strengthens our balance sheet. Importantly, the estimated annualized impact of the divestiture is expected to be favorable to our previous outlook," said Rod Little, Edgewell's President and Chief Executive Officer."After adjusting for the impact of the divestiture, our full year outlook for continuing operations is unchanged to our prior outlook for sales, adjusted EPS, adjusted EBITDA and free cash flow. Moving forward, as a more focused and agile company with a streamlined portfolio, we believe we are well-positioned to drive sustainable growth and create long-term shareholder value as we execute against our plan for fiscal 2026 and beyond."Unless otherwise noted, reported results in this release are based on continuing operations and exclude the Feminine Care business which is treated as discontinued operations. This presentation also includes discussions of certain metrics on a consolidated basis, which is inclusive of the Feminine Care business, to help investors assess performance compared to the Company's prior financial outlook, which was done on a consolidated basis. The Company reports and forecasts results on a GAAP and non-GAAP basis and has reconciled non-GAAP results and outlook to the most directly comparable GAAP measures later in this release. See non-GAAP Financial Measures for a more detailed explanation, including definitions of various non-GAAP terms used in this release. All comparisons used in this release are for the same period in the prior fiscal year unless otherwise stated. Fiscal 1Q 2026 Executive SummaryConsolidated Basis (Inclusive of the Feminine Care Business) Net Sales were $486.8 million, an increase of 1.8% compared to the prior year.Organic net sales decreased (0.3)% (Organic basis excludes the impact from currency movements).GAAP Diluted Net Earnings (Loss) Per Share ("EPS") were $(1.41), compared to $(0.04) in the prior year quarter.Adjusted EPS were $0.03, compared to $0.07 in the prior year quarter.(1)  First quarter guidance was provided on a consolidated basis, inclusive of Feminine Care.Continuing Operations Basis (Excluding the Feminine Care Business)Net sales were $422.8 million, an increase of 1.9% compared to the prior year quarter.Organic net sales decreased 0.5% (Organic basis excludes the impact from currency movements).GAAP Diluted Net Earnings (Loss) Per Share ("EPS") were $(0.63), compared to $(0.21) in the prior year quarter.Adjusted EPS were $(0.16), compared to $(0.10) in the prior year quarter.Fiscal 1Q 2026 Operating Results From Continuing Operations (Unaudited)
Net sales were $422.8 million in the quarter, an increase of 1.9%, including a $9.6 million favorable impact from currency movements. Organic net sales decreased $1.9 million, or 0.5%. Organic sales growth in North America was 0.7%, driven by  volume growth in Sun Care and Grooming, partially offset by lower volumes and unfavorable pricing in Wet Shave and Skin Care.  Organic sales in international markets declined 1.6%, largely driven by volume declines in Sun Care and Wet Shave, primarily reflecting an anticipated change in the quarterly phasing of Wet Shave sales in Japan, and Sun Care sales in distributor markets.  Gross profit was $161.0 million, as compared to $172.5 million in the prior year quarter. Gross margin as a percent of net sales was 38.1%, a decrease of 350-basis points. Adjusted gross margin as a percent of net sales decreased 210-basis points, to 39.5% in the quarter. Productivity savings of approximately 240-basis points and favorable currency movements were more than offset by 450-basis points of core inflation, tariffs, volume absorption and 75-basis points of unfavorable mix and other. Advertising and sales promotion expense ("A&P") was $45.6 million, or 10.8% of net sales, a decrease of $0.5 million, compared to $46.1 million, or 11.1% of net sales in the prior year quarter.     Selling, general and administrative expense ("SG&A") was $102.4 million, or 24.2% of net sales, as compared to $99.6 million, or 24.0% of net sales in the prior year quarter. Adjusted SG&A was 23.7% of net sales, compared to 23.6% in the prior year quarter, which was primarily driven by higher people costs and unfavorable currency impacts, partly offset by lower consulting and corporate expenses.  The Company recorded pre-tax restructuring and related charges in support of cost efficiency and effectiveness programs of $24.4 million in the quarter.Operating (loss) income, was $(18.9) million, or (4.5)% of net sales, inclusive of a $4.4 million, or 110-basis points positive impact from favorable currency movements, compared to $9.3 million, or 2.2% of net sales in the prior year quarter. Adjusted operating income was $8.1 million, or 1.9% of net sales, compared to $15.9 million, or 3.8% of net sales in the prior year quarter.     Interest expense associated with debt was $19.3 million, compared to $18.8 million in the prior year quarter. The increase in interest expense was the result of higher borrowing levels on the Company's U.S. revolving credit facility.Other (income) expense, net was $(1.3) million compared to $3.2 million in the prior year quarter. Currency hedge and remeasurement losses were $0.9 million in the current quarter, compared to losses of $2.0 million in the prior year quarter. The current year quarter included $0.5 million of other project gains, compared to $1.8 million of expense in the prior year quarter. Adjusted other (income) expense, net was $0.7 million compared to $2.3 million in the prior year quarter.The effective tax rate for the first three months of fiscal 2026 was 20.9% compared to 20.6% in the prior year period. Both periods reflect a tax benefit on a loss. The fiscal 2026 effective tax rate reflects more favorable discrete and unusual items resulting in a larger tax benefit compared to FY25. The adjusted effective tax rate for the three months of fiscal 2026 was 34.7% (tax benefit on a loss), down from the prior year period adjusted effective tax rate of 7.8% (tax benefit on a loss).GAAP net (loss) earnings from continuing operations were $(29.2) million or $(0.63) per diluted share compared to $(10.1) million or $(0.21) per diluted share in the prior year quarter. Adjusted net earnings from continuing operations were $(7.6) million  or $(0.16) per share, inclusive of a $0.07 per share of favorable currency impact, compared to $(4.8) million or $(0.10) per share in the prior year quarter. Adjusted EBITDA from continuing operations was $25.0 million, inclusive of a $5.8 million favorable currency impact, compared to $30.9 million in the prior year quarter. Adjusted EBITDA on a consolidated basis was $38.1 million.Net cash used for operating activities on a consolidated basis, inclusive of continuing and discontinued operations was $125.9 million for the three months ending December 31, 2025, compared to $115.6 million in the prior year period. The increase in cash used for operating activities was largely driven by lower earnings. The first quarter ended with $223.3 million in cash on hand, access to an additional $142.5 million under the Company's U.S. revolving credit facility available and an adjusted net debt leverage ratio of 3.8x.Capital AllocationOn February 5, 2026, the Board of Directors declared a quarterly cash dividend of $0.15 per common share for the first fiscal quarter of fiscal 2026. The dividend will be payable on April 8, 2026 to shareholders of record as the close of business on March 6, 2026. During the first quarter of fiscal 2026, the Company paid dividends totaling $7.4 million to stockholders. As of December 31, 2025, the Company had $100.0 million available for share repurchase in the future under the Board's 2025 authorization.Fiscal 1Q 2026 Operating Segment Results (Unaudited)Wet Shave (Men's Systems, Women's Systems, Disposables, and Shave Preps)Net sales decreased $3.2 million, or 1.1%. Organic net sales decreased $11.6 million or 3.9%. International markets declined as a result of  unfavorable phasing of Wet Shave sales in Japan, as anticipated, partly offset by higher pricing while North America declined as a result of decreased volumes and increased promotional levels. Segment profit decreased $4.4 million, or 9.4%. Organic segment profit, excluding the favorable impact from currency, decreased $8.5 million, or 18.2%, as lower gross margins were partly offset by lower marketing and SG&A expenses. Sun and Skin Care (Sun Care, Men's and Women's Grooming Products, and Wet Ones)Net sales increased $10.9 million, or 9.0%. Organic net sales increased $9.7 million, or 8.0%, driven by 19.5% growth in Sun Care, primarily driven by higher volumes in North America. Grooming increased 6.8% driven by increased volumes, led by nearly 27% growth in Cremo. Segment loss increased $0.2 million, or 5.9%, including a favorable impact from foreign currency of $0.3 million, or 8.8%. Organic segment loss increased $0.5 million, or 14.7%, driven by higher marketing expenses, partly offset by higher gross profit.Full Fiscal Year 2026 Financial Outlook The Company is providing the following outlook assumptions for fiscal 2026. The previous outlook provided on November 13, 2025 was on a consolidated basis, including the Feminine Care business. The change from the prior outlook reflects the removal of the Feminine Care business. The revised full year outlook for continuing operations remains consistent with the prior outlook.  Unless otherwise stated, this outlook is presented on a continuing-operations basis and excludes the results of the Feminine Care business, which is reported as discontinued operations. Prior periods have been recast for comparability. Timing effects are as follows: Continuing operations reflect twelve months of stranded costs, while transition support services income which commenced upon closing is expected to be recognized for approximately eight months of the fiscal year. Refer to Note 8 for a reconciliation of previous consolidated outlook to continuing operations outlook.Reported net sales are now expected to increase in the range of approximately 0.5% to 3.5% (no change to previous outlook)Includes an estimated 150-basis point positive impact from foreign currency changesOrganic net sales are expected to be in the range of a 1.0% decrease to a 2% increase (no change to previous outlook)GAAP EPS is expected to be in the range of $0.55 to $0.95 (previously $1.10 to $1.50 on a consolidated basis)Includes: Restructuring and related costs*, Sun Care reformulation, Other costsAdjusted EPS is expected to be in the range of $1.70 to $2.10 (previously $2.15 to $2.55 on a consolidated basis)Reflects a $0.44 per share reduction from classifying the Feminine Care business as discontinued operations. On an annualized basis, this impact would be approximately $0.20 per share, compared to the Company's prior annualized outlook in the range of a $0.40 to $0.50 per share impactAdjusted gross margin is expected to increase approximately 60-basis points (no change to previous outlook). Adjusted operating margin is expected to decrease approximately 50-basis points (no change to previous outlook), reflecting 70-basis points from higher A&P investment in the current year and 30-basis points from increased SG&A expense reflecting lower incentive compensation in the prior yearAdjusted EBITDA is expected to be in the range of $245 to $265 million (previously $290 to $310 million on a consolidated basis)Reflects a $44 million reduction from classifying the Feminine Care business as discontinued operations. On an annualized basis, this impact would be approximately $36 million, compared to the Company's prior annualized outlook in the range of a $35 million to $45 million impactOther Income/Expense, net is expected to be approximately $20 million, (previously flat on a consolidated basis) inclusive of interest income of $5 million (previously $2 million on a consolidated basis), and Transition Services Income in the range of $15 to $19 millionInterest expense associated with debt is now expected to be approximately $70 million (previously $73 million on a consolidated basis), as the proceeds from the Feminine Care transaction are expected to be used to pay down the balance of the Company's U.S. revolving credit facilityAdjusted effective tax rate is expected to be approximately 22% to 23% (previously 21% to 22% on a consolidated basis)Capital expenditures expected to be in the range of approximately 3.0% to 3.5% of net salesAdjusted free cash flow is expected to be approximately $80 to $110 million (previously $115 to $145 million on a consolidated basis)As previously discussed, in fiscal 2026, the Company is taking specific actions to strengthen its operating model, simplify the organization and improve manufacturing and supply chain efficiency through restructuring and repositioning actions, including the further consolidation of Wet Shave operations. As a result of these actions, the Company expects to incur pre-tax charges of approximately $65 million (previously $49 million) for the full fiscal year.Webcast InformationIn conjunction with this announcement, the Company will hold an investor conference call beginning at 8:00 a.m. Eastern Time today. All interested parties may access a live webcast of this conference call at www.edgewell.com, under the "Investors," and "News and Events" tabs or by using the following link:  http://ir.edgewell.com/news-and-events/eventsRefer to Supplemental Slides at www.edgewell.com, under the "Investors," and "News and Events" tabs or by using the following link by using the following link http://ir.edgewell.com/news-and-events/events for historical financial information related to Company's divestiture of its Feminine Care business consistent with the continuing operations structure.For those unable to participate during the live webcast, a re-play will be available on www.edgewell.com, under the "Investors," "Financial Reports," and "Quarterly Earnings" tabs. This release includes references to the Company's website and references to additional information and materials found on its website. The Company's website and such information and materials are not incorporated by reference in, and are not part of, this release.About EdgewellEdgewell is a leading pure-play consumer products company with an attractive, diversified portfolio of established brand names such as Schick®, Wilkinson Sword® and Billie® men's and women's shaving systems and disposable razors; Edge and Skintimate® shave preparations; Banana Boat®, Hawaiian Tropic®, Bulldog®,  Jack Black®, and CREMO® sun and skin care products; and Wet Ones® products. The Company has a broad global footprint and operates in more than 50 markets, including the U.S., Canada, Mexico, Germany, Japan, the U.K. and Australia, with approximately 6,200 employees worldwide.# # #Forward-Looking Statements. This document contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. You should not place undue reliance on these statements. These forward-looking statements include, but are not limited to, statements concerning our expectations regarding our future results of operations and financial condition; our capital allocation plans; our strategy, including sharpening our portfolio focus; impacts from the divestiture of our Feminine Care segment; our ability to drive sustainable growth and long-term shareholder value; and the effects of macroeconomic factors such as changes in tariffs and currency movements. Additional forward-looking statements can generally be identified by the use of words or phrases such as "believe," "expect," "expectation," "anticipate," "may," "could," "intend," "belief," "estimate," "plan," "target," "predict," "likely," "will," "should," "forecast," "outlook," or other similar words or phrases. These statements are not based on historical facts, but instead reflect the Company's expectations, estimates or projections concerning future results or events, including, without limitation, the future earnings and performance of Edgewell or any of its businesses. Many factors outside our control could affect the realization of these estimates. These statements are not guarantees of performance and are inherently subject to known and unknown risks, uncertainties and assumptions that are difficult to predict and could cause the Company's actual results to differ materially from those indicated by those statements. The Company cannot assure you that any of its expectations, estimates or projections will be achieved. The forward-looking statements included in this document are only made as of the date of this document and the Company disclaims any obligation to publicly update any forward-looking statement to reflect subsequent events or circumstances, except as required by law. You should not place undue reliance on these statements.Factors that could cause fluctuations in our actual results include, but are not limited to, the following: our ability to compete in products and prices, as well as costs, in an intensely competitive industry; the loss of any of our principal customers or changes in the policies of our principal customers; our inability to design and execute a successful omnichannel strategy; our ability to attract, retain and develop key personnel; fluctuations in the price and supply of raw materials and costs of labor, warehousing and transportation; the impact of seasonal volatility on our sales, financial performance, working capital requirements and cash flow; the ability to successfully manage evolving global financial risks, including tariffs, foreign currency fluctuations, currency exchange or pricing controls and localized volatility; impacts from any loss of our principal customers or changes in the policies or strategies of our customers; our level of indebtedness and the various covenants related thereto, and to generate sufficient income and cash flow to allow the Company to effect the expected share repurchases and dividend payment; our failure to maintain our brands' reputation and successfully respond to changing consumer habits; and perceptions of certain ingredients, negative perceptions of packaging, lack of recyclability or other environmental attributes; our access to capital markets and borrowing capacity; impairment of our goodwill and other intangible assets; the ability to successfully manage the financial, legal, reputational and operational risks associated with third-party relationships, such as our suppliers, contract manufacturers, distributors, contractors and external business partners; risks associated with our international operations; our ability to effectively integrate acquired companies and successfully manage divestiture activities; our ability to successfully implement our cost savings initiatives, including rationalization or restructuring efforts; the ability to rely on and maintain key Company and third-party information and operational technology systems, networks and services and maintain the security and functionality of such systems, networks and services and the data contained therein; the ability to successfully achieve, maintain or adjust our environmental or sustainability goals and priorities; the ability to successfully manage current and expanding regulatory and legal requirements and matters (including, without limitation, those laws and regulations involving product liability, product and packaging composition, manufacturing processes, intellectual property, labor and employment, antitrust, privacy, cybersecurity and data protection, artificial intelligence, tax, the environment, due diligence, risk oversight, accounting and financial reporting) and to resolve new and pending matters within current estimates; the ability to adequately protect our intellectual property rights; product quality and safety issues, including recalls and product liability;  losses or increased funding and expenses related to our pension plans; and the other important factors described in our Annual Report on Form 10-K for the fiscal year ended September 30, 2025 ("2025 Annual Report") under Part I. Item 1A. "Risk Factors," and in our other filings with the Securities and Exchange Commission ("SEC"). In addition, other risks and uncertainties not presently known to the Company or that it presently considers immaterial could significantly affect the accuracy of any such forward-looking statements. Risks and uncertainties include those detailed from time to time in the Company's publicly filed documents, including in Item 1A. Risk Factors of Part I of the Company's Annual Report on Form 10-K filed with the Securities and Exchange Commission (the "SEC") on November 18, 2025.Non-GAAP Financial Measures. While the Company reports financial results in accordance with generally accepted accounting principles ("GAAP") in the U.S., this discussion also includes non-GAAP measures. These non-GAAP measures are referred to as "adjusted" or "organic" and exclude items which are considered by the Company as unusual or non-recurring and which may have a disproportionate positive or negative impact on the Company's financial results in any particular period. Reconciliations of non-GAAP measures, including reconciliations of measures related to the Company's fiscal 2026 financial outlook, are included within the Notes to Condensed Consolidated Financial Statements included with this release.This non-GAAP information is provided as a supplement to, not as a substitute for, or as superior to, measures of financial performance prepared in accordance with GAAP. The Company uses this non-GAAP information internally to make operating decisions and believes it is helpful to investors because it allows more meaningful period-to-period comparisons of ongoing operating results. The information can also be used to perform analysis and to better identify operating trends that may otherwise be masked or distorted by the types of items that are excluded. This non-GAAP information is a component in determining management's incentive compensation. Finally, the Company believes this information provides a higher degree of transparency. The following provides additional detail on the Company's non-GAAP measures:The Company utilizes "adjusted" non-GAAP measures including gross margin, SG&A, operating income, operating margin, effective tax rate, net earnings, earnings per share, EBITDA, and other (income) expense to internally make operating decisions.Constant currency measures are calculated by removing the impact of translational and transactional foreign currencies changes, net of foreign currency hedges compared to the prior year. Transactional foreign currency changes are driven by foreign legal entities' transactions not denominated in local currency.The Company analyzes its net sales and segment profit on an organic basis to better measure the comparability of results between periods. Organic net sales and organic segment profit exclude the impact of changes in foreign currency.Segment profit is impacted by fluctuations in translation and transactional foreign currency. The impact of currency was applied to segments using management's best estimate.The Company presents certain metrics on a consolidated and continuing operations basis to help with comparability.Free cash flow is defined as net cash from operating activities, less capital expenditures plus collections of deferred purchase price of accounts receivable sold and proceeds from sales of fixed assets. Adjusted free cash flow is defined as free cash flow, adjusted for the following the one-time operating cash flow impacts associated directly with Feminine Care divestiture including tax, working capital, and deal related fees and expenses. Free cash flow conversion is defined as free cash flow as a percentage of net earnings adjusted for the net impact of non-cash impairments.Net debt is defined as Gross debt less cash. Adjusted net debt is adjusted for anticipated net proceeds from sale of Feminine Care business to provide a normal comparison to continuing operations adjusted EBITDA. Net debt leverage ratio is defined as net debt divided by trailing twelve month adjusted EBITDA. Adjusted net debt leverage ratio is defined as adjusted net debt divided by continuing operations trailing twelve month adjusted EBITDA and $26 million income from pro forma twelve month Transition Services. Refer to Supplemental Slides for fiscal year 2025 quarterly recast adjusted EBITDA reconciliation for continuing operations.Basis of Presentation. In accordance with applicable accounting guidance, the results of the Feminine Care segment are presented as discontinued operations in the condensed consolidated statements of earnings and comprehensive income and, as such, have been excluded from both continuing operations and segment results for all periods presented. Further, the Company reclassified the assets and liabilities of the Feminine Care disposal group as assets and liabilities held for sale in the condensed consolidated balance sheet as of December 31, 2025 and September 30, 2025. The condensed consolidated statements of cash flows are presented on a consolidated basis with both continuing operations and discontinued operations. All amounts, percentages and disclosures for all periods presented reflect only the continuing operations of Edgewell unless otherwise noted.Please refer to the Form 10-Q filed with the SEC on February 9, 2026.EDGEWELL PERSONAL CARE COMPANYCONDENSED CONSOLIDATED STATEMENTS OF EARNINGS(unaudited, in millions, except per share data)


