Helen of Troy posts $4.6M Q2 profit, raises outlook

Fiscal 2027 guidance raises earnings, adjusted EBITDA and cash-flow ranges while narrowing the consolidated sales outlook.

Rhea-AI Filing Summary

Helen of Troy Limited (HELE) reported second-quarter fiscal 2027 net sales of $440.9 million for the three months ended August 31, 2026, up 2.1% from $431.8 million a year earlier. Home & Outdoor sales rose 9.2% to $227.9 million, while Beauty & Wellness sales fell 4.5% to $213.0 million. GAAP net income was $4.6 million, compared with a $308.6 million loss; the prior-year quarter included $326.4 million of non-cash asset impairment charges. Adjusted EBITDA was $49.4 million versus $36.2 million, adjusted diluted EPS was $0.79 versus $0.59, and operating cash flow was $57.1 million versus cash used of $10.5 million.

Quarter results included $26.9 million in gross pre-tax tariff refunds, of which approximately $23 million was reinvested, for an approximately $4.0 million net pre-tax benefit and approximately $0.12 diluted EPS benefit. Helen of Troy narrowed its fiscal 2027 consolidated net sales outlook to $1.768-$1.822 billion and raised its outlook for GAAP diluted EPS to $3.63-$4.26, adjusted diluted EPS to $3.60-$4.15, adjusted EBITDA to $203-$210 million, operating cash flow to $163-$179 million, and free cash flow to $120-$140 million. Management expects to reinvest approximately 83% to 88% of tariff refunds.

5 points · 1 major

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Hollow bars mark forward-looking points. How the balance works

Positive

• Major point. Forward-looking: it has not happened yet and may not happen.Fiscal 2027 adjusted EBITDA outlook increased to $203-$210 million, from $190-$197 million.
• Moderate pointGAAP net income was $4.6 million, versus a $308.6 million loss.
• Moderate pointAdjusted EBITDA reached $49.4 million, versus $36.2 million.
• Moderate pointQuarterly operating cash flow was $57.1 million, versus cash used of $10.5 million.
• Minor pointSix-month operating cash flow was $56.5 million, versus $47.9 million.

Negative

• None.

Filing Explained

The new four-million-dollar exclusion affects adjusted measures, not GAAP results.

This Form 8-K furnishes Helen of Troy’s second-quarter release: results are reported, while its year-end fiscal 2027 net-leverage ceiling remains a target, now 2.7x or less versus 3.2x previously; its reported ratio was 3.03x on August 31, 2026, so the new ceiling had not yet been met.

The release describes adjusted measures as non-GAAP and not alternatives to GAAP; beginning this quarter it excludes $4.0 million of divestiture-litigation costs from adjusted operating income, adjusted EBITDA and adjusted income, while those costs remain in GAAP results.

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

Consolidated net sales: $440.9 million GAAP net income: $4.6 million Adjusted EBITDA: $49.4 million +5 more

8 metrics

Consolidated net sales $440.9 million Three months ended August 31, 2026; $431.8 million in 2025.

GAAP net income $4.6 million Three months ended August 31, 2026; compared with a $308.6 million net loss in 2025.

Adjusted EBITDA $49.4 million Three months ended August 31, 2026; $36.2 million in 2025.

Adjusted diluted EPS $0.79 Three months ended August 31, 2026; $0.59 in 2025.

Operating cash flow $57.1 million Three months ended August 31, 2026; cash used of $10.5 million in 2025.

Fiscal 2027 adjusted EBITDA outlook $203-$210 million Revised outlook; prior range was $190-$197 million.

Fiscal 2027 operating cash flow outlook $163-$179 million Revised outlook; prior range was $119-$130 million.

Fiscal 2027 free cash flow outlook $120-$140 million Revised outlook; prior range was $85-$100 million.

Key Terms

Adjusted EBITDA, Free cash flow, Net leverage ratio, Organic business

4 terms

Adjusted EBITDA financial

"Adjusted EBITDA (non-GAAP) was $49.4 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.

Free cash flow financial

"Free cash flow represents net cash provided by operating activities less capital"

Free cash flow is the amount of money a company has left over after paying all its expenses and investing in its business, like buying equipment or updating facilities. It shows how much cash is available to reward shareholders, pay down debt, or save for future growth. This helps investors understand if a company is financially healthy and able to grow.

Net leverage ratio financial

"Net leverage ratio (non-GAAP)"

The net leverage ratio measures how much debt a company has compared to its available assets or earnings, after accounting for its cash and liquid assets. It helps investors understand how heavily a company relies on borrowed money to finance its operations and growth. A higher ratio indicates greater financial risk, while a lower ratio suggests a more cautious approach to borrowing.

Organic business financial

"Organic business refers to net sales revenue associated with product lines or brands"

Earnings Snapshot

Consolidated net sales: $440.9 million · Guidance included

Second quarter of fiscal 2027 (three months ended August 31, 2026)

Consolidated net sales $440.9 million Increased 2.1% from $431.8 million

GAAP net income $4.6 million Compared with a net loss of $308.6 million

Adjusted EBITDA $49.4 million Compared with $36.2 million

Adjusted diluted EPS $0.79 Increased 33.9% from $0.59

Operating cash flow $57.1 million Compared with cash used of $10.5 million

Guidance

Fiscal 2027 outlook: consolidated net sales of $1.768-$1.822 billion; GAAP diluted EPS of $3.63-$4.26; adjusted diluted EPS of $3.60-$4.15; adjusted EBITDA of $203-$210 million; operating cash flow of $163-$179 million; and free cash flow of $120-$140 million.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How did HELE perform in the second quarter of fiscal 2027?

Helen of Troy reported $440.9 million in net sales, up 2.1% from a year earlier, and GAAP net income of $4.6 million compared with a $308.6 million loss. Adjusted EBITDA was $49.4 million, adjusted diluted EPS was $0.79, and operating cash flow was $57.1 million.

What is HELE's updated fiscal 2027 outlook?

Helen of Troy's revised outlook includes $1.768-$1.822 billion in consolidated net sales, GAAP diluted EPS of $3.63-$4.26, adjusted diluted EPS of $3.60-$4.15, adjusted EBITDA of $203-$210 million, operating cash flow of $163-$179 million, and free cash flow of $120-$140 million.

How much in tariff refunds did HELE include in its outlook?

