Edgewell preliminary FY2026 cash flow falls to $49.6M
Fiscal 2027 guidance calls for organic sales growth of approximately 1.0% to 3.0% and adjusted EPS of $1.85 to $2.15.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Form Type
8-K
Rhea-AI Filing Summary
Edgewell Personal Care Company (EPC) reported fourth-quarter fiscal 2026 sales of $484.1 million, up 3.0%; organic sales rose 3.1%. Adjusted EPS was $0.78 versus $0.52 a year earlier, while GAAP diluted EPS from continuing operations was $0.23 versus $0.26. For fiscal 2026, sales were $1,996.5 million, up 1.8%, and organic sales rose 0.3%. Adjusted EPS was $1.93 versus $1.81; GAAP results were a $2.2 million continuing-operations loss versus $44.3 million of earnings.
Fiscal-year adjusted EBITDA was $254.5 million versus $239.7 million. Net cash provided by operating activities, including continuing and discontinued operations, was $49.6 million versus $118.4 million; Edgewell attributed the decrease largely to one-time Feminine Care divestiture-related tax, working-capital and deal-related fees and expenses. The company declared a $0.15 per-share dividend, payable January 7, 2027.
For fiscal 2027, Edgewell expects organic sales growth of approximately 1.0%–3.0%, adjusted EPS of $1.85–$2.15 and adjusted EBITDA of $250–$270 million. It expects approximately $55 million of pretax restructuring and related charges. Results are preliminary pending year-end accounting procedures and audit.
1 point · 0 major0 major · 2 points
How this balance works
Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.
It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.
Rhea-AI Sentiment measures something else, the tone of the wording.
Positive
- Moderate pointFiscal 2026 adjusted EPS rose 6.6% to $1.93.
Negative
- Moderate pointConsolidated operating cash flow fell to $49.6 million, from $118.4 million.
- Moderate pointGAAP continuing-operations result: $2.2 million loss, versus $44.3 million income.
Filing Explained
At September 30, 2026, cash was 375.6 million dollars, and 85 million dollars remained available for future repurchases.
Alongside its fiscal 2026 results, Edgewell reports that at
The company defines net debt as gross debt less cash and cash equivalents, and reports an adjusted net debt leverage ratio of 3.4x at the end of the fourth quarter.
8-K Event Classification
2 items: 2.02, 9.01
2 items
Item 2.02
Results of Operations and Financial Condition
Financial
Disclosure of earnings results, typically an earnings press release or preliminary financials.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, or exhibit attachments filed with this report.
Key Figures
Fourth-quarter net sales: $484.1 million
Fiscal-year net sales: $1,996.5 million
Fourth-quarter adjusted EPS: $0.78 per share
+5 more
8 metrics
Fourth-quarter net sales
$484.1 million
Fiscal 2026 fourth quarter; up 3.0% year over year
Fiscal-year net sales
$1,996.5 million
Fiscal 2026; up 1.8% year over year
Fourth-quarter adjusted EPS
$0.78 per share
Fiscal 2026 fourth quarter; compared with $0.52 a year earlier
Fiscal-year adjusted EPS
$1.93 per share
Fiscal 2026; up 6.6% from $1.81 in fiscal 2025
GAAP net loss from continuing operations
$2.2 million loss
Fiscal 2026; compared with $44.3 million income in fiscal 2025
Net cash provided by operating activities
$49.6 million
Fiscal year ended September 30, 2026; consolidated continuing and discontinued operations
Adjusted EBITDA
$254.5 million
Fiscal 2026; compared with $239.7 million in fiscal 2025
Cash and cash equivalents
$375.6 million
As of September 30, 2026
Key Terms
Organic net sales, Adjusted EBITDA, Adjusted net debt leverage ratio, Transition Services Agreement, +1 more
5 terms
Organic net sales financial
"Organic net sales increased 3.1% for the quarter"
Organic net sales represent the revenue generated from a company's core business activities, excluding the effects of acquisitions, divestments, or currency changes. It shows how well the company is growing through its existing products and services, similar to tracking how a plant grows from its own roots rather than by adding new plants. Investors use this measure to assess the true growth and health of a company's ongoing operations.
Adjusted EBITDA financial
"Adjusted EBITDA was $254.5 million"
Adjusted EBITDA is a way companies measure how much money they make from their core operations, like running a business, by removing certain costs or income that aren’t part of regular business activities. It helps investors see how well a company is doing without distractions from unusual expenses or gains, making it easier to compare companies or track performance over time.
Adjusted net debt leverage ratio financial
"Adjusted net debt leverage ratio at the end of the fourth quarter was 3.4x"
Transition Services Agreement financial
"The current year included $21.5 million of Transition Services Agreement income"
A transition services agreement is a formal arrangement where one company continues to provide essential services—such as IT, human resources, or accounting—to another company after a business deal or change in ownership. It acts like a temporary bridge, ensuring smooth operations during a transition period. For investors, it provides clarity on how long support will last and helps assess potential costs and stability during the change.
Discontinued operations financial
"the Feminine Care segment are presented as discontinued operations"
Discontinued operations are parts of a company that it has decided to sell or shut down, and no longer plans to run in the future. This matters to investors because it helps them understand which parts of the business are ongoing and which are being phased out, providing a clearer picture of the company’s current performance and future prospects. Think of it like a store closing a department—it no longer contributes to sales or profits.
Earnings Snapshot
Fourth-quarter net sales: $484.1 million · Guidance included
Fourth quarter and fiscal year ended September 30, 2026
Fourth-quarter net sales
$484.1 million
Up 3.0% year over year
Fiscal-year net sales
$1,996.5 million
Up 1.8% year over year
Fourth-quarter adjusted EPS
$0.78 per share
Up 50.0% from $0.52
Fiscal-year adjusted EPS
$1.93 per share
Up 6.6% from $1.81
Fiscal-year GAAP diluted EPS from continuing operations
$(0.05) per share
Compared with $0.93 per share in fiscal 2025
Guidance
Fiscal 2027 reported net sales are expected to increase approximately 0.4%–2.4%; organic net sales approximately 1.0%–3.0%; adjusted EPS $1.85–$2.15; and adjusted EBITDA $250 million–$270 million.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What were EPC's fourth-quarter fiscal 2026 sales and EPS?
EPC reported fourth-quarter net sales of $484.1 million, up 3.0%, and organic net sales rose 3.1%. GAAP diluted EPS from continuing operations was $0.23, compared with $0.26 a year earlier; adjusted EPS was $0.78, compared with $0.52.
What is EPC's fiscal 2027 outlook?
Edgewell expects fiscal 2027 reported net sales to increase approximately 0.4%–2.4%, including an estimated 60-basis-point negative foreign-currency impact, and organic net sales to rise approximately 1.0%–3.0%. Adjusted EPS is projected at $1.85–$2.15 and adjusted EBITDA at $250 million–$270 million.
When will EPC pay its $0.15 dividend?
Edgewell declared a cash dividend of $0.15 per common share for the fourth quarter of fiscal 2026. It is payable January 7, 2027, to shareholders of record at the close of business on December 3, 2026.
AI-generated analysis. How Rhea-AI works. Not financial advice.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
______________________
FORM 8-K
______________________
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of report (Date of earliest event reported): November 12, 2026
(Exact name of registrant as specified in its charter)
(State or other jurisdiction of incorporation or organization) | (Commission File Number) | (I.R.S. Employer Identification No.) | ||||||
(Address of principal executive offices)
(Registrant's telephone number, including area code)
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading symbol(s) | Name of each exchange on which registered | ||||||
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
| Emerging growth company | ||||||||||||||
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 2.02 Results of Operations and Financial Condition
On November 12, 2026, Edgewell Personal Care Company (the “Company”) issued a press release announcing financial and operating results for its fourth quarter and fiscal year ended September 30, 2026. This press release is furnished as Exhibit 99.1 hereto and incorporated herein by reference.
