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Edgewell Personal Care Company (EPC+1.97%) has submitted its 10-Q filing for the quarterly period ended December 31, 2024.
The filing includes financial statements for the quarter, showing net sales of $478.4 million, a decrease of 2.1% from $488.9 million in the same quarter the previous year. The decrease was attributed to declines in North American sales and unfavorable currency impacts.
The company reported a net loss of $2.1 million for the quarter, compared to net earnings of $4.8 million in the previous year. This resulted in a basic and diluted net loss per share of $0.04, compared to earnings per share of $0.09 in the prior year.
Gross profit for the quarter was $191.6 million, down from $197.7 million in the previous year. The gross margin decreased slightly due to increased promotional levels and unfavorable currency impacts.
Selling, general, and administrative expenses were $102.9 million, representing 21.5% of net sales, compared to 21.1% in the prior year. The increase was primarily driven by higher people and consulting expenses.
The company incurred restructuring charges of $4.2 million related to efforts to strengthen its operating model and improve efficiency, down from $6.8 million in the previous year.
Interest expense associated with debt decreased to $18.8 million from $19.8 million, reflecting a lower overall debt balance.
Edgewell's effective tax rate for the quarter was (21.7)%, compared to 20.1% in the previous year, influenced by an unfavorable mix of earnings in higher tax rate jurisdictions.
Cash used for operating activities was $115.6 million, compared to $72.9 million in the previous year, driven by changes in net working capital and lower earnings.
The company repurchased 0.8 million shares of its common stock for $30.3 million during the quarter, with 2.2 million shares remaining under the 2018 Share Repurchase Plan.
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 quarterly 10-Q report dated February 10, 2025. To report an error, please email earnings@qz.com.