The fiscal 2027 outlook includes approximately $80.5 million in tariff refunds. Helen of Troy plans to reinvest approximately 83% to 88% of the refunds, resulting in an estimated pre-tax income net benefit of approximately $10 million to $14 million.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 10/08/2026 - 06:50 AM Accepted by SEC EDGAR 10/08/2026 - 06:50 AM Learn about SEC filing dates

0000916789FALSE00009167892026-10-082026-10-080000916789dei:OtherAddressMember2026-10-082026-10-08

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)  October 8, 2026

HELEN OF TROY LIMITED

(Exact name of registrant as specified in its charter)

Commission File Number:  001-14669

Bermuda						74-2692550
(State or other jurisdiction						(IRS Employer
of incorporation)						Identification No.)

Richmond House

12 Par-la-Ville Road

Hamilton HM 08, Bermuda

(Address of principal executive offices)

201 E. Main Street, Suite 300

El Paso, Texas 79901

(Registrant’s United States mailing address)

915-225-8000

(Registrant’s telephone number, including area code)

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:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act: 

Title of each class

Trading Symbol(s)

Name of each exchange on which registered

Common Shares, $0.10 par value per share

HELE

The NASDAQ Stock Market LLC

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 October 8, 2026, Helen of Troy Limited (the “Company”, “our”, “we” or “us”) issued a press release announcing the results for the second quarter of fiscal 2027.  With this Form 8-K, we are furnishing a copy of the press release (attached hereto as Exhibit 99.1).  The press release is also provided on the Investor Relations Page of our website at: http://www.helenoftroy.com.  The information contained on this website is not included as a part of, or incorporated by reference into, this report.

Certain written and oral statements made by the Company and subsidiaries of the Company may constitute “forward-looking statements” as defined under the Private Securities Litigation Reform Act of 1995. This includes statements made in this Form 8-K and the exhibits attached hereto, in other filings with the SEC, and in certain other oral and written presentations. Generally, the words “anticipates”, “assumes”, “believes”, “expects”, “plans”, “may”, “will”, “might”, “would”, “should”, “seeks”, “estimates”, “project”, “predict”, “potential”, “currently”, “continue”, “intends”, “outlook”, “forecasts”, “targets”, “reflects”, “could”, and other similar words identify forward-looking statements. All statements that address operating results, events or developments that the Company expects or anticipates may occur in the future, including statements related to sales, expenses, earnings per share results, and statements expressing general expectations about future operating results, are forward-looking statements and are based upon its current expectations and various assumptions. The Company currently believes there is a reasonable basis for these expectations and assumptions, but there can be no assurance that the Company will realize these expectations or that these assumptions will prove correct. Forward-looking statements are only as of the date they are made and are subject to risks, many of which are beyond the Company’s control, that could cause them to differ materially from actual results. Accordingly, the Company cautions readers not to place undue reliance on forward-looking statements. The forward-looking statements contained in this Form 8-K and the exhibits attached hereto should be read in conjunction with, and are subject to and qualified by, the risks described in the Company’s Form 10-K for the year ended February 28, 2026, and in the Company’s other filings with the SEC. Investors are urged to refer to the risk factors referred to above for a description of these risks. Such risks include, among others, the geographic concentration of certain United States (“U.S.”) distribution facilities which increases its risk to disruptions that could affect the Company’s ability to deliver products in a timely manner, the occurrence of cyber incidents or failure by the Company or its third-party service providers to maintain cybersecurity and the integrity of confidential internal or customer data, a cybersecurity breach, obsolescence or interruptions in the operation of the Company’s central global Enterprise Resource Planning systems and other peripheral information systems, risks associated with the use of licensed trademarks from or to third parties, the Company’s ability to develop and introduce a continuing stream of innovative new products to meet changing consumer preferences, actions taken by large customers that may adversely affect the Company’s gross profit and operating results, the Company’s dependence on sales to several large customers and the risks associated with any loss of, or substantial decline in, sales to top customers, the Company’s dependence on third-party manufacturers, most of which are located in Asia, and any inability to obtain products from such manufacturers or diversify production to other regions or source the same product in multiple regions or implement potential tariff mitigation plans, the Company’s ability to deliver products to its customers in a timely manner and according to their fulfillment standards, the risks associated with trade barriers, exchange controls, expropriations, and other risks associated with domestic and foreign operations including uncertainty and business interruptions resulting from political changes and events in the U.S. and abroad, and volatility in the global credit and financial markets and economy, the Company’s dependence on the strength of retail economies and vulnerabilities to any prolonged economic downturn, including a downturn from the effects of macroeconomic conditions, geopolitical conditions including global conflicts or wars such as the Israel-United States and Iran conflict, any public health crises or similar conditions, risks associated with weather conditions, the duration and severity of the cold and flu season and other related factors, the Company’s reliance on its Chief Executive Officer and a limited number of other key senior officers to operate its business, the Company’s ability to execute and realize expected synergies from strategic business initiatives such as acquisitions, divestitures and global restructuring plans, the risks of significant tariffs or other restrictions continuing to be placed on imports from China, Vietnam or Mexico and any retaliatory measures taken by these countries, the risks of potential changes in laws and

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regulations, including environmental, employment and health and safety and tax laws, and the costs and complexities of compliance with such laws, the risks associated with increased focus and expectations on climate change and other sustainability matters, the risks associated with significant changes in or the Company’s compliance with regulations, interpretations or product certification requirements, the risks associated with global legal developments regarding privacy and data security that could result in changes to its business practices, penalties, increased cost of operations, or otherwise harm the business, the risks associated with product recalls, product liability, class actions and other claims against the Company, the Company’s dependence on whether it is classified as a “controlled foreign corporation” for U.S. federal income tax purposes which impacts the tax treatment of its non-U.S. income, the risks associated with regulatory changes in Bermuda, including economic substance and tax governance requirements, the risks associated with accounting for tax positions and the resolution of tax disputes, and associated financial risks including but not limited to, the risks to the Company’s business, liquidity or cost of capital which may be materially adversely affected by constraints or changes in the capital and credit markets, interest rates and limitations under and compliance with its credit facility, including debt covenants, significant additional impairment of the Company’s goodwill, indefinite-lived and definite-lived intangible assets and other long-lived assets, projections of product demand, sales and net income, which are highly subjective in nature, and from which future sales and net income could vary by a material amount, increased costs of raw materials, energy and transportation, and risks associated with foreign currency exchange rate fluctuations. The Company undertakes no obligation to publicly update or revise any forward-looking statements as a result of new information, future events or otherwise.