The information contained in this Current Report on Form 8-K under Item 2.02, including the accompanying Exhibit 99.1, is being furnished pursuant to Item 2.02 of Form 8-K and shall not be deemed to be "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section. The information contained in this Current Report on Form 8-K under Item 2.02, including the accompanying Exhibit 99.1, shall not be incorporated by reference into any filing under the Securities Act of 1933, as amended, or the Exchange Act, whether made before or after the date hereof, except as shall be expressly set forth by specific reference in such a filing.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
| Exhibit No. | Description | |||||||
| 99.1 | Press Release of Edgewell Personal Care Company, dated November 12, 2026 | |||||||
| 104.1 | Cover Page Interactive Data File (embedded within the Inline XBRL document). | |||||||
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| By: | /s/ Francesca Weissman | ||||||||||
| Francesca Weissman | |||||||||||
| Chief Financial Officer | |||||||||||
| (principal financial officer) | |||||||||||
| Date: | November 12, 2026 | ||||||||||
Exhibit 99.1
 | Edgewell Personal Care Company 6 Research Drive Shelton, Conn 06484 | ||||
| FOR IMMEDIATE RELEASE | Company Contact | ||||
| Chris Gough Vice President, Investor Relations 203-944-5706 Chris.Gough@Edgewell.com | |||||
Edgewell Personal Care Announces Fourth Quarter and Fiscal 2026 Results
Fourth Quarter Net Sales Increased 3.0%, or 3.1% Organic; GAAP EPS $0.23, Adjusted EPS $0.78, or +50.0%
Fiscal 2026 Net Sales Increased 1.8%, or 0.3% Organic; GAAP EPS $(0.05), Adjusted EPS $1.93, or +6.6%
Provides Fiscal 2027 Outlook; Expects Growth in Organic Net Sales, Adjusted EBITDA and Adjusted EPS
Shelton, Conn - November 12, 2026 - Edgewell Personal Care Company (NYSE: EPC) today announced results for its fourth fiscal quarter 2026 and fiscal year ended September 30, 2026.
Executive Summary
•Fourth quarter net sales were $484.1 million, an increase of 3.0% compared to the prior year quarter. Full year net sales were $1,996.5 million, an increase of 1.8% compared to the prior year.
•Organic net sales increased 3.1% for the quarter and increased 0.3% for the full year. (Organic basis excludes the impact from currency movements).
•GAAP Diluted Net Earnings (Loss) from Continuing Operations Per Share ("EPS") were $0.23, compared to $0.26 in the prior year quarter and $(0.05) for the full fiscal year compared to $0.93 for the prior year.
•Adjusted EPS were $0.78 for the quarter, compared to $0.52 in the prior year quarter and $1.93 for the full fiscal year compared to $1.81 for the prior year.
•Ended the fourth quarter with $375.6 million in cash on hand, plus access to an additional $418.8 million under the Company’s U.S. revolving credit facility.
•Returned $6.9 million to shareholders in the form of dividends in the fourth quarter.
•The Board of Directors declared a cash dividend of $0.15 per common share on November 12, 2026, for the fourth quarter.
“Fiscal 2026 was a year of meaningful progress and change for Edgewell, culminating in a strong fourth quarter that reflected continued growth in North America, a return to growth in International and stronger performance across our focus brands,” said Rod Little, President and Chief Executive Officer. “Our second-half performance enabled us to deliver the top- and bottom-line outlook we established at the beginning of the year on an adjusted basis, providing further evidence that our investments in innovation, brand building and commercial execution are gaining traction. We enter fiscal 2027 as a more focused business, with confidence in our plans to build on this progress, increase support behind our brands and improve profitability. While significant cost and competitive headwinds persist, we believe the broader transformation of our operating model is creating greater capacity to invest and supporting more consistent growth and margin expansion.”
1
Unless otherwise noted, reported results in this release are based on continuing operations and exclude the Feminine Care business which is treated as discontinued operations. The Company reports and forecasts results on a GAAP and non-GAAP basis and has reconciled non-GAAP results and outlook to the most directly comparable GAAP measures later in this release. See non-GAAP Financial Measures for a more detailed explanation, including definitions of various non-GAAP terms used in this release. All comparisons used in this release are for the same period in the prior fiscal year unless otherwise stated.
Fiscal 4Q 2026 Operating Results (Unaudited)
Net sales were $484.1 million in the quarter, an increase of $14.2 million, or 3.0%, including a $0.5 million, or 0.1% unfavorable impact from currency movements. Organic net sales increased $14.7 million, or 3.1%, reflecting broad-based growth across the business, including growth in both North America and International. North America organic sales increased 3.3%, driven by growth in Grooming and Wet Shave, reflecting improved execution, increased distribution and continued strength across several of the Company's focus brands. International organic sales increased 3.0%, reflecting growth across all segments.
Gross profit was $209.6 million, as compared to $188.4 million in the prior year quarter. Gross margin as a percent of net sales was 43.3%, an increase of 320-basis points. Adjusted gross margin increased 510-basis points, to 45.7%, driven by productivity savings, favorable volume absorption, favorable currency, and the lapping of transitory costs in the prior year period, partially offset by higher inflation, net of tariffs, and unfavorable mix.
Advertising and sales promotion expense ("A&P") was $56.1 million, or 11.6% of net sales, an increase of $10.2 million, compared to $45.9 million, or 9.8% of net sales in the prior year quarter. The increase reflects continued investment behind the Company's focus brands and growth priorities, including expanded media support and brand-building initiatives.
Selling, general and administrative expense ("SG&A") was $107.2 million, or 22.1% of net sales, as compared to $105.5 million, or 22.5% of net sales in the prior year quarter. Adjusted SG&A was 20.6% of net sales, compared to 21.9% in the prior year quarter. The improvement primarily reflects lower corporate and people-related expenses.
The Company recorded pre-tax restructuring and related costs in support of cost efficiency and effectiveness programs of $29.9 million in the quarter.
Operating income was $16.9 million, or 3.5% of net sales, inclusive of $4.0 million favorable impact from currency movements, compared to income of $6.9 million, or 1.5% of net sales in the prior year quarter. Adjusted operating income was $51.1 million, or 10.6% of net sales, compared to $27.7 million, or 5.9% of net sales in the prior year quarter.
Interest expense associated with debt was $15.0 million, compared to $14.8 million in the prior year quarter. The increase in interest expense was the result of lower capitalized interest for projects with capital expenditures, partially offset by lower borrowing levels on the Company’s U.S. revolving credit facility due to the paydown of the facility with the proceeds of the Feminine Care divestiture.
Other (income) expense, net was income of $8.3 million compared to expense of $2.1 million in the prior year quarter. The current year quarter included $7.2 million of Transition Services Agreement (“TSA”) income. Additionally, the prior year quarter included $0.8 million of other project gains. Currency hedge and remeasurement gains were $0.3 million in the current quarter, compared to a loss of $2.0 million in the prior year quarter. Adjusted other (income) expense, net was income of $8.7 million compared to expense of $2.9 million in the prior year quarter.
The effective tax rate for fiscal 2026 was (175.3)% compared to (19.1)% in the prior year period. The current year period reflects a tax expense on a loss while fiscal 2025 reflects a tax benefit on income. The fiscal 2026 effective tax rate reflects less favorable discrete and unusual items compared to fiscal 2025. The adjusted effective tax rate for fiscal 2026 was 23.0%, compared to 11.0% in the prior year period.
