Feminine Care sale and 2026 outlook at Edgewell (NYSE: EPC)
Filing Impact
Filing Sentiment
Form Type
8-K
Rhea-AI Filing Summary
Edgewell Personal Care Company reported first quarter fiscal 2026 results from continuing operations with net sales of $422.8 million, up 1.9% year over year, while GAAP diluted EPS was a loss of $(0.63) and adjusted EPS was $(0.16). Adjusted EBITDA from continuing operations was $25.0 million, down from $30.9 million a year earlier, as gross margin and operating margin compressed despite currency tailwinds and productivity savings.
The company completed the divestiture of its Feminine Care business for $340 million, now reported as discontinued operations, and ended the quarter with $223.3 million in cash and an adjusted net debt leverage ratio of 3.8x. Full‑year 2026 guidance for continuing operations keeps the prior outlook ranges, with reported net sales expected to grow about 0.5%–3.5%, GAAP EPS of $0.55–$0.95, adjusted EPS of $1.70–$2.10, and adjusted EBITDA of $245–$265 million, while restructuring charges are projected at approximately $65 million. Shareholders approved the 3rd Amended and Restated 2018 Stock Incentive Plan, adding 2,100,000 authorized shares for equity awards, and the board declared a quarterly dividend of $0.15 per share.
Positive
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Negative
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Insights
Edgewell posts softer Q1 margins, closes $340M divestiture, but reiterates full-year outlook on continuing operations.
Edgewell delivered modest top-line growth from continuing operations, with net sales up 1.9% to $422.8 million, but profitability weakened. GAAP EPS from continuing operations fell to a loss of $(0.63), and adjusted EPS slipped to $(0.16), reflecting lower gross margin and higher restructuring costs.
The company completed the $340 million Feminine Care divestiture, reporting that the estimated annualized impact is favorable to its previous outlook. Continuing-operations guidance for fiscal 2026 is reaffirmed, targeting adjusted EPS of $1.70–$2.10 and adjusted EBITDA of $245–$265 million, while absorbing about $65 million in restructuring and related charges.
Q1 adjusted EBITDA from continuing operations declined to $25.0 million versus $30.9 million a year earlier, and the adjusted net debt leverage ratio stood at 3.8x at December 31 2025. Future disclosures on execution of cost programs, divestiture-related transition services, and Wet Shave consolidation will help clarify how quickly margins can move toward the full-year outlook.
8-K Event Classification
5 items: 2.02, 5.02, 5.07, 7.01, 9.01
5 items
Item 2.02
Results of Operations and Financial Condition
Financial
Disclosure of earnings results, typically an earnings press release or preliminary financials.
Item 5.02
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers
Governance
Key personnel changes including departures, elections, or appointments of directors and executive officers.
Item 5.07
Submission of Matters to a Vote of Security Holders
Governance
Results of a shareholder vote on proposals at an annual or special meeting.
Item 7.01
Regulation FD Disclosure
Disclosure
Material non-public information disclosed under Regulation Fair Disclosure, often investor presentations or guidance.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
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): February 5, 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)
| 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 February 9, 2026, Edgewell Personal Care Company (the “Company”) issued a press release announcing financial and operating results for its first quarter of fiscal 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 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
At the 2026 Annual Meeting of Shareholders of the Company (the “Annual Meeting”), held on Thursday, February 5, 2026, the Company’s shareholders approved the adoption of the Edgewell Personal Care Company 3rd Amended and Restated 2018 Stock Incentive Plan (the “3rd A&R 2018 Plan”), which was adopted by the Board of Directors of the Company on November 6, 2025 and became effective on the date of approval by the Company’s shareholders.
The 3rd A&R 2018 Plan amends and restates the Edgewell Personal Care Company 2nd Amended and Restated 2018 Stock Incentive Plan and implements the following material changes:
(1)Increases the number of authorized shares by 2,100,000 shares;
(2)Eliminates the fungible share ratio for all new awards; and
(3)Eliminates provisions regarding awards intended to be qualified performance-based compensation under the previously repealed exception to the $1 million deduction limit under Section 162(m) of the Internal Revenue Code of 1986, as amended.
The 3rd A&R 2018 Plan is described in more detail in “Item 4. Approval of the Company’s 3rd Amended and Restated 2018 Stock Incentive Plan” in the Company’s definitive proxy statement on Schedule 14A filed with the Securities and Exchange Commission on December 22, 2025. The description of the 3rd A&R 2018 Plan contained herein and in the 2025 Proxy Statement do not purport to be complete and are qualified in their entirety by reference to the full text of the 3rd A&R 2018 Plan, a copy of which is filed as Exhibit 10.1 hereto and is incorporated herein by reference.
Item 5.07 Submission of Matters to a Vote of Security Holders.
As noted in Item 5.02, the Company held its Annual Meeting on Thursday, February 5, 2026. Of the 46,715,107 shares outstanding and entitled to vote at the Annual Meeting, 43,465,774 shares were represented in person or by proxy, constituting a quorum.
The final results for each of the matters submitted to a vote of shareholders at the Annual Meeting are as follows:
Proposal 1: Management's nominees for director were elected to serve until the Annual Meeting of Shareholders to be held in 2027 or until their respective successors are elected and qualified, as set forth in the table below:
Nominee | For | Against | Abstain | Broker Non-Votes | ||||||||||
Robert W. Black | 40,443,287 | 409,168 | 19,233 | 2,594,086 | ||||||||||
George R. Corbin | 40,443,431 | 412,808 | 15,449 | 2,594,086 | ||||||||||
Carla C. Hendra | 38,649,714 | 2,195,078 | 26,896 | 2,594,086 | ||||||||||
John C. Hunter, III | 40,235,255 | 618,599 | 17,834 | 2,594,086 | ||||||||||
Rod R. Little | 34,629,579 | 6,227,585 | 14,524 | 2,594,086 | ||||||||||
Rakesh Sachdev | 37,167,879 | 3,675,126 | 28,683 | 2,594,086 | ||||||||||
Swan Sit | 40,165,791 | 679,687 | 26,210 | 2,594,086 | ||||||||||
Stephanie Stahl | 40,232,871 | 613,791 | 25,026 | 2,594,086 | ||||||||||
Gary K. Waring | 40,201,209 | 650,221 | 20,258 | 2,594,086 | ||||||||||
Proposal 2: The appointment of PricewaterhouseCoopers LLP as the Company's independent registered public accounting firm for fiscal 2026 was ratified by the shareholders as set forth in the table below:
For | Against | Abstain | Broker Non-Votes | ||||||||
42,715,456 | 698,352 | 51,966 | |||||||||
Proposal 3: The approval, on an advisory (non-binding) basis, of the executive compensation paid to the Company’s named executive officers was approved by the shareholders as set forth in the table below:
For | Against | Abstain | Broker Non-Votes | ||||||||
31,787,030 | 9,020,992 | 63,666 | 2,594,086 | ||||||||
Proposal 4: The Company's 3rd Amended and Restated 2018 Stock Incentive Plan, as described in the Company's 2025 Proxy Statement, was approved by the shareholders as set forth in the table below:
For | Against | Abstain | Broker Non-Votes | ||||||||
34,771,839 | 6,061,275 | 38,574 | 2,594,086 | ||||||||
Item 7.01 Regulation FD Disclosure.
On February 9, 2026, the Company posted supplemental financial information relating to its recast continuing and discontinued operations for the fiscal year ended September 30, 2025 and interim periods within such fiscal year on its investor relations website at ir.edgewell.com. A copy of this supplemental financial information is furnished as Exhibit 99.2 hereto and incorporated herein by reference.
The information contained in this Current Report on Form 8-K under Item 7.01, including the accompanying Exhibit 99.2, is being furnished pursuant to Item 7.01 of Form 8-K and shall not be deemed to be "filed" for purposes of Section 18 of 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 7.01, including the accompanying Exhibit 99.2, 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 | ||||
| 10.1 | Edgewell Personal Care Company 3rd Amended and Restated 2018 Stock Incentive Plan. | ||||
| 99.1 | Press Release of Edgewell Personal Care Company, dated February 9, 2026. | ||||
| 99.2 | Supplemental Financial Information, dated February 9, 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: | February 9, 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 First Quarter Fiscal 2026 Results
Q1 performance ahead of expectations for Sales, Adjusted EPS and EBITDA
Successfully Completed Feminine Care Business Divestiture for $340 Million, Sharpening Portfolio Focus
Full Year Outlook for Continuing Operations Remains Consistent with Prior Outlook
Shelton, Conn - February 9, 2026 - Edgewell Personal Care Company (NYSE: EPC) today announced results for its first fiscal quarter 2026 ended December 31, 2025.