The press release includes or refers to certain measures that the Company believes are non-GAAP financial measures as defined by SEC Regulation G, Rule 100. The press release contains tables that reconcile these measures to their corresponding GAAP-based financial measures presented in the Company’s condensed consolidated statements of income and cash flows. The material limitation associated with the use of the non-GAAP financial measures is that the non-GAAP measures do not reflect the full economic impact of the Company’s activities. These non-GAAP financial measures are not prepared in accordance with GAAP, are not an alternative to GAAP financial measures and may be calculated differently than non-GAAP financial measures disclosed by other companies. Accordingly, undue reliance should not be placed on non-GAAP financial measures.

The information in this Item 2.02 of this Form 8-K and Exhibit 99.1 attached hereto shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933 or any proxy statement or report or other document we may file with the SEC, regardless of any general incorporation language in any such filing, except as shall be expressly set forth by specific reference in such filing.

Item 9.01    Financial Statements and Exhibits.

(d)        Exhibits

Exhibit Number						Description
99.1						Press Release dated October 8, 2026
104						Cover Page Interactive Data File (embedded within the Inline XBRL document)

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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.

			HELEN OF TROY LIMITED
Date: October 8, 2026			/s/ Brian L. Grass
			Brian L. Grass
			Chief Financial Officer

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Exhibit 99.1

Helen of Troy Reports Second Quarter Fiscal 2027 Results

Consolidated Net Sales Growth of 2.1%

GAAP Net Income of $4.6 Million; Diluted EPS of $0.19

Adjusted Income(1) of $19.0 Million; Adjusted Diluted EPS(1) of $0.79

Cash Flow From Operations of $57.1 Million; Adjusted EBITDA(1) of $49.4 Million

Updates Fiscal 2027 Outlook:

Narrows Consolidated Net Sales to $1.768-$1.822 Billion

Raises GAAP Diluted EPS to $3.63-$4.26 and Adjusted Diluted EPS to $3.60-$4.15

Raises GAAP Net Income to $88-$103 Million and Cash Flow from Operations to $163-$179 Million

Raises Adjusted EBITDA to $203-$210 Million

Raises Free Cash Flow(1)(2) to $120-$140 Million

El Paso, Texas, October 8, 2026 — Helen of Troy Limited (NASDAQ: HELE) reported results for the three-month period ended August 31, 2026.

Executive Summary - Second Quarter of Fiscal 2027 Compared to Fiscal 2026

Second quarter results include gross pre-tax tariff refunds of $26.9 million, of which approximately $23 million was reinvested in the quarter, resulting in a net pre-tax benefit of approximately $4.0 million, and a diluted EPS benefit of approximately $0.12, using the estimated annual adjusted effective tax rate.

•Consolidated net sales revenue of $440.9 million compared to $431.8 million

•Gross profit margin of 52.2% compared to 44.2%

•Operating margin of 5.2% compared to (73.1)%, which included the unfavorable impact of non-cash asset impairment charges(3) of (75.6%) in the same period last year

•Non-GAAP adjusted operating margin(1) of 8.6% compared to 6.2%

•GAAP diluted earnings per share of $0.19 compared to diluted loss per share of $13.44, which included after-tax non-cash asset impairment charges of $12.77 in the same period last year

•Non-GAAP adjusted diluted EPS of $0.79 compared to $0.59

•Net cash provided by operating activities of $57.1 million compared to net cash used by operating activities of $10.5 million

•Non-GAAP adjusted EBITDA margin(1) of 11.2% compared to 8.4%

Mr. G. Scott Uzzell, Chief Executive Officer, stated: “Our second quarter results reflect continued progress against our multi-year roadmap. Sales were in line, and Adjusted EBITDA and Adjusted EPS were better than expected, without including the net tariff refund benefit in the quarter. Sales growth was broad-based across Home & Outdoor, Wellness, and International, with improving fundamentals across the balance of the portfolio. We also continued to strengthen our balance sheet, generate free cash flow, and focus resources on the opportunities with the greatest potential to create value.

While there is still meaningful work ahead, we are encouraged by the progress we are making to build a Better Helen of Troy on the road to becoming a Bigger Helen of Troy. We plan to continue making targeted investments in our brands, capabilities, and organization, including reinvesting the vast majority of tariff refunds, while allowing a portion to support near-term earnings and liquidity.”

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			Three Months Ended August 31,
(in thousands) (unaudited)			Home & Outdoor															Beauty & Wellness						Total
Fiscal 2026 sales revenue, net			$	208,721														$	223,060					$	431,781
Organic business (4)			19,420															(10,359)						9,061
Impact of foreign currency			(221)															305						84
Change in sales revenue, net			19,199															(10,054)						9,145
Fiscal 2027 sales revenue, net			$	227,920														$	213,006					$	440,926
Total net sales revenue growth (decline)			9.2		%													(4.5)		%				2.1		%
Organic business			9.3		%													(4.6)		%				2.1		%
Impact of foreign currency			(0.1)		%													0.1		%				—		%
Operating margin (GAAP)
Fiscal 2027			10.6		%													(0.5)		%				5.2		%
Fiscal 2026			(34.8)		%													(109.0)		%				(73.1)		%
Adjusted operating margin (non-GAAP) (1)
Fiscal 2027			12.3		%													4.7		%				8.6		%
Fiscal 2026			9.6		%													3.1		%				6.2		%

Consolidated Results - Second Quarter Fiscal 2027 Compared to Second Quarter Fiscal 2026

•Consolidated net sales revenue increased $9.1 million, or 2.1%, to $440.9 million, primarily due to growth in Home & Outdoor across all brands driven by strong demand for packs, higher international sales, assortment and distribution gains, increased closeout channel sales, and new product launches. This growth was partially offset by a decrease in Beauty & Wellness driven by declines in hair appliances, prestige hair care and water filtration, partially offset by growth in heaters, thermometers and nail care.

•Consolidated gross profit margin increased 800 basis points to 52.2% primarily reflecting the favorable impact of tariff refunds, net of higher tariff costs, totaling approximately 560 basis points, and lower overall retail trade and promotional expense year-over-year. These factors were partially offset by inflationary product cost pressure primarily due to commodities, fuel prices, freight, foreign currency and supply availability, and a less favorable inventory obsolescence impact year-over-year.