GAAP net earnings from continuing operations were $10.7 million of income, or $0.23 per diluted share, compared to income of $12.1 million, or $0.26 per diluted share, in the prior year quarter. Adjusted net earnings from continuing operations were $36.8 million, or $0.78 per share, inclusive of a $0.11 favorable currency impact, compared to $24.3 million, or $0.52 per share, in the prior year quarter. Adjusted EBITDA was $76.8 million, inclusive of a $6.3 million favorable currency impact, compared to $43.0 million in the prior year quarter.
Net cash provided by operating activities on a consolidated basis, inclusive of continuing and discontinued operations was $49.6 million for the year ended September 30, 2026, compared to $118.4 million in the prior year period. The decrease in cash provided by operating activities was largely driven by one-time operating cash flow impacts associated directly with the Feminine Care divestiture including tax, working capital, and deal related fees and expenses. The fourth quarter ended with $375.6 million in cash on hand and access to $418.8 million under the Company’s U.S. revolving credit facility. Adjusted net debt leverage ratio at the end of the fourth quarter was 3.4x.
2
Fiscal 4Q 2026 Operating Segment Results (Unaudited)
Wet Shave (Men's Systems, Women's Systems, Disposables, and Shave Preps)
Net sales increased $3.9 million, or 1.2%. Organic net sales increased $5.2 million or 1.6%, as growth in the branded business more than offset lower Private Label sales related to temporary supply constraints in North America and certain international markets. Segment profit increased $5.7 million, or 10.8%. Organic segment profit, excluding the favorable impact from currency, increased $2.5 million, or 4.8%, as the benefits of higher gross profit were partially offset by higher marketing and SG&A expenses.
Sun and Skin Care (Sun Care, Men’s and Women’s Grooming Products, and Wet Ones)
Net sales increased $10.3 million, or 7.0%. Organic net sales increased $9.5 million, or 6.5%, driven by strong global Grooming performance, partially offset by declines in North America Sun Care and Skin Care. Segment profit increased $14.7 million, or 294.0%, including a favorable impact from foreign currency of $0.8 million, or 16.0%. Organic segment profit increased $13.9 million, or 278.0%, as the benefits of higher gross profit and lower SG&A expense were partially offset by increased investment behind the Company's brands.
Fiscal 2026 Operating Results (Unaudited)
Net sales were $1,996.5 million, an increase of $34.5 million, or 1.8%. Organic net sales increased 0.3%. North America organic net sales increased 0.4%, primarily attributable to higher volumes in Grooming and Sun Care, partially offset by declines in Wet Shave and Skin Care. International organic net sales increased 0.2%, driven by pricing, partially offset by lower volumes.
Gross Profit was $830.0 million, compared to $847.8 million in the prior year. Gross margin as a percent of net sales was 41.6%, a decrease of 160-basis points compared to the prior year period. Adjusted gross margin decreased 10-basis points, to 43.4%, as 230 basis points of productivity savings, favorable currency and slightly favorable net pricing, were more than offset by 250 basis points of core inflation, inclusive of tariffs, and 60 basis points of unfavorable mix and other.
A&P was $243.5 million, or 12.2% of net sales, an increase of $15.6 million from the prior year, compared to 11.6% in the prior year, reflecting increased investment behind the Company's focus brands and growth priorities in North America and International markets.
Selling, general and administrative expense ("SG&A") was $428.9 million, or 21.5%, of net sales, as compared to $408.6 million, or 20.8%, of net sales in the prior year. Adjusted SG&A as a percent of net sales was 20.5% as compared to 20.4% in the prior year, due to higher corporate expenses and consulting costs.
The Company recorded pre-tax restructuring and related costs of $101.8 million, consisting largely of severance, project implementation and other exit costs in support of transformation and cost efficiency programs. These costs included $80.0 million related to the consolidation of its Mexico facilities and Wet Shave operations and $21.8 million related to global transformation actions to strengthen its operating model and support the Company’s new growth strategy and commercial ambitions.
Operating income was $41.4 million, or 2.1% of net sales, inclusive of $11.7 million favorable impact from currency movements, compared to $110.2 million, or 5.6% of net sales, in the prior year. Adjusted operating income was $161.6 million, or 8.1% of net sales, compared to $173.3 million, or 8.8%, of net sales in the prior year. The decrease in adjusted operating income margin was attributable to higher brand investment, lower gross margin, and higher SG&A.
Other (income) expense, net was income of $26.7 million in fiscal 2026 compared to income of $0.2 million in the prior year period. The current year included $21.5 million of Transition Services Agreement (“TSA”) income. The impact was partially offset by currency hedge and remeasurement losses of $0.8 million in fiscal 2026 compared to losses of $0.6 million in fiscal 2025. Adjusted other (income) expense, net was income of $24.9 million compared to expense of $3.0 million in the prior year period. The current year period included $0.7 million of other project gains, compared to $2.3 million of other project gain in fiscal 2025.
GAAP net (loss) earnings from continuing operations were $(2.2) million or $(0.05) per diluted share compared to $44.3 million or $0.93 per diluted share in the prior year period. Adjusted net earnings were $90.5 million or $1.93 per share, inclusive of a $0.20 favorable impact from currency movements, compared to $86.3 million or $1.81 per share in the prior year period. Adjusted EBITDA was $254.5 million, inclusive of an $11.5 million favorable currency impact, compared to $239.7 million in the prior year.
3
Capital Allocation
On November 12, 2026, the Board of Directors declared a quarterly cash dividend of $0.15 per common share for the fourth fiscal quarter of fiscal 2026. The dividend will be payable on January 7, 2027 to shareholders of record at the close of business on December 3, 2026. During the fourth quarter of fiscal 2026, the Company paid dividends totaling $6.9 million to stockholders. As of September 30, 2026, the Company had approximately $85 million available for share repurchase in the future under the Board’s 2025 authorization.
Full Fiscal Year 2027 Financial Outlook
The Company is providing the following outlook assumptions for fiscal 2027.
•Reported net sales are expected to increase in the range of approximately 0.4% to 2.4%
◦Includes an estimated 60-basis point negative impact from foreign currency changes
•Organic net sales are expected to increase in the range of approximately 1.0% to 3.0%
•GAAP EPS is expected to be in the range of $0.90 to $1.20
◦Includes: Restructuring and related costs*, Sun Care reformulation, and Other costs
•Adjusted EPS is expected to be in the range of $1.85 to $2.15
•Adjusted operating margin is expected to increase approximately 70 basis points, including approximately 60 basis points of adjusted gross margin expansion and approximately 90 basis points of lower SG&A, partially offset by approximately 80 basis points of higher A&P investment.
•Adjusted EBITDA is expected to be in the range of $250 to $270 million
•Other income, net is expected to be approximately $13 million
•Interest expense associated with debt is expected to be approximately $67 million
•Adjusted effective tax rate is expected to be approximately 24%
•Capital expenditures are expected to be in the range of approximately 2.75% to 3.25% of net sales
•Adjusted free cash flow is expected to be approximately $100 to $120 million
*In fiscal 2027, the Company is taking specific actions to strengthen its operating model, simplify the organization and improve manufacturing and supply chain efficiency through restructuring and repositioning actions, including the further consolidation of Wet Shave operations. Additionally, the Company announced global transformation actions to deliver its new growth strategy and commercial ambitions. As a result of these actions, the Company expects to incur pre-tax charges of approximately $55 million for the full fiscal year.
Webcast Information
In conjunction with this announcement, the Company will hold an investor conference call beginning at 8:00 a.m. Eastern Time today, November 12, 2026. All interested parties may access a live webcast of this conference call at www.edgewell.com, under the "Investors," and "News and Events" tabs or by using the following link: http://ir.edgewell.com/news-and-events/events
For those unable to participate during the live webcast, a re-play will be available on www.edgewell.com, under the "Investors," "Financial Reports," and "Quarterly Earnings" tabs. This release includes references to the Company's website and references to additional information and materials found on its website. The Company's website and such information and materials are not incorporated by reference in, and are not part of, this release.