Three Months EndedDecember 31,

2025
2024Net sales
$             422.8
$             415.1Cost of products sold
261.8
242.6Gross profit
161.0
172.5




Selling, general and administrative expense
102.4
99.6Advertising and sales promotion expense
45.6
46.1Research and development expense
13.8
13.4Restructuring charges
18.1
4.1Operating (loss) income
(18.9)
9.3Interest expense associated with debt
19.3
18.8Other (income) expense, net
(1.3)
3.2Loss from continuing operations before income taxes
(36.9)
(12.7)Income tax benefit on continuing operations
(7.7)
(2.6)Net loss from continuing operations
(29.2)
(10.1)(Loss) earnings from discontinued operations, net of tax
(36.5)
8.0Net loss
$             (65.7)
$               (2.1)




Basic earnings (loss) per share:



Continuing operations
$             (0.63)
$             (0.21)Discontinued operations
(0.78)
0.17Basic loss per share
$             (1.41)
$             (0.04)




Diluted earnings (loss) per share:



Continuing operations
$             (0.63)
$             (0.21)Discontinued operations
(0.78)
0.17Diluted loss per share
$             (1.41)
$             (0.04)




Weighted-average shares outstanding:



Basic
46.6
48.7Diluted
46.6
48.7
See Accompanying Notes. EDGEWELL PERSONAL CARE COMPANYCONDENSED CONSOLIDATED BALANCE SHEETS(unaudited, in millions)  

December 31,
2025
September 30,
2025Assets


Current assets


Cash and cash equivalents$               223.3
$               225.7Trade receivables, less allowance for doubtful accounts of $4.5 and $4.8154.0
137.8Inventories461.2
433.8Other current assets161.6
138.6Current assets held for sale57.0
59.6Total current assets1,057.1
995.5Property, plant and equipment, net292.5
295.0Goodwill1,137.4
1,137.1Other intangible assets, net821.8
828.2Other assets179.1
178.7Non-current assets held for sale280.0
321.8Total assets$            3,767.9
$            3,756.3



Liabilities and Shareholders' Equity


Current liabilities


Notes payable$                 32.5
$                 29.5Accounts payable213.1
219.7Other current liabilities247.9
311.1Current liabilities held for sale4.0
5.2Total current liabilities497.5
565.5Long-term debt1,520.8
1,383.3Deferred income tax liabilities118.3
118.8Other liabilities145.1
135.6Non-current liabilities held for sale—
—Total liabilities2,281.7
2,203.2Shareholders' equity


Common shares, $0.01 par value0.7
0.7Additional paid-in capital1,560.6
1,578.8Retained earnings1,014.0
1,086.7Common shares in treasury at cost(984.6)
(1,003.3)Accumulated other comprehensive loss(104.5)
(109.8)Total shareholders' equity1,486.2
1,553.1Total liabilities and shareholders' equity$            3,767.9
$            3,756.3
See Accompanying Notes. EDGEWELL PERSONAL CARE COMPANYCONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS(unaudited, in millions)  

Three Months EndedDecember 31,
2025
2024Cash Flow from Operating Activities


Net loss$             (65.7)
$               (2.1)Depreciation and amortization21.3
21.7Share-based compensation expense3.4
6.1Loss on sale of assets—
1.4Impairment charges37.4
—Loss on assets held for sale3.8
—Deferred compensation payments(0.2)
(0.2)Deferred income taxes(0.9)
0.2Other, net12.5
2.3Changes in operating assets and liabilities (137.5)
(145.0)Net cash used for operating activities(125.9)
(115.6)



Cash Flow from Investing Activities


Capital expenditures(11.6)
(16.8)Collection of deferred purchase price on accounts receivable sold1.7
1.1Net cash used for investing activities(9.9)
(15.7)



Cash Flow from Financing Activities


Cash proceeds from debt with original maturities greater than 90 days292.0
369.0Cash payments on debt with original maturities greater than 90 days(155.0)
(204.0)Proceeds from debt with original maturities of 90 days or less2.4
3.7Repurchase of shares—
(30.3)Dividends to common shareholders(7.4)
(7.9)Net financing inflow (outflow) from the Accounts Receivable Facility4.3
(13.3)Employee shares withheld for taxes(2.8)
(7.3)Other, net(0.1)
—Net cash provided by financing activities133.4
109.9



Effect of exchange rate changes on cash0.0
(12.2)



Net decrease in cash and cash equivalents(2.4)
(33.6)Cash and cash equivalents, beginning of period225.7
209.1Cash and cash equivalents, end of period$             223.3
$             175.5
See Accompanying Notes.EDGEWELL PERSONAL CARE COMPANY
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
(unaudited, in millions, except per share data)Note 1 —  SegmentsThe Company conducts its business in the following two segments: Wet Shave and Sun and Skin Care (collectively, the "Segments," and each individually, a "Segment"). Segment performance is evaluated based on segment profit, exclusive of general corporate expenses, share-based compensation costs, items which are considered by the Company to be unusual or non-recurring and which may have a disproportionate positive or negative impact on the Company's financial results in any particular period and the amortization of intangible assets. Financial items, such as interest income and expense, are managed on a global basis at the corporate level. The exclusion of such charges from segment results reflects management's view on how it evaluates segment performance.Segment net sales and profitability are presented below:
Three Months Ended
December 31,
2025
2024Net Sales


Wet Shave$          291.3
$             294.5Sun and Skin Care131.5
120.6Total net sales$          422.8
$             415.1



Segment Profit


Wet Shave$            42.2
$               46.6Sun and Skin Care(3.6)
(3.4)Total segment profit38.6
43.2General corporate and other expenses(24.1)
(20.9)Amortization of intangibles(6.4)
(6.4)Interest and other expense, net(20.0)
(21.1)Restructuring and related charges(24.4)
(4.1)Acquisition and integration costs—
(0.5)Sun Care reformulation costs(1.0)
(1.0)Legal matters(1.0)
—Gain on investment1.5
0.9Other project and related costs(0.1)
(2.8)Total earnings before income taxes$           (36.9)
$             (12.7)
Refer to Note 2 - GAAP to Non-GAAP Reconciliations below for the income statement location of non-GAAP adjustments to earnings before income taxes.Note 2 — GAAP to Non-GAAP ReconciliationsThe following tables provide a GAAP to Non-GAAP reconciliation of certain line items from the Condensed Consolidated Statement of Earnings:Three Months Ended December 31, 2025
Gross Profit
SG&A
Operating
(Loss)
Income
EBIT (Loss)
from
Continuing
Operations
(1)
Income Tax
Provision
(Benefit)
from
Continuing
Operations
Net Loss
from
Continuing
Operations
Diluted EPS
from
Continuing
OperationsGAAP — Reported$      161.0
$      102.4
$      (18.9)
$         (36.9)
$           (7.7)
$         (29.2)
$      (0.63)Restructuring and related costs5.8
(0.5)
24.4
24.4
6.0
18.4
0.40Sun Care reformulation costs—
—
1.0
1.0
0.2
0.8
0.02Gain on investment—
—
—
(1.5)
(0.3)
(1.2)
(0.03)Legal matter—
(1.0)
1.0
1.0
0.2
0.8
0.02Other project and related costs—
(0.6)
0.6
0.1
—
0.1
—Tax shortfall on equity compensation—
—
—
—
(2.7)
2.7
0.06Total Adjusted Non-GAAP$      166.8
$      100.3
$          8.1
$         (11.9)
$           (4.3)
$           (7.6)
$      (0.16)






















Adjusted Non-GAAP
Constant Currency
(0.23)













GAAP as a percent of net sales38.1 %
24.2 %
(4.5) %


GAAP effective tax rate
20.9 %Adjusted as a percent of net sales39.5 %
23.7 %
1.9 %


Adjusted  effective tax rate
34.7 %













Adjusted Constant Currency as a percent of net sales38.7 %


0.8 %—







Three Months Ended December 31, 2024
Gross Profit
SG&A
Operating
Income
EBIT (Loss)
from
Continuing
Operations
(1)
Income
Taxes from
Continuing
Operations
Net Loss
from
Continuing
Operations
Diluted EPS
from
Continuing
OperationsGAAP — Reported$     172.5
$       99.6
$         9.3
$        (12.7)
$          (2.6)
$        (10.1)
$     (0.21)Restructuring and related costs—
—
4.1
4.1
1.0
3.1
0.07Acquisition and integration costs—
(0.5)
0.5
0.5
0.1
0.4
0.01Sun Care reformulation costs—
—
1.0
1.0
0.3
0.7
0.01Gain on investment—
—
—
(0.9)
—
(0.9)
(0.02)Other project and related costs—
(1.0)
1.0
2.8
0.8
2.0
0.04Total Adjusted Non-GAAP$     172.5
$       98.1
$       15.9
$          (5.2)
$          (0.4)
$          (4.8)
$     (0.10)













GAAP as a percent of net sales41.6 %
24.0 %
2.2 %


GAAP effective tax rate
20.6 %Adjusted as a percent of net sales41.6 %
23.6 %
3.8 %


Adjusted effective tax rate
7.8 %
(1) EBIT is defined as Loss from continuing operations before income taxes. Note 3 - Net Sales and Profit (Loss) by SegmentOperations for the Company are reported via two Segments. The following tables present changes in net sales and segment profit (loss) for the three months ended December 31, 2025, as compared to the corresponding period in the prior year quarter.Net SalesQuarter ended December 31, 2025











Wet Shave
Sun and Skin Care
TotalNet Sales - Q1 2025$      294.5


$      120.6


$      415.1

Organic(11.6)
(3.9) %
9.7
8.0 %
(1.9)
(0.5) %Impact of currency8.4
2.8 %
1.2
1.0 %
9.6
2.4 %Net Sales - Q1 2026$      291.3
(1.1) %
$      131.5
9.0 %
$      422.8
1.9 %
Segment ProfitQuarter Ended December 31, 2025
Wet Shave
Sun and Skin Care
TotalSegment Profit  (Loss) - Q1 2025$        46.6


$         (3.4)


$        43.2

Organic(8.5)
(18.2) %
(0.5)
14.7 %
(9.0)
(20.7) %Impact of currency4.1
8.8 %
0.3
(8.8) %
4.4
10.1 %Segment Profit (Loss) - Q1 2026$        42.2
(9.4) %
$         (3.6)
5.9 %
$        38.6
(10.6) %For all tables, the impact of currency to segment profit includes both the translational and transactional currency changes during the quarter. Note 4 - Net Debt and EBITDAThe Company reports financial results on a GAAP and adjusted basis. The tables below are used to reconcile Net Debt and Net earnings to EBITDA and Adjusted EBITDA, which are non-GAAP measures, to improve comparability of results between periods.
December 31,
2025
September 30,
2025Notes payable$                 32.5
$                 29.5Long-term debt1,520.8
1,383.3Gross debt1,553.3
1,412.8Less: Cash and cash equivalents223.3
225.7Net debt1,330.0
1,187.1Less: Expected proceeds from sale of Feminine Care business340.0
—Adjusted net debt$               990.0
$            1,187.1

Three Months EndedDecember 31,
2025
2024Net earnings$               (29.2)
$               (10.1)Income tax benefit(7.7)
(2.6)Interest expense, net 18.8
18.3Depreciation and amortization20.0
17.8EBITDA1.9
23.4



Restructuring and related charges  (1)22.5
4.1Acquisition & integration costs—
0.5Sun Care reformulation costs1.0
1.0Legal matter1.0
—Gain on investment(1.5)
(0.9)Other project and related costs0.1
2.8Adjusted EBITDA$                25.0
$                30.9
(1) Excludes $1.9 million of accelerated depreciation, which is included within Depreciation and amortization during the three months ended December 31, 2025.Note 5 - Discontinued OperationsThe following table presents the financial results of Feminine Care included in (Loss) earnings from discontinued operations, net of tax for the three months ended December 31, 2025 and 2024:
Three Months EndedDecember 31,
2025
2024Net sales$                       64.0
$                       63.3Cost of products sold48.0
44.2Gross profit16.0
19.1



Selling, general and administrative expense12.5
3.3Advertising and sales promotion expense2.0
4.2Research and development expense0.6
0.5Restructuring charges0.2
0.1Impairment charges37.4
—Operating income(36.7)
11.0Loss on assets held for sale3.8
—(Loss) earnings from discontinued operations before income taxes(40.5)
11.0Income tax (benefit) expense on discontinued operations(4.0)
3.0(Loss) earnings from discontinued operations, net of tax$                      (36.5)
$                         8.0The following table presents changes in net sales for the three months ended December 31, 2025, as compared to the corresponding period in the prior year quarter related to discontinued operations.Net SalesQuarter ended December 31, 2025Discontinued OperationsNet Sales - Q1 2025$                 63.3

Organic0.7
1.1 %Impact of currency—
— %Net Sales - Q1 2026$                 64.0
1.1 %The following tables provide a GAAP to Non-GAAP reconciliation related to discontinued operations:
Gross Profit
SG&A
Operating
income
EBIT (Loss)
from
Discontinued
Operations
Income Taxes
(Benefit)
from
Discontinued
Operations
Net Earnings
from
Discontinued
Operations
Diluted EPS
from
Discontinued
OperationsDecember 31, 2025