•Consolidated selling, general and administrative expense (“SG&A”) ratio increased to 46.4% reflecting the stated intention to reinvest tariff refunds and consisting of: (1) an increase in personnel expense, which includes investment in the organizational structure, higher incentive compensation and health insurance expense year-over-year, (2) increased packaging related costs, which includes investment in packaging redesign and disposal costs to comply with extended producer responsibility programs, (3) divestiture litigation costs(5) and (4) higher marketing expense, which includes incremental investments in demand creation, consumer insights, and content development.

•Consolidated operating income was $22.9 million, or 5.2% of net sales revenue, compared to an operating loss of $315.7 million, or (73.1)% of net sales revenue, which included non-cash asset impairment charges of $326.4 million. The remaining increase of 270 basis points was primarily due to the increase in gross profit margin, partially offset by an increase in the aforementioned consolidated SG&A ratio.

•Interest expense was $10.9 million, compared to $14.2 million. The decrease primarily reflects lower average borrowings outstanding and a lower average effective interest rate inclusive of the impact of interest rate swaps.

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•Income tax expense was $9.2 million on pre-tax income of $13.8 million, compared to an income tax benefit of $21.0 million on a pre-tax loss of $329.7 million for the same period last year. The increase in income tax expense and effective tax rate was primarily due to an increase in jurisdictions with losses excluded from the estimated annual effective tax rate calculation in fiscal 2027, and was also affected by impairment charges and the timing of related tax effects and deferred tax asset valuation allowances recognized in the same period last year.

•Net income was $4.6 million, compared to net loss of $308.6 million. Diluted earnings per share was $0.19, compared to diluted loss per share of $13.44, which included after-tax asset impairment charges and related valuation allowances on deferred tax assets of $13.36. The remaining increase reflects higher operating income exclusive of the aforementioned items and a decrease in interest expense, partially offset by higher income tax expense.

•Non-GAAP adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) was $49.4 million, compared to $36.2 million. Non-GAAP adjusted EBITDA margin was 11.2% compared to 8.4%.

On an adjusted basis (non-GAAP) for the second quarters of fiscal 2027 and 2026, excluding asset impairment charges(3), divestiture litigation costs(5), intangible asset reorganization(6), restructuring charges, amortization of intangible assets and non-cash share-based compensation, as applicable:

•Adjusted operating income increased $11.0 million, or 40.9%, to $37.9 million, or 8.6% of net sales revenue, an increase of 240 basis points. The increase was primarily driven by the favorable impact of tariff refunds, net of higher tariff costs, lower overall retail trade and promotional expense, and the impact of favorable operating leverage, partially offset by an increase in personnel expense, higher packaging related costs, inflationary product cost pressure, increased marketing expense, and a less favorable inventory obsolescence impact year-over-year.

•Adjusted income increased $5.5 million, or 40.3%, to $19.0 million and adjusted diluted EPS increased 33.9% to $0.79. The increase in adjusted diluted EPS was primarily due to higher adjusted operating income and a decrease in interest expense, partially offset by an increase in adjusted income tax expense and higher weighted average diluted shares outstanding.

Divestiture litigation costs relate to the divestiture of the Company’s North America personal care business to HRB Brands LLC (“HRB Brands”) that closed on June 7, 2021. After the sale, the Company was named in lawsuits related to the use of products previously sold by the business. Under the asset purchase agreement, the Company tendered indemnification of these cases to HRB Brands, who assumed defense of the claims. After many years, HRB Brands asserted that it was contesting the indemnification of these cases. Consequently, in order to protect the Company’s rights and defenses, the Company began to defend the cases. The Company maintains its position that HRB Brands is obligated to defend and indemnify the Company against these claims and plans to vigorously contest the position HRB Brands has taken. With respect to the cases, the Company believes it has substantial defenses against them. Due to HRB Brands’ failure to continue to indemnify the claims, the resulting incurrence of litigation costs related to a divestiture that occurred over five years ago, and the uncertainty of the timing in enforcing the Company’s indemnification claims against HRB Brands, the Company does not believe these costs are normal operating expenses related to its ongoing operations, revenue generating activities, or business strategy. As a result, beginning this quarter, the Company determined that the costs related to this matter would be adjusted in its non-GAAP measures going forward. For additional information refer to “Significant Trends Impacting the Business” in the Company’s Form 10-Q for the second quarter of fiscal 2027.

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Segment Results - Second Quarter Fiscal 2027 Compared to Second Quarter Fiscal 2026

Home & Outdoor

Home & Outdoor net sales revenue increased $19.2 million, or 9.2%, to $227.9 million. The increase reflects growth across all brands and was primarily driven by:

•strong demand for technical, travel and lifestyle packs;

•an increase in international sales;

•assortment and distribution gains;

•higher closeout channel sales; and

•incremental sales from new product launches.

Home & Outdoor operating income was $24.1 million, or 10.6% of segment net sales revenue, compared to operating loss of $72.6 million, or (34.8)% of segment net sales revenue, which included $85.5 million of pre-tax asset impairment charges. The remaining 440 basis point increase in segment operating margin was primarily due to:

•the favorable impact of tariff refunds, net of higher tariff costs; and

•the impact of favorable operating leverage.

These factors were partially offset by:

•increased packaging related costs;

•an increase in personnel expense, which includes investment in the organizational structure, higher incentive compensation and health insurance expense year-over-year;

•inflationary product cost pressure due to commodities, fuel prices, freight, foreign currency and supply availability; and

•higher marketing expense.

Adjusted operating income increased 39.2% to $28.0 million, or 12.3% of segment net sales revenue.

Beauty & Wellness

Beauty & Wellness net sales revenue decreased $10.1 million, or 4.5%, to $213.0 million. The decrease was primarily driven by:

•a decline in Beauty hair appliances and prestige hair care products primarily due to softer consumer demand, including the impact of consumer price sensitivity, continued competition, reduced replenishment orders from retail customers and lower closeout channel sales; and

•a decrease in water filtration primarily driven by softer consumer demand and increased competitive marketing activity.

These factors were partially offset by:

•an increase in heater and thermometer sales benefitting from the favorable comparative impact of tariff related effects of reduced direct import orders and disruption in the China market during the same period last year;

•growth in nail care due to strong consumer demand, higher replenishment orders and new and expanded distribution; and

•incremental growth from new product launches.

Beauty & Wellness operating loss was $1.1 million, or (0.5)% of segment net sales revenue, compared to an operating loss of $243.1 million, or (109.0)% of segment net sales revenue, which included

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$240.9 million of pre-tax asset impairment charges. The remaining increase in segment operating margin was primarily due to:

•the favorable impact of tariff refunds, net of higher tariff costs; and

•lower overall retail trade and promotional expense year-over-year.