4
About Edgewell
Edgewell is a leading pure-play consumer products company with an attractive, diversified portfolio of established brand names such as Schick®, Wilkinson Sword® and Billie® men's and women's shaving systems and disposable razors; Edge and Skintimate® shave preparations; Banana Boat®, Hawaiian Tropic®, Bulldog®, Jack Black®, and CREMO® sun and skin care products; and Wet Ones® products. The Company has a broad global footprint and operates in more than 50 markets, including the U.S., Canada, Mexico, Germany, Japan, the U.K. and Australia, with approximately 6,500 employees worldwide.
# # #
Forward-Looking Statements. This document contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. You should not place undue reliance on these statements. These forward-looking statements include, but are not limited to, statements concerning our expectations regarding our future results of operations and financial condition; including business trajectory and performance improvement; future growth and value creation; our capital allocation plans; future dividend payments; the effects of macroeconomic and geopolitical factors such as changes in tariffs, inflationary pressures, and conflicts or acts of war (such as the conflict in the Middle East). Additional forward-looking statements can generally be identified by the use of words or phrases such as "believe," "expect," "expectation," "anticipate," "may," "could," "intend," "belief," "estimate," "plan," "target," "predict," "likely," "will," "should," "forecast," "outlook," or other similar words or phrases. These statements are not based on historical facts, but instead reflect the Company's expectations, estimates or projections concerning future results or events, including, without limitation, the future earnings and performance of Edgewell or any of its businesses. Many factors outside our control could affect the realization of these estimates. These statements are not guarantees of performance and are inherently subject to known and unknown risks, uncertainties and assumptions that are difficult to predict and could cause the Company's actual results to differ materially from those indicated by those statements. The Company cannot assure you that any of its expectations, estimates or projections will be achieved. The forward-looking statements included in this document are only made as of the date of this document and the Company disclaims any obligation to publicly update any forward-looking statement to reflect subsequent events or circumstances, except as required by law. You should not place undue reliance on these statements.
Factors that could cause fluctuations in our actual results include, but are not limited to, the following: our ability to compete in products and prices, as well as costs, in an intensely competitive industry; the loss of any of our principal customers or changes in the policies of our principal customers; our inability to design and execute a successful omnichannel strategy; our ability to attract, retain and develop key personnel; fluctuations in the price and supply of raw materials and costs of labor, warehousing and transportation; the impact of seasonal volatility on our sales, financial performance, working capital requirements and cash flow; the ability to successfully manage evolving global financial risks, including tariffs, foreign currency fluctuations, currency exchange or pricing controls and localized volatility; the ability to manage disruption of business due to various factors, including ones outside of our control, such as natural disasters, conflicts or acts of war (such as the conflict in the Middle East), terrorism or disease outbreaks; impacts from any loss of our principal customers or changes in the policies or strategies of our customers; our level of indebtedness and the various covenants related thereto, and to generate sufficient income and cash flow to allow the Company to effect expected share repurchases and dividend payments; our failure to maintain our brands’ reputation and successfully respond to changing consumer habits; and perceptions of certain ingredients, negative perceptions of packaging, lack of recyclability or other environmental attributes; our access to capital markets and borrowing capacity; impairment of our goodwill and other intangible assets; the ability to successfully manage the financial, legal, reputational and operational risks associated with third-party relationships, such as our suppliers, contract manufacturers, distributors, contractors and external business partners; risks associated with our international operations; our ability to effectively integrate acquired companies and successfully manage divestiture activities; our ability to successfully implement our cost savings initiatives, including rationalization or restructuring efforts; the ability to rely on and maintain key Company and third-party information and operational technology systems, networks and services and maintain the security and functionality of such systems, networks and services and the data contained therein; the ability to effectively incorporate artificial intelligence (“AI”) into our business; the ability to successfully achieve, maintain or adjust our environmental or sustainability goals and priorities; the ability to successfully manage current and expanding regulatory and legal requirements and matters (including, without limitation, those laws and regulations involving product liability, product and packaging composition, manufacturing processes, intellectual property, labor and employment, antitrust, privacy, cybersecurity and data protection, artificial intelligence, tax, the environment, due diligence, risk oversight, accounting and financial reporting) and to resolve new and pending matters within current estimates; the ability to adequately protect our intellectual property rights; product quality and safety issues, including recalls and product liability; losses or increased funding and expenses related to our pension plans; and the other important factors described in our Annual Report on Form 10-K for the fiscal year ended September 30, 2025 (“2025 Annual Report”) under Part I. Item 1A. “Risk Factors,” and in our other filings with the Securities and Exchange Commission (“SEC”). In addition, other risks and uncertainties not presently known to the Company or that it presently considers immaterial could significantly affect the accuracy of any such forward-looking statements. Risks and uncertainties include those detailed from time to time in the Company's publicly filed documents, including in Item 1A. Risk Factors of Part I of the Company's Annual Report on Form 10-K filed with the Securities and Exchange Commission (the “SEC”) on November 18, 2025.
5
Non-GAAP Financial Measures. While the Company reports financial results in accordance with generally accepted accounting principles ("GAAP") in the U.S., this discussion also includes non-GAAP measures. These non-GAAP measures are referred to as "adjusted" or "organic" and exclude items which are considered by the Company as unusual, non-recurring, or outside of ordinary operations and which may have a disproportionate positive or negative impact on the Company’s financial results in any particular period. Reconciliations of non-GAAP measures, including reconciliations of measures related to the Company's fiscal 2027 financial outlook, are included within the Notes to Condensed Consolidated Financial Statements included with this release.
This non-GAAP information is provided as a supplement to, not as a substitute for, or as superior to, measures of financial performance prepared in accordance with GAAP. The Company uses this non-GAAP information internally to make operating decisions and believes it is helpful to investors because it allows more meaningful period-to-period comparisons of ongoing operating results. The information can also be used to perform analysis and to better identify operating trends that may otherwise be masked or distorted by the types of items that are excluded. This non-GAAP information is a component in determining management's incentive compensation. Finally, the Company believes this information provides a higher degree of transparency. The following provides additional detail on the Company's non-GAAP measures:
•The Company utilizes “adjusted” non-GAAP measures including gross margin, SG&A, operating income, operating margin, effective tax rate, net earnings, earnings per share, EBITDA, and other (income) expense to internally make operating decisions.
◦Constant currency measures are calculated by removing the impact of translational and transactional foreign currencies changes, net of foreign currency hedges compared to the prior year. Transactional foreign currency changes are driven by foreign legal entities’ transactions not denominated in local currency.
•The Company analyzes its net sales and segment profit on an organic basis to better measure the comparability of results between periods. Organic net sales and organic segment profit exclude the impact of changes in foreign currency.
◦Segment profit is impacted by fluctuations in translation and transactional foreign currency. The impact of currency was applied to segments using management’s best estimate.
•The Company presents certain metrics on a consolidated and continuing operations basis to help with comparability.
•Free cash flow is defined as net cash from operating activities, less capital expenditures plus collections of deferred purchase price of accounts receivable sold and proceeds from sales of fixed assets. Adjusted free cash flow is defined as free cash flow, adjusted for the following: the one-time operating cash flow impacts associated directly with Feminine Care divestiture including tax, working capital, and deal related fees and expenses.