GAAP — Reported$         16.0
$         12.5
(36.7)
(40.5)
$            (4.0)
$            (36.5)
$          (0.78)Restructuring and related costs—
—
0.2
0.2
—
0.2
0.00Impairment charges—
—
37.4
37.4
3.2
34.2
0.73Loss on sale—
—
—
3.8
0.9
2.9
0.06Vendor bankruptcy0.7
—
0.7
0.7
0.2
0.5
0.01Feminine Care divestiture costs—
(10.2)
10.2
10.2
2.5
7.7
0.17Total Adjusted Non-GAAP$         16.7
$           2.3
$           11.8
$            11.8
$              2.8
$               9.0
$            0.19



























December 31, 2024












GAAP — Reported$         19.1
$           3.3
11.0
11.0
$              3.0
$               8.0
$            0.17Restructuring and related costs—
—
0.1
0.1
—
0.1
0.00Total Adjusted Non-GAAP$         19.1
$           3.3
$           11.1
$            11.1
$              3.0
$               8.1
$            0.17The Company reports financial results on a GAAP and adjusted basis. The table below is used to reconcile Net earnings to EBITDA and Adjusted EBITDA, which are non-GAAP measures, to improve comparability of results between periods related to discontinued operations.
Three Months EndedDecember 31, 2025Net earnings from discontinued operations$                      (36.5)Income tax benefit(4.0)Interest expense, net —Depreciation and amortization1.3EBITDA from discontinued operations(39.2)

Restructuring and related charges0.2Vendor bankruptcy0.7Impairment charges37.4Feminine Care divestiture costs10.2Loss on sale3.8Adjusted EBITDA from discontinued operations$                        13.1Note 6 - Consolidated OperationsThe following table presents changes in net sales for the three months ended December 31, 2025, as compared to the corresponding period in the prior year quarter.Net SalesQuarter ended December 31, 2025











Continuing Operations
Discontinued
Operations
ConsolidatedNet Sales - Q1 2025$      415.1


$        63.3


$      478.4

Organic(1.9)
(0.5) %
0.7
1.1 %
(1.2)
(0.3) %Impact of currency9.6
2.4 %
—
— %
9.6
2.1 %Net Sales - Q1 2026$      422.8
1.9 %
$        64.0
1.1 %
$      486.8
1.8 % The following tables provide a GAAP to Non-GAAP reconciliation related to consolidated operations:Three Months Ended December 31, 2025
Gross
Profit
SG&A
Operating
Income
EBIT (Loss)
Income
Taxes
Provision(Benefit)
Net (Loss)
Income
Diluted
EPS GAAP — Reported$       177.0
$       114.9
$        (55.6)
$        (77.4)
$        (11.7)
$        (65.7)
$        (1.41)Restructuring and related costs5.8
(0.5)
24.6
24.6
6.0
18.6
0.40Sun Care reformulation costs—
—
1.0
1.0
0.2
0.8
0.02Gain on investment—
—
—
(1.5)
(0.3)
(1.2)
(0.03)Legal matter—
(1.0)
1.0
1.0
0.2
0.8
0.02Vendor bankruptcy0.7
—
0.7
0.7
0.2
0.5
0.01Other project and related costs—
(0.6)
0.6
0.1
—
0.1
0.00Impairment charges—
—
37.4
37.4
3.2
34.2
0.73Loss on sale—
—
—
3.8
0.9
2.9
0.06Feminine Care divestiture costs—
(10.2)
10.2
10.2
2.5
7.7
0.17Tax shortfall on equity compensation—
—
—
—
(2.7)
2.7
0.06Total Adjusted Non-GAAP$       183.5
$       102.6
$         19.9
$          (0.1)
$          (1.5)
$           1.4
$         0.03
Three Months Ended December 31, 2024
Gross
Profit
SG&A
Operating
Income
EBIT (Loss)
Income
Taxes
Provision(Benefit)
Net (Loss)
Income
Diluted
EPSGAAP — Reported$       191.6
$       102.9
$         20.3
$          (1.7)
$           0.4
$          (2.1)
$        (0.04)Restructuring and related costs—
—
4.2
4.2
1.0
3.2
0.07Acquisition and integration costs—
(0.5)
0.5
0.5
0.1
0.4
0.01Sun Care reformulation costs—
—
1.0
1.0
0.3
0.7
0.01Gain on investment—
—
—
(0.9)
—
(0.9)
(0.02)Other project and related costs—
(1.0)
1.0
2.8
0.8
2.0
0.04Total Adjusted Non-GAAP$       191.6
$       101.4
$         27.0
$           5.9
$           2.6
$           3.3
$         0.07The Company reports financial results on a GAAP and adjusted basis. The table below is used to reconcile Net earnings to EBITDA and Adjusted EBITDA, which are non-GAAP measures, to improve comparability of results between periods related to consolidated operations.
Three Months EndedDecember 31,
2025Net earnings$                    (65.7)Income tax benefit(11.7)Interest expense, net 18.8Depreciation and amortization21.3EBITDA(37.3)

Restructuring and related costs22.7Sun Care reformulation costs1.0Gain on investment(1.5)Legal matter1.0Vendor bankruptcy0.7Other project and related costs0.1Impairment charges37.4Feminine Care divestiture costs10.2Loss on sale3.8Adjusted EBITDA$                     38.1Note 7 - Outlook for Continuing OperationsThe following tables provide reconciliations of Adjusted EPS and Adjusted EBITDA, Non-GAAP measures, included within the Company's projected fiscal 2026 outlook for continuing operations. The below outlook reflects management's approximate expectations and are subject to rounding adjustments. As a result, the sum of individual amounts may not precisely equal the totals presented.Adjusted EPS Outlook

Fiscal 2026 GAAP EPSapprox.$0.55 - $0.95


Restructuring and related costsapprox.1.40Sun Care reformulation costsapprox.0.11Legal Matterapprox.0.02Gain on Investmentapprox.(0.03)Other costsapprox.0.08Income taxes(1)approx.(0.43)


Fiscal 2026 Adjusted EPS Outlook (Non-GAAP)approx.$1.70 - $2.10
(1) Income tax effect of the adjustments to Fiscal 2026 GAAP EPS noted above.
Adjusted EBITDA Outlook

Fiscal 2026 GAAP Net Incomeapprox.$25 - $45Income tax provisionapprox.7Interest expense, net of $5 interest incomeapprox.65Depreciation and amortizationapprox.77EBITDAapprox.$174 - $194


Restructuring and related costs (2)approx.63Sun Care reformulation costsapprox.5Legal Matterapprox.1Gain on Investmentapprox.-1Other costsapprox.4Fiscal 2026 Adjusted EBITDAapprox.$245 - $265
(2) Excludes accelerated depreciation, which is included within Depreciation and amortization.Note 8 - Previous Consolidated Outlook to Continuing Operations Outlook ReconciliationThe following tables provide reconciliations for Adjusted EPS and Adjusted EBITDA for comparison purposes to the Company's November outlook, only. The below outlook reflects management's approximate expectations, subject to rounding adjustments. As a result, the sum of individual amounts may not precisely equal the totals presented.FULL-FISCAL YEAR 2026 ADJ. EBITDA OUTLOOK RECONCILIATIONFiscal Year 2026
Annualized *November Adjusted EBITDA Outlook $290 to $310 million$                     300mid-point$                     3002025 Discontinued Operations (12 months)(61)
(61)Estimated Transition Services (8 months)17
26Current Continuing Ops Adjusted EBITDA Outlook $245 to $265 million$                     255mid-point$                     265



Change to prior outlook (previously $35 to $45 million annual)$                     (44)
$                     (36)



FULL-FISCAL YEAR 2026 ADJ. EPS OUTLOOK RECONCILIATIONFiscal Year 2026
Annualized *November Adjusted EPS Outlook $2.15 to $2.55$                    2.35mid-point$                    2.352025 Discontinued Operations (12 months)(3)(0.91)
(0.91)2026 Estimated Transition Services (8 months)0.31
0.472026 Efficiencies - Interest and Amortization improvement (8 months)0.17
0.25Current Continuing Ops Adjusted EPS Outlook $1.70 to $2.10$                    1.90mid-point$                    2.15



Change vs. prior outlook (previously $0.40 to $0.50 adj. EPS annual)$                  (0.44)
$                  (0.20)
(3) Includes 2025 Discontinued Operations Adjusted EPS impact ($0.71) and impact of tax allocation recast on continuing operations in 2025 ($0.20). 



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Original: Edgewell Personal Care Announces First Quarter Fiscal 2026 Results

Edgewell Personal Care Completes the Sale of its Feminine Care Business to Essity for $340MFebruary 2, 2026 12:16 PM
PR Newswire (US)

SHELTON, Conn., Feb. 2, 2026 /PRNewswire/ -- Edgewell Personal Care Company (NYSE: EPC) today announced that it has completed the sale of its feminine care business to Essity, a leading global health and hygiene company based in Sweden, for $340 million. Edgewell intends to use the net proceeds from the sale, after taxes and transaction costs, primarily to strengthen its balance sheet and pay down the balance of U.S. revolving credit facility while continuing to invest in the long-term growth of its core businesses.







"Completing the sale of our Feminine Care business is a pivotal step in Edgewell's transformation. By simplifying our portfolio and focusing our resources on shave, sun and skin care, and grooming, we are positioning Edgewell to be a more focused, agile and durable personal care company," said Edgewell President and CEO Rod Little. "The proceeds from this transaction will strengthen our balance sheet, support debt reduction and reinvestment behind our core brands and innovation pipeline, as we look to drive sustainable growth and long-term value for shareholders, while our Feminine Care colleagues gain new opportunities as part of Essity, a global leader in health and hygiene."Edgewell expects to work closely with Essity to ensure a smooth transition for employees, customers, and consumers of the Feminine Care business. The Company and Essity entered into a Transition Services Agreement to provide certain support services in the areas of accounting, information technology, quality assurance, operations and supply chain, and sales for a period of at least one year from the closing of the transaction.The Company will provide unaudited condensed consolidated financial information prepared in accordance with Article 11 of Regulation S-X to reflect the sale of the Feminine Care business as a discontinued operation. This pro forma condensed consolidated financial information is expected to be made available to investors in a Current Report on Form 8-K on or before February 6, 2026, while additional supplemental financial information will be provided during the Company's First Quarter Fiscal 2026 earnings call on February 9, 2026.Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statements, including without limitation statements regarding our anticipated uses of net proceeds from the transaction, anticipated benefits of the transaction to us and our stakeholders, and our strategy, future financial results, and competitive position. These statements are neither promises nor guarantees, but involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including, but not limited to, our ability to compete in products and prices, as well as costs, in an intensely competitive industry; the loss of any of our principal customers or changes in the policies of our principal customers; our inability to design and execute a successful omnichannel strategy; our ability to attract, retain and develop key personnel; fluctuations in the price and supply of raw materials and costs of labor, warehousing and transportation; as well as the other factors described in our Annual Report on Form 10-K for the year ended September 30, 2025, and as may be updated in the Company's other filings with the Securities and Exchange Commission. These factors could cause actual results to differ materially from those indicated by the forward-looking statements made in this press release. Any such forward-looking statements represent management's estimates as of the date of this press release. While we may elect to update such forward-looking statements at some point in the future, we disclaim any obligation to do so, even if subsequent events cause our views to change.About Edgewell Personal Care
Edgewell is a leading pure-play consumer products company with an attractive, diversified portfolio of established brand names such as Schick®, Wilkinson Sword® and Billie® men's and women's shaving systems and disposable razors; Edge and Skintimate® shave preparations; Banana Boat®, Hawaiian Tropic®, Bulldog®, Jack Black®, and CREMO® sun and skin care products; and Wet Ones® products. The Company has a broad global footprint and operates in more than 50 markets, including the U.S., Canada, Mexico, Germany, Japan, the U.K. and Australia, with approximately 6,700 employees worldwide.



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Original: Edgewell Personal Care Completes the Sale of its Feminine Care Business to Essity for $340M

Edgewell Personal Care Announces Third Quarter Fiscal 2022 Results (8/04/22)

Net Sales Increase of 8.7%, with 9.0% Organic Growth

Reiterates Organic Net Sales Outlook, Narrows Range for Adjusted EPS and EBITDA for Fiscal 2022

SHELTON, Conn., Aug. 4, 2022 /PRNewswire/ -- Edgewell Personal Care Company (NYSE: EPC) today announced results for its third fiscal quarter 2022 ended June 30, 2022.

Executive Summary

- Net sales were $623.8 million, an increase of 8.7% compared to the prior year period.

- Organic net sales increased 9.0% compared to the prior year period. (Organic basis excludes the impact of the Billie acquisition and the negative translational impact from currency.)

- GAAP Diluted Earnings Per Share ("EPS") were $0.57 for the third fiscal quarter compared to $0.74 in the prior year period.

- Adjusted EPS were $0.86 for the third quarter, compared to $0.89 in the prior year period.

- Ended the third fiscal quarter with $182 million in cash on hand, access to an additional $298 million revolving credit facility and a net debt leverage ratio of 3.5x.

- Repurchased $35 million of its common stock and paid $8 million of dividends in the third fiscal quarter in support of its capital allocation strategy.

- Board of Directors declared a cash dividend of $0.15 per common share on July 29, 2022 for the third fiscal quarter.

- Maintains organic net sales outlook, reflecting continued good demand and incremental pricing, and narrows the range for adjusted EPS and EBITDA.

The Company reports and forecasts results on a GAAP and non-GAAP basis and has reconciled non-GAAP results and outlook to the most directly comparable GAAP measures later in this release. See non-GAAP Financial Measures for a more detailed explanation, including definitions of various non-GAAP terms used in this release. All comparisons used in this release are with the same period in the prior fiscal year unless otherwise stated.

"Our fiscal third-quarter results reflect the continued execution of our strategy with strong organic net sales growth and solid earnings, both of which exceeded our expectations despite the volatile macro environment," said Rod Little, Edgewell's President and Chief Executive Officer. "Growth in the quarter was driven by strong volume growth and price, and was broad-based, with increases across both our North America and International markets, as well as in all segments, with accelerated growth in Sun Care and Feminine Care. Importantly, we delivered another quarter of market share gains in the U.S., further evidence that our brand building efforts are being well received by consumers. Looking ahead, we are firmly on track to deliver a second consecutive year of mid-single-digit organic net sales growth."

Fiscal 3Q 2022 Operating Results (Unaudited)

Net sales were $623.8 million in the quarter, an increase of 8.7% including a net impact of $21.1 million or 3.7% from the acquisition of Billie and a $22.4 million or 4.0% negative impact from currency. Organic net sales increased 9.0%, reflecting increased volumes and higher pricing in the quarter. North America organic net sales increased 9.3% while International markets increased 8.4%.

Gross profit was $240.6 million, as compared to $270.3 million in the prior year period. Gross margin as a percent of net sales for the third quarter of fiscal 2022 was 38.6% as compared to 47.1%. Adjusted gross margin was 42.2% compared to 47.2%, decreasing 500-basis points compared to the prior year quarter, as a 440-basis point net impact from higher commodity and transportation related costs net of productivity savings, and a 190-basis point combined impact from negative mix, higher trade spend and unfavorable currency, was only partly offset by the benefit from pricing.

The Company recorded a pre-tax charge to cost of goods sold of $22.5 million for the write off of inventory of certain Wet Ones SKUs and a related production contract termination charge which has been excluded from Adjusted gross margin.

Advertising and sales promotion expense ("A&P") decreased $1.0 million to $80.9 million, or 13.0% of net sales, as compared to $81.9 million, or 14.3% of net sales in the prior year quarter, as increased spending in support of Billie, Feminine Care and sun season execution was offset by lower spending in International markets due to COVID, and a shift in spend in North America to trade related spend.

Selling, general and administrative expense ("SG&A") was $92.7 million, or 14.9% of net sales, as compared to $97.5 million, or 17.0% of net sales in the prior year quarter. Adjusted SG&A decreased 40-basis points as a percent of net sales, as improved sales leverage, benefits from operational efficiency programs, and favorable currency translation more than offset the impact of the Billie acquisition, including amortization, and higher compensation expense.

The Company recorded pre-tax restructuring and other non-recurring expenses of $3.9 million in the quarter, consisting largely of severance and outplacement, as well as $0.9 million in acquisition and integration costs related to the Billie acquisition. The Company also recorded a $7.5 million gain related favorable legal settlement which has been excluded from adjusted SG&A.

Operating income was $49.9 million compared to $71.1 million in the prior year quarter. Adjusted operating income was $70.3 million, or 11.3% of net sales compared to $80.6 million in the prior year quarter.

Interest expense associated with debt for the third quarter of fiscal 2022 was $18.0 million, compared to $16.4 million in the prior year quarter. The increase in interest expense was the result of higher overall debt balance from draws on the Revolving Credit Facility in fiscal 2022 primarily to finance the acquisition of Billie.

Other (income) expense, net was income of $4.4 million in the third quarter of fiscal 2022, compared to an expense of $0.8 million in the prior year quarter. The increase in income was driven by favorable foreign currency hedge settlements compared to the prior year period, which helped to offset other negative operational impacts from currency.

