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Edgewell Personal Care Company (EPC-1.21%) has submitted its 10-K filing for the fiscal year ended September 30, 2024.
The filing includes financial statements for the year, showing net sales of $2,253.7 million, a slight increase from $2,251.6 million in the previous year. The increase is attributed to growth in international markets, offset by a decline in North America sales.
Gross profit for the year was $955.7 million, up from $940.8 million in the previous year, with a gross margin of 42.4% compared to 41.8% last year. Adjusted gross margin increased due to productivity savings and favorable pricing.
Operating income decreased to $199.3 million from $227.0 million, primarily due to higher selling, general, and administrative expenses.
The company reported net earnings of $98.6 million, down from $114.7 million in the previous year. Diluted earnings per share were $1.97 compared to $2.21 last year.
Edgewell incurred $36.0 million in restructuring charges related to streamlining operations, including a consolidation of its Mexico facilities.
Interest expense associated with debt was $76.5 million, a decrease from $78.5 million in the previous year, due to a lower overall debt balance.
The company had cash of $209.1 million as of September 30, 2024, with total borrowings of $1,308.5 million, including $1,250.0 million in fixed-rate long-term notes.
Edgewell's business segments include Wet Shave, Sun and Skin Care, and Feminine Care. Wet Shave net sales were $1,229.3 million, Sun and Skin Care sales were $740.8 million, and Feminine Care sales were $283.6 million.
The company continues to focus on its sustainability goals, including reducing virgin petroleum-based plastic content and achieving carbon neutrality across its operations by 2030.
Edgewell's board declared a quarterly cash dividend of $0.15 per common share, payable on January 8, 2025, to shareholders of record as of December 3, 2024.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Edgewell Personal Care Company annual 10-K report dated November 14, 2024. To report an error, please email earnings@qz.com.