•Net debt is defined as Gross debt less cash and cash equivalents. Net debt leverage ratio is defined as net debt divided by trailing twelve month adjusted EBITDA. Adjusted net debt leverage ratio is defined as net debt divided by continuing operations trailing twelve month adjusted EBITDA, which includes Transition Services Agreement income realized in fiscal 2026 Q2, Q3 and Q4 (eight months), plus $9 million of pro forma Transition Services Agreement income (four months). Refer to Supplemental Slides for fiscal year 2025 quarterly recast adjusted EBITDA reconciliation for continuing operations filed on February 9, 2026 at www.edgewell.com, under the "Investors," and "News and Events" tabs or by using the following link http://ir.edgewell.com/news-and-events/events for historical financial information related to the Company’s divestiture of its Feminine Care business consistent with the continuing operations structure.
Basis of Presentation. In accordance with applicable accounting guidance, the results of the Feminine Care segment are presented as discontinued operations in the Condensed Consolidated Statements of Earnings and Comprehensive Income and, as such, have been excluded from both continuing operations and segment results for all periods presented. Further, the Company reclassified the assets and liabilities of the Feminine Care disposal group as assets and liabilities held for sale in the Condensed Consolidated Balance Sheet as of September 30, 2025. The Condensed Consolidated Statements of Cash Flows are presented on a consolidated basis with both continuing operations and discontinued operations. All amounts, percentages and disclosures for all periods presented reflect only the continuing operations of Edgewell unless otherwise noted.
The financial results included herein represent the most current information available to management and are preliminary until the Company’s Annual Report on Form 10-K is filed with the SEC. Actual results may differ from these preliminary results and are subject to the completion of year-end accounting procedures and adjustments and the audit of the Company’s consolidated financial statements. Please refer to the Form 10-K to be filed with the SEC on November 13, 2026.
6
EDGEWELL PERSONAL CARE COMPANY
CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS
(unaudited, in millions, except per share data)
| Three Months Ended September 30, | Twelve Months Ended September 30, | ||||||||||||||||||||||
| 2026 | 2025 | 2026 | 2025 | ||||||||||||||||||||
| Net sales | $ | 484.1 | $ | 469.9 | $ | 1,996.5 | $ | 1,962.0 | |||||||||||||||
| Cost of products sold | 274.5 | 281.5 | 1,166.5 | 1,114.2 | |||||||||||||||||||
| Gross profit | 209.6 | 188.4 | 830.0 | 847.8 | |||||||||||||||||||
| Selling, general and administrative expense | 107.2 | 105.5 | 428.9 | 408.6 | |||||||||||||||||||
| Advertising and sales promotion expense | 56.1 | 45.9 | 243.5 | 227.9 | |||||||||||||||||||
| Research and development expense | 15.5 | 15.5 | 57.5 | 55.6 | |||||||||||||||||||
| Restructuring charges | 13.9 | 14.6 | 58.7 | 45.5 | |||||||||||||||||||
| Operating income | 16.9 | 6.9 | 41.4 | 110.2 | |||||||||||||||||||
| Interest expense associated with debt | 15.0 | 14.8 | 68.9 | 73.2 | |||||||||||||||||||
| Other (income) expense, net | (8.3) | 2.1 | (26.7) | (0.2) | |||||||||||||||||||
| (Loss) earnings from continuing operations before income taxes | 10.2 | (10.0) | (0.8) | 37.2 | |||||||||||||||||||
| Income tax provision (benefit) on continuing operations | (0.5) | (22.1) | 1.4 | (7.1) | |||||||||||||||||||
| Net (loss) earnings from continuing operations | 10.7 | 12.1 | (2.2) | 44.3 | |||||||||||||||||||
| (Loss) earnings from discontinued operations, net of tax | 0.2 | (42.7) | (49.5) | (18.9) | |||||||||||||||||||
| Net (loss) earnings | $ | 10.9 | $ | (30.6) | $ | (51.7) | $ | 25.4 | |||||||||||||||
| Basic (loss) earnings per share | |||||||||||||||||||||||
| Continuing operations | $ | 0.23 | $ | 0.26 | $ | (0.05) | $ | 0.93 | |||||||||||||||
| Discontinued operations | — | (0.92) | (1.07) | (0.40) | |||||||||||||||||||
| Basic (loss) earnings per share | $ | 0.23 | $ | (0.66) | $ | (1.12) | $ | 0.53 | |||||||||||||||
| Diluted (loss) earnings per share | |||||||||||||||||||||||
| Continuing operations | $ | 0.23 | $ | 0.26 | $ | (0.05) | $ | 0.93 | |||||||||||||||
| Discontinued operations | — | (0.92) | (1.07) | (0.40) | |||||||||||||||||||
| Diluted (loss) earnings per share | $ | 0.23 | $ | (0.66) | $ | (1.12) | $ | 0.53 | |||||||||||||||
| Weighted-average shares outstanding: | |||||||||||||||||||||||
| Basic | 46.1 | 46.5 | 46.3 | 47.5 | |||||||||||||||||||
| Diluted | 47.2 | 46.5 | 46.3 | 47.6 | |||||||||||||||||||
See Accompanying Notes.
7
EDGEWELL PERSONAL CARE COMPANY
CONDENSED CONSOLIDATED BALANCE SHEETS
(unaudited, in millions)
| September 30, 2026 | September 30, 2025 | ||||||||||
| Assets | |||||||||||
| Current assets | |||||||||||
| Cash and cash equivalents | $ | 375.6 | $ | 225.7 | |||||||
| Trade receivables, less allowance for doubtful accounts | 132.4 | 137.8 | |||||||||
| Inventories | 445.4 | 433.8 | |||||||||
| Other current assets | 166.4 | 138.6 | |||||||||
| Current assets held for sale | — | 59.6 | |||||||||
| Total current assets | 1,119.8 | 995.5 | |||||||||
| Property, plant and equipment, net | 296.7 | 295.0 | |||||||||
| Goodwill | 1,133.1 | 1,137.1 | |||||||||
| Other intangible assets, net | 799.5 | 828.2 | |||||||||
| Other assets | 199.4 | 178.7 | |||||||||
| Non-current assets held for sale | — | 321.8 | |||||||||
| Total assets | $ | 3,548.5 | $ | 3,756.3 | |||||||
| Liabilities and Shareholders’ Equity | |||||||||||
| Current liabilities | |||||||||||
| Notes payable | $ | 38.8 | $ | 29.5 | |||||||
| Accounts payable | 209.7 | 219.7 | |||||||||
| Other current liabilities | 367.5 | 311.1 | |||||||||
| Current liabilities held for sale | — | 5.2 | |||||||||
| Total current liabilities | 616.0 | 565.5 | |||||||||
| Long-term debt | 1,245.5 | 1,383.3 | |||||||||
| Deferred income tax liabilities | 79.2 | 118.8 | |||||||||
| Other liabilities | 135.8 | 135.6 | |||||||||
| Total liabilities | 2,076.5 | 2,203.2 | |||||||||
| Shareholders’ equity | |||||||||||
| Common shares | 0.7 | 0.7 | |||||||||
| Additional paid-in capital | 1,573.4 | 1,578.8 | |||||||||
| Retained earnings | 1,005.8 | 1,086.7 | |||||||||
| Common shares in treasury at cost | (997.1) | (1,003.3) | |||||||||
| Accumulated other comprehensive loss | (110.8) | (109.8) | |||||||||
| Total shareholders’ equity | 1,472.0 | 1,553.1 | |||||||||
| Total liabilities and shareholders’ equity | $ | 3,548.5 | $ | 3,756.3 | |||||||
See Accompanying Notes.