The effective tax rate for the first nine months of fiscal 2022 was 18.5% compared to 26.1% in the prior year period. The adjusted effective tax rate for the first nine months of fiscal 2022 was 20.0%, down from the prior year nine-month adjusted effective tax rate of 24.8%. The fiscal 2022 effective and adjusted tax rates reflect a favorable mix of earnings in low tax jurisdictions combined with a favorable impact of a change in prior estimates.

GAAP net earnings for the quarter were $30.5 million or $0.57 per share compared to $40.8 million or $0.74 per share in the third quarter of fiscal 2021. Adjusted net earnings in the quarter were $45.8 million or $0.86 per share, compared to $49.2 million or $0.89 per share in the prior year period, and adjusted EBITDA was $97.1 million compared to $101.2 million in the prior year period.

Net cash from operating activities was $72.4 million for the nine months ending June 30, 2022 compared to $155.9 million in the prior year period, driven by a larger net working capital build.

Capital Allocation

On July 29, 2022, the Board of Directors declared a quarterly cash dividend of $0.15 per common share for the third fiscal quarter. The dividend will be payable on October 5, 2022 to shareholders of record as of the close of business on September 2, 2022. During the third quarter of fiscal 2022, the Company paid dividends totaling $8.0 million to stockholders.

During the third quarter of fiscal 2022, the Company completed share repurchases of approximately 1.0 million shares at a total cost of $34.7 million. For the first nine months of fiscal 2022, the Company completed share repurchases of approximately 2.9 million shares at a total cost of $110.1 million. As of June 30, 2022 The Company has 6.9 million shares of common stock available for repurchase in the future under the Board's 2018 authorization.

Fiscal 3Q 2022 Operating Segment Results (Unaudited)

Wet Shave (Men's Systems, Women's Systems, Disposables, and Shave Preps)

Net sales increased $21.4 million, or 7.0%. Organic net sales increased $19.1 million or 6.3%, driven by increases in Men's and Women's Systems, Disposables, and Shave Preps. Organic net sales in North America increased 5.2%, reflecting higher volumes and price, while International organic net sales increased 7.1%, primarily driven by higher volumes. Wet Shave segment profit decreased $5.6 million, or 13.0%. Organic segment profit, excluding the negative impact from currency translation and the acquisition of Billie was essentially flat, reflecting lower gross profit, offset by lower spending.

Sun and Skin Care (Sun Care, Wet Ones, Bulldog, Jack Black and Cremo)

Net sales increased $21.0 million, or 10.8%. Organic net sales increased $24.6 million, or 12.6%, largely driven by Sun Care growth of about 15%, reflecting distribution and market share gains in North America, stronger than expected early season consumption and the continued recovery in International travel. Additionally, Grooming organic net sales increased 7.5%, driven by 14% growth in International, while Wet Ones organic net sales returned to growth, increasing 7.4%. Segment profit increased $1.6 million, or 3.6%. Organic segment profit increased $2.2 million, or 4.9%, driven largely by higher sales.

Feminine Care (Tampons, Pads, and Liners)

Net sales increased $7.7 million, or 10.5%, reflecting higher category consumption and pricing, and the impact of improved product availability and shelf replenishment. Segment profit decreased $4.9 million or 35.8%. Organic segment profit decreased $4.8 million or 35.1%, largely driven by lower gross profit, reflecting higher commodity and transportation related costs, as well as increased A&P support.

Full Fiscal Year 2022 Financial Outlook

The Company is updating its previously provided outlook assumptions for fiscal 2022 to reflect the impact of third fiscal quarter results and projected impacts of the strengthening of the U.S. dollar against most major currencies.

- Reported net sales expected to increase approximately 4%

Includes an estimated 340-basis point increase from the acquisition of Billie, net of Edgewell sales to Billie

Updated to include an estimated 310-basis point negative impact from currency translation (previously 200-basis point negative impact)

- Organic sales expected to increase approximately 4%

- GAAP EPS expected to be in the range of $1.83 to $1.93 (previously $1.93 to $2.21)

Includes: Restructuring charges, SKU rationalization charges, acquisition and
integration costs, Sun Care reformulation costs, value added tax settlement
costs, and income from a legal settlement

- Adjusted EPS expected to be in the range of $2.50 to $2.60 (previously $2.38 to $2.66)
Range is updated to reflect year-to-date performance, estimated negative effect
of unfavorable foreign currency, and the incremental benefit of share
repurchases not included in the previous outlook. Fiscal year adjusted gross
margin is now expected to decline 390-basis points (previously 350-basis point
decline) in equal part due to negative currency impacts and the impact of
negative channel and category mix.

The EPS outlook reflects the impact of total fiscal year-to-date share repurchases through June 30, 2022
Adjusted EBITDA expected to be in the range of $335 to $340 million (previously $330 to $345)

- Adjusted effective tax rate expected to be in the range of 21% to 22%

- Total depreciation and amortization expense expected to be $91 million (previously $91.5 million)

- Expected capital expenditures expected to be approximately 2.7% to 3.0% of net sales

Free cash flow expected to be above 100% of GAAP net earnings

*In Fiscal 2022, the Company is taking specific actions to strengthen its operating model, simplify the organization and improve manufacturing and supply chain efficiency and productivity. As a result of these actions, the Company expects to incur one-time charges of approximately $15 million, inclusive of $9.8 million incurred in the first nine months of fiscal 2022.

Webcast Information

In conjunction with this announcement, the Company will hold an investor conference call beginning at 8:00 a.m. Eastern Time today. All interested parties may access a live webcast of this conference call at www.edgewell.com, under the "Investors," and "News and Events" tabs or by using the following link: http://ir.edgewell.com/news-and-events/events

For those unable to participate during the live webcast, a replay will be available on www.edgewell.com, under the "Investors," "Financial Reports," and "Quarterly Earnings" tabs. This release includes references to the Company's website and references to additional information and materials found on its website. The Company's website and such information and materials are not incorporated by reference in, and are not part of, this release.

About Edgewell

Edgewell is a leading pure-play consumer products company with an attractive, diversified portfolio of established brand names such as Schick®, Wilkinson Sword® and Billie® men's and women's shaving systems and disposable razors; Edge and Skintimate® shave preparations; Playtex®, Stayfree®, Carefree® and o.b.® feminine care products; Banana Boat®, Hawaiian Tropic®, Bulldog®, Jack Black®, and CREMO® sun and skin care products; and Wet Ones® products. The Company has a broad global footprint and operates in more than 50 markets, including the U.S., Canada, Mexico, Germany, Japan, the U.K. and Australia, with approximately 6,900 employees worldwide.

https://www.prnewswire.com/news-releases/edgewell-personal-care-announces-third-quarter-fiscal-2022-results-301599540.html

l

Repurchases will be ramping up over the next three years.
During fiscal 2021, the Company completed repurchases of 250,000 shares for a cost of $9.2 million. The Company has 9.75 million shares of common stock available for repurchase in the future under the Board's 2018 authorization.
The average cost paid in fiscal 2021 is about $36.80.

Edgewell Personal Care Announces Fourth Quarter and Fiscal 2021 Results; Provides 2022 Outlook (11/11/21)

Net Sales Increased 11.1%, or 8.4% Organic in Fourth Quarter and 7.1%, or 3.7% Organic in Fiscal 2021

Operating Income Increased 53% for the Fourth Quarter and 36% for the Fiscal Year

Completes Project Fuel with Total Cumulative Gross Savings of ~$280 million

Initiates Fiscal 2022 Outlook for growth in Organic Net Sales, Adjusted EPS and Adjusted EBITDA

Announces intent to repurchase approximately $300 million in common shares over the next three fiscal years

SHELTON, Conn., Nov. 11, 2021 /PRNewswire/ -- Edgewell Personal Care Company (NYSE: EPC) today announced results for its fourth fiscal quarter 2021 and fiscal year ended September 30, 2021 and provided its financial outlook for fiscal 2022.

Executive Summary

- Net sales were $543.2 million in the fourth quarter of fiscal 2021, an increase of 11.1% compared to the prior year quarter, and $2,087.3 million for the full year, an increase of 7.1% compared to the prior year.

- Organic net sales increased 8.4% for the quarter and 3.7% for the full year. (Organic basis excludes the impact from the sale of the Infant and Pet Care business, the acquisition of Cremo Holding Company, LLC, and the translational impact from currency.)

- GAAP Diluted Earnings Per Share ("EPS") were $0.80 for the fourth quarter and $2.12 for fiscal year 2021.

- Adjusted EPS were $1.01 for the fourth quarter and $3.02 for the full year.

- The Company ended the fiscal fourth quarter with $479.2 million of cash on hand, access to an undrawn $425.0 million credit facility and a net debt leverage ratio of 2.1 times.

The Company reports and forecasts results on a GAAP and Non-GAAP basis and has reconciled Non-GAAP results and outlook to the most directly comparable GAAP measures later in this release. See Non-GAAP Financial Measures for a more detailed explanation, including definitions of various Non-GAAP terms used in this release. All comparisons used in this release are with the same period in the prior fiscal year unless otherwise stated.

"We had a strong finish to our fiscal year with a fourth quarter organic sales increase of over 8% and an operating income increase of over 50%. Our top-line strength was broad based, with growth in both our North America and International markets, as well as across all segments, said Rod Little, Edgewell's President and Chief Executive Officer.

"A year ago, we launched our new growth strategy and our full year performance is clear evidence of the progress we have made. This is a testament to our team members who have executed with excellence in a challenging environment, as we made meaningful investments in our brands and products, launched innovation and increased digital engagement. This resulted in organic net sales growth of nearly 4% for the fiscal year, gross margin accretion and meaningful increases in adjusted EBITDA and EPS." Mr. Little continued.

"Looking to fiscal 2022, we are encouraged by the improving demand environment, but also face a challenging marketplace, with on-going supply chain disruptions and significant cost inflation. Against this backdrop, we feel confident in our ability to sustain top-line growth with continued progress on the key strategic priorities that support our long-term strategy. We will continue to invest in our brands and capabilities while accelerating our productivity and efficiency efforts to drive adjusted EPS and EBITDA growth. The fundamental strength of our performance, our confidence in the ongoing free cash flow profile of our business, and our commitment to a disciplined and balanced approach to capital allocation, collectively supports our ambition to repurchase $300 million of common stock over the next three fiscal years."

Fiscal 4Q 2021 Operating Results (Unaudited)

Net sales were $543.2 million in the quarter, an increase of 11.1%. Excluding an $11.1 million positive impact from the Cremo acquisition and a $2.2 million positive impact from currency movements, organic net sales increased 8.4% . North America organic net sales increased 11.0% driven by strong growth in Sun Care and Grooming, Women's Systems, Disposables and Feminine Care. International organic net sales increased 5.6%, driven by growth in Sun Care and Women's Systems.

Gross profit was $244.8 million, as compared to $222.1 million in the prior year period. Gross margin as a percent of net sales was 45.1%, a decrease of 30 basis points as compared to the prior year period. Adjusted gross margin percentage decreased 30 basis points compared to the prior year period, as the benefit of gross savings from Project Fuel, product mix and pricing were more than offset by higher commodity and supply chain costs, as well as the previously communicated impact from Japan returns, ahead of the Hydro brand relaunch.

Advertising and sales promotion expense ("A&P") was $50.0 million, or 9.2% of net sales, as compared to $60.6 million, or 12.4% of net sales in the prior year period. The decreased spending in the quarter was in line with expectations and reflects the timing of new product launches and marketing campaign executions. Digital spending represented over 60% of overall advertising spend in the quarter.

Selling, general and administrative expense ("SG&A") was $107.2 million, or 19.7% of net sales, as compared to $101.0 million, or 20.7% of net sales in the prior year period. Adjusted SG&A, which excludes restructuring charges and acquisition and integration costs, was essentially flat with the prior year period as a percent of net sales, with the benefit of sales leverage in the current quarter and gross Project Fuel savings partly offset by the impact of Cremo overhead costs and higher incentive costs, some of which were one-time in nature.

The Company recorded pre-tax restructuring and other non-recurring expenses of $16.9 million in the quarter in support of Project Fuel and business development and integration efforts, consisting largely of severance and outplacement, IT enablement and consulting costs.

Operating income was $63.2 million compared to $41.3 million in the prior year, an increase of 53%. Adjusted operating income was $80.1 million in the quarter, compared to $56.8 million in the prior year period, with adjusted operating profit margin increasing 310 basis points as a percentage of net sales.

GAAP net earnings for the quarter were $44.1 million or $0.80 per share compared to $21.0 million or $0.38 per share in the fourth quarter of fiscal 2020. Adjusted net earnings in the quarter were $55.7 million or $1.01 per share, as compared to $32.6 million or $0.59 per share in the prior year period. The increase in adjusted net earnings was driven by higher adjusted operating income and a lower effective tax rate. Adjusted EBITDA was $102.3 million compared to $80.3 million in the prior year period.

Project Fuel

Project Fuel was an enterprise-wide transformational initiative that was launched in the second fiscal quarter of 2018 and completed at the end of fiscal 2021. The project addressed all aspects of Edgewell's business and cost structure, simplifying and transforming the organization, structure and key business processes.

Fiscal fourth quarter 2021 Project Fuel related gross savings were approximately $15 million, bringing final cumulative gross savings for the project to approximately $280 million. The savings generated have been used to fuel investments and brand building in strategic growth initiatives, mitigate operational cost headwinds from inflation and other rising input costs and improve the overall profitability and cash flow of the Company.

To implement the restructuring element of Project Fuel, the Company incurred one-time pre-tax charges of approximately $164 million through the end of the 2021 fiscal year.

Fiscal 4Q 2021 Operating Segment Results (Unaudited)

The following is a summary of fourth quarter results by segment:

Wet Shave (Men's Systems, Women's Systems, Disposables and Shave Preps)

Wet Shave net sales increased $12.4 million, or 3.8%. Organic net sales increased $11.8 million or 3.6%, driven by on-going growth in Women's shave, both branded and private label, and higher consumption across the full category. By region, North America organic net sales increased 3% while International markets increased 4.2%. Wet Shave segment profit increased $15.2 million, or 23.7%, driven by higher sales and gross profit, as well as lower A&P spending.

Sun and Skin Care (Sun Care, Wipes, Bulldog, Cremo and Jack Black)

Sun and Skin Care net sales increased $35.1 million, or 37.9%. Organic net sales increased $22.8 million, or 24.6%. The increase in organic net sales was primarily driven by Sun Care growth of 56%, reflecting increased consumption and market share gains in the U.S., and Men's Grooming, which increased 20.8%, including strong September sales from Cremo and accelerated growth from Jack Black. Wet Ones organic net sales decreased 6.2% in the quarter. Sun and Skin Care segment profit increased $11.1 million, driven by increased volumes and higher gross margin, partly offset by higher A&P spending.

Feminine Care (Tampons, Pads and Liners)

Feminine Care net sales increased $6.9 million, or 9.9%. Organic net sales increased $6.5 million, or 9.4%, driven by increased consumption and market share growth in Tampons. Feminine Care segment profit increased $0.2 million, or 2.2%.

Fiscal 2021 Operating Results (Unaudited)

Net sales were $2,087.3 million in fiscal 2021, an increase of 7.1%. Excluding the impact of the Cremo acquisition, the divestiture of the Infant and Pet Care business and currency movements, organic net sales increased 3.7%. The increase in organic net sales was largely driven by improving consumption across all categories and strong growth in Sun Care, Women's Shave and Men's Grooming. By region, organic net sales increased in North America by 5.2% and in International markets by 1.4%.

Gross Margin was $950.1 million compared to $880.9 in the prior year. Gross profit as a percent of net sales was 45.5%. Adjusted gross margin as a percent of net sales increased by 30 basis points, driven by gross savings from Project Fuel and favorable price and promotion, partially offset by rising commodity and supply chain costs and higher obsolescence charges.

A&P was $241.5 million or 11.6% of net sales, up $25.3 million from the prior year. A&P as a percent of net sales was 11.1% for the prior year. The increase in A&P was primarily driven by increased investments to support critical commercial efforts, including; the Schick Hydro relaunch, Stubble Eraser innovation, and Skintimate and Sun Care in-season support.

SG&A was $391.2 million, or 18.7% of net sales, including $22.0 million of intangibles amortization. Adjusted SG&A as a percent of net sales was 18.0%, a decrease of 30-basis points compared to the prior year, as stronger cost control and the benefit of sales leverage more than offset investments made in increased talent and capabilities and unfavorable foreign currency fluctuations.

Operating income was $238.8 million compared to $176.0 million in the prior year, an increase of 36%. Adjusted operating income was $278.4 million, compared to $258.5 million in the prior year period, with adjusted operating profit margin flat with the prior year.