“We delivered a solid start to fiscal 2026. Our first quarter performance modestly exceeded our expectations for organic net sales, adjusted EPS and adjusted EBITDA(1). Alongside strong execution in our core businesses, we successfully completed the divestiture of Feminine Care, a pivotal milestone in our transformation journey that further sharpens our portfolio focus and strengthens our balance sheet. Importantly, the estimated annualized impact of the divestiture is expected to be favorable to our previous outlook,” said Rod Little, Edgewell’s President and Chief Executive Officer.
“After adjusting for the impact of the divestiture, our full year outlook for continuing operations is unchanged to our prior outlook for sales, adjusted EPS, adjusted EBITDA and free cash flow. Moving forward, as a more focused and agile company with a streamlined portfolio, we believe we are well-positioned to drive sustainable growth and create long-term shareholder value as we execute against our plan for fiscal 2026 and beyond.”
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. This presentation also includes discussions of certain metrics on a consolidated basis, which is inclusive of the Feminine Care business, to help investors assess performance compared to the Company’s prior financial outlook, which was done on a consolidated basis. 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 1Q 2026 Executive Summary
Consolidated Basis (Inclusive of the Feminine Care Business)
•Net Sales were $486.8 million, an increase of 1.8% compared to the prior year.
•Organic net sales decreased (0.3)% (Organic basis excludes the impact from currency movements).
•GAAP Diluted Net Earnings (Loss) Per Share ("EPS") were $(1.41), compared to $(0.04) in the prior year quarter.
•Adjusted EPS were $0.03, compared to $0.07 in the prior year quarter.
(1) First quarter guidance was provided on a consolidated basis, inclusive of Feminine Care.
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Continuing Operations Basis (Excluding the Feminine Care Business)
•Net sales were $422.8 million, an increase of 1.9% compared to the prior year quarter.
•Organic net sales decreased 0.5% (Organic basis excludes the impact from currency movements).
•GAAP Diluted Net Earnings (Loss) Per Share ("EPS") were $(0.63), compared to $(0.21) in the prior year quarter.
•Adjusted EPS were $(0.16), compared to $(0.10) in the prior year quarter.
Fiscal 1Q 2026 Operating Results From Continuing Operations (Unaudited)
Net sales were $422.8 million in the quarter, an increase of 1.9%, including a $9.6 million favorable impact from currency movements. Organic net sales decreased $1.9 million, or 0.5%. Organic sales growth in North America was 0.7%, driven by volume growth in Sun Care and Grooming, partially offset by lower volumes and unfavorable pricing in Wet Shave and Skin Care. Organic sales in international markets declined 1.6%, largely driven by volume declines in Sun Care and Wet Shave, primarily reflecting an anticipated change in the quarterly phasing of Wet Shave sales in Japan, and Sun Care sales in distributor markets.
Gross profit was $161.0 million, as compared to $172.5 million in the prior year quarter. Gross margin as a percent of net sales was 38.1%, a decrease of 350-basis points. Adjusted gross margin as a percent of net sales decreased 210-basis points, to 39.5% in the quarter. Productivity savings of approximately 240-basis points and favorable currency movements were more than offset by 450-basis points of core inflation, tariffs, volume absorption and 75-basis points of unfavorable mix and other.
Advertising and sales promotion expense ("A&P") was $45.6 million, or 10.8% of net sales, a decrease of $0.5 million, compared to $46.1 million, or 11.1% of net sales in the prior year quarter.
Selling, general and administrative expense ("SG&A") was $102.4 million, or 24.2% of net sales, as compared to $99.6 million, or 24.0% of net sales in the prior year quarter. Adjusted SG&A was 23.7% of net sales, compared to 23.6% in the prior year quarter, which was primarily driven by higher people costs and unfavorable currency impacts, partly offset by lower consulting and corporate expenses.
The Company recorded pre-tax restructuring and related charges in support of cost efficiency and effectiveness programs of $24.4 million in the quarter.
Operating (loss) income, was $(18.9) million, or (4.5)% of net sales, inclusive of a $4.4 million, or 110-basis points positive impact from favorable currency movements, compared to $9.3 million, or 2.2% of net sales in the prior year quarter. Adjusted operating income was $8.1 million, or 1.9% of net sales, compared to $15.9 million, or 3.8% of net sales in the prior year quarter.
Interest expense associated with debt was $19.3 million, compared to $18.8 million in the prior year quarter. The increase in interest expense was the result of higher borrowing levels on the Company’s U.S. revolving credit facility.
Other (income) expense, net was $(1.3) million compared to $3.2 million in the prior year quarter. Currency hedge and remeasurement losses were $0.9 million in the current quarter, compared to losses of $2.0 million in the prior year quarter. The current year quarter included $0.5 million of other project gains, compared to $1.8 million of expense in the prior year quarter. Adjusted other (income) expense, net was $0.7 million compared to $2.3 million in the prior year quarter.
The effective tax rate for the first three months of fiscal 2026 was 20.9% compared to 20.6% in the prior year period. Both periods reflect a tax benefit on a loss. The fiscal 2026 effective tax rate reflects more favorable discrete and unusual items resulting in a larger tax benefit compared to FY25. The adjusted effective tax rate for the three months of fiscal 2026 was 34.7% (tax benefit on a loss), down from the prior year period adjusted effective tax rate of 7.8% (tax benefit on a loss).
GAAP net (loss) earnings from continuing operations were $(29.2) million or $(0.63) per diluted share compared to $(10.1) million or $(0.21) per diluted share in the prior year quarter. Adjusted net earnings from continuing operations were $(7.6) million or $(0.16) per share, inclusive of a $0.07 per share of favorable currency impact, compared to $(4.8) million or $(0.10) per share in the prior year quarter. Adjusted EBITDA from continuing operations was $25.0 million, inclusive of a $5.8 million favorable currency impact, compared to $30.9 million in the prior year quarter. Adjusted EBITDA on a consolidated basis was $38.1 million.
Net cash used for operating activities on a consolidated basis, inclusive of continuing and discontinued operations was $125.9 million for the three months ending December 31, 2025, compared to $115.6 million in the prior year period. The increase in cash used for operating activities was largely driven by lower earnings. The first quarter ended with $223.3 million in cash on hand, access to an additional $142.5 million under the Company’s U.S. revolving credit facility available and an adjusted net debt leverage ratio of 3.8x.
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Capital Allocation
On February 5, 2026, the Board of Directors declared a quarterly cash dividend of $0.15 per common share for the first fiscal quarter of fiscal 2026. The dividend will be payable on April 8, 2026 to shareholders of record as the close of business on March 6, 2026. During the first quarter of fiscal 2026, the Company paid dividends totaling $7.4 million to stockholders. As of December 31, 2025, the Company had $100.0 million available for share repurchase in the future under the Board’s 2025 authorization.
Fiscal 1Q 2026 Operating Segment Results (Unaudited)
Wet Shave (Men's Systems, Women's Systems, Disposables, and Shave Preps)
Net sales decreased $3.2 million, or 1.1%. Organic net sales decreased $11.6 million or 3.9%. International markets declined as a result of unfavorable phasing of Wet Shave sales in Japan, as anticipated, partly offset by higher pricing while North America declined as a result of decreased volumes and increased promotional levels. Segment profit decreased $4.4 million, or 9.4%. Organic segment profit, excluding the favorable impact from currency, decreased $8.5 million, or 18.2%, as lower gross margins were partly offset by lower marketing and SG&A expenses.
Sun and Skin Care (Sun Care, Men’s and Women’s Grooming Products, and Wet Ones)
Net sales increased $10.9 million, or 9.0%. Organic net sales increased $9.7 million, or 8.0%, driven by 19.5% growth in Sun Care, primarily driven by higher volumes in North America. Grooming increased 6.8% driven by increased volumes, led by nearly 27% growth in Cremo. Segment loss increased $0.2 million, or 5.9%, including a favorable impact from foreign currency of $0.3 million, or 8.8%. Organic segment loss increased $0.5 million, or 14.7%, driven by higher marketing expenses, partly offset by higher gross profit.