8
EDGEWELL PERSONAL CARE COMPANY
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(unaudited, in millions)
| Twelve Months Ended September 30, | |||||||||||
| 2026 | 2025 | ||||||||||
| Cash Flow from Operating Activities | |||||||||||
| Net (loss) earnings | $ | (51.7) | $ | 25.4 | |||||||
| Depreciation and amortization | 77.8 | 88.8 | |||||||||
| Share-based compensation expense | 19.0 | 24.5 | |||||||||
| Loss on sale of assets | 1.3 | 1.9 | |||||||||
| Impairment charges | 37.4 | 51.1 | |||||||||
| Loss on assets held for sale | 2.2 | — | |||||||||
| Deferred compensation payments | (2.3) | (3.1) | |||||||||
| Deferred income taxes | (43.9) | (21.7) | |||||||||
| Other, net | (2.0) | (22.7) | |||||||||
| Changes in operating assets and liabilities | 11.8 | (25.8) | |||||||||
| Net cash provided by operating activities | 49.6 | 118.4 | |||||||||
| Cash Flow from Investing Activities | |||||||||||
| Proceeds from sale of business | 338.9 | — | |||||||||
| Capital expenditures | (59.6) | (77.0) | |||||||||
| Collection of deferred purchase price on accounts receivable sold | 4.0 | 5.6 | |||||||||
| Other, net | 5.9 | (1.5) | |||||||||
| Net cash provided by (used in) investing activities | 289.2 | (72.9) | |||||||||
| Cash Flow from Financing Activities | |||||||||||
| Cash proceeds from debt with original maturities greater than 90 days | 398.0 | 931.0 | |||||||||
| Cash payments on debt with original maturities greater than 90 days | (538.0) | (825.0) | |||||||||
| Net proceeds from debt with original maturities of 90 days or less | 7.3 | 5.5 | |||||||||
| Repurchase of shares | (15.8) | (90.2) | |||||||||
| Dividends to common shareholders | (28.4) | (29.3) | |||||||||
| Employee shares withheld for taxes | (2.9) | (7.5) | |||||||||
| Net financing (outflow) inflow from the Accounts Receivable Facility | (2.6) | (14.1) | |||||||||
| Other, net | (0.4) | (0.4) | |||||||||
| Net cash used in financing activities | (182.8) | (30.0) | |||||||||
| Effect of exchange rate changes on cash | (6.1) | 1.1 | |||||||||
| Net increase (decrease) in cash and cash equivalents | 149.9 | 16.6 | |||||||||
| Cash and cash equivalents, beginning of period | 225.7 | 209.1 | |||||||||
| Cash and cash equivalents, end of period | $ | 375.6 | $ | 225.7 | |||||||
See Accompanying Notes.
9
EDGEWELL PERSONAL CARE COMPANY
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
(unaudited, in millions, except per share data)
Note 1 — Segments
The Company conducts its business in the following two segments: Wet Shave and Sun and Skin Care (collectively, the “Segments,” and each individually, a “Segment”). Segment performance is evaluated based on segment profit, exclusive of general corporate expenses, share-based compensation costs, items which are considered by the Company to be unusual or non-recurring and which may have a disproportionate positive or negative impact on the Company’s financial results in any particular period and the amortization of intangible assets. Financial items, such as interest income and expense, are managed on a global basis at the corporate level. The exclusion of such charges from segment results reflects management's view on how it evaluates segment performance.
Segment net sales and profitability are presented below:
| Three Months Ended September 30, | Twelve Months Ended September 30, | ||||||||||||||||||||||
| 2026 | 2025 | 2026 | 2025 | ||||||||||||||||||||
| Net sales | |||||||||||||||||||||||
| Wet Shave | $ | 325.8 | $ | 321.9 | $ | 1,224.0 | $ | 1,218.9 | |||||||||||||||
| Sun and Skin Care | 158.3 | 148.0 | 772.5 | 743.1 | |||||||||||||||||||
| Total net sales | $ | 484.1 | $ | 469.9 | $ | 1,996.5 | $ | 1,962.0 | |||||||||||||||
| Segment Profit | |||||||||||||||||||||||
| Wet Shave | $ | 58.7 | $ | 53.0 | $ | 164.7 | $ | 190.3 | |||||||||||||||
| Sun and Skin Care | 19.7 | 5.0 | 109.2 | 98.4 | |||||||||||||||||||
| Total segment profit | 78.4 | 58.0 | 273.9 | $ | 288.7 | ||||||||||||||||||
| General corporate and other expenses | (20.9) | (24.0) | (87.1) | (89.8) | |||||||||||||||||||
| Amortization of intangibles | (6.3) | (6.4) | (25.3) | (25.6) | |||||||||||||||||||
| Interest and other expense, net | (6.4) | (17.6) | (43.9) | (76.2) | |||||||||||||||||||
| Restructuring and related costs | (29.9) | (18.0) | (101.8) | (50.7) | |||||||||||||||||||
| Acquisition and integration costs | — | — | — | (0.5) | |||||||||||||||||||
| Sun Care reformulation costs | (1.0) | (1.3) | (4.4) | (3.5) | |||||||||||||||||||
| Legal matters | (1.8) | — | (7.5) | — | |||||||||||||||||||
| (Loss) gain on investment | (0.4) | — | 1.1 | 0.9 | |||||||||||||||||||
| Commercial realignment | — | 0.1 | 0.2 | (2.9) | |||||||||||||||||||
| Other project and related costs | (1.5) | (0.8) | (6.0) | (3.2) | |||||||||||||||||||
| Total earnings (loss) before income taxes | $ | 10.2 | $ | (10.0) | $ | (0.8) | $ | 37.2 | |||||||||||||||
Refer to Note 2 - GAAP to Non-GAAP Reconciliations below for the income statement location of non-GAAP adjustments to earnings before income taxes.
10
Note 2 — GAAP to Non-GAAP Reconciliations
The following tables provide a GAAP to Non-GAAP reconciliation of certain line items from the Condensed Consolidated Statement of Earnings:
| Three Months Ended September 30, 2026 | |||||||||||||||||||||||||||||||||||||||||
| Gross Profit | SG&A | Operating Income | EBIT (Loss) from Continuing Operations (1) | Income Tax Provision (Benefit) from Continuing Operations | Net (Loss) Income from Continuing Operations | Diluted EPS from Continuing Operations | |||||||||||||||||||||||||||||||||||
| GAAP — Reported | $ | 209.6 | $ | 107.2 | $ | 16.9 | $ | 10.2 | $ | (0.5) | $ | 10.7 | $ | 0.23 | |||||||||||||||||||||||||||
| Restructuring and related costs | 11.5 | (4.5) | 29.9 | 29.9 | 7.4 | 22.5 | 0.48 | ||||||||||||||||||||||||||||||||||
| Sun Care reformulation costs | — | — | 1.0 | 1.0 | 0.3 | 0.7 | 0.01 | ||||||||||||||||||||||||||||||||||
| Legal matters | — | (1.8) | 1.8 | 1.8 | 0.3 | 1.5 | 0.03 | ||||||||||||||||||||||||||||||||||
| Loss on investment | — | — | — | 0.4 | 0.1 | 0.3 | 0.01 | ||||||||||||||||||||||||||||||||||
| Other project and related costs | — | (1.3) | 1.5 | 1.5 | 0.4 | 1.1 | 0.02 | ||||||||||||||||||||||||||||||||||
| Total Adjusted Non-GAAP | $ | 221.1 | $ | 99.6 | $ | 51.1 | $ | 44.8 | $ | 8.0 | $ | 36.8 | $ | 0.78 | |||||||||||||||||||||||||||
| Adjusted Non-GAAP Constant Currency | 0.67 | ||||||||||||||||||||||||||||||||||||||||
| GAAP as a percent of net sales | 43.3 | % | 22.1 | % | 3.5 | % | GAAP effective tax rate | (5.2) | % | ||||||||||||||||||||||||||||||||
| Adjusted as a percent of net sales | 45.7 | % | 20.6 | % | 10.6 | % | Adjusted effective tax rate | 17.9 | % | ||||||||||||||||||||||||||||||||
| Adjusted Constant Currency as a percent of net sales | 44.8 | % | 9.7 | % | |||||||||||||||||||||||||||||||||||||
(1) EBIT is defined as Earnings (Loss) before Income taxes.