These factors were partially offset by:

•an increase in personnel expense, which includes investment in the organizational structure, higher incentive compensation and health insurance expense year-over-year;

•divestiture litigation costs;

•increased packaging related costs;

•inflationary product cost pressure due to commodities, fuel prices, freight, foreign currency and supply availability;

•higher marketing expense;

•a less favorable inventory obsolescence impact year-over-year; and

•the impact of unfavorable operating leverage.

Adjusted operating income increased 45.7% to $10.0 million, or 4.7% of segment net sales revenue.

Balance Sheet and Cash Flow - Second Quarter Fiscal 2027 Compared to Second Quarter Fiscal 2026

•Cash and cash equivalents totaled $22.6 million, compared to $22.4 million.

•Accounts receivable turnover(7) was 67.6 days, compared to 72.2 days.

•Inventory was $480.3 million, compared to $528.9 million.

•Total short- and long-term debt was $672.6 million, compared to $893.2 million.

•Net cash provided by operating activities for the first six months of the fiscal year was $56.5 million, compared to $47.9 million for the same period last year.

•Free cash flow(1)(2) for the first six months of the fiscal year was $38.3 million, compared to $23.0 million for the same period last year.

Fiscal 2027 Annual Outlook

Metric			FY27 Revised Outlook Range						FY27 Prior Outlook Range
Consolidated net sales			$1.768 – $1.822 BN (1.0)% – 2.0%						$1.759 – $1.831 BN (1.5)% – 2.5%
Home & Outdoor net sales			$851 – $876 MM 2.2% – 5.2%						$859 – $884 MM 3.1% – 6.1%
Beauty & Wellness net sales			$917 – $946 MM (3.8)% – (0.8)%						$900 – $947 MM (5.6)% – (0.7)%
Net Income			$88 – $103 MM						$85 – $100 MM
Adjusted EBITDA			$203 – $210 MM * 9.1% – 13.0%						$190 – $197 MM 2.3% – 6.0%
Interest expense			$43.1 – $45.1 MM						$45.5 – $47.5 MM
Effective tax rate (GAAP)			28.9% – 32.2%						27.2% – 29.7%
Adjusted effective tax rate (Non-GAAP)			24.0% – 27.0%						24.0% – 26.0%
Diluted EPS (GAAP)			$3.63 – $4.26						$3.57 – $4.18
Adjusted diluted EPS (non-GAAP)			$3.60 – $4.15 ** 1.4% – 16.9%						$3.25 – $3.75 (8.5)% – 5.6%
Weighted average diluted shares outstanding			24.2 MM ***						23.8 MM
Operating cash flow (GAAP)			$163 – $179 MM						$119 – $130 MM
Free cash flow (non-GAAP) (1)(2)			$120 – $140 MM						$85 – $100 MM
Net leverage ratio (1)(8)			≤ 2.7x by end of FY27						≤ 3.2x by end of FY27

5

* Adjusted EBITDA includes a pre-tax benefit of approximately $10 million to $14 million from tariff refunds, net of reinvestments.

** Diluted EPS includes an after-tax benefit of approximately $0.30 to $0.45 from tariff refunds, net of reinvestments, using the Company’s estimated annual adjusted effective tax rate range.

*** Weighted average diluted shares outstanding includes an estimate of 24.5 million shares in the second half of the fiscal year, primarily reflecting an increase in the Company’s stock price.

Key Annual Outlook Assumptions and Drivers

•Market and Consumption Environment: The Company’s outlook reflects management’s view of continued inflationary pressures, softness in discretionary categories, conservative retailer inventory management and an increasingly competitive and promotional landscape.

•Tariffs: Tariff rates in place as of September 2026 are assumed to remain in effect for the balance of fiscal 2027. The Company’s outlook now includes the estimated pre-tax benefit from Phase 1, Phase 2 and Phase 3 tariff refunds totaling approximately $80.5 million. The Company plans to strategically reinvest approximately 83% to 88% of the tariff refunds into growth investments to support brand and demand creation, organizational investments and inventory composition, resulting in an estimated pre-tax income net benefit of approximately $10 million to $14 million.

•Commodity Costs, Freight and Supply Availability: Heightened geopolitical and supply-chain risks, including ongoing tensions in the Middle East, have continued to drive volatility in energy and commodity markets that could continue, increasing uncertainty around input costs and supply chain continuity across key regions and transportation routes. The Company’s outlook continues to include the expectation of higher product costs driven by increases in commodity inputs and pressure from unfavorable Chinese Yuan fluctuations, increased inbound and outbound freight expense, and higher costs to secure goods to avoid supply disruption.

•Illness Incidence: Slightly below the average of the three prior seasons, which is well below pre-Covid historical averages.

•Working Capital Efficiency and Capital Investment: Continued working capital efficiency during fiscal 2027, with an emphasis on further inventory reduction. The Company expects capital expenditures of $39 million to $43 million, compared to the prior expectation of $30 million to $34 million, with an emphasis on product innovation, distribution center network optimization and supply chain diversification.

•Currency: September 2026 foreign currency exchange rates remain constant for the remainder of the fiscal year.

The likelihood, timing and potential impact of a significant or prolonged recession, any fiscal 2027 acquisitions and divestitures, future asset impairment charges, additional interest rate changes, litigation or share repurchases are unknown and cannot be reasonably estimated; therefore, they are not included in the Company’s outlook.

Conference Call and Webcast

The Company will conduct a teleconference in conjunction with today’s earnings release. The teleconference begins at 9:00 a.m. Eastern Time today, Thursday, October 8, 2026. Institutional investors and analysts interested in participating in the call are invited to dial (877) 407-3982 approximately ten minutes prior to the start of the call. The conference call will also be webcast live on the Events & Presentations page at: http://investor.helenoftroy.com/. A telephone replay of this call will be available at 1:00 p.m. Eastern Time on October 8, 2026, until 11:59 p.m. Eastern Time on October 22, 2026, and can be accessed by dialing (844) 512-2921 and entering replay pin number 13762459. A replay of the webcast will remain available on the website for one year.

