Edgewell Personal Care tops earnings estimates despite pandemic challenges

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Consumer products company Edgewell Personal Care Co. posted stronger-than-expected earnings for its fiscal fourth quarter, despite the challenges created by the coronavirus pandemic. The parent of Schick and Wilkinson Sword shaving brands said it had net income of $21.0 million, or 38 cents a share, in the quarter to Sept. 30, down from $40.7 million, or 75 cents a share, in the year-earlier period. Adjusted per-share earnings came to 59 cents, ahead of the 57 cents FactSet consensus. Sales fell to $488.8 million from $528 million, also ahead of the $466.0 million FactSet consensus. “North American Wet Shave and Sun Care, and continued expansion of our Wet Ones brand, were all areas of strength,” Chief Executive Rod Little said in a statement. The company expects its Project Fuel savings program to generate $265 million to $275 million in total annual gross savings by the end of the fiscal 2021 year. It expects to book one-time, pretax charges of about $160 million to $165 million in the same period. For fiscal 2020, Edgewell expects sales to grow in the mid-single digits and EPS to range from $2.18 to $2.38. Shares were not active premarket, but have gained 5.6% in the year to date, while the S&P 500 has gained 10.6%.
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