| Three Months Ended September 30, 2025 | |||||||||||||||||||||||||||||||||||||||||
| Gross Profit | SG&A | Operating Income | EBIT (Loss) from Continuing Operations (1) | Income Tax Provision (Benefit) from Continuing Operations | Net (Loss) Income from Continuing Operations | Diluted EPS from Continuing Operations | |||||||||||||||||||||||||||||||||||
| GAAP — Reported | $ | 188.4 | $ | 105.5 | $ | 6.9 | $ | (10.0) | $ | (22.1) | $ | 12.1 | $ | 0.26 | |||||||||||||||||||||||||||
| Restructuring and related costs | 2.3 | (1.1) | 18.0 | 18.0 | 4.5 | 13.5 | 0.29 | ||||||||||||||||||||||||||||||||||
| Sun Care reformulation costs | — | — | 1.3 | 1.3 | 0.3 | 1.0 | 0.02 | ||||||||||||||||||||||||||||||||||
| Commercial realignment | (0.1) | — | (0.1) | (0.1) | — | (0.1) | — | ||||||||||||||||||||||||||||||||||
| Other project and related costs | — | (1.6) | 1.6 | 0.8 | 0.2 | 0.6 | 0.01 | ||||||||||||||||||||||||||||||||||
| Germany re-rate | — | — | — | — | 2.8 | (2.8) | (0.06) | ||||||||||||||||||||||||||||||||||
| Total Adjusted Non-GAAP | $ | 190.6 | $ | 102.8 | $ | 27.7 | $ | 10.0 | $ | (14.3) | $ | 24.3 | $ | 0.52 | |||||||||||||||||||||||||||
| GAAP as a percent of net sales | 40.1 | % | 22.5 | % | 1.5 | % | GAAP effective tax rate | 221.0 | % | ||||||||||||||||||||||||||||||||
| Adjusted as a percent of net sales | 40.6 | % | 21.9 | % | 5.9 | % | Adjusted effective tax rate | (142.8) | % | ||||||||||||||||||||||||||||||||
(1) EBIT is defined as Earnings (Loss) before Income taxes.
11
| Twelve Months Ended September 30, 2026 | |||||||||||||||||||||||||||||||||||||||||
| Gross Profit | SG&A | Operating Income | EBIT (Loss) from Continuing Operations (1) | Income Tax Provision (Benefit) from Continuing Operations | Net (Loss) Income from Continuing Operations | Diluted EPS from Continuing Operations | |||||||||||||||||||||||||||||||||||
| GAAP — Reported | $ | 830.0 | $ | 428.9 | $ | 41.4 | $ | (0.8) | $ | 1.4 | $ | (2.2) | $ | (0.05) | |||||||||||||||||||||||||||
| Restructuring and related costs | 37.2 | (5.9) | 101.8 | 101.8 | 25.1 | 76.7 | 1.64 | ||||||||||||||||||||||||||||||||||
| Sun Care reformulation costs | — | — | 4.4 | 4.4 | 1.1 | 3.3 | 0.07 | ||||||||||||||||||||||||||||||||||
| Legal matters | — | (7.5) | 7.5 | 7.5 | 1.7 | 5.8 | 0.12 | ||||||||||||||||||||||||||||||||||
| Gain on investment | — | — | — | (1.1) | (0.2) | (0.9) | (0.02) | ||||||||||||||||||||||||||||||||||
| Commercial realignment | (0.2) | — | (0.2) | (0.2) | (0.1) | (0.1) | — | ||||||||||||||||||||||||||||||||||
| Other project and related costs | 0.1 | (6.4) | 6.7 | 6.0 | 1.5 | 4.5 | 0.10 | ||||||||||||||||||||||||||||||||||
| Tax shortfall on equity compensation | — | — | — | — | (3.4) | 3.4 | 0.07 | ||||||||||||||||||||||||||||||||||
| Total Adjusted Non-GAAP | $ | 867.1 | $ | 409.1 | $ | 161.6 | $ | 117.6 | $ | 27.1 | $ | 90.5 | $ | 1.93 | |||||||||||||||||||||||||||
| Adjusted Non-GAAP Constant Currency | 1.73 | ||||||||||||||||||||||||||||||||||||||||
| GAAP as a percent of net sales | 41.6 | % | 21.5 | % | 2.1 | % | GAAP effective tax rate | (175.3) | % | ||||||||||||||||||||||||||||||||
| Adjusted as a percent of net sales | 43.4 | % | 20.5 | % | 8.1 | % | Adjusted effective tax rate | 23.0 | % | ||||||||||||||||||||||||||||||||
| Adjusted Constant Currency as a percent of net sales | 43.0 | % | 7.6 | % | |||||||||||||||||||||||||||||||||||||
(1) EBIT is defined as Earnings (Loss) before Income taxes.
| Twelve Months Ended September 30, 2025 | |||||||||||||||||||||||||||||||||||||||||
| Gross Profit | SG&A | Operating Income | EBIT (Loss) from Continuing Operations (1) | Income Tax Provision (Benefit) from Continuing Operations | Net (Loss) Income from Continuing Operations | Diluted EPS from Continuing Operations | |||||||||||||||||||||||||||||||||||
| GAAP — Reported | $ | 847.8 | $ | 408.6 | $ | 110.2 | $ | 37.2 | $ | (7.1) | $ | 44.3 | $ | 0.93 | |||||||||||||||||||||||||||
| Restructuring and related costs | 3.5 | (1.7) | 50.7 | 50.7 | 12.5 | 38.2 | 0.80 | ||||||||||||||||||||||||||||||||||
| Acquisition and integration costs | — | (0.5) | 0.5 | 0.5 | 0.1 | 0.4 | 0.01 | ||||||||||||||||||||||||||||||||||
| Sun Care reformulation costs | — | — | 3.5 | 3.5 | 0.8 | 2.7 | 0.06 | ||||||||||||||||||||||||||||||||||
| Gain on investment | — | — | — | (0.9) | — | (0.9) | (0.02) | ||||||||||||||||||||||||||||||||||
| Commercial realignment | 2.9 | — | 2.9 | 2.9 | 0.9 | 2.0 | 0.04 | ||||||||||||||||||||||||||||||||||
| Other project and related costs | — | (5.5) | 5.5 | 3.2 | 0.8 | 2.4 | 0.05 | ||||||||||||||||||||||||||||||||||
| Germany re-rate | — | — | — | — | 2.8 | (2.8) | (0.06) | ||||||||||||||||||||||||||||||||||
| Total Adjusted Non-GAAP | $ | 854.2 | $ | 400.9 | $ | 173.3 | $ | 97.1 | $ | 10.8 | $ | 86.3 | $ | 1.81 | |||||||||||||||||||||||||||
| GAAP as a percent of net sales | 43.2 | % | 20.8 | % | 5.6 | % | GAAP effective tax rate | (19.1) | % | ||||||||||||||||||||||||||||||||
| Adjusted as a percent of net sales | 43.5 | % | 20.4 | % | 8.8 | % | Adjusted effective tax rate | 11.0 | % | ||||||||||||||||||||||||||||||||
(1) EBIT is defined as Earnings (Loss) before Income taxes.