6

Non-GAAP Financial Measures

The Company reports and discusses its operating results using financial measures consistent with accounting principles generally accepted in the United States of America (“GAAP”). To supplement its presentation, the Company discloses certain financial measures that may be considered non-GAAP such as Adjusted Operating Income, Adjusted Operating Margin, Adjusted Effective Tax Rate, Adjusted Income, Adjusted Diluted Earnings per Share (“EPS”), EBITDA, Adjusted EBITDA, Adjusted EBITDA Margin, Free Cash Flow and Net Leverage Ratio, which are presented in accompanying tables to this press release along with a reconciliation of these financial measures to their corresponding GAAP-based financial measures presented in the Company’s condensed consolidated statements of income and cash flows. For additional information, see Note 1 to the accompanying tables to this press release.

About Helen of Troy Limited

Helen of Troy Limited (NASDAQ: HELE) is a leading global consumer products company offering creative products and solutions for its customers through a diversified portfolio of well-recognized and widely-trusted brands, including OXO, Hydro Flask, Osprey, Vicks, Braun, Honeywell, PUR, Hot Tools, Drybar, Curlsmith, Revlon and Olive & June. All trademarks herein belong to Helen of Troy Limited (or its subsidiaries) and/or are used under license from their respective licensors.

For more information about Helen of Troy, please visit http://investor.helenoftroy.com

Forward-Looking Statements

Certain written and oral statements made by the Company and subsidiaries of the Company may constitute “forward-looking statements” as defined under the Private Securities Litigation Reform Act of 1995. This includes statements made in this press release, in other filings with the SEC, and in certain other oral and written presentations. Generally, the words “anticipates”, “assumes”, “believes”, “expects”, “plans”, “may”, “will”, “might”, “would”, “should”, “seeks”, “estimates”, “project”, “predict”, “potential”, “currently”, “continue”, “intends”, “outlook”, “forecasts”, “targets”, “reflects”, “could”, and other similar words identify forward-looking statements. All statements that address operating results, events or developments that the Company expects or anticipates may occur in the future, including statements related to sales, expenses, earnings per share results, and statements expressing general expectations about future operating results, are forward-looking statements and are based upon its current expectations and various assumptions. The Company currently believes there is a reasonable basis for these expectations and assumptions, but there can be no assurance that the Company will realize these expectations or that these assumptions will prove correct. Forward-looking statements are only as of the date they are made and are subject to risks, many of which are beyond the Company’s control, that could cause them to differ materially from actual results. Accordingly, the Company cautions readers not to place undue reliance on forward-looking statements. The forward-looking statements contained in this press release should be read in conjunction with, and are subject to and qualified by, the risks described in the Company’s Form 10-K for the year ended February 28, 2026, and in the Company’s other filings with the SEC. Investors are urged to refer to the risk factors referred to above for a description of these risks. Such risks include, among others, the geographic concentration of certain United States (“U.S.”) distribution facilities which increases its risk to disruptions that could affect the Company’s ability to deliver products in a timely manner, the occurrence of cyber incidents or failure by the Company or its third-party service providers to maintain cybersecurity and the integrity of confidential internal or customer data, a cybersecurity breach, obsolescence or interruptions in the operation of the Company’s central global Enterprise Resource Planning systems and other peripheral information systems, risks associated with the use of licensed trademarks from or to third parties, the Company’s ability to develop and introduce a continuing stream of innovative new products to meet changing consumer preferences, actions taken by large customers that may adversely affect the Company’s gross profit and operating results, the Company’s dependence on sales to several large customers and the risks associated with

7

any loss of, or substantial decline in, sales to top customers, the Company’s dependence on third-party manufacturers, most of which are located in Asia, and any inability to obtain products from such manufacturers or diversify production to other regions or source the same product in multiple regions or implement potential tariff mitigation plans, the Company’s ability to deliver products to its customers in a timely manner and according to their fulfillment standards, the risks associated with trade barriers, exchange controls, expropriations, and other risks associated with domestic and foreign operations including uncertainty and business interruptions resulting from political changes and events in the U.S. and abroad, and volatility in the global credit and financial markets and economy, the Company’s dependence on the strength of retail economies and vulnerabilities to any prolonged economic downturn, including a downturn from the effects of macroeconomic conditions, geopolitical conditions including global conflicts or wars such as the Israel-United States and Iran conflict, any public health crises or similar conditions, risks associated with weather conditions, the duration and severity of the cold and flu season and other related factors, the Company’s reliance on its Chief Executive Officer and a limited number of other key senior officers to operate its business, the Company’s ability to execute and realize expected synergies from strategic business initiatives such as acquisitions, divestitures and global restructuring plans, the risks of significant tariffs or other restrictions continuing to be placed on imports from China, Vietnam or Mexico and any retaliatory measures taken by these countries, the risks of potential changes in laws and regulations, including environmental, employment and health and safety and tax laws, and the costs and complexities of compliance with such laws, the risks associated with increased focus and expectations on climate change and other sustainability matters, the risks associated with significant changes in or the Company’s compliance with regulations, interpretations or product certification requirements, the risks associated with global legal developments regarding privacy and data security that could result in changes to its business practices, penalties, increased cost of operations, or otherwise harm the business, the risks associated with product recalls, product liability, class actions and other claims against the Company, the Company’s dependence on whether it is classified as a “controlled foreign corporation” for U.S. federal income tax purposes which impacts the tax treatment of its non-U.S. income, the risks associated with regulatory changes in Bermuda, including economic substance and tax governance requirements, the risks associated with accounting for tax positions and the resolution of tax disputes, and associated financial risks including but not limited to, the risks to the Company’s business, liquidity or cost of capital which may be materially adversely affected by constraints or changes in the capital and credit markets, interest rates and limitations under and compliance with its credit facility, including debt covenants, significant additional impairment of the Company’s goodwill, indefinite-lived and definite-lived intangible assets and other long-lived assets, projections of product demand, sales and net income, which are highly subjective in nature, and from which future sales and net income could vary by a material amount, increased costs of raw materials, energy and transportation, and risks associated with foreign currency exchange rate fluctuations. The Company undertakes no obligation to publicly update or revise any forward-looking statements as a result of new information, future events or otherwise.

Investor Contact:

Helen of Troy Limited

Anne Rakunas, Sr. Director, Investor Relations & Corporate Communications

investors@helenoftroy.com

ICR, Inc.