Full Fiscal Year 2026 Financial Outlook
The Company is providing the following outlook assumptions for fiscal 2026. The previous outlook provided on November 13, 2025 was on a consolidated basis, including the Feminine Care business. The change from the prior outlook reflects the removal of the Feminine Care business. The revised full year outlook for continuing operations remains consistent with the prior outlook. Unless otherwise stated, this outlook is presented on a continuing-operations basis and excludes the results of the Feminine Care business, which is reported as discontinued operations. Prior periods have been recast for comparability. Timing effects are as follows: Continuing operations reflect twelve months of stranded costs, while transition support services income which commenced upon closing is expected to be recognized for approximately eight months of the fiscal year. Refer to Note 8 for a reconciliation of previous consolidated outlook to continuing operations outlook.
•Reported net sales are now expected to increase in the range of approximately 0.5% to 3.5% (no change to previous outlook)
◦Includes an estimated 150-basis point positive impact from foreign currency changes
•Organic net sales are expected to be in the range of a 1.0% decrease to a 2% increase (no change to previous outlook)
•GAAP EPS is expected to be in the range of $0.55 to $0.95 (previously $1.10 to $1.50 on a consolidated basis)
◦Includes: Restructuring and related costs*, Sun Care reformulation, Other costs
•Adjusted EPS is expected to be in the range of $1.70 to $2.10 (previously $2.15 to $2.55 on a consolidated basis)
◦Reflects a $0.44 per share reduction from classifying the Feminine Care business as discontinued operations. On an annualized basis, this impact would be approximately $0.20 per share, compared to the Company’s prior annualized outlook in the range of a $0.40 to $0.50 per share impact
•Adjusted gross margin is expected to increase approximately 60-basis points (no change to previous outlook). Adjusted operating margin is expected to decrease approximately 50-basis points (no change to previous outlook), reflecting 70-basis points from higher A&P investment in the current year and 30-basis points from increased SG&A expense reflecting lower incentive compensation in the prior year
•Adjusted EBITDA is expected to be in the range of $245 to $265 million (previously $290 to $310 million on a consolidated basis)
◦Reflects a $44 million reduction from classifying the Feminine Care business as discontinued operations. On an annualized basis, this impact would be approximately $36 million, compared to the Company’s prior annualized outlook in the range of a $35 million to $45 million impact
•Other Income/Expense, net is expected to be approximately $20 million, (previously flat on a consolidated basis) inclusive of interest income of $5 million (previously $2 million on a consolidated basis), and Transition Services Income in the range of $15 to $19 million
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•Interest expense associated with debt is now expected to be approximately $70 million (previously $73 million on a consolidated basis), as the proceeds from the Feminine Care transaction are expected to be used to pay down the balance of the Company’s U.S. revolving credit facility
•Adjusted effective tax rate is expected to be approximately 22% to 23% (previously 21% to 22% on a consolidated basis)
•Capital expenditures expected to be in the range of approximately 3.0% to 3.5% of net sales
•Adjusted free cash flow is expected to be approximately $80 to $110 million (previously $115 to $145 million on a consolidated basis)
As previously discussed, in fiscal 2026, 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. As a result of these actions, the Company expects to incur pre-tax charges of approximately $65 million (previously $49 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. 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
Refer to Supplemental Slides at www.edgewell.com, under the "Investors," and "News and Events" tabs or by using the following link by using the following link http://ir.edgewell.com/news-and-events/events for historical financial information related to Company’s divestiture of its Feminine Care business consistent with the continuing operations structure.
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.
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 6,200 employees worldwide.
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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; our capital allocation plans; our strategy, including sharpening our portfolio focus; impacts from the divestiture of our Feminine Care segment; our ability to drive sustainable growth and long-term shareholder value; and the effects of macroeconomic factors such as changes in tariffs and currency movements. 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; 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 the expected share repurchases and dividend payment; 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 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.
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 or non-recurring 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 2026 financial outlook, are included within the Notes to Condensed Consolidated Financial Statements included with this release.
5
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. Free cash flow conversion is defined as free cash flow as a percentage of net earnings adjusted for the net impact of non-cash impairments.
•Net debt is defined as Gross debt less cash. Adjusted net debt is adjusted for anticipated net proceeds from sale of Feminine Care business to provide a normal comparison to continuing operations adjusted EBITDA. Net debt leverage ratio is defined as net debt divided by trailing twelve month adjusted EBITDA. Adjusted net debt leverage ratio is defined as adjusted net debt divided by continuing operations trailing twelve month adjusted EBITDA and $26 million income from pro forma twelve month Transition Services. Refer to Supplemental Slides for fiscal year 2025 quarterly recast adjusted EBITDA reconciliation for continuing operations.
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 December 31, 2025 and 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.
Please refer to the Form 10-Q filed with the SEC on February 9, 2026.
6
EDGEWELL PERSONAL CARE COMPANY
CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS
(unaudited, in millions, except per share data)
| Three Months Ended December 31, | ||||||||||||||
| 2025 | 2024 | |||||||||||||
| Net sales | $ | 422.8 | $ | 415.1 | ||||||||||
| Cost of products sold | 261.8 | 242.6 | ||||||||||||
| Gross profit | 161.0 | 172.5 | ||||||||||||
| Selling, general and administrative expense | 102.4 | 99.6 | ||||||||||||
| Advertising and sales promotion expense | 45.6 | 46.1 | ||||||||||||
| Research and development expense | 13.8 | 13.4 | ||||||||||||
| Restructuring charges | 18.1 | 4.1 | ||||||||||||
| Operating (loss) income | (18.9) | 9.3 | ||||||||||||
| Interest expense associated with debt | 19.3 | 18.8 | ||||||||||||
| Other (income) expense, net | (1.3) | 3.2 | ||||||||||||
| Loss from continuing operations before income taxes | (36.9) | (12.7) | ||||||||||||
| Income tax benefit on continuing operations | (7.7) | (2.6) | ||||||||||||
| Net loss from continuing operations | (29.2) | (10.1) | ||||||||||||
| (Loss) earnings from discontinued operations, net of tax | (36.5) | 8.0 | ||||||||||||
| Net loss | $ | (65.7) | $ | (2.1) | ||||||||||
| Basic earnings (loss) per share: | ||||||||||||||
| Continuing operations | $ | (0.63) | $ | (0.21) | ||||||||||
| Discontinued operations | (0.78) | 0.17 | ||||||||||||
| Basic loss per share | $ | (1.41) | $ | (0.04) | ||||||||||
| Diluted earnings (loss) per share: | ||||||||||||||
| Continuing operations | $ | (0.63) | $ | (0.21) | ||||||||||
| Discontinued operations | (0.78) | 0.17 | ||||||||||||
| Diluted loss per share | $ | (1.41) | $ | (0.04) | ||||||||||
| Weighted-average shares outstanding: | ||||||||||||||
| Basic | 46.6 | 48.7 | ||||||||||||
| Diluted | 46.6 | 48.7 | ||||||||||||
See Accompanying Notes.
7
EDGEWELL PERSONAL CARE COMPANY
CONDENSED CONSOLIDATED BALANCE SHEETS
(unaudited, in millions)
| December 31, 2025 | September 30, 2025 | ||||||||||
| Assets | |||||||||||
| Current assets | |||||||||||
| Cash and cash equivalents | $ | 223.3 | $ | 225.7 | |||||||
Trade receivables, less allowance for doubtful accounts of $4.5 and $4.8 | 154.0 | 137.8 | |||||||||
| Inventories | 461.2 | 433.8 | |||||||||
| Other current assets | 161.6 | 138.6 | |||||||||
| Current assets held for sale | 57.0 | 59.6 | |||||||||
| Total current assets | 1,057.1 | 995.5 | |||||||||
| Property, plant and equipment, net | 292.5 | 295.0 | |||||||||
| Goodwill | 1,137.4 | 1,137.1 | |||||||||
| Other intangible assets, net | 821.8 | 828.2 | |||||||||
| Other assets | 179.1 | 178.7 | |||||||||
| Non-current assets held for sale | 280.0 | 321.8 | |||||||||
| Total assets | $ | 3,767.9 | $ | 3,756.3 | |||||||
| Liabilities and Shareholders’ Equity | |||||||||||
| Current liabilities | |||||||||||
| Notes payable | $ | 32.5 | $ | 29.5 | |||||||
| Accounts payable | 213.1 | 219.7 | |||||||||
| Other current liabilities | 247.9 | 311.1 | |||||||||
| Current liabilities held for sale | 4.0 | 5.2 | |||||||||
| Total current liabilities | 497.5 | 565.5 | |||||||||
| Long-term debt | 1,520.8 | 1,383.3 | |||||||||
| Deferred income tax liabilities | 118.3 | 118.8 | |||||||||
| Other liabilities | 145.1 | 135.6 | |||||||||
| Non-current liabilities held for sale | — | — | |||||||||
| Total liabilities | 2,281.7 | 2,203.2 | |||||||||
| Shareholders’ equity | |||||||||||
Common shares, $0.01 par value | 0.7 | 0.7 | |||||||||
| Additional paid-in capital | 1,560.6 | 1,578.8 | |||||||||
| Retained earnings | 1,014.0 | 1,086.7 | |||||||||
| Common shares in treasury at cost | (984.6) | (1,003.3) | |||||||||
| Accumulated other comprehensive loss | (104.5) | (109.8) | |||||||||
| Total shareholders’ equity | 1,486.2 | 1,553.1 | |||||||||
| Total liabilities and shareholders’ equity | $ | 3,767.9 | $ | 3,756.3 | |||||||
See Accompanying Notes.