The effective tax rate for fiscal 2021 was 19.8% as compared to 22.6% in the prior year. The adjusted effective tax rate for fiscal 2021 was 21.2%, down from the prior year period adjusted tax rate of 22.5%. The fiscal 2021 effective tax rate reflects a more favorable mix of foreign earnings while fiscal 2020 includes the unfavorable impact of the sale of Infant and Pet Care business.

GAAP Net earnings in fiscal 2021 were $117.0 million or $2.12 per share, compared to $67.6 million or $1.24 per share in fiscal 2020. Adjusted net earnings were $166.7 million or $3.02 per share, compared to $148.8 or $2.73 per share in fiscal 2020.

Net cash from operating activities was $229.0 million for fiscal 2021, as compared to $232.6 million for the prior year. The slight decrease in fiscal 2021 was primarily a result of net cash outflow from working capital in the current period compared to an inflow from working capital changes in the prior year period, partially offset by improved earnings compared to the prior year period.

Capital Allocation

On November 4, 2021, the Board of Directors declared a quarterly cash dividend of $0.15 per common share for the fourth fiscal quarter. The dividend is payable January 6, 2022 to stockholders of record as of the close of business on December 3, 2021.

During fiscal 2021, the Company completed repurchases of 250,000 shares for a cost of $9.2 million. The Company has 9.75 million shares of common stock available for repurchase in the future under the Board's 2018 authorization.

As a part of the Company's capital allocation strategy the Company plans to implement a more consistent approach to share repurchases and intends to repurchase approximately $300 million in EPC common shares over the next three fiscal years. Additionally, the Company intends to enter into a Rule 10b5-1 trading plan to facilitate the repurchase of its common shares in accordance with this share repurchase program.

Full Fiscal Year 2022 Financial Outlook

The Company is providing the following outlook assumptions for fiscal 2022:

Reported net sales to increase low-single digits
Includes: 110 basis-point negative impact from currency translation
Organic sales to increase low-single digits
GAAP EPS in the range of $2.73 to $3.01
Includes: Restructuring charges* of $17 million and Sun Care Monograph costs of approximately $2 million
Adjusted EPS in the range of $2.98 to $3.26
The EPS outlook includes an assumption that share repurchases will offset dilution only.
Adjusted EBITDA in the range of $365 to $385 million
Adjusted effective tax rate to be in the range of 22% to 23%
Capital expenditures approximately 3.0% of net sales
Free cash flow expected to be approximately 100% of GAAP net earnings
* In Fiscal 2022, the Company will take specific actions to strengthen its operating model, simplify the organization and improve manufacturing and supply chain efficiency. As a result of these actions, we expect to incur one-time charges of approximately $17 million.

Webcast Information

In conjunction with this announcement, the Company will hold an investor conference call beginning at 8:00 a.m. Eastern Time today. All interested parties may access a live webcast of this conference call at www.edgewell.com, under the "Investors," and "News and Events" tabs or by using the following link: http://ir.edgewell.com/news-and-events/events

For those unable to participate during the live webcast, a replay will be available on www.edgewell.com, under the "Investors," "Financial Reports," and "Quarterly Earnings" tabs.

About Edgewell

Edgewell is a leading pure-play consumer products company with an attractive, diversified portfolio of established brand names such as Schick® and Wilkinson Sword® men's and women's shaving systems and disposable razors; Edge® and Skintimate® shave preparations; Playtex®, Stayfree®, Carefree® and o.b.® feminine care products; Banana Boat®, Hawaiian Tropic®, Bulldog®, Jack Black®, and CREMO® sun and skin care products; and Wet Ones® products. The Company has a broad global footprint and operates in more than 50 markets, including the U.S., Canada, Mexico, Germany, Japan, the U.K. and Australia, with approximately 6,900 employees worldwide.

https://www.prnewswire.com/news-releases/edgewell-personal-care-announces-fourth-quarter-and-fiscal-2021-results-provides-2022-outlook-301421824.html

Edgewell Personal Care to Pursue Standalone Value Creation Strategy
Terminates Merger Agreement with Harry's, Inc. (2/10/20)

SHELTON, Conn., Feb. 10, 2020 /PRNewswire/ -- Edgewell Personal Care Company (NYSE: EPC) today announced that following the U.S. Federal Trade Commission's ("FTC") filing of a lawsuit seeking to block the proposed transaction, Edgewell terminated its merger agreement with Harry's, Inc. Harry's has informed the Company that it intends to pursue litigation. The Company believes that such litigation has no merit.

Edgewell is now moving forward as a standalone company and is pursuing its strategy to create value for shareholders.

"We are disappointed by the FTC's decision and continue to disagree with its position," said Rod Little, Edgewell's President and Chief Executive Officer. "After extensive consideration and discussion, and given the inherent uncertainty of a potential trial, the required investment of resources and time and the distraction that a continuing court battle would entail, we determined that proceeding with our standalone strategy is the best course of action for Edgewell and our shareholders."

Mr. Little continued, "Edgewell is moving forward standalone with a strong foundation, a revamped management team and improving underlying performance, and we are confident in our ability to create value. We are committed to building a next generation CPG company by leveraging our core strengths, strategically adding to our capabilities and increasing engagement with consumers and retailers to enhance our ability to drive growth and value creation."

Edgewell Has a Strong Foundation and Clear Plan to Drive Growth and Value Creation

Leveraging its Global Scale. Edgewell operates in more than 20 countries with extensive retail reach across 50 countries. The Company has a diversified revenue profile across geographies and segments. North America represents about 60% of the Company's global revenue and its international businesses contributes 40%. By segment, the Wet Shave business represents nearly 60% of its revenue and the Sun Care and Feminine Care segments add up to more than 40% of its revenue.

Building on Unparalleled Technology and Intellectual Property. The Company's technology stack and intellectual property provide clear competitive advantages and an ability to repeatedly bring innovation to the categories. Consistently producing high quality, durable blades is a requirement for sustainable growth in the Wet Shave category, and as such, Edgewell is well positioned for continued success. Additionally, the Company has three different R&D facilities and a leading Sun Care formulation capability.

Focusing on Core Categories. The actions the Company has taken to refine its portfolio position it well in its core categories: Grooming, Sun & Skin Care and Feminine Care. With the successful divestiture of the Infant Care business in the fourth quarter of 2019, the Company is focused on and further investing in growth in support of its strong stable of brands, including Schick, Wilkinson Sword, Banana Boat, Hawaiian Tropic and Playtex, as well as its newer brands, including Bulldog and Jack Black.

Operating Efficiently. The Company is continuing to implement Project Fuel, an enterprise-wide transformational initiative, launched in the second fiscal quarter of 2018, to address all aspects of Edgewell's business and cost structure, simplifying and transforming the organization, structure and key processes. Through expected annual gross savings of $225 to $240 million in total by the end of the 2021 fiscal year, Project Fuel is facilitating further re-investment in the Company's growth strategy while enabling Edgewell to achieve its desired future state operations.

Maintaining a Strong Financial Position. The Company maintains a solid balance sheet, has a strong credit profile and continues to generate significant cash flows. The Company is already working to put in place an optimized capital structure to appropriately support the strategic needs of the business going forward.

Executing a Balanced Capital Allocation Strategy. The Company's strong free cash flow generation and leverage position provide flexibility to allocate capital to the areas of highest returns. The Company's primary use of capital will continue to be investing appropriately in the long-term, sustainable growth of the business, both organic and through disciplined M&A. The Company will use a balanced approach to opportunistically return capital to shareholders.

Benefiting from new leadership team. The Company has revamped its leadership team over the last 18 months with key changes, including a new CEO, CFO, COO and GC, new head of global operations, a new global innovation and marketing leader, as well as new Board members. The Company is working to identify quickly a new leader for its North American business, with focus on a seasoned, dynamic leader who has the right complement of sales and marketing expertise required to lead the business forward in this important geography.
Mr. Little concluded, "I want to personally thank Andy and Jeff, the Co-CEO's of Harry's, for all of their collective efforts in working to get this deal done over the past months. Having said that, we will now move forward with urgency to further strengthen our business, refine our strategic priorities and create sustainable shareholder value. We are focused on innovating and building brands consumers love, strengthening our strategic partnerships with retailers, continuing to simplify through Project Fuel and maintaining a strong financial position. We will also ensure that we continue investing in our people and have top-talent in critical commercial roles. We understand our strengths and know the areas of our business where we can improve performance and are pleased with the progress we are making. In short, we are confident we are well positioned to succeed."

About Edgewell

Edgewell (NYSE: EPC) is a leading pure-play consumer products company with an attractive, diversified portfolio of established brand names such as Schick® and Wilkinson Sword® men's and women's shaving systems and disposable razors; Edge® and Skintimate® shave preparations; Playtex®, Stayfree®, Carefree® and o.b.® feminine care products; Banana Boat®, Hawaiian Tropic®, Bulldog® and Jack Black® sun and skin care products, and Wet Ones® moist wipes. The Company has a broad global footprint and operates in more than 50 markets, including the U.S., Canada, Mexico, Germany, Japan, the U.K. and Australia, with approximately 6,000 employees worldwide.

https://www.prnewswire.com/news-releases/edgewell-personal-care-to-pursue-standalone-value-creation-strategy-301001813.html

Fake offer!

Offer terms
07/03/2019 2:21 PM ET

Edgewell Personal Care has initiated an odd lot tender offer open to holders of 99 shares or less of their common stock as of record date 06/12/2019.

If you are considered an "odd lot holder", you have the option to:

1- Sell all of your shares

2- Buy enough shares to own a "round lot" of 100 shares.

You will receive a market-based price per share that cannot be guaranteed in advance and will be uniformly applied to all shareholders participating in the program from June 26, 2019 through July 26, 2019.
Holders participating in the round-up option will be charged the purchase deposit price equal to $43 multiplied by the number of shares to be purchased in order to reach a round lot of 100 shares.

A processing fee per share sold or bought of $3.00 (up to a maximum per account of $60) will be deducted from the proceeds to defray the cost of the program.
I have already contacted IR.

Cooperation Agreement with Legion Partners (10/30/18)

On October 28, 2018, Edgewell Personal Care Company (the “Company”), entered into an agreement (the “Cooperation Agreement”) with Legion Partners Asset Management, LLC and certain related investors (collectively, “Legion Partners”).

Pursuant to the Cooperation Agreement, the Company increased the size of the Company’s Board of Directors (the “Board”) from 10 to 12 directors and appointed Robert W. Black and George Corbin (collectively, the “New Directors”) to fill the newly created directorships. Each of Mr. Black and Mr. Corbin will serve an initial term expiring at the Company’s 2019 annual meeting of shareholders, and will be included in the Company’s slate of director nominees for re-election at the 2019 annual meeting.

Pursuant to the Cooperation Agreement, the Company also agreed that the Board will determine in good faith prior to August 15, 2019 (or, if earlier, the date of termination of the Standstill Period (as defined below)) whether it would be in the best interests of the Company to reincorporate the Company from Missouri to Delaware. If the Board determines that it would be in the best interests of the Company to proceed with a reincorporation, the Company has agreed to use its reasonable best efforts to obtain shareholder approval of such reincorporation by no later than the Company’s 2020 annual meeting (to be held no later than March 1, 2020), and if shareholder approval is obtained, to complete the reincorporation as soon as reasonably practicable thereafter. The Company has also agreed to, prior to the Company’s 2019 annual meeting, implement a director resignation policy in connection with the Company’s majority voting standard.

Legion Partners has agreed to withdraw its submission of candidates for nomination at the Company’s 2019 annual meeting. In addition, the Cooperation Agreement requires Legion Partners to, at the Company’s 2019 annual meeting and at any meeting of the Company’s shareholders held prior to the date of termination of the Standstill Period, vote all of its shares of Company common stock in favor of the election of directors nominated by the Board and otherwise in accordance with the Board’s recommendation, subject to certain exceptions for extraordinary transactions, adoption of corporate defenses, compensation-related matters, and matters with a contrary recommendation from both Institutional Shareholder Services Inc. and Glass Lewis & Co., LLC.

The Cooperation Agreement includes certain restrictions, applicable from October 28, 2018 until the date that is 15 calendar days prior to the last day of the advance notice period for the submission by shareholders of director nominations for the Company’s 2020 annual meeting, as set forth in the advance notice provisions of the Company’s Amended and Restated Bylaws (the “Standstill Period”). During the Standstill Period, Legion Partners is, among other things, restricted from engaging in any solicitation of proxies or written consents relating to the Company, acquiring any assets of the Company, or acquiring any voting stock that would result in Legion Partners having beneficial ownership of more than 9.9% of the Company’s outstanding common stock.

https://www.sec.gov/Archives/edgar/data/1096752/000109675218000033/epc8-k102818.htm

2

Edgewell Personal Care Appoints George Corbin and Robert Black to the Company's Board of Directors (10/29/18)

SHELTON, Conn., Oct. 29, 2018 /PRNewswire/ -- Edgewell Personal Care Company (NYSE: EPC) ("Edgewell" or "the Company") today announced that the Company's Board of Directors has appointed George Corbin and Robert Black to the Board, and nominated Mr. Corbin and Mr. Black to stand for election at the Company's 2019 annual meeting. The appointment of Mr. Corbin and Mr. Black follows the Company's appointment of five new directors over the last three years, including two additions in September 2018. With the addition of the two new independent directors, the Edgewell Board has expanded from ten to twelve directors, all of whom are independent except for the Chief Executive Officer.

In conjunction with today's actions, the Company also announced that it has entered into an agreement with Legion Partners Asset Management LLC ("Legion Partners").

"We are pleased to have reached this constructive outcome and look forward to benefiting from the digital, e-commerce, innovation and international business expertise that George and Bob bring to our Board," said David Hatfield, Edgewell's Chief Executive Officer, President and Chairman of the Board. "Our Board and management are focused on our previously-announced initiatives to reduce costs, drive growth and position Edgewell as a stronger competitor across our categories, and will continue to take actions that are in the best interests of the Company and all of its shareholders."

Chris Kiper, Co-Founder and Managing Director of Legion Partners, said, "Edgewell has a valuable portfolio of brands with enormous potential. We are pleased to have engaged with the Board to reach a resolution that implements important corporate governance initiatives and adds new independent directors who will help the Company navigate the current market conditions and pursue our shared goal of enhancing shareholder value."

As part of the agreement, Legion Partners has agreed to abide by certain customary standstill provisions and to support the Edgewell Board's slate of nominees at the 2019 Annual Meeting. The Company has agreed to implement a director resignation policy in connection with its majority voting standard and will evaluate whether it would be in the best interests of the Company to reincorporate in Delaware. The complete agreement will be included as an exhibit to a Current Report on Form 8-K, which will be filed with the Securities and Exchange Commission.

About George Corbin

Mr. Corbin is a seasoned technology executive with nearly 20 years of experience in digital marketing, e-commerce and customer experience optimization. He brings to Edgewell strong digital expertise and a track record of driving growth and innovation through digital solutions, design thinking, data analytics capabilities and automation. Mr. Corbin currently serves as Chief Digital Demand Officer of Mars, Inc., a $35 billion consumer packaged goods conglomerate, where he focuses on integrating and optimizing Mars' e-commerce and digital businesses. Previously, Mr. Corbin served as Senior Vice President, Digital at Marriott International, where he spent more than 14 years accelerating digitization and was responsible for setting Marriott's mobile, web and digital strategies. Before that, Mr. Corbin served as Vice President, eBusiness Strategy at a major internet consultancy, where he developed and implemented major e-commerce and strategic transformation programs at major Fortune 500 corporations. Mr. Corbin holds a Bachelor's degree from the University of California-Davis, and an MBA from Harvard Business School.

About Robert Black

Mr. Black brings extensive international business, digital commerce, strategy, operations and innovation experience to the Edgewell Board. He currently serves as an Executive Advisor Partner at Wind Point Partners and a Senior Advisor to The Boston Consulting Group, Inc. Mr. Black previously served as Group President at Kimberly-Clark International, where he led the portfolio reconstruction, reinvigoration and reorganization of the company's international businesses. Prior to becoming Group President, Mr. Black served as Kimberly Clark's Chief Strategy Officer and Chief Innovation Officer. Before that, Mr. Black served as Board Director and Chief Operating Officer of Sammons Enterprises, where he led the company's growth and business transformation strategy. Previously, he served as President of Steelcase International, where he transformed the business through acquisitions, rationalized branding, reconfiguring the organization and launching new products. He initially served as Steelcase's Chief Strategy Officer with additional responsibility for M&A and led the company's IPO. Mr. Black holds a Bachelor's degree in Management at University of Buffalo and an MBA from Harvard Business School.