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Note 3 - Net Sales and Profit (Loss) by Segment
Operations for the Company are reported via two segments. The following tables present changes in net sales and segment profit for the three and twelve months ended September 30, 2026, as compared to the corresponding periods in the prior year.
| Net Sales | |||||||||||||||||||||||||||||||||||
| Quarter Ended September 30, 2026 | Wet Shave | Sun and Skin Care | Total | ||||||||||||||||||||||||||||||||
| Net sales - Q4 2025 | $ | 321.9 | $ | 148.0 | $ | 469.9 | |||||||||||||||||||||||||||||
| Organic | 5.2 | 1.6 | % | 9.5 | 6.5 | % | 14.7 | 3.1 | % | ||||||||||||||||||||||||||
| Impact of currency | (1.3) | (0.4) | % | 0.8 | 0.5 | % | (0.5) | (0.1) | % | ||||||||||||||||||||||||||
| Net sales - Q4 2026 | $ | 325.8 | 1.2 | % | $ | 158.3 | 7.0 | % | $ | 484.1 | 3.0 | % | |||||||||||||||||||||||
| Segment Profit | |||||||||||||||||||||||||||||||||||
| Quarter Ended September 30, 2026 | Wet Shave | Sun and Skin Care | Total | ||||||||||||||||||||||||||||||||
| Segment profit - Q4 2025 | $ | 53.0 | $ | 5.0 | $ | 58.0 | |||||||||||||||||||||||||||||
| Organic | 2.5 | 4.8 | % | 13.9 | 278.0 | % | 16.4 | 28.3 | % | ||||||||||||||||||||||||||
| Impact of currency | 3.2 | 6.0 | % | 0.8 | 16.0 | % | 4.0 | 6.9 | % | ||||||||||||||||||||||||||
| Segment profit - Q4 2026 | $ | 58.7 | 10.8 | % | $ | 19.7 | 294.0 | % | $ | 78.4 | 35.2 | % | |||||||||||||||||||||||
| Net Sales | |||||||||||||||||||||||||||||||||||
| Twelve Months Ended September 30, 2026 | Wet Shave | Sun and Skin Care | Total | ||||||||||||||||||||||||||||||||
| Net sales - fiscal 2025 | $ | 1,218.9 | $ | 743.1 | $ | 1,962.0 | |||||||||||||||||||||||||||||
| Organic | (14.6) | (1.2) | % | 20.9 | 2.8 | % | 6.3 | 0.3 | % | ||||||||||||||||||||||||||
| Impact of currency | 19.7 | 1.6 | % | 8.5 | 1.2 | % | 28.2 | 1.5 | % | ||||||||||||||||||||||||||
| Net sales - fiscal 2026 | $ | 1,224.0 | 0.4 | % | $ | 772.5 | 4.0 | % | $ | 1,996.5 | 1.8 | % | |||||||||||||||||||||||
| Segment Profit | |||||||||||||||||||||||||||||||||||
| Twelve Months Ended September 30, 2026 | Wet Shave | Sun and Skin Care | Total | ||||||||||||||||||||||||||||||||
| Segment profit - fiscal 2025 | $ | 190.3 | $ | 98.4 | $ | 288.7 | |||||||||||||||||||||||||||||
| Organic | (33.9) | (17.9) | % | 7.6 | 7.7 | % | (26.3) | (9.1) | % | ||||||||||||||||||||||||||
| Impact of currency | 8.3 | 4.4 | % | 3.2 | 3.3 | % | 11.5 | 4.0 | % | ||||||||||||||||||||||||||
| Segment profit - fiscal 2026 | $ | 164.7 | (13.5) | % | $ | 109.2 | 11.0 | % | $ | 273.9 | (5.1) | % | |||||||||||||||||||||||
For all tables, the impact of currency to segment profit includes both the translational and transactional currency changes during the quarter and fiscal year.
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Note 4 - Net Debt and EBITDA
The Company reports financial results on a GAAP and adjusted basis. The tables below are used to reconcile Net Debt and Net earnings to EBITDA and Adjusted EBITDA, which are non-GAAP measures, to improve comparability of results between periods.
| September 30, 2026 | September 30, 2025 | ||||||||||
| Notes payable | $ | 38.8 | $ | 29.5 | |||||||
| Long-term debt | 1,245.5 | 1,383.3 | |||||||||
| Gross debt | 1,284.3 | 1,412.8 | |||||||||
| Less: Cash and cash equivalents | 375.6 | 225.7 | |||||||||
| Net debt | $ | 908.7 | $ | 1,187.1 | |||||||
| Three Months Ended September 30, | Twelve Months Ended September 30, | ||||||||||||||||||||||
| 2026 | 2025 | 2026 | 2025 | ||||||||||||||||||||
| Net earnings (loss) | $ | 10.7 | $ | 12.1 | $ | (2.2) | $ | 44.3 | |||||||||||||||
| Income tax provision | (0.5) | (22.1) | 1.4 | (7.1) | |||||||||||||||||||
| Interest expense, net | 13.6 | 14.2 | 64.3 | 71.1 | |||||||||||||||||||
| Depreciation and amortization | 18.8 | 19.4 | 76.5 | 73.3 | |||||||||||||||||||
| EBITDA | 42.6 | 23.6 | 140.0 | 181.6 | |||||||||||||||||||
Restructuring and related costs (1) | 29.5 | 17.4 | 97.9 | 48.9 | |||||||||||||||||||
| Acquisition and integration costs | — | — | — | 0.5 | |||||||||||||||||||
| Sun Care reformulation costs | 1.0 | 1.3 | 4.4 | 3.5 | |||||||||||||||||||
| Legal matters | 1.8 | — | 7.5 | — | |||||||||||||||||||
| (Gain) loss on investment | 0.4 | — | (1.1) | (0.9) | |||||||||||||||||||
| Commercial realignment | — | (0.1) | (0.2) | 2.9 | |||||||||||||||||||
| Other project and related costs | 1.5 | 0.8 | 6.0 | 3.2 | |||||||||||||||||||
| Adjusted EBITDA | $ | 76.8 | $ | 43.0 | $ | 254.5 | $ | 239.7 | |||||||||||||||
(1) Excludes $0.4 million and $3.9 million of accelerated depreciation, which is included within Depreciation and amortization during the three and twelve months ended September 30, 2026, respectively and $0.6 million and $1.8 million during the three and twelve months ended September 30, 2025, respectively.
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Note 5 - Outlook for Continuing Operations
The following tables provide reconciliations of Adjusted EPS and Adjusted EBITDA, Non-GAAP measures, included within the Company's projected fiscal 2027 outlook for continuing operations. The below outlook reflects management’s approximate expectations and is subject to rounding adjustments. As a result, the sum of individual amounts may not precisely equal the totals presented.
| Adjusted EPS Outlook | ||||||||
| Fiscal 2027 GAAP EPS | approx. | $0.90 - $1.20 | ||||||
| Restructuring and related costs | approx. | 1.17 | ||||||
| Sun Care reformulation costs | approx. | 0.09 | ||||||
| Other costs | approx. | 0.02 | ||||||
Income taxes(1) | approx. | (0.33) | ||||||
| Fiscal 2027 Adjusted EPS Outlook (Non-GAAP) | approx. | $1.85 - $2.15 | ||||||
(1)Income tax effect of the adjustments to Fiscal 2027 GAAP EPS noted above.
| Adjusted EBITDA Outlook | ||||||||
| Fiscal 2027 GAAP Net Income | approx. | $42 - $57 | ||||||
| Income tax provision | approx. | $11 - $16 | ||||||
| Interest expense, net of $3 interest income | approx. | 64 | ||||||
| Depreciation and amortization | approx. | 73 | ||||||
| EBITDA | approx. | $190 - $210 | ||||||
Restructuring and related costs | approx. | 55 | ||||||
| Sun Care reformulation costs | approx. | 4 | ||||||
| Other costs | approx. | 1 | ||||||
| Fiscal 2027 Adjusted EBITDA | approx. | $250 - $270 | ||||||
15