8
EDGEWELL PERSONAL CARE COMPANY
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(unaudited, in millions)
| Three Months Ended December 31, | |||||||||||
| 2025 | 2024 | ||||||||||
| Cash Flow from Operating Activities | |||||||||||
| Net loss | $ | (65.7) | $ | (2.1) | |||||||
| Depreciation and amortization | 21.3 | 21.7 | |||||||||
| Share-based compensation expense | 3.4 | 6.1 | |||||||||
| Loss on sale of assets | — | 1.4 | |||||||||
| Impairment charges | 37.4 | — | |||||||||
| Loss on assets held for sale | 3.8 | — | |||||||||
| Deferred compensation payments | (0.2) | (0.2) | |||||||||
| Deferred income taxes | (0.9) | 0.2 | |||||||||
| Other, net | 12.5 | 2.3 | |||||||||
| Changes in operating assets and liabilities | (137.5) | (145.0) | |||||||||
| Net cash used for operating activities | (125.9) | (115.6) | |||||||||
| Cash Flow from Investing Activities | |||||||||||
| Capital expenditures | (11.6) | (16.8) | |||||||||
| Collection of deferred purchase price on accounts receivable sold | 1.7 | 1.1 | |||||||||
| Net cash used for investing activities | (9.9) | (15.7) | |||||||||
| Cash Flow from Financing Activities | |||||||||||
| Cash proceeds from debt with original maturities greater than 90 days | 292.0 | 369.0 | |||||||||
| Cash payments on debt with original maturities greater than 90 days | (155.0) | (204.0) | |||||||||
| Proceeds from debt with original maturities of 90 days or less | 2.4 | 3.7 | |||||||||
| Repurchase of shares | — | (30.3) | |||||||||
| Dividends to common shareholders | (7.4) | (7.9) | |||||||||
| Net financing inflow (outflow) from the Accounts Receivable Facility | 4.3 | (13.3) | |||||||||
| Employee shares withheld for taxes | (2.8) | (7.3) | |||||||||
| Other, net | (0.1) | — | |||||||||
| Net cash provided by financing activities | 133.4 | 109.9 | |||||||||
| Effect of exchange rate changes on cash | 0.0 | (12.2) | |||||||||
| Net decrease in cash and cash equivalents | (2.4) | (33.6) | |||||||||
| Cash and cash equivalents, beginning of period | 225.7 | 209.1 | |||||||||
| Cash and cash equivalents, end of period | $ | 223.3 | $ | 175.5 | |||||||
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 December 31, | |||||||||||
| 2025 | 2024 | ||||||||||
| Net Sales | |||||||||||
| Wet Shave | $ | 291.3 | $ | 294.5 | |||||||
| Sun and Skin Care | 131.5 | 120.6 | |||||||||
| Total net sales | $ | 422.8 | $ | 415.1 | |||||||
| Segment Profit | |||||||||||
| Wet Shave | $ | 42.2 | $ | 46.6 | |||||||
| Sun and Skin Care | (3.6) | (3.4) | |||||||||
| Total segment profit | 38.6 | 43.2 | |||||||||
| General corporate and other expenses | (24.1) | (20.9) | |||||||||
| Amortization of intangibles | (6.4) | (6.4) | |||||||||
| Interest and other expense, net | (20.0) | (21.1) | |||||||||
| Restructuring and related charges | (24.4) | (4.1) | |||||||||
| Acquisition and integration costs | — | (0.5) | |||||||||
| Sun Care reformulation costs | (1.0) | (1.0) | |||||||||
| Legal matters | (1.0) | — | |||||||||
| Gain on investment | 1.5 | 0.9 | |||||||||
| Other project and related costs | (0.1) | (2.8) | |||||||||
| Total earnings before income taxes | $ | (36.9) | $ | (12.7) | |||||||
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 December 31, 2025 | |||||||||||||||||||||||||||||||||||||||||
| Gross Profit | SG&A | Operating (Loss) Income | EBIT (Loss) from Continuing Operations (1) | Income Tax Provision (Benefit) from Continuing Operations | Net Loss from Continuing Operations | Diluted EPS from Continuing Operations | |||||||||||||||||||||||||||||||||||
| GAAP — Reported | $ | 161.0 | $ | 102.4 | $ | (18.9) | $ | (36.9) | $ | (7.7) | $ | (29.2) | $ | (0.63) | |||||||||||||||||||||||||||
| Restructuring and related costs | 5.8 | (0.5) | 24.4 | 24.4 | 6.0 | 18.4 | 0.40 | ||||||||||||||||||||||||||||||||||
| Sun Care reformulation costs | — | — | 1.0 | 1.0 | 0.2 | 0.8 | 0.02 | ||||||||||||||||||||||||||||||||||
| Gain on investment | — | — | — | (1.5) | (0.3) | (1.2) | (0.03) | ||||||||||||||||||||||||||||||||||
| Legal matter | — | (1.0) | 1.0 | 1.0 | 0.2 | 0.8 | 0.02 | ||||||||||||||||||||||||||||||||||
| Other project and related costs | — | (0.6) | 0.6 | 0.1 | — | 0.1 | — | ||||||||||||||||||||||||||||||||||
| Tax shortfall on equity compensation | — | — | — | — | (2.7) | 2.7 | 0.06 | ||||||||||||||||||||||||||||||||||
| Total Adjusted Non-GAAP | $ | 166.8 | $ | 100.3 | $ | 8.1 | $ | (11.9) | $ | (4.3) | $ | (7.6) | $ | (0.16) | |||||||||||||||||||||||||||
| Adjusted Non-GAAP Constant Currency | (0.23) | ||||||||||||||||||||||||||||||||||||||||
| GAAP as a percent of net sales | 38.1 | % | 24.2 | % | (4.5) | % | GAAP effective tax rate | 20.9 | % | ||||||||||||||||||||||||||||||||
| Adjusted as a percent of net sales | 39.5 | % | 23.7 | % | 1.9 | % | Adjusted effective tax rate | 34.7 | % | ||||||||||||||||||||||||||||||||
| Adjusted Constant Currency as a percent of net sales | 38.7 | % | 0.8 | % | — | ||||||||||||||||||||||||||||||||||||
| Three Months Ended December 31, 2024 | |||||||||||||||||||||||||||||||||||||||||
| Gross Profit | SG&A | Operating Income | EBIT (Loss) from Continuing Operations (1) | Income Taxes from Continuing Operations | Net Loss from Continuing Operations | Diluted EPS from Continuing Operations | |||||||||||||||||||||||||||||||||||
| GAAP — Reported | $ | 172.5 | $ | 99.6 | $ | 9.3 | $ | (12.7) | $ | (2.6) | $ | (10.1) | $ | (0.21) | |||||||||||||||||||||||||||
| Restructuring and related costs | — | — | 4.1 | 4.1 | 1.0 | 3.1 | 0.07 | ||||||||||||||||||||||||||||||||||
| Acquisition and integration costs | — | (0.5) | 0.5 | 0.5 | 0.1 | 0.4 | 0.01 | ||||||||||||||||||||||||||||||||||
| Sun Care reformulation costs | — | — | 1.0 | 1.0 | 0.3 | 0.7 | 0.01 | ||||||||||||||||||||||||||||||||||
| Gain on investment | — | — | — | (0.9) | — | (0.9) | (0.02) | ||||||||||||||||||||||||||||||||||
| Other project and related costs | — | (1.0) | 1.0 | 2.8 | 0.8 | 2.0 | 0.04 | ||||||||||||||||||||||||||||||||||
| Total Adjusted Non-GAAP | $ | 172.5 | $ | 98.1 | $ | 15.9 | $ | (5.2) | $ | (0.4) | $ | (4.8) | $ | (0.10) | |||||||||||||||||||||||||||
| GAAP as a percent of net sales | 41.6 | % | 24.0 | % | 2.2 | % | GAAP effective tax rate | 20.6 | % | ||||||||||||||||||||||||||||||||
| Adjusted as a percent of net sales | 41.6 | % | 23.6 | % | 3.8 | % | Adjusted effective tax rate | 7.8 | % | ||||||||||||||||||||||||||||||||
(1) EBIT is defined as Loss from continuing operations before income taxes.