About Edgewell Personal Care

Edgewell is a leading pure-play consumer products company with an attractive, diversified portfolio of established brand names such as Schick® and Wilkinson Sword® men's and women's shaving systems and disposable razors; Edge® and Skintimate® shave preparations; Playtex®, Stayfree®, Carefree® and o.b.® feminine care products; Banana Boat® and Hawaiian Tropic® sun care products; Playtex® infant feeding, Diaper Genie®; Bulldog® and Jack Black® male skin care and grooming products; and Wet Ones® moist wipes. The Company has a broad global footprint and operates in more than 50 markets, including the U.S., Canada, Mexico, Germany, Japan and Australia, with approximately 6,000 employees worldwide.

https://www.prnewswire.com/news-releases/edgewell-personal-care-appoints-george-corbin-and-robert-black-to-the-companys-board-of-directors-300739270.html

$EPC Aug $60 Call Buyer +2500 for .35
placed early Friday 7/13

closed Friday at $51.64

Edgewell Personal Care Could Attract Buyer With Deep Pockets (4/29/17)

The consumer-products company looks like a bargain. Its Schick shaving business has room to grow.

By David Englander

Procter & Gamble’s move to cut prices on some razors in its Gillette business has put pressure on shares of smaller rival Edgewell Personal Care, the owner of Schick.

Edgewell’s stock (ticker: EPC) has dropped more than 10% since P&G (PG) announced the price cuts in February. They took effect about a month ago, and apply to Gillette’s men’s razors and blades in the U.S.

Schick competes directly with Gillette in the shaving aisle, and investors fear that lower prices could hurt Schick’s sales. P&G is the global market leader in shaving products, and Edgewell is No. 2. Based in St. Louis, Edgewell will report fiscal second-quarter earnings on Tuesday.

While the news isn’t good for Edgewell, the selloff in its stock looks like an opportunity. At a recent $71.63, the shares trade for an enterprise value of 12 times 2017 earnings before interest, taxes, depreciation, and amortization. That appears inexpensive for such a high-quality franchise.

Edgewell is bite-size in a market dominated by giants such as P&G and Unilever (UL). Its Schick division, in particular, is a unique, scarce asset. Its other brands include Skintimate, Edge, Playtex, and Hawaiian Tropic.

Growth has stalled at consumer-products companies, but that could work in Edgewell’s favor and make it an enticing acquisition target for a larger player. Historically, scarce consumer-products assets have sold for high multiples of Ebitda.

Still, skepticism runs high on Wall Street. Of the 15 analysts who cover Edgewell, only three are bullish. One bull, RBC Capital Markets analyst Nik Modi noted in a February report that Edgewell could be acquired for 17 times Ebitda. On this year’s analyst estimates, that works out to about $110 a share. Colgate-Palmolive (CL) and Unilever, among others, have long been thought of as potential suitors.

Edgewell is a product of Energizer Holdings ’ (ENR) breakup in July 2015, when the battery business, now known as Energizer Holdings, split from the personal-products division. Edgewell’s shares have fallen nearly 30% since the breakup, as the initial excitement over a potential takeout has waned.

In the fiscal year ending in September, Edgewell could earn $215 million, or $3.77 a share, on $2.4 billion in revenue. In fiscal 2018, analysts look for an 8% increase in earnings per share, on 1% revenue growth.

P&G’s price cuts reflect recent changes in the shaving-products business. For years, Gillette was able to capitalize on its market share and raise prices. Its wide moat was attractive to Warren Buffett, whose Berkshire Hathaway (BRK.A) was a large shareholder before Gillette was sold to P&G in 2005.

In the past few years, P&G has been losing market share in men’s razors. Competitive pressures have been intense, as online shaving upstarts such as Dollar Shave Club and Harry’s have sprung up, offering a lower-priced product.

Yet the impact of the price cuts on Edgewell might not be so great. RBC’s Modi wrote in his February report that P&G’s razors and blades sell for a 25% premium to those of Edgewell. P&G also tends to be more promotional than Edgewell; in some cases, promotional prices are lower than the announced average 12% cut to the list price.

Modi estimates that only 15% of Edgewell’s sales have exposure to P&G’s price cuts.

For the December quarter, Edgewell reported market-share gains in its North American shaving business, which includes men’s and women’s products. Organic sales in the region rose 3.8% compared with a year ago. Internationally, the business was weaker. Overall, company sales declined 2% in the quarter.

Cost-cutting is on Edgewell’s agenda. The company could take out more than $100 million in costs in the next few years. That could be a driver of gains in earnings per share, even with tepid revenue growth.

Edgewell’s shaving business is underexposed to emerging markets, a big plus for a potential acquirer with scale in those regions. If the stock stays around recent levels or trades lower, a suitor could emerge sooner rather than later.

THIS COLUMN HAS WRITTEN positively about PICO Holdings (PICO) on a number of occasions in the past few years. PICO is a tiny conglomerate whose main assets are water rights in the Southwest and a 57% stake in home builder UCP (UCP). We last weighed in on the stock in early March, when the shares were trading for about $13.50.

They have shot up almost 20% since, to a recent $16.30. In April, UCP struck a deal to merge with home builder Century Communities (CCS) for $5.32 a share in cash and additional stock. Based on the recent price of Century’s shares, the deal is worth more than $11.50 a share.

It looks like a good one for PICO. It brings a sizable amount of cash in the door, and puts the focus of PICO’s business of monetizing its water rights. One holder, Kelly Cardwell of Central Square Management, estimates PICO’s net asset value at $21 to $27 a share.

The next move up for the stock could come if PICO were to sell any of its water rights. Cardwell notes that stock buybacks also could sharply lift his estimate for net asset value per share. With the cash coming in from the UCP deal, PICO shares could have plenty of upside ahead.

http://www.barrons.com/articles/edgewell-personal-care-could-attract-buyer-with-deep-pockets-1493438708

Edgewell Personal Care: Cheap Buyout Candidate (3/01/17)

Pressure is rising in the industry to accelerate growth. Edgewell, with its popular brands, could find a suitor.

By David Englander

Since it was separated out of Energizer in July 2015, shares of Edgewell Personal Care (ticker: EPC) have languished. The stock, at a recent $73.83, sits 20% below where it traded on the first day of its independence.

Business conditions have been difficult for Edgewell, as they have been for the entire consumer goods industry. Slow-growing markets and intense competition have weighed on results. That’s let some air out of the stock’s valuation.

On the weakness, the shares look attractive.

Edgewell has a top-notch personal care franchise in the shaving, sun-care, and feminine-care products businesses. Its brands, which include Schick, Skintimate, Hawaiian Tropic, and Playtex, are No. 1 and No. 2 in their markets, and barriers to entry are high.

Notably, in shaving, Edgewell’s Schick razor business is the only major competitor behind Procter & Gamble’s Gillette. Edgewell, too, is a bite-sized company (market cap: $4.2 billion) in a market that’s dominated by giants like Procter & Gamble and Unilever.

Its small size and stable of high-quality brands could garner Edgewell the interest of a suitor. While that’s been a possibility for some time, pressures in the industry to accelerate growth appear to be building and could lead to a step up in acquisition activity. A little over a week ago, Unilever spurned a $140 billion buyout offer from Kraft Heinz.

In a report out this month, RBC Capital Markets analyst Nik Modi puts a takeout value for Edgewell at $114 a share, more than 50% above the current share price.

That’s equal to 17 times this year’s estimated Ebitda (earnings before interest, taxes, depreciation and amortization), and in-line with past deals for scare, high-quality consumer goods assets, like the 2010 deal for SSL, the maker of Durex condoms, and the 2011 buyout for hair and skin products specialist, Alberto-Culver. Modi lists a number of prospective acquirers, including Unilever, Reckitt Benckiser, and Colgate-Palmolive.

What makes Edgewell particularly attractive is its lack of exposure in emerging markets. A multinational could use its scale and distribution network to grow the business. There’s also a margin opportunity. Edgewell’s margins in its shaving business are roughly 20% compared with P&G’s 30%.

Edgewell makes 60% of its $2.4 billion in revenue from razors and shaving cream, and 34% from sun-care and feminine products. Infant products, like diaper disposal systems and bottles, account for the remainder.

This fiscal year, ending in September, analysts expect Edgewell to earn $219 million or $3.82 a share. Earnings could rise 9% to $4.15 per share, on 1% sales growth in fiscal 2018.

Edgewell is investing in its brands and developing new products, and that has led to market share gains. Management has guided for low single-digit organic sales growth in fiscal 2017. A focus on cost-cutting has also been key to its strategy, and could boost operating margins.

Unilever has long been thought of as a possible suitor for Edgewell. Now that the Kraft deal is off, Unilever will likely need to prove to its shareholders that it can create value on its own. That could create some urgency to do its own deal of some kind.

Ultimately, whether the buyer is Unilever or someone else, we wouldn’t be surprised to see Edgewell acquired in the next two years.

http://www.barrons.com/articles/edgewell-personal-care-cheap-buyout-candidate-1488366000

EDGEWELL PERSONAL CARE COMPANY (EPC)
Last Trade [tick] 75.6500[+]
Volume 582,199
Net Change 1.8100
Net Change % 2.45%

This 5yr DCF imply Edgewell Personal Care $EPC is 35% undervalued w/ earnings expected Thursday:

DCF Analysis

Edgewell Personal Care Announces Fourth Quarter and Fiscal 2016 Results and Provides Fiscal Year 2017 Financial Outlook (11/10/16)

ST. LOUIS, Nov. 10, 2016 /PRNewswire/ -- Edgewell Personal Care Company (NYSE: EPC) today announced results for its full year and fourth fiscal quarter, which ended September 30, 2016.

Executive Summary

•Net sales increased 9.0% in the quarter and decreased 2.4% for the full year. Organic net sales increased 9.2% in the quarter and 1.4% for the full year. Excluding the estimated impact of international go-to-market changes, full year underlying net sales would have increased by 2.8%.

•Net earnings were $52.2 million for the quarter and $178.7 million for the full year. Adjusted EBITDA was $119.4 million for the quarter and $440.1 million for the full year.

•GAAP Diluted Earnings Per Share ("EPS") was $0.88 for the quarter and $2.99 for the full year. Adjusted EPS was $1.06 for the quarter and $3.57 for the full year.

•The Company provided its financial outlook for fiscal 2017 that is in line with its long term financial objectives.

The Company reports and forecasts results on a GAAP and "Non-GAAP" basis, and has reconciled Non-GAAP results and outlook to the most directly comparable GAAP measures later in this release. See "Non-GAAP Financial Measures" for a more detailed explanation, including definitions of various Non-GAAP terms used in this release.

All comparisons used in this release are with the same period in the prior fiscal year unless otherwise stated.

"We ended fiscal year 2016 with solid fourth quarter results, growing organic net sales in the quarter and the year, driven by growth in Wet Shave and Sun and Skin Care. We are pleased to have exceeded the sales, adjusted EPS, and operational objectives that we set for ourselves at the beginning of the year," said David Hatfield, Edgewell's President, Chief Executive Officer, and Chairman of the Board. "I want to thank all of our Edgewell colleagues around the world for that accomplishment and for their dedication and hard work during a very complex transition year." Mr. Hatfield continued, "We now move into the next phase for Edgewell, one where the strategy and the building blocks are in place to drive sustained performance on both the top and bottom line. We're excited about the organization we have in place, the products we have in the marketplace and the innovation in our pipeline. Although we recognize the tough competitive environment, we are confident that we can deliver results that are in line with the objectives of our long term financial algorithm in 2017."

Fiscal 4Q 2016 Operating Results (Unaudited)

Net sales were $610.6 million in the quarter, an increase of 9.0%. Organic net sales increased 9.2%, driven by growth in all four segments. North America net sales were up 8.4%, with growth across all segments. International (everything outside North America) net sales were up 14.2%, or 11.0% on an organic basis, driven by Wet Shave, with good performance in Asia, and Sun and Skin Care in Asia and Latin America.

Gross margin was $310.1 million, or 50.8% of net sales, representing a 270 basis point improvement over the prior year quarter. The gross margin increase was primarily due to high levels of promotional spending in the prior year quarter and lower material costs in the current year quarter, which was partly offset by higher start-up costs related to the Feminine Care production consolidation into the U.S. plant.

Advertising and sales promotion expense ("A&P") was $82.6 million, or 13.5% of net sales, down from prior year A&P of $95.7 million, or 17.1% of net sales. The majority of the decline was in the Wet Shave segment, as the prior year reflected higher expense related to Hydro Silk® in North America. A&P for the Sun and Skin Care segment was also down versus the year ago quarter.

Selling, general and administrative expense ("SG&A") was $107.8 million, or 17.7% of net sales, including $3.6 million of intangibles amortization, compared to $123.5 million, or 22.0% of net sales, in the prior year quarter. Excluding $30.1 million in prior year charges related to the spin-off of the Company's Household Products business in July 2015, SG&A as a percent of net sales increased 100 basis points over the prior year quarter. This increase was driven by higher spending in strategic growth projects, IT projects and other corporate costs, as well as increased compensation expense, including incentive compensation.

We incurred a $6.5 million non-cash asset intangibles impairment charge during the quarter in connection with our annual impairment testing.

The Company recorded pre-tax restructuring expense of $9.4 million ($1.7 million in Cost of goods sold and $7.7 million in Restructuring charges) compared to $6.3 million in the prior year quarter.

Other expense (income), net was an expense of $2.0 million during the quarter compared to income of $3.5 million in the prior year quarter. The change reflects the impact of foreign currency hedging contract losses, particularly related to the Japanese Yen, and revaluation losses on nonfunctional currency balance sheet exposures.

The effective tax rate for the year ended September 30, 2016 was 18.7% as compared to 35.4% in the prior year. The adjusted 2016 full year effective tax rate was 23.1% as compared to the prior year rate of 23.2%. The 2015 full year adjusted tax rate was favorably impacted by a large allocation of U.S. interest expense and corporate overheads associated with supporting the Company's former Household Products business that are not reported in discontinued operations. The 2016 full year adjusted tax rate includes a favorable mix of earnings in lower tax rate jurisdictions and positive adjustments to prior year tax accruals.

Net earnings in the quarter were $52.2 million, compared to a net loss of $219.5 million in the fourth quarter of fiscal 2015. The increase in net earnings was primarily related to the impact of an intangibles impairment charge and higher costs related to the spin-off in the prior year quarter, and to higher segment profit in the current year quarter. Fourth quarter Adjusted EBITDA was $119.4 million, an increase of $36.4 million versus fourth quarter 2015 Adjusted EBITDA of $83.0 million.

GAAP Diluted EPS was $0.88 in the quarter as compared to a loss of $3.57 in the prior year quarter. Adjusted EPS for the quarter was $1.06, compared to $0.64 in the prior year quarter.

Fiscal 4Q 2016 Operating Segment Results (Unaudited)

Wet Shave (Men's Systems, Women's Systems, Disposables, Shave Preps)

Wet Shave net sales increased $33.1 million, or 9.2%. Excluding the impact of currency movements, organic net sales increased $26.4 million, or 7.4%. North America drove the majority of the increase, due in large part to the high level of promotional spend in the prior year quarter related to coupons and trade spending. International growth was driven by Hydro® sales in Asia and Women's systems performance in EMEA. Wet Shave segment profit increased $38.2 million. On an organic basis, Wet Shave segment profit increased $30.9 million. The increase in profit was driven primarily by lower promotional spending, favorable costs, and lower A&P spend.

Sun and Skin Care (Sun Care, Wipes, Gloves)

Sun and Skin Care net sales increased $11.8 million, or 17.9%. Excluding the impact of currency movements, organic net sales increased $12.0 million, or 18.2%, driven by growth of Banana Boat® and Hawaiian Tropic® in both North America and International. Growth was driven by higher volumes due to category growth versus a year ago. Sun and Skin Care segment profit increased $9.6 million. Excluding the impact of currency movements, organic segment profit improved $9.7 million, driven by higher volumes, favorable price mix, lower product costs and reduced A&P spend.

Feminine Care (Tampons, Pads, Liners)

Feminine Care net sales increased $11.0 million, or 11.4%. Growth was largely driven by lower promotional spending, which more than offset lower volumes this quarter. Feminine Care segment profit decreased $1.1 million. The decrease was primarily due to start-up costs related to the production consolidation into the U.S. plant and slightly lower volumes, which offset the benefit from the lower promotional spend.

All Other (Infant Care, all other brands)

All Other net sales decreased $5.4 million, or 13.8%. Excluding the impact of currency movements and the sale of the Industrial blade business a year ago, organic net sales increased $2.1 million, or 5.3%, with growth in Diaper Genie®, slightly offset by lower volumes in infant cups and bottles. All Other segment profit increased $1.6 million.

Fiscal 2016 Operating Results (Unaudited)

Net sales were $2,362.0 million in fiscal 2016, a decrease of 2.4%. Organic net sales increased 1.4%, including an approximate $34.0 million, or 140 basis point, negative impact from international go-to-market changes. From a geographic perspective, North America organic net sales increased 1.7%, and International organic net sales increased 1.1%, or 5.0% on an underlying basis. From a segment perspective, organic net sales increased 1.8% for Wet Shave, and 4.6% for Sun and Skin Care. Organic net sales decreased 1.8% for Feminine Care and 1.2% for All Other.

