Edgewell Personal Care has announced its Q2 2022 results that showed net sales were $547.7 million, an increase of 5.5% compared to the previous year.
Organic net sales increased 2.1%, compared to the previous year.
Gross profit was $230.1 million, compared to $241.7 million in the previous year.
Six month results ending March 31, 2022, showed net sales were $1,011.0 million million, compared to $970.0 million in the previous year.
Wet Shave Segment
Net sales were $305.0 million, compared to $292.7 million in the previous year.
Organic net sales decreased $6.1 million, or 2.1%.
Wet Shave segment profit was $27.6 million, compared to $45.9 million in the previous year.
Sun and Skin Care Segment
Net sales were $183.3 million, compared to $159.5 million in the previous year.
Organic net sales increased $24.8 million, or 15.5%, primarily driven by sun care growth in excess of 28%.
Grooming grew 5.7%, primarily in North America.
Sun and skin care profit was $42.3 million, compared to $36.2 million in the previous year.
2022 Outlook
Reported net sales are expected to increase mid-single digits in fiscal 2022.
Rod Little, Edgewell's president and CEO said, "In Q2, we delivered another quarter of solid growth reflecting strong demand for our products, continued market share gains and improving trends across many key brands, despite a higher-than-expected inflationary environment and significant supply chain disruptions. Looking ahead, we believe the supply chain disruptions are largely behind us, as evidenced by signs of a normalization within our product flow and an improvement of our on-shelf position; however, we expect increased commodity and transportation-related cost headwinds to persist, which is reflected in our revised outlook. Encouragingly, our results demonstrate the continued progress we are making in executing against our strategic priorities to transform Edgewell amidst a dynamic operating environment, while also maintaining our returns-focused investment stance—returning to shareholders over $59 million in the quarter."