Allison Malkin, Partner

investors@helenoftroy.com

8

HELEN OF TROY LIMITED AND SUBSIDIARIES

Condensed Consolidated Statements of Income (Loss)

(Unaudited) (in thousands, except per share data)

			Three Months Ended August 31,
			2026												2025
Sales revenue, net			$	440,926					100.0		%				$	431,781					100.0		%
Cost of goods sold			210,803						47.8		%				241,100						55.8		%
Gross profit			230,123						52.2		%				190,681						44.2		%
Selling, general and administrative expense (“SG&A”)			204,661						46.4		%				176,999						41.0		%
Asset impairment charges			—						—		%				326,394						75.6		%
Restructuring charges			2,543						0.6		%				3,005						0.7		%
Operating income (loss)			22,919						5.2		%				(315,717)						(73.1)		%
Non-operating income, net			1,761						0.4		%				249						0.1		%
Interest expense			10,892						2.5		%				14,221						3.3		%
Income (loss) before income tax			13,788						3.1		%				(329,689)						(76.4)		%
Income tax expense (benefit)			9,156						2.1		%				(21,046)						(4.9)		%
Net income (loss)			$	4,632					1.1		%				$	(308,643)					(71.5)		%
Diluted earnings (loss) per share			$	0.19											$	(13.44)
Weighted average shares of common stock used in computing diluted earnings (loss) per share			24,153												22,959

			Six Months Ended August 31,
			2026												2025
Sales revenue, net			$	843,041					100.0		%				$	803,436					100.0		%
Cost of goods sold			428,063						50.8		%				437,744						54.5		%
Gross profit			414,978						49.2		%				365,692						45.5		%
SG&A			329,167						39.0		%				344,663						42.9		%
Asset impairment charges			—						—		%				740,779						92.2		%
Restructuring charges			2,543						0.3		%				3,005						0.4		%
Operating income (loss)			83,268						9.9		%				(722,755)						(90.0)		%
Non-operating income, net			1,979						0.2		%				557						0.1		%
Interest expense			23,135						2.7		%				28,029						3.5		%
Income (loss) before income tax			62,112						7.4		%				(750,227)						(93.4)		%
Income tax expense			21,718						2.6		%				9,134						1.1		%
Net income (loss)			$	40,394					4.8		%				$	(759,361)					(94.5)		%
Diluted earnings (loss) per share			$	1.69											$	(33.09)
Weighted average shares of common stock used in computing diluted earnings (loss) per share			23,956												22,951

9

Consolidated Net Sales by Geographic Region (9)

(Unaudited) (in thousands)

			Three Months Ended August 31,
			2026												2025
Domestic sales revenue, net			$	335,868					76.2		%				$	330,496					76.5		%
International sales revenue, net			105,058						23.8		%				101,285						23.5		%
Total sales revenue, net			$	440,926					100.0		%				$	431,781					100.0		%

			Six Months Ended August 31,
			2026												2025
Domestic sales revenue, net			$	643,216					76.3		%				$	608,456					75.7		%
International sales revenue, net			199,825						23.7		%				194,980						24.3		%
Total sales revenue, net			$	843,041					100.0		%				$	803,436					100.0		%

10

Reconciliation of Non-GAAP Financial Measures – GAAP Operating Income (Loss) and Operating Margin to Adjusted Operating Income and Adjusted Operating Margin (Non-GAAP) (1)

(Unaudited) (in thousands)

			Three Months Ended August 31, 2026
			Home & Outdoor												Beauty & Wellness												Total
Operating income (loss), as reported (GAAP)			$	24,067					10.6		%				$	(1,148)					(0.5)		%				$	22,919					5.2		%
Divestiture litigation costs (5)			—						—		%				4,002						1.9		%				4,002						0.9		%
Restructuring charges			814						0.4		%				1,729						0.8		%				2,543						0.6		%
Subtotal			24,881						10.9		%				4,583						2.2		%				29,464						6.7		%
Amortization of intangible assets			559						0.2		%				2,781						1.3		%				3,340						0.8		%
Non-cash share-based compensation			2,514						1.1		%				2,629						1.2		%				5,143						1.2		%
Adjusted operating income (non-GAAP)			$	27,954					12.3		%				$	9,993					4.7		%				$	37,947					8.6		%

			Three Months Ended August 31, 2025
			Home & Outdoor												Beauty & Wellness												Total
Operating loss, as reported (GAAP)			$	(72,578)					(34.8)		%				$	(243,139)					(109.0)		%				$	(315,717)					(73.1)		%
Asset impairment charges (3)			85,537						41.0		%				240,857						108.0		%				326,394						75.6		%
Restructuring charges			1,501						0.7		%				1,504						0.7		%				3,005						0.7		%
Subtotal			14,460						6.9		%				(778)						(0.3)		%				13,682						3.2		%
Amortization of intangible assets			1,373						0.7		%				2,512						1.1		%				3,885						0.9		%
Non-cash share-based compensation			4,248						2.0		%				5,124						2.3		%				9,372						2.2		%
Adjusted operating income (non-GAAP)			$	20,081					9.6		%				$	6,858					3.1		%				$	26,939					6.2		%

			Six Months Ended August 31, 2026
			Home & Outdoor												Beauty & Wellness												Total
Operating income, as reported (GAAP)			$	32,232					7.6		%				$	51,036					12.1		%				$	83,268					9.9		%
Divestiture litigation costs			—						—		%				4,002						1.0		%				4,002						0.5		%
Gain on sale of distribution facility (10)			—						—		%				(54,854)						(13.1)		%				(54,854)						(6.5)		%
Restructuring charges			814						0.2		%				1,729						0.4		%				2,543						0.3		%
Subtotal			33,046						7.8		%				1,913						0.5		%				34,959						4.1		%
Amortization of intangible assets			1,932						0.5		%				5,563						1.3		%				7,495						0.9		%
Non-cash share-based compensation			5,308						1.3		%				6,272						1.5		%				11,580						1.4		%
Adjusted operating income (non-GAAP)			$	40,286					9.5		%				$	13,748					3.3		%				$	54,034					6.4		%

			Six Months Ended August 31, 2025
			Home & Outdoor												Beauty & Wellness												Total
Operating loss, as reported (GAAP)			$	(286,371)					(74.1)		%				$	(436,384)					(104.7)		%				$	(722,755)					(90.0)		%
Asset impairment charges			304,632						78.8		%				436,147						104.7		%				740,779						92.2		%
CEO succession costs (11)			1,742						0.5		%				1,742						0.4		%				3,484						0.4		%
Restructuring charges			1,501						0.4		%				1,504						0.4		%				3,005						0.4		%
Subtotal			21,504						5.6		%				3,009						0.7		%				24,513						3.1		%
Amortization of intangible assets			3,155						0.8		%				5,719						1.4		%				8,874						1.1		%
Non-cash share-based compensation			4,282						1.1		%				5,386						1.3		%				9,668						1.2		%
Adjusted operating income (non-GAAP)			$	28,941					7.5		%				$	14,114					3.4		%				$	43,055					5.4		%