Gross margin was $1,159.9 million, or 49.1% of net sales, representing a 20 basis point increase over the prior year, including a 10 basis point benefit from currency.

Net earnings in fiscal 2016 were $178.7 million, compared to a net loss of $275.3 million in fiscal 2015. The increase in earnings was primarily related to the prior year impact of an intangibles impairment charge, the Venezuela deconsolidation, and spin-related charges. Fiscal 2016 Adjusted EBITDA was $440.1 million versus fiscal 2015 Normalized EBITDA of $462.2 million. Year-over-year segment profit growth was more than offset by $7.0 million of unfavorable foreign currency, $11.6 million from the impact of Venezuela and Industrial, and $15 million in Other expense (income), net. The change in Other expense (income), net was driven by foreign currency hedging activity, which was in an income position in fiscal 2015 but changed to a loss position in fiscal 2016, in large part due to the strengthening of the Japanese Yen.

GAAP Diluted EPS was $2.99 in fiscal 2016 as compared to a loss of $4.44 in fiscal 2015. Adjusted EPS for the year was $3.57, compared to $2.80 in the prior year.

Net cash from operating activities was $176.4 million for fiscal 2016. During fiscal 2016, the Company made a discretionary contribution of $100.5 million to one of its international pension plans, and repurchased 2.5 million shares for $196.6 million.

Adjusted working capital as a percent of net sales was 16.1% at September 30, 2016, versus 17.5% as of September 30, 2015. The 140 basis point improvement was driven by improved days payable outstanding and days in inventory. Adjusted working capital continues to reflect a higher level of inventory in Feminine Care, which is expected to return to normal levels as the Company completes the consolidation of Feminine Care manufacturing in the U.S.

On October 20, 2016, the Company terminated its commitments under its Netherlands revolving credit facility and repaid all outstanding loans and other obligations in full, in the amount of approximately $277 million.

On November 1, 2016, the Company announced that it had acquired the outstanding shares of Bulldog Skincare Holdings Limited, a U.K. based men's grooming and skincare products company. The acquisition was financed through available foreign cash.

Full Fiscal Year 2017 Financial Outlook

For fiscal 2017, the Company estimates that net sales will increase by low single digits, with no impact from currency, based on current exchange rates (as of November 2, 2016), and an approximately 40 basis point benefit from the Bulldog acquisition.

The GAAP EPS outlook is estimated to be in the range of $3.60 - $3.80. Adjusted EPS is estimated to be in the range of $3.80 - $4.00. Adjusted operating income margin is anticipated to expand by at least 50 basis points. The impact from the acquisition of Bulldog is expected to be neutral to EPS in 2017. The effective tax rate for the fiscal year is estimated to be in the range of 27% to 28%.

The full-year estimate for restructuring related costs is $15 to $20 million for fiscal 2017. Incremental restructuring savings are expected to be approximately $20 to $25 million in fiscal 2017 and an additional $25 million in fiscal 2018.

The Company anticipates that fiscal 2017 Free Cash Flow will exceed 100% of net earnings.

As part of the Company's strategy to drive systematic cost reduction, the Zero Based Spend (ZBS) initiative was announced last quarter. Based on initial projections, ZBS is anticipated to drive $10 to $15 million in savings (net of implementation expense) in fiscal 2017, primarily in the second half of the year, and an additional $25 to $30 million in savings in fiscal 2018.

In fiscal 2017, we anticipate that sales and earnings growth will not be uniform by quarter, largely due to the timing of product launches and A&P phasing. In particular, fiscal first quarter net sales are anticipated to be flat and segment profit is anticipated to be lower than in the prior year quarter.

Webcast Information

In conjunction with this announcement, the Company will hold an investor conference call beginning at 10:00 a.m. Eastern Time today. The call will focus on fiscal 2016 fourth quarter earnings and the outlook for fiscal 2017. All interested parties may access a live webcast of this conference call at www.edgewell.com, under "Investors," and "News and Events" tabs or by using the following link:

http://ir.edgewell.com/news-and-events/events

For those unable to participate during the live webcast, a replay will be available on www.edgewell.com, under "Investors," "Financial Reports," and "Quarterly Earnings" tabs.

About Edgewell

Edgewell is a leading pure-play consumer products company with an attractive, diversified portfolio of established brand names such as Schick® and Wilkinson Sword® men's and women's shaving systems and disposable razors; Edge® and Skintimate® shave preparations; Playtex®, Stayfree®, Carefree® and o.b.® feminine care products; Banana Boat® and Hawaiian Tropic® sun care products; Playtex® infant feeding, Diaper Genie® and gloves; and Wet Ones® moist wipes. The Company has a broad global footprint and operates in more than 50 markets, including the U.S., Canada, Mexico, Germany, Japan and Australia, with approximately 6,000 employees worldwide.

http://www.prnewswire.com/news-releases/edgewell-personal-care-announces-fourth-quarter-and-fiscal-2016-results-and-provides-fiscal-year-2017-financial-outlook-300360379.html

Edgewell Personal Care Acquires Bulldog Skincare Holdings Limited (11/01/16)

ST. LOUIS, Nov. 1, 2016 /PRNewswire/ -- Edgewell Personal Care Company (NYSE: EPC) announced today that it has acquired Bulldog Skincare Holdings Limited, a U.K. based men's grooming and skincare products company. Terms of the transaction were not disclosed.

Founded in the U.K. in 2006, Bulldog offers male skincare products including moisturizers, face washes, scrubs, balms, shave gels and creams, body washes, lip balm and lotions. Bulldog's products are sold globally with distribution in over 17,000 locations. Its largest markets are in the U.K., U.S., Sweden and South Korea.

"As a challenger company in men's grooming, Edgewell has continuously pressed beyond category conventions and leaders, to bring unique innovation to market for the benefit of our customers, consumers, and Edgewell shareholders," said Colin Hutchison, Edgewell's Vice President of Commercial International. "Similarly, Bulldog has created an exciting and fast growing brand, by bringing that same challenger approach to men's skincare, providing differentiated products that focus on a simple straightforward message for men. Bulldog is a natural fit for Edgewell, and this acquisition creates opportunities to expand our personal care portfolio in a growing global category where we can leverage our large geographic footprint."

"We are delighted to be joining Edgewell's fantastic family of brands," said Simon Duffy, Bulldog's Founder. "We are excited about the future and in particular, getting our products to more people in more countries." Mr. Duffy continued, "Since our founding, our goal has been to put a Bulldog product in every bathroom and we are confident Edgewell will help us deliver on this mission."

Edgewell will discuss the acquisition in further detail on its earnings call scheduled for November 10, 2016. The transaction was funded from operating cash and will not have a material effect on fiscal 2017 expected financial results.

Dentons advised Edgewell on legal matters relating to the transaction.

Baylor Klein served as financial advisor and Addleshaw Goddard LLP as legal advisor to Bulldog Skincare Holdings Limited.

About Edgewell Personal Care

Edgewell is a leading pure-play consumer products company with an attractive, diversified portfolio of established brand names such as Schick® and Wilkinson Sword® men's and women's shaving systems and disposable razors; Edge® and Skintimate® shave preparations; Playtex®, Stayfree®, Carefree® and o.b.® feminine care products; Banana Boat® and Hawaiian Tropic® sun care products; Playtex® infant feeding, Diaper Genie® and gloves; and Wet Ones® moist wipes. The Company has a broad global footprint and operates in more than 50 markets, including the U.S., Canada, Mexico, Germany, Japan and Australia, with approximately 6,000 employees worldwide.

About Bulldog

Bulldog Skincare Holdings Limited makes award-winning skincare products that are purpose-built for men and enriched with amazing natural ingredients. Founded in 2006, the Company sells its products in 14 markets around the world including the U.K., U.S., Sweden and South Korea.

http://www.prnewswire.com/news-releases/edgewell-personal-care-acquires-bulldog-skincare-holdings-limited-300354296.html

Edgewell Personal Care Issues Statement Regarding Procter & Gamble Lawsuit (8/23/16)

ST. LOUIS, Aug. 23, 2016 /PRNewswire/ -- Edgewell Personal Care Company (NYSE: EPC) ("Edgewell") today issued the following statement in response to Procter & Gamble Company's (NYSE: PG) ("P&G") lawsuit regarding Edgewell's 3-bladed private label razors:

We believe P&G's allegations have no basis. Gillette's MACH3® patents have expired and we are confident in the quality and performance of our private label products. We will vigorously defend ourselves against these meritless claims and will continue to support our valued customers around the world.

About Edgewell
Edgewell is a leading pure-play consumer products company with an attractive, diversified portfolio of established brand names such as Schick® and Wilkinson Sword® men's and women's shaving systems and disposable razors; Edge® and Skintimate® shave preparations; Playtex®, Stayfree®, Carefree® and o.b.® feminine care products; Banana Boat® and Hawaiian Tropic® sun care products; Playtex® infant feeding, Diaper Genie® and gloves; and Wet Ones® moist wipes. The Company has a broad global footprint and operates in more than 50 markets, including the U.S., Canada, Mexico, Germany, Japan and Australia, with approximately 6,000 employees worldwide.

http://www.prnewswire.com/news-releases/edgewell-personal-care-issues-statement-regarding-procter--gamble-lawsuit-300317266.html

Edgewell Personal Care Could Have 40% Upside (5/07/16)

The consumer-products company could be acquired at a hefty stock premium —or prosper on its own.

By David Englander

Ever since Edgewell Personal Care spun off Energizer Holdings in July 2015, the prospect of an outright sale of Edgewell has warmed investors’ hearts.

Edgewell (ticker: EPC), a maker of well-known brands in shaving, sun care, and feminine and infant care, has an attractive franchise. Its small size (market value: $4.7 billion) in an industry dominated by giants like Procter & Gamble (PG) and Unilever (UN) also makes it a scarce and digestible asset for a larger player to acquire.

Investors hoping for a quick sale have been disappointed so far. About a week ago, Edgewell announced that its chairman, Ward Klein, will retire in July, fueling concerns that the business might not fetch a buyer anytime soon.

That said, Edgewell remains appealing. The stock is down about 20% since the spinoff, and has done almost nothing since this column penned a positive piece last fall (“Edgewell Personal Care Shares Look Cheap,” Sept. 26). Yet, even without a buyout, the shares could rally about 10% in the next year, propelled by earnings growth. They were trading on Thursday at $78.50.

In a report published last week, Jefferies analyst Kevin Grundy wrote that Klein’s resignation “signals that a potential sale of the company is less likely in the near term.” Grundy, who characterizes Edgewell as a “willing seller,” revised his stock-price target to $87 from $95, putting a lower probability on a sale.

In a deal, Grundy says, the stock could fetch as much as 17 times this fiscal year’s estimated earnings before interest, taxes, depreciation, and amortization, or about $110 a share.

Historically, scarce consumer-products assets have sold for high multiples. In 2011, Unilever paid 14 times Ebitda for Alberto-Culver, a maker of hair and skin-care products. The prior year, Reckitt-Benckiser Group (RB.UK) bought SSL, the maker of Durex condoms, for 18 times Ebitda.

Edgewell’s brands include Schick, Skintimate, Edge, Playtex, Hawaiian Tropic, and Wet Ones. Many of its businesses are market leaders, with high profit margins and stable cash flows. In shaving, Edgewell is No. 2 globally behind P&G’s Gillette. In sunscreen, it is No. 1 in the U.S.

In fiscal 2015, which ended in September, Edgewell generated $2.4 billion in revenue. Shaving products contributed 60%; sunscreen and feminine products, 33%; and the rest from infant products such as bottles and diaper-disposal systems.

KLEIN, CEO OF ENERGIZER from 2005 to 2015, was largely responsible for building Edgewell’s personal-care lineup through acquisitions when the Chesterfield, Mo.–based company was part of Energizer. Klein was also instrumental in breaking up Energizer into two companies. Edgewell’s sister company, Energizer Holdings (ENR), operates the battery part of the old business.

Edgewell CEO David Hatfield will take over the chairman position. On the earnings call last week, an analyst asked Hatfield if Klein’s retirement made it more or less likely that the company would be sold. “There’s no change in that regard,” the CEO replied. “I’m committed to delivering value to shareholders.”

One big opportunity for a potential acquirer lies in the shaving business, which is underexposed to emerging markets. In Brazil, for instance, the second-largest razor-and-blade market behind the U.S., Schick’s presence is small. Gillette has a market share of more than 80%.

If a big global player like Unilever or Colgate-Palmolive (CL) were to acquire Edgewell, it could drive growth by bringing scale and geographic reach to the business. Companywide, emerging markets account for only about 20% of sales.

EDGEWELL SHARES AREN’T inexpensive at 12.5 times enterprise value to 2017 estimated Ebitda. But the possibility of a buyout probably will keep a floor under the stock. Analysts expect the company to earn $203 million, or $3.39 a share, this year, on $2.3 billion in revenue. In 2017, they look for 9% earnings growth on flat sales.

Revenue growth has been hard to come by in the past few years. Heavy competition and slowly growing markets have weighed on the business. Management has bumped up its investment in key brands with the highest return potential in a bid to turn things around.

The company also has been rationalizing its distribution network and cutting costs. Edgewell generates about 90% of its sales in 20 markets. In its smaller markets, the company is transitioning to outside distribution from in-house capabilities. That has reduced sales but also lowered expenses.

For the full year, Edgewell has guided Wall Street to expect little change in sales, excluding the impact of currencies. That takes into account a projected 1.5% hit from the change in distribution. Still, the strategy could drive earnings growth, which could ramp up in coming years. Analysts estimate that Edgewell could earn just over $4 a share in fiscal 2018.

Just because the potential for an acquisition exists doesn’t mean a deal will happen. The stock market is full of companies that could be bought, but aren’t. Yet in Edgewell’s case, patience might stand a good chance of being rewarded.

http://www.barrons.com/articles/edgewell-personal-care-could-have-40-upside-1462593836

Edgewell Personal Care Announces Retirement Of Ward M. Klein As Executive Chairman In July 2016 (4/29/16)

President and Chief Executive Officer David P. Hatfield to Succeed Mr. Klein as Chairman of the Board of Directors

R. David Hoover to Continue Serving as Lead Independent Director

ST. LOUIS, April 29, 2016 /PRNewswire/ -- Edgewell Personal Care Company (NYSE: EPC) today announced that Ward M. Klein has informed the Board of Directors of his decision to retire as Executive Chairman and step down from the Board, effective July 6, 2016. The Edgewell Board appointed David P. Hatfield, Edgewell's President and Chief Executive Officer, to succeed Mr. Klein as Chairman of the Board. Mr. Hatfield will continue to serve as President and Chief Executive Officer. R. David Hoover, Lead Independent Director of the Edgewell Board, will continue in this role.

Mr. Klein's retirement follows 37 years of service to Edgewell and its predecessor company, Energizer Holdings Inc. Mr. Klein previously served as Chief Executive Officer of Energizer from 2005 through the successful separation of Edgewell and Energizer in July 2015. As Energizer's Chief Executive Officer, Mr. Klein grew the Company's sales from $2.9 billion in 2005 to $4.1 billion in 2015 and increased Total Shareholder Return (Stock price plus dividends) in excess of 10% per year during that time. Under Mr. Klein's leadership, Energizer implemented a number of value enhancing actions, including executing numerous acquisitions, undertaking a significant multi-year cost reduction initiative in 2012 and completing the separation of Energizer Holdings into two independent publicly-traded companies.

"I feel deeply privileged to have served at Energizer, and as Executive Chairman of Edgewell during its first year as an independent public company," said Mr. Klein. "Working closely with the talented management team and Board of Directors, we helped grow and transform Energizer into a leading consumer products company. We then successfully separated the two divisions into standalone global businesses all with the goal of creating significant value for our shareholders. Over the last year, I have supported David Hatfield and the Edgewell Board of Directors to position Edgewell as a strong, independent company, and now is the right time for me to retire. I am leaving Edgewell in capable hands with a deeply talented management team, under David's proven leadership. I know Edgewell will continue to thrive and create shareholder value and I remain committed to ensuring a smooth transition."

David P. Hatfield, Edgewell's President and Chief Executive Officer, said, "On behalf of everyone at Edgewell, we are grateful to Ward Klein for his astute leadership and counsel, his tireless efforts to grow Edgewell and Energizer, and his countless contributions to both companies. Ward was a driving force behind the growth of the Personal Care business during his tenure as Energizer's CEO and positioning Edgewell on its positive trajectory as a standalone public company this past year. I am honored the Edgewell Board chose me to succeed Ward as Chairman and I will continue to work closely with my fellow directors and outstanding management team as we execute Edgewell's strategy for future growth and value creation."

