Helen of Troy Limited (HELE) announced a decrease in profit for the second quarter, largely due to a dip in sales within the Beauty & Wellness segment. Despite this downturn, the consumer products company exceeded analysts' expectations for both profit and revenue. Additionally, Helen of Troy reaffirmed its yearly projection, leading to a more than 14 percent rise in its shares during pre-market trading.
The company reported a net income of $17.01 million, or $0.74 per share for the quarter, compared to $27.38 million, or $1.14 per share, in the same period the previous year.
When excluding one-off items, the earnings stood at $14.2 million or $1.21 per share, surpassing analysts' average forecast of $1.05 per share. Analysts typically do not factor in special items in their predictions.
Operating income saw a decrease, falling to $34.85 million from $46.85 million the prior year.
Revenue for the quarter fell by 3.5 percent, totaling $474.22 million compared to $491.56 million from the year before. This still exceeded the expected consensus of $458.24 million.
For the annual outlook, Helen of Troy maintains its forecast for sales revenue to range between $1.885 billion and $1.935 billion.
Earnings per share (EPS) for the year are anticipated to be between $4.69 and $5.45, with adjusted EPS expected to be within the $7.00 to $7.50 range.
Analysts project the company will post earnings of $7.10 per share on a revenue of $1.9 billion for the year.
Helen of Troy's stock concluded at $62.37, a rise of 0.76 percent as of Tuesday. Over the past year, its shares have fluctuated between $48.05 and $127.83.