11
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 (loss) for the three months ended December 31, 2025, as compared to the corresponding period in the prior year quarter.
| Net Sales | |||||||||||||||||||||||||||||||||||
Quarter ended December 31, 2025 | |||||||||||||||||||||||||||||||||||
| Wet Shave | Sun and Skin Care | Total | |||||||||||||||||||||||||||||||||
| Net Sales - Q1 2025 | $ | 294.5 | $ | 120.6 | $ | 415.1 | |||||||||||||||||||||||||||||
| Organic | (11.6) | (3.9) | % | 9.7 | 8.0 | % | (1.9) | (0.5) | % | ||||||||||||||||||||||||||
| Impact of currency | 8.4 | 2.8 | % | 1.2 | 1.0 | % | 9.6 | 2.4 | % | ||||||||||||||||||||||||||
| Net Sales - Q1 2026 | $ | 291.3 | (1.1) | % | $ | 131.5 | 9.0 | % | $ | 422.8 | 1.9 | % | |||||||||||||||||||||||
| Segment Profit | |||||||||||||||||||||||||||||||||||
Quarter Ended December 31, 2025 | |||||||||||||||||||||||||||||||||||
| Wet Shave | Sun and Skin Care | Total | |||||||||||||||||||||||||||||||||
| Segment Profit (Loss) - Q1 2025 | $ | 46.6 | $ | (3.4) | $ | 43.2 | |||||||||||||||||||||||||||||
| Organic | (8.5) | (18.2) | % | (0.5) | 14.7 | % | (9.0) | (20.7) | % | ||||||||||||||||||||||||||
| Impact of currency | 4.1 | 8.8 | % | 0.3 | (8.8) | % | 4.4 | 10.1 | % | ||||||||||||||||||||||||||
| Segment Profit (Loss) - Q1 2026 | $ | 42.2 | (9.4) | % | $ | (3.6) | 5.9 | % | $ | 38.6 | (10.6) | % | |||||||||||||||||||||||
For all tables, the impact of currency to segment profit includes both the translational and transactional currency changes during the quarter.
12
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.
| December 31, 2025 | September 30, 2025 | ||||||||||
| Notes payable | $ | 32.5 | $ | 29.5 | |||||||
| Long-term debt | 1,520.8 | 1,383.3 | |||||||||
| Gross debt | 1,553.3 | 1,412.8 | |||||||||
| Less: Cash and cash equivalents | 223.3 | 225.7 | |||||||||
| Net debt | 1,330.0 | 1,187.1 | |||||||||
| Less: Expected proceeds from sale of Feminine Care business | 340.0 | — | |||||||||
| Adjusted net debt | $ | 990.0 | $ | 1,187.1 | |||||||
| Three Months Ended December 31, | |||||||||||
| 2025 | 2024 | ||||||||||
| Net earnings | $ | (29.2) | $ | (10.1) | |||||||
| Income tax benefit | (7.7) | (2.6) | |||||||||
Interest expense, net | 18.8 | 18.3 | |||||||||
| Depreciation and amortization | 20.0 | 17.8 | |||||||||
| EBITDA | 1.9 | 23.4 | |||||||||
Restructuring and related charges (1) | 22.5 | 4.1 | |||||||||
| Acquisition & integration costs | — | 0.5 | |||||||||
| Sun Care reformulation costs | 1.0 | 1.0 | |||||||||
| Legal matter | 1.0 | — | |||||||||
| Gain on investment | (1.5) | (0.9) | |||||||||
| Other project and related costs | 0.1 | 2.8 | |||||||||
| Adjusted EBITDA | $ | 25.0 | $ | 30.9 | |||||||
(1) Excludes $1.9 million of accelerated depreciation, which is included within Depreciation and amortization during the three months ended December 31, 2025.
13
Note 5 - Discontinued Operations
The following table presents the financial results of Feminine Care included in (Loss) earnings from discontinued operations, net of tax for the three months ended December 31, 2025 and 2024:
| Three Months Ended December 31, | |||||||||||
| 2025 | 2024 | ||||||||||
| Net sales | $ | 64.0 | $ | 63.3 | |||||||
| Cost of products sold | 48.0 | 44.2 | |||||||||
| Gross profit | 16.0 | 19.1 | |||||||||
| Selling, general and administrative expense | 12.5 | 3.3 | |||||||||
| Advertising and sales promotion expense | 2.0 | 4.2 | |||||||||
| Research and development expense | 0.6 | 0.5 | |||||||||
| Restructuring charges | 0.2 | 0.1 | |||||||||
| Impairment charges | 37.4 | — | |||||||||
| Operating income | (36.7) | 11.0 | |||||||||
| Loss on assets held for sale | 3.8 | — | |||||||||
| (Loss) earnings from discontinued operations before income taxes | (40.5) | 11.0 | |||||||||
| Income tax (benefit) expense on discontinued operations | (4.0) | 3.0 | |||||||||
| (Loss) earnings from discontinued operations, net of tax | $ | (36.5) | $ | 8.0 | |||||||
The following table presents changes in net sales for the three months ended December 31, 2025, as compared to the corresponding period in the prior year quarter related to discontinued operations.
Net Sales Quarter ended December 31, 2025 | Discontinued Operations | ||||||||||
| Net Sales - Q1 2025 | $ | 63.3 | |||||||||
| Organic | 0.7 | 1.1 | % | ||||||||
| Impact of currency | — | — | % | ||||||||
| Net Sales - Q1 2026 | $ | 64.0 | 1.1 | % | |||||||
14
The following tables provide a GAAP to Non-GAAP reconciliation related to discontinued operations:
| Gross Profit | SG&A | Operating income | EBIT (Loss) from Discontinued Operations | Income Taxes (Benefit) from Discontinued Operations | Net Earnings from Discontinued Operations | Diluted EPS from Discontinued Operations | |||||||||||||||||||||||||||||||||||
| December 31, 2025 | |||||||||||||||||||||||||||||||||||||||||
| GAAP — Reported | $ | 16.0 | $ | 12.5 | (36.7) | (40.5) | $ | (4.0) | $ | (36.5) | $ | (0.78) | |||||||||||||||||||||||||||||
| Restructuring and related costs | — | — | 0.2 | 0.2 | — | 0.2 | 0.00 | ||||||||||||||||||||||||||||||||||
| Impairment charges | — | — | 37.4 | 37.4 | 3.2 | 34.2 | 0.73 | ||||||||||||||||||||||||||||||||||
| Loss on sale | — | — | — | 3.8 | 0.9 | 2.9 | 0.06 | ||||||||||||||||||||||||||||||||||
| Vendor bankruptcy | 0.7 | — | 0.7 | 0.7 | 0.2 | 0.5 | 0.01 | ||||||||||||||||||||||||||||||||||
| Feminine Care divestiture costs | — | (10.2) | 10.2 | 10.2 | 2.5 | 7.7 | 0.17 | ||||||||||||||||||||||||||||||||||
| Total Adjusted Non-GAAP | $ | 16.7 | $ | 2.3 | $ | 11.8 | $ | 11.8 | $ | 2.8 | $ | 9.0 | $ | 0.19 | |||||||||||||||||||||||||||
| December 31, 2024 | |||||||||||||||||||||||||||||||||||||||||
| GAAP — Reported | $ | 19.1 | $ | 3.3 | 11.0 | 11.0 | $ | 3.0 | $ | 8.0 | $ | 0.17 | |||||||||||||||||||||||||||||
| Restructuring and related costs | — | — | 0.1 | 0.1 | — | 0.1 | 0.00 | ||||||||||||||||||||||||||||||||||
| Total Adjusted Non-GAAP | $ | 19.1 | $ | 3.3 | $ | 11.1 | $ | 11.1 | $ | 3.0 | $ | 8.1 | $ | 0.17 | |||||||||||||||||||||||||||
The Company reports financial results on a GAAP and adjusted basis. The table below is used to reconcile Net earnings to EBITDA and Adjusted EBITDA, which are non-GAAP measures, to improve comparability of results between periods related to discontinued operations.