About Ward M. Klein
Mr. Klein served Edgewell and Energizer for more than 30 years — in both international and domestic leadership positions. Mr. Klein was appointed Chief Executive Officer, Energizer Holdings, Inc. in 2005. Prior to that time, he served as Energizer's President and Chief Operating Officer, as President, International, and as Area Chairman, Asia Pacific and Latin America. He also is lead independent director of Caleres, Inc. and former President and Chairman of Civic Progress St. Louis. Mr. Klein is formerly a director of AmerUs Group Co. and served as Chairman of the Board of the Federal Reserve Bank of St. Louis.

About Edgewell Personal Care
Edgewell is a leading pure-play consumer products company with an attractive, diversified portfolio of established brand names such as Schick(R) and Wilkinson Sword(R) men's and women's shaving systems and disposable razors; Edge(R) and Skintimate(R) shave preparations; Playtex(R), Stayfree(R), Carefree(R) and o.b.(R) feminine care products; Banana Boat(R) and Hawaiian Tropic(R) sun care products; Playtex(R) infant feeding, Diaper Genie(R) and gloves; and Wet Ones(R) moist wipes. The Company has a broad global footprint and operates in more than 50 markets, including the U.S., Canada, Mexico, Germany, Japan and Australia, with 6,000 employees worldwide.

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Edgewell Personal Care Company Announces Second Quarter Fiscal 2016 Results and Updates Fiscal Year 2016 Outlook (4/29/16)

ST. LOUIS, April 29, 2016 /PRNewswire/ -- Edgewell Personal Care Company (NYSE: EPC) today announced results for its second fiscal quarter, which ended March 31, 2016.

Executive Summary

• Organic net sales decreased 0.7% in the quarter and 0.1% year-to-date. Excluding the impact of international go-to-market changes, sales would have increased by 1% and 1.9%, respectively.

• Adjusted EBITDA was $137.7 million for the quarter and $232.1 million year-to-date.

• GAAP Diluted Earnings Per Share ("EPS") was $1.10 for the quarter and $1.49 year-to-date. Adjusted EPS was $1.17 for the quarter and $1.85 year-to-date.

• The Company has updated its fiscal 2016 outlook, projecting relatively flat organic net sales, Adjusted EPS of $3.30-$3.50 and $440-$460 million in Adjusted EBITDA.

The Company reports results on a GAAP and "Non-GAAP" basis, and has reconciled Non-GAAP results to the most directly comparable GAAP measures later in this release. See "Non-GAAP Financial Measures" below, for a more detailed explanation, including definitions of various terms used in this release such as "Adjusted EBITDA", "Normalized EBITDA", "Organic net sales", "Organic segment profit" and "go-to-market impacts."

All comparisons used in this release are with the same period in the prior fiscal year unless otherwise stated.

"Our second quarter results were in line with our expectations, and we are pleased with the progress we're making in this important first year operating as a standalone company. Our underlying top-line growth was up nearly 2% through the first half of our fiscal year, excluding the impact of international go-to-market changes," said David Hatfield, Edgewell's President and Chief Executive Officer. "Delivering solid underlying net sales growth driven by Wet Shave and Sun and Skin Care, while executing on key initiatives, like our complex international go-to-market strategy, reinforces our view that Edgewell's innovation and products are resonating in the marketplace and that we're taking the necessary steps to further enhance our position for future growth and value creation."

Fiscal 2Q 2016 Operating Results (Unaudited)

Net sales were $611.2 million in the quarter, a decrease of 6.1%. Organic net sales decreased 0.7%, including a $10.9 million, or 170 basis point, negative impact from international go-to-market changes. Organic net sales growth in Wet Shave and Sun and Skin Care was offset in part by lower sales in Feminine Care. North America net sales were down 0.8%, though Wet Shave and Sun and Skin care both grew. International net sales were down 0.3%, though up 4.5% excluding the negative impact of international go-to-market changes. Underlying international net sales grew across the Wet Shave portfolio, with particular strength in Men's systems, driven by strong Hydro® performance in Asia and Europe.

Gross margin was $311.1 million or 50.9% of net sales, representing a 40 basis point decrease over the prior year. Excluding the negative impact of currency, gross margin was flat versus the prior year quarter, with higher volumes and productivity savings offset by unfavorable price mix in North America.

Advertising and sales promotion expense ("A&P") was $85.0 million, or 13.9% of net sales, up from prior year A&P of $78.4 million, or 12.0% of net sales. This quarter, higher A&P investments were focused on new product innovation, primarily supporting men's Hydro® in North America.

Selling, general and administrative expense ("SG&A") was $99.7 million, or 16.3% of net sales, compared to $149.2 million, or 22.9% of net sales, in the prior year. Included within the current quarter results were pre-tax costs of $1.7 million related to the spin-off of the Company's Household Products business in July 2015 (the "Separation"). Excluding these spin-off costs, SG&A as a percent of net sales was 16.0%, including amortization of intangible assets not allocated to the segments. Historical SG&A results on a continuing operations basis include certain costs associated with supporting the Household Products business that were not eligible to be reported in discontinued operations. Adjusting the prior year for these expenses, SG&A increased an estimated 40 basis points as a percent of net sales.

Other income, net was $4.6 million during the second quarter compared to $1.3 million in the prior year. The increase is partially related to $2.6 million of interest income recorded in relation to settlements with tax authorities. The increase also reflects the net impact of foreign currency hedging contract gains and losses.

Second quarter Adjusted EBITDA was $137.7 million versus second quarter 2015 Normalized EBITDA of $162.0 million, down $24.3 million. The primary drivers of the decrease were $13.9 million of lower operating profit due to international go-to-market changes, higher A&P spend, a $4.9 million unfavorable impact from currency and $6.4 million due to the inclusion of Venezuela operations and the Industrial blade business in the prior year.

The effective tax rate for the first half of 2016 was 26.4% as compared to (35.0)% in the prior year. The negative tax rate for 2015 was a result of having incurred tax expense on a net loss, driven primarily by the $79.3 million Venezuela deconsolidation charge, which had no accompanying tax benefit. Excluding the impact of the Separation, restructuring and the Venezuela deconsolidation charge, the adjusted 2016 year-to-date effective tax rate was 28.1%, a 40 basis point increase over the prior year rate of 27.7%.

Second quarter Adjusted EPS was $1.17, compared to $1.12 in the prior year quarter. GAAP EPS was $1.10 in the second quarter as compared to $(0.88) in the prior year quarter.

Other Items

The second quarter included $1.7 million of pre-tax spin charges compared to $32.2 million in the same period of the prior year. In addition, the Company recorded pre-tax expense of $5.1 million in the second quarter related to its 2013 restructuring, as compared to $6.6 million in the prior year.

Average (trailing 4 quarter) working capital as a percent of sales was 16.5% at March 31, 2016, versus 17.5% as of September 30, 2015. The 100 basis point improvement was driven by Days Payable Outstanding. Working Capital continues to reflect a higher level of inventory in Feminine Care which is expected to return to normal levels as the Company completes the transition of manufacturing from its Montreal plant to its Dover plant.

Net cash used by operating activities was $72.6 million for the six months ended March 31, 2016. During the second quarter, the Company made a discretionary contribution of $100.5 million to one of its international pension plans, which negatively impacted operating cash flow for the current period. The Company expects to have positive operating cash flow for the full 2016 fiscal year. In the first six months of fiscal 2016, the Company completed share repurchases of nearly 1 million shares for $79 million.

Fiscal 2Q 2016 Operating Segment Results (Unaudited)

Wet Shave (Men's Systems, Women's Systems, Disposables, Shave Preps)

Wet Shave organic net sales increased $1.5 million, or 0.4%. Excluding an estimated $9 million negative impact from international go-to-market changes, underlying net sales would have grown 2.7%. Underlying growth was primarily driven by the Hydro® launch globally as well as Hydro® distribution gains in North America. Organic net sales for the remaining brands declined, in part due to international go-to-market changes and unfavorable price mix from promotional investments. International underlying sales increased in Men's and Women's systems, Disposables, and Shave Preps. Organic segment profit declined $13.2 million, or 13.2%, driven primarily by increased investments in A&P, promotional spend and Research and development expense, which more than offset higher sales volumes and better cost mix.

Sun and Skin Care (Sun Care, Wipes, Gloves)

Sun and Skin Care organic net sales increased $4.9 million, or 3.8%, driven primarily by growth in North America, with growth across both the Banana Boat® and Hawaiian Tropic® brands. Organic segment profit improved $2.8 million or 7.5%, driven by higher sales volumes and modestly better cost mix.

Feminine Care (Tampons, Pads, Liners)

Feminine Care organic net sales decreased $9.3 million, or 9.2%. North America net sales declined driven primarily by unfavorable comparisons to the prior year pipeline build for the new Sport® Pads and Liners offerings and lower net sales in Stayfree®. International sales were down primarily due to international go-to-market changes. Organic segment profit was down $9.5 million, or 45.5%, driven by lower net sales and unfavorable cost mix due to transactional currency impacts.

All Other (Infant Care, all other brands)

All Other organic net sales decreased $1.6 million, or 3.4%, as continued growth in Diaper Genie® was more than offset by lower sales volumes in infant cups and bottles resulting from continued competition in the category. Organic segment profit grew $1.7 million driven by higher gross margin from favorable product costs and lower A&P spending.

Full Fiscal Year 2016 Financial Outlook

Organic net sales are expected to be flat, including the negative impact of international go-to-market changes through the end of the third quarter of fiscal 2016. For the full year, the go-to-market changes are estimated to impact top line growth by approximately 1.5%. As a result, underlying net sales growth, excluding these go-to-market changes, is expected to increase by low single digits. Organic net sales excludes unfavorable currency impact on net sales, which is now expected to be in the range of $25-$35 million (previously, $50-$60 million) for the full fiscal year. Reported net sales are now expected to decrease by 2%-4% (previously, decreased by mid-single digits).

Adjusted EBITDA is projected to be in the range of $440-$460 million, including $10-$15 million (previously, $20-$25 million) of negative currency impact for the full fiscal year.

Adjusted EPS is now projected to be in the range of $3.30-$3.50 (previously, $3.20-$3.40).

Adjusted Effective Tax Rate for the fiscal year is now expected to be in the range of 29%-31% (previously, 30%-32%).

Other Items: The full-year estimate for spin costs is unchanged at $10-$12 million, with the majority of the costs already incurred. The full-year estimate for restructuring related costs remains unchanged at $40-$45 million. Incremental restructuring savings are expected to be approximately $15 million in fiscal 2016 and an additional $40-$50 million in fiscal 2017 and 2018 combined.

Webcast Information

In conjunction with this announcement, the Company will hold an investor conference call beginning at 10:00 a.m. Eastern Time today. The call will focus on fiscal 2016 second quarter earnings and the outlook for fiscal 2016. All interested parties may access a live webcast of this conference call at www.edgewell.com, under "Investors," and "News and Events" tabs or by using the following link:

http://ir.edgewell.com/news-and-events/events

For those unable to participate during the live webcast, a replay will be available on www.edgewell.com, under "Investors," "Financial Reports," and "Quarterly Earnings" tabs.

About Edgewell

Edgewell is a leading pure-play consumer products company with an attractive, diversified portfolio of established brand names such as Schick® and Wilkinson Sword® men's and women's shaving systems and disposable razors; Edge® and Skintimate® shave preparations; Playtex®, Stayfree®, Carefree® and o.b.® feminine care products; Banana Boat® and Hawaiian Tropic® sun care products; Playtex® infant feeding, Diaper Genie® and gloves; and Wet Ones® moist wipes. The Company has a broad global footprint and operates in more than 50 markets, including the U.S., Canada, Mexico, Germany, Japan and Australia, with approximately 6,000 employees worldwide.

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AccuTec Blades, Inc. Announces Acquisition of Industrial Blades Division from Edgewell Personal Care Company (9/01/15)

VERONA, Va., Sept. 1, 2015 /PRNewswire/ -- AccuTec Blades, Inc. today announced the acquisition of Edgewell Personal Care Company's (EPC) Industrial Blades division. EPC announced in May 2015 its intent to discontinue its industrial blade operations in Verona, Virginia and Obregon, Mexico. Today's announcement marks the completion of the sale process.

Rick Gagliano, the newly-appointed President and Chief Executive Officer of AccuTec Blades said, "Our new name, AccuTec Blades, reflects the precision and accuracy of the products we develop, and underscores our long-legacy of quality and technical excellence."

Bob Senesac, Director of Marketing, AccuTec Blades said, "We are very happy to be able to continue to use the Personna®, GEM by Personna® and American Line® brands, as these names are well-known in the Specialty, Medical and Professional industries. We look forward to continuing to promote these brands in the various markets we serve."

"Our commitment to great service, fast lead times and providing innovative products to our customers is stronger than ever. It is our goal to exceed our customers' expectations in terms of quality, responsiveness and service," said Sheila Henry, Director of Supply Chain, AccuTec Blades. "We expect a smooth transition and are committed to continue delivering timely shipments to all of our customers. We are working closely with our vendors to ensure strong, ongoing business partnerships that are mutually-beneficial."

EPC acquired the Industrial Blades division in a deal with American Safety Razor in 2011. EPC will be retaining the Personna® brand and will continue to market wet shaving products under this name, only divesting the Industrial Blades business in this sale.

For more information, please contact Bob Senesac, Director of Marketing at AccuTec Blades, Inc. at bob.senesac@atblades.com, or call 540-248-1683.

About AccuTec Blades

AccuTec Blades, Inc. manufactures a wide variety of Specialty, Medical and Professional blades for use in categories including Histology, Food Processing, Fiberglass Manufacturing, Catheter Manufacturing, Dermatology, Medical, Glass Processing, Flooring Installation and DIY blades and tools found in many retail channels. Manufacturing locations include Verona, VA and Obregon, Mexico. Visit AccuTec Blades, Inc. at http://www.atblades.com

Contact: Bob Senesac
Tel: (540) 248-1683
Email: bob.senesac@atblades.com
Website: www.atblades.com
AccuTec Blades, Inc.: Verona, VA

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Mario Gabelli: 4 New Stock Picks (7/03/15)

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Edgewell Personal Care Begins Operating as an Independent, Publicly Traded Company (7/01/15)

Energizer Holdings Inc. Completes Spin-off of its Household Products Division and Changes Name to Edgewell Personal Care Company

ST. LOUIS, July 1, 2015 /PRNewswire/ -- Edgewell Personal Care Company (NYSE: EPC)("Edgewell") today announced it has begun operating as a standalone business following the completion of the previously announced separation of Energizer's Household Products and Personal Care businesses. Starting today, July 1, 2015, Edgewell will begin "regular-way" trading on the New York Stock Exchange ("NYSE") under the ticker symbol "EPC."

"This is a historic day for Edgewell. The completion of the separation provides us with the opportunity to focus on our core strengths across all business units," said David Hatfield, Chief Executive Officer, Edgewell. "We are excited about Edgewell's prospects, as we leverage our strong brands and build upon leading positions across various categories. As a company now solely dedicated to Personal Care, we will focus on accelerating top line growth, and increasing our emphasis on insight, innovation, and agility. Backed by our experienced and passionate Edgewell colleagues, I am confident that we will position our business for long-term success, and continue to deliver enhanced value for shareholders."

Edgewell is a leading pure-play consumer products company with an attractive, diversified portfolio of established brand names such as Schick® and Wilkinson Sword® men's and women's shaving systems and disposable razors in wet shave; Edge® and Skintimate® shave preparations; Playtex®, Stayfree®, Carefree® and o.b.® feminine care products; Banana Boat® and Hawaiian Tropic® sun care products; Playtex® infant feeding, Diaper Genie® and gloves; and Wet Ones® moist wipes. The Company has a broad global footprint and operates in more than 50 markets, including the U.S., Canada, Mexico, Germany, Japan and Australia, with 6,000 employees worldwide.

Under the terms of the spin-off of the Household Products business, Edgewell common stockholders of record as of the close of business on June 16, 2015, the record date for the distribution, received one share in Energizer Holdings, Inc. ("Energizer"), the new Household Products company, for each share of Edgewell common stock. Edgewell completed the distribution of Energizer common stock to its shareholders today, July 1, 2015, the distribution date. The distribution of Energizer shares was made in book-entry form and no action or payment by Edgewell shareholders was required to receive Energizer shares. No physical share certificates of Energizer were issued.

In connection with the listing of its shares of common stock on the NYSE, members of Edgewell's management team will ring the Closing Bell at 4:00 p.m. ET tomorrow at the NYSE to celebrate the commencement of trading.

About Edgewell Personal Care

Edgewell Personal Care manufactures and markets a diversified range of personal care products in the wet shave, skin care, feminine care and infant care categories with well-established brand names such as Schick® and Wilkinson Sword® men's and women's shaving systems and disposable razors; Edge® and Skintimate® shave preparations; Playtex®, Stayfree®, Carefree® and o.b.® feminine care products; Banana Boat® and Hawaiian Tropic® sun care products; Playtex® infant feeding, Diaper Genie® and gloves; and Wet Ones® moist wipes.

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