| Three Months Ended December 31, 2025 | |||||
| Net earnings from discontinued operations | $ | (36.5) | |||
| Income tax benefit | (4.0) | ||||
Interest expense, net | — | ||||
| Depreciation and amortization | 1.3 | ||||
| EBITDA from discontinued operations | (39.2) | ||||
| Restructuring and related charges | 0.2 | ||||
| Vendor bankruptcy | 0.7 | ||||
| Impairment charges | 37.4 | ||||
| Feminine Care divestiture costs | 10.2 | ||||
| Loss on sale | 3.8 | ||||
| Adjusted EBITDA from discontinued operations | $ | 13.1 | |||
15
Note 6 - Consolidated Operations
The following table presents changes in net sales for the three months ended December 31, 2025, as compared to the corresponding period in the prior year quarter.
| Net Sales | |||||||||||||||||||||||||||||||||||
Quarter ended December 31, 2025 | |||||||||||||||||||||||||||||||||||
| Continuing Operations | Discontinued Operations | Consolidated | |||||||||||||||||||||||||||||||||
| Net Sales - Q1 2025 | $ | 415.1 | $ | 63.3 | $ | 478.4 | |||||||||||||||||||||||||||||
| Organic | (1.9) | (0.5) | % | 0.7 | 1.1 | % | (1.2) | (0.3) | % | ||||||||||||||||||||||||||
| Impact of currency | 9.6 | 2.4 | % | — | — | % | 9.6 | 2.1 | % | ||||||||||||||||||||||||||
| Net Sales - Q1 2026 | $ | 422.8 | 1.9 | % | $ | 64.0 | 1.1 | % | $ | 486.8 | 1.8 | % | |||||||||||||||||||||||
The following tables provide a GAAP to Non-GAAP reconciliation related to consolidated operations:
| Three Months Ended December 31, 2025 | |||||||||||||||||||||||||||||||||||||||||
| Gross Profit | SG&A | Operating Income | EBIT (Loss) | Income Taxes Provision (Benefit) | Net (Loss) Income | Diluted EPS | |||||||||||||||||||||||||||||||||||
| GAAP — Reported | $ | 177.0 | $ | 114.9 | $ | (55.6) | $ | (77.4) | $ | (11.7) | $ | (65.7) | $ | (1.41) | |||||||||||||||||||||||||||
| Restructuring and related costs | 5.8 | (0.5) | 24.6 | 24.6 | 6.0 | 18.6 | 0.40 | ||||||||||||||||||||||||||||||||||
| Sun Care reformulation costs | — | — | 1.0 | 1.0 | 0.2 | 0.8 | 0.02 | ||||||||||||||||||||||||||||||||||
| Gain on investment | — | — | — | (1.5) | (0.3) | (1.2) | (0.03) | ||||||||||||||||||||||||||||||||||
| Legal matter | — | (1.0) | 1.0 | 1.0 | 0.2 | 0.8 | 0.02 | ||||||||||||||||||||||||||||||||||
| Vendor bankruptcy | 0.7 | — | 0.7 | 0.7 | 0.2 | 0.5 | 0.01 | ||||||||||||||||||||||||||||||||||
| Other project and related costs | — | (0.6) | 0.6 | 0.1 | — | 0.1 | 0.00 | ||||||||||||||||||||||||||||||||||
| Impairment charges | — | — | 37.4 | 37.4 | 3.2 | 34.2 | 0.73 | ||||||||||||||||||||||||||||||||||
| Loss on sale | — | — | — | 3.8 | 0.9 | 2.9 | 0.06 | ||||||||||||||||||||||||||||||||||
| Feminine Care divestiture costs | — | (10.2) | 10.2 | 10.2 | 2.5 | 7.7 | 0.17 | ||||||||||||||||||||||||||||||||||
| Tax shortfall on equity compensation | — | — | — | — | (2.7) | 2.7 | 0.06 | ||||||||||||||||||||||||||||||||||
| Total Adjusted Non-GAAP | $ | 183.5 | $ | 102.6 | $ | 19.9 | $ | (0.1) | $ | (1.5) | $ | 1.4 | $ | 0.03 | |||||||||||||||||||||||||||
| Three Months Ended December 31, 2024 | |||||||||||||||||||||||||||||||||||||||||
| Gross Profit | SG&A | Operating Income | EBIT (Loss) | Income Taxes Provision (Benefit) | Net (Loss) Income | Diluted EPS | |||||||||||||||||||||||||||||||||||
| GAAP — Reported | $ | 191.6 | $ | 102.9 | $ | 20.3 | $ | (1.7) | $ | 0.4 | $ | (2.1) | $ | (0.04) | |||||||||||||||||||||||||||
| Restructuring and related costs | — | — | 4.2 | 4.2 | 1.0 | 3.2 | 0.07 | ||||||||||||||||||||||||||||||||||
| Acquisition and integration costs | — | (0.5) | 0.5 | 0.5 | 0.1 | 0.4 | 0.01 | ||||||||||||||||||||||||||||||||||
| Sun Care reformulation costs | — | — | 1.0 | 1.0 | 0.3 | 0.7 | 0.01 | ||||||||||||||||||||||||||||||||||
| Gain on investment | — | — | — | (0.9) | — | (0.9) | (0.02) | ||||||||||||||||||||||||||||||||||
| Other project and related costs | — | (1.0) | 1.0 | 2.8 | 0.8 | 2.0 | 0.04 | ||||||||||||||||||||||||||||||||||
| Total Adjusted Non-GAAP | $ | 191.6 | $ | 101.4 | $ | 27.0 | $ | 5.9 | $ | 2.6 | $ | 3.3 | $ | 0.07 | |||||||||||||||||||||||||||
16
The Company reports financial results on a GAAP and adjusted basis. The table below is used to reconcile Net earnings to EBITDA and Adjusted EBITDA, which are non-GAAP measures, to improve comparability of results between periods related to consolidated operations.
| Three Months Ended December 31, 2025 | |||||
| Net earnings | $ | (65.7) | |||
| Income tax benefit | (11.7) | ||||
Interest expense, net | 18.8 | ||||
| Depreciation and amortization | 21.3 | ||||
| EBITDA | (37.3) | ||||
| Restructuring and related costs | 22.7 | ||||
| Sun Care reformulation costs | 1.0 | ||||
| Gain on investment | (1.5) | ||||
| Legal matter | 1.0 | ||||
| Vendor bankruptcy | 0.7 | ||||
| Other project and related costs | 0.1 | ||||
| Impairment charges | 37.4 | ||||
| Feminine Care divestiture costs | 10.2 | ||||
| Loss on sale | 3.8 | ||||
| Adjusted EBITDA | $ | 38.1 | |||
Note 7 - 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 2026 outlook for continuing operations. The below outlook reflects management’s approximate expectations and are subject to rounding adjustments. As a result, the sum of individual amounts may not precisely equal the totals presented.
| Adjusted EPS Outlook | ||||||||
| Fiscal 2026 GAAP EPS | approx. | $0.55 - $0.95 | ||||||
| Restructuring and related costs | approx. | 1.40 | ||||||
| Sun Care reformulation costs | approx. | 0.11 | ||||||
| Legal Matter | approx. | 0.02 | ||||||
| Gain on Investment | approx. | (0.03) | ||||||
| Other costs | approx. | 0.08 | ||||||
Income taxes(1) | approx. | (0.43) | ||||||
| Fiscal 2026 Adjusted EPS Outlook (Non-GAAP) | approx. | $1.70 - $2.10 | ||||||
(1)Income tax effect of the adjustments to Fiscal 2026 GAAP EPS noted above.
17
| Adjusted EBITDA Outlook | ||||||||
| Fiscal 2026 GAAP Net Income | approx. | $25 - $45 | ||||||
| Income tax provision | approx. | 7 | ||||||
| Interest expense, net of $5 interest income | approx. | 65 | ||||||
| Depreciation and amortization | approx. | 77 | ||||||
| EBITDA | approx. | $174 - $194 | ||||||
Restructuring and related costs (2) | approx. | 63 | ||||||
| Sun Care reformulation costs | approx. | 5 | ||||||
| Legal Matter | approx. | 1 | ||||||
| Gain on Investment | approx. | -1 | ||||||
| Other costs | approx. | 4 | ||||||
| Fiscal 2026 Adjusted EBITDA | approx. | $245 - $265 | ||||||
(2) Excludes accelerated depreciation, which is included within Depreciation and amortization.
Note 8 - Previous Consolidated Outlook to Continuing Operations Outlook Reconciliation
The following tables provide reconciliations for Adjusted EPS and Adjusted EBITDA for comparison purposes to the Company’s November outlook, only. The below outlook reflects management’s approximate expectations, subject to rounding adjustments. As a result, the sum of individual amounts may not precisely equal the totals presented.
| FULL-FISCAL YEAR 2026 ADJ. EBITDA OUTLOOK RECONCILIATION | Fiscal Year 2026 | Annualized * | |||||||||
| November Adjusted EBITDA Outlook $290 to $310 million | $ | 300 | mid-point | $ | 300 | ||||||
| 2025 Discontinued Operations (12 months) | (61) | (61) | |||||||||
| Estimated Transition Services (8 months) | 17 | 26 | |||||||||
| Current Continuing Ops Adjusted EBITDA Outlook $245 to $265 million | $ | 255 | mid-point | $ | 265 | ||||||
| Change to prior outlook (previously $35 to $45 million annual) | $ | (44) | $ | (36) | |||||||
| FULL-FISCAL YEAR 2026 ADJ. EPS OUTLOOK RECONCILIATION | Fiscal Year 2026 | Annualized * | |||||||||
| November Adjusted EPS Outlook $2.15 to $2.55 | $ | 2.35 | mid-point | $ | 2.35 | ||||||
2025 Discontinued Operations (12 months)(3) | (0.91) | (0.91) | |||||||||
| 2026 Estimated Transition Services (8 months) | 0.31 | 0.47 | |||||||||
| 2026 Efficiencies - Interest and Amortization improvement (8 months) | 0.17 | 0.25 | |||||||||
| Current Continuing Ops Adjusted EPS Outlook $1.70 to $2.10 | $ | 1.90 | mid-point | $ | 2.15 | ||||||
| Change vs. prior outlook (previously $0.40 to $0.50 adj. EPS annual) | $ | (0.44) | $ | (0.20) | |||||||
(3) Includes 2025 Discontinued Operations Adjusted EPS impact ($0.71) and impact of tax allocation recast on continuing operations in 2025 ($0.20).
18
PAGE 1 Q1 Fiscal Year 2026 Supplemental Slides Supplemental Information Related to Company’s Divestiture of its Feminine Care Business
PAGE 2 Forward-looking statements This presentation 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. Forward-looking statements generally can 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; 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 the expected share repurchases and dividend payment; 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 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. The recast financial results for periods in fiscal 2025 as presented herein, other than with respect to the first quarter of fiscal 2025, are preliminary and subject to change based on the completion of closing and review procedures and the execution of the Company’s internal control over financial reporting.
PAGE 3 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 or non-recurring 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 2026 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. These non-GAAP financial measures, however, have limitations as analytical tools, and should not be considered in isolation from, a substitute for, or superior to, the related financial information that the Company reports in accordance with GAAP. Furthermore, such non-GAAP measures may not be consistent with similar measures provided or used by other companies. Investors are encouraged to review the definitions and reconciliations of these non-GAAP financial measures to their most comparable GAAP financial measures included in the footnotes and appendix of this presentation, and not to rely on any single financial measure to evaluate the Company’s businesses. The definitions, calculations and reconciliations of these non-GAAP measures to the most directly comparable financial measures calculated and presented in accordance with U.S. GAAP can be found in the Notes to Condensed Consolidated Financial Statements in the Company’s earnings release for the first quarter of the 2026 fiscal year which can be found on the Company’s Investor Relations website at http://ir.edgewell.com and Item 2 of the Company’s Quarterly Report on Form 10-Q filed with the SEC on February 9, 2026.
PAGE 4 Fiscal Year 2025 Recast Continuing Operations Financial Information (Unaudited)
PAGE 5 Fiscal Year 2025 (“FY25”) Recast Continuing Operations Financial Information (Unaudited, $ in millions) Q1 Q2 Q3 Q4 FY25 Income Statement Reported Disc Ops (1) Recast Cont. Ops (2) Reported Disc Ops (1) Recast Cont. Ops (2) Reported Disc Ops (1) Recast Cont. Ops (2) Reported Disc Ops (1) Recast Cont. Ops (2) Reported Disc Ops (1) Recast Cont. Ops (2) Net Sales $ 478.4 $ 63.3 $ 415.1 $ 580.7 $ 64.0 $ 516.7 $ 627.2 $ 66.8 $ 560.4 $ 537.2 $ 67.4 $ 469.8 $ 2,223.5 $ 261.5 $ 1,962.0 Cost of Products Sold 286.8 44.2 242.6 324.5 44.7 279.8 358.7 48.4 310.3 328.6 47.1 281.5 1,298.6 184.4 1,114.2 Gross Profit 191.6 19.1 172.5 256.2 19.3 236.9 268.5 18.4 250.1 208.6 20.3 188.3 924.9 77.1 847.8 Selling, General, and Administrative Expense ("SG&A") 102.9 3.3 99.6 105.7 2.9 102.8 104.4 3.7 100.7 112.0 6.5 105.5 425.0 16.4 408.6 Advertising and Sales Promotion Expense 50.3 4.2 46.1 65.5 5.6 59.9 80.4 4.4 76.0 50.5 4.5 46.0 246.7 18.7 228.0 Research and Development Expense 13.9 0.5 13.4 13.9 0.5 13.4 14.0 0.5 13.5 15.8 0.6 15.2 57.6 2.1 55.5 Restructuring Charges 4.2 0.1 4.1 12.2 0.4 11.8 16.0 1.1 14.9 15.5 0.8 14.7 47.9 2.4 45.5 Impairment expenses — — — — — — — — — 51.1 51.1 — 51.1 51.1 — Operating Income (Loss) 20.3 11.0 9.3 58.9 9.9 49.0 53.7 8.7 45.0 (36.3) (43.2) 6.9 96.6 (13.6) 110.2 Interest Expense Associated with Debt 18.8 — 18.8 20.2 — 20.2 19.4 — 19.4 14.8 — 14.8 73.2 — 73.2 Other (Income) Expense, net 3.2 — 3.2 (2.6) — (2.6) (2.9) — (2.9) 2.1 — 2.1 (0.2) — (0.2) Earnings (Loss) from Continuing Operations before Income Taxes (1.7) 11.0 (12.7) 41.3 9.9 31.4 37.2 8.7 28.5 (53.2) (43.2) (10.0) 23.6 (13.6) 37.2 Income Taxes (Benefit) from Continuing Operations 0.4 3.0 (2.6) 12.3 1.7 10.6 8.1 1.1 7.0 (22.6) (0.4) (22.2) (1.8) 5.4 (7.2) Net Income (Loss) from Continuing Operations (2.1) — (10.1) 29.0 — 20.8 29.1 — 21.5 (30.6) — 12.2 25.4 — 44.4 Income (Loss) from Discontinued Operations, Net of Tax — — 8.0 — — 8.2 — — 7.6 — — (42.8) — — (19.0) Net Earnings $ (2.1) $ — $ (2.1) $ 29.0 $ — $ 29.0 $ 29.1 $ — $ 29.1 $ (30.6) $ — $ (30.6) $ 25.4 $ — $ 25.4 (1) Discontinued Operations (2) Recast Continuing Operations
PAGE 6 Bumper slides Fiscal Year 2025 Recast Continuing Operations – Reconciliation Tables (Unaudited)
PAGE 7 FY25 Continuing Operations Reconciliation Table – Gross Profit (Unaudited, $ in millions) Q1 Q2 Q3 Q4 FY25 GAAP — Recast Continuing Operations $ 172.5 $ 236.9 $ 250.1 $ 188.3 $ 847.8 Restructuring and related costs — — 1.2 2.3 3.5 Acquisition and integration costs — — — — — Sun Care reformulation costs — — — — — Gain on Investment — — — — — Commercial realignment — 3.1 (0.1) (0.1) 2.9 Other project and related costs — — — — — Germany re-rate — — — — — Total Adjusted Non-GAAP $ 172.5 $ 240.0 $ 251.2 $ 190.5 $ 854.2
PAGE 8 FY25 Continuing Operations Reconciliation Table – SG&A (Unaudited, $ in millions) Q1 Q2 Q3 Q4 FY25 GAAP — Recast Continuing Operations $ 99.6 $ 102.8 $ 100.7 $ 105.5 $ 408.6 Restructuring and related costs — — (0.6) (1.1) (1.7) Acquisition and integration costs (0.5) — — — (0.5) Sun Care reformulation costs — — — — — Gain on Investment — — — — — Commercial realignment — — — — — Other project and related costs (1.0) (1.4) (1.5) (1.6) (5.5) Germany re-rate — — — — — Total Adjusted Non-GAAP $ 98.1 $ 101.4 $ 98.6 $ 102.8 $ 400.9
PAGE 9 FY25 Continuing Operations Reconciliation Table – Operating Income (Unaudited, $ in millions) Q1 Q2 Q3 Q4 FY25 GAAP — Recast Continuing Operations $ 9.3 $ 49.0 $ 45.0 $ 6.9 $ 110.2 Restructuring and related costs 4.1 11.9 16.7 18.1 50.8 Acquisition and integration costs 0.5 — — — 0.5 Sun Care reformulation costs 1.0 0.7 0.5 1.3 3.5 Gain on Investment — — — — — Commercial realignment — 3.1 — (0.2) 2.9 Other project and related costs 1.0 1.4 1.5 1.6 5.5 Germany re-rate — — — — — Total Adjusted Non-GAAP $ 15.9 $ 66.1 $ 63.7 $ 27.7 $ 173.4
PAGE 10 FY25 Continuing Operations Reconciliation Table – EBIT(1) (Unaudited, $ in millions) (1) EBIT is defined as Earnings (loss) from continuing operations before income taxes. Q1 Q2 Q3 Q4 FY25 GAAP — Recast Continuing Operations $ (12.7) $ 31.4 $ 28.5 $ (10.0) $ 37.2 Restructuring and related costs 4.1 11.9 16.7 18.1 50.8 Acquisition and integration costs 0.5 — — — 0.5 Sun Care reformulation costs 1.0 0.7 0.5 1.3 3.5 Gain on Investment (0.9) — — — (0.9) Commercial realignment — 3.1 (0.1) (0.1) 2.9 Other project and related costs 2.8 0.8 (1.2) 0.8 3.2 Germany re-rate — — — — — Total Adjusted Non-GAAP $ (5.2) $ 47.9 $ 44.4 $ 10.1 $ 97.2
PAGE 11 FY25 Continuing Operations Reconciliation Table – Income Tax Provision (Benefit) (Unaudited, $ in millions) Q1 Q2 Q3 Q4 FY25 GAAP — Recast Continuing Operations $ (2.6) $ 10.6 $ 7.0 $ (22.2) $ (7.2) Restructuring and related costs 1.0 3.0 4.1 4.4 12.5 Acquisition and integration costs 0.1 — — — 0.1 Sun Care reformulation costs 0.3 0.1 0.1 0.3 0.8 Gain on Investment — — — — — Commercial realignment — 0.9 — — 0.9 Other project and related costs 0.8 0.2 (0.5) 0.3 0.8 Germany re-rate — — — 2.8 2.8 Total Adjusted Non-GAAP $ (0.4) $ 14.8 $ 10.7 $ (14.4) $ 10.7
PAGE 12 FY25 Continuing Operations Reconciliation Table – Net Earnings (Loss) (Unaudited, $ in millions) Q1 Q2 Q3 Q4 FY25 GAAP — Recast Continuing Operations $ (10.1) $ 20.8 $ 21.5 $ 12.2 $ 44.4 Restructuring and related costs 3.1 8.8 12.6 13.8 38.3 Acquisition and integration costs 0.4 — — — 0.4 Sun Care reformulation costs 0.7 0.6 0.4 1.0 2.7 Gain on Investment (0.9) — — — (0.9) Commercial realignment — 2.2 (0.1) (0.1) 2.0 Other project and related costs 2.0 0.6 (0.8) 0.6 2.4 Germany re-rate — — — (2.8) (2.8) Total Adjusted Non-GAAP $ (4.8) $ 33.0 $ 33.6 $ 24.7 $ 86.5
PAGE 13 FY25 Continuing Operations Reconciliation Table – Diluted EPS (Unaudited, in millions, except per share data) Weighted-average shares outstanding Q1 Q2 Q3 Q4 FY25 Basic 48.7 48.0 46.8 46.5 47.5 Diluted 48.7 48.2 47.0 46.5 47.6 Q1 Q2 Q3 Q4 FY25 GAAP — Recast Continuing Operations $ (0.21) $ 0.43 $ 0.46 $ 0.26 $ 0.93 Restructuring and related costs 0.07 0.18 0.26 0.30 0.80 Acquisition and integration costs 0.01 — — — 0.01 Sun Care reformulation costs 0.01 0.02 0.01 0.02 0.06 Gain on Investment (0.02) — — — (0.02) Commercial realignment — 0.05 — — 0.04 Other project and related costs 0.04 0.01 (0.02) 0.01 0.05 Germany re-rate — — — (0.06) (0.06) Total Adjusted Non-GAAP $ (0.10) $ 0.69 $ 0.71 $ 0.53 $ 1.81
PAGE 14 (1) Excludes accelerated depreciation of $0.6 for each of the quarters ended March 31, 2025, June 30, 2025, and September 30, 2025. Excludes accelerated depreciation of $1.8 for the year ended September 30, 2025. These amounts are reported in depreciation and amortization above. FY25 Continuing Operations Reconciliation Table – EBITDA (Unaudited, $ in millions) Q1 Q2 Q3 Q4 FY25 Net earnings (loss) from continuing operations $ (10.1) $ 20.8 $ 21.5 $ 12.2 $ 44.4 Income tax provision (2.6) 10.6 7.0 (22.2) (7.2) Interest expense, net 18.3 19.6 19.0 14.2 71.1 Depreciation and amortization 17.8 17.9 18.2 19.4 73.3 EBITDA 23.4 68.9 65.7 23.6 181.6 Restructuring and related charges (1) 4.1 11.2 16.2 17.5 49.0 Acquisition & integration costs 0.5 — — — 0.5 Sun Care reformulation costs 1.0 0.7 0.5 1.3 3.5 Gain on investment (0.9) — — — (0.9) Commercial realignment — 3.1 (0.1) (0.1) 2.9 Other project and related costs 2.8 0.8 (1.2) 0.8 3.2 Germany re-rate — — — — — Adjusted EBITDA $ 30.9 $ 84.7 $ 81.1 $ 43.1 $ 239.8
FAQ
How did Edgewell Personal Care (EPC) perform in Q1 fiscal 2026 on a continuing-operations basis?
Edgewell’s continuing-operations net sales were $422.8 million, up 1.9% year over year, while GAAP diluted EPS was a loss of $(0.63) and adjusted EPS was $(0.16). Adjusted EBITDA from continuing operations was $25.0 million, down from $30.9 million.
What are Edgewell Personal Care (EPC)’s full-year fiscal 2026 outlook targets?
For fiscal 2026 continuing operations, Edgewell expects reported net sales growth of about 0.5%–3.5%, GAAP EPS of $0.55–$0.95, and adjusted EPS of $1.70–$2.10. Adjusted EBITDA is projected between $245 million and $265 million, with an adjusted effective tax rate of roughly 22%–23%.
What did Edgewell receive for the divestiture of its Feminine Care business?
Edgewell successfully completed the divestiture of its Feminine Care business for $340 million. The segment is now treated as discontinued operations, and the company states the estimated annualized impact of the divestiture is expected to be favorable relative to its previous financial outlook assumptions.
What changes were made to Edgewell Personal Care’s 3rd Amended and Restated 2018 Stock Incentive Plan?
Shareholders approved Edgewell’s 3rd Amended and Restated 2018 Stock Incentive Plan, which increases authorized shares by 2,100,000, eliminates the fungible share ratio for new awards, and removes provisions tied to now-repealed Section 162(m) performance-based compensation tax deductibility rules in the Internal Revenue Code.
What is Edgewell Personal Care’s leverage and liquidity position after Q1 fiscal 2026?
At December 31, 2025, Edgewell held $223.3 million in cash and had access to an additional $142.5 million under its U.S. revolving credit facility. The company reported an adjusted net debt leverage ratio of 3.8x, based on trailing twelve-month adjusted EBITDA for continuing operations.
Did Edgewell Personal Care (EPC) maintain its dividend in Q1 fiscal 2026?
Yes. Edgewell’s board declared a quarterly cash dividend of $0.15 per share for the first fiscal quarter of 2026, payable on April 8, 2026 to shareholders of record as of March 6, 2026. The company paid $7.4 million in dividends during the quarter.