11

Reconciliation of Non-GAAP Financial Measures – GAAP Operating Income (Loss) to EBITDA

(Earnings (Loss) Before Interest, Taxes, Depreciation and Amortization), Adjusted EBITDA and Adjusted EBITDA Margin (Non-GAAP) (1)

(Unaudited) (in thousands)

			Three Months Ended August 31, 2026
			Home & Outdoor												Beauty & Wellness												Total
Operating income (loss), as reported (GAAP)			$	24,067					10.6		%				$	(1,148)					(0.5)		%				$	22,919					5.2		%
Depreciation and amortization			5,865						2.6		%				7,155						3.4		%				13,020						3.0		%
Non-operating income, net			—						—		%				1,761						0.8		%				1,761						0.4		%
EBITDA (non-GAAP)			29,932						13.1		%				7,768						3.6		%				37,700						8.6		%
Add: Divestiture litigation costs			—						—		%				4,002						1.9		%				4,002						0.9		%
Restructuring charges			814						0.4		%				1,729						0.8		%				2,543						0.6		%
Non-cash share-based compensation			2,514						1.1		%				2,629						1.2		%				5,143						1.2		%
Adjusted EBITDA (non-GAAP)			$	33,260					14.6		%				$	16,128					7.6		%				$	49,388					11.2		%

			Three Months Ended August 31, 2025
			Home & Outdoor												Beauty & Wellness												Total
Operating loss, as reported (GAAP)			$	(72,578)					(34.8)		%				$	(243,139)					(109.0)		%				$	(315,717)					(73.1)		%
Depreciation and amortization			6,040						2.9		%				6,820						3.1		%				12,860						3.0		%
Non-operating income, net			—						—		%				249						0.1		%				249						0.1		%
EBITDA (non-GAAP)			(66,538)						(31.9)		%				(236,070)						(105.8)		%				(302,608)						(70.1)		%
Add: Asset impairment charges			85,537						41.0		%				240,857						108.0		%				326,394						75.6		%
Restructuring charges			1,501						0.7		%				1,504						0.7		%				3,005						0.7		%
Non-cash share-based compensation			4,248						2.0		%				5,124						2.3		%				9,372						2.2		%
Adjusted EBITDA (non-GAAP)			$	24,748					11.9		%				$	11,415					5.1		%				$	36,163					8.4		%

			Six Months Ended August 31, 2026
			Home & Outdoor												Beauty & Wellness												Total
Operating income, as reported (GAAP)			$	32,232					7.6		%				$	51,036					12.1		%				$	83,268					9.9		%
Depreciation and amortization			12,357						2.9		%				14,040						3.3		%				26,397						3.1		%
Non-operating income, net			—						—		%				1,979						0.5		%				1,979						0.2		%
EBITDA (non-GAAP)			44,589						10.5		%				67,055						16.0		%				111,644						13.2		%
Add: Divestiture litigation costs			—						—		%				4,002						1.0		%				4,002						0.5		%
Gain on sale of distribution facility			—						—		%				(54,854)						(13.1)		%				(54,854)						(6.5)		%
Restructuring charges			814						0.2		%				1,729						0.4		%				2,543						0.3		%
Non-cash share-based compensation			5,308						1.3		%				6,272						1.5		%				11,580						1.4		%
Adjusted EBITDA (non-GAAP)			$	50,711					12.0		%				$	24,204					5.8		%				$	74,915					8.9		%

12

			Six Months Ended August 31, 2025
			Home & Outdoor												Beauty & Wellness												Total
Operating loss, as reported (GAAP)			$	(286,371)					(74.1)		%				$	(436,384)					(104.7)		%				$	(722,755)					(90.0)		%
Depreciation and amortization			12,599						3.3		%				14,345						3.4		%				26,944						3.4		%
Non-operating income, net			—						—		%				557						0.1		%				557						0.1		%
EBITDA (non-GAAP)			(273,772)						(70.8)		%				(421,482)						(101.1)		%				(695,254)						(86.5)		%
Add: Asset impairment charges				304,632					78.8		%					436,147					104.7		%					740,779					92.2		%
CEO succession costs			1,742						0.5		%				1,742						0.4		%				3,484						0.4		%
Restructuring charges			1,501						0.4		%				1,504						0.4		%				3,005						0.4		%
Non-cash share-based compensation			4,282						1.1		%				5,386						1.3		%				9,668						1.2		%
Adjusted EBITDA (non-GAAP)			$	38,385					9.9		%				$	23,297					5.6		%				$	61,682					7.7		%

13

Reconciliation of Non-GAAP Financial Measures – GAAP Net Income (Loss) to EBITDA

(Earnings (Loss) Before Interest, Taxes, Depreciation and Amortization), Adjusted EBITDA and Adjusted EBITDA Margin (Non-GAAP) (1)

(Unaudited) (in thousands)

			Three Months Ended August 31,
			2026												2025
Net income (loss), as reported (GAAP)			$	4,632					1.1		%				$	(308,643)					(71.5)		%
Interest expense			10,892						2.5		%				14,221						3.3		%
Income tax expense (benefit)			9,156						2.1		%				(21,046)						(4.9)		%
Depreciation and amortization			13,020						3.0		%				12,860						3.0		%
EBITDA (non-GAAP)			37,700						8.6		%				(302,608)						(70.1)		%
Add: Asset impairment charges			—						—		%				326,394						75.6		%
Divestiture litigation costs			4,002						0.9		%				—						—		%
Restructuring charges			2,543						0.6		%				3,005						0.7		%
Non-cash share-based compensation			5,143						1.2		%				9,372						2.2		%
Adjusted EBITDA (non-GAAP)			$	49,388					11.2		%				$	36,163					8.4		%

			Six Months Ended August 31,
			2026												2025
Net income (loss), as reported (GAAP)			$	40,394					4.8		%				$	(759,361)					(94.5)		%
Interest expense			23,135						2.7		%				28,029						3.5		%
Income tax expense			21,718						2.6		%				9,134						1.1		%
Depreciation and amortization			26,397						3.1		%				26,944						3.4		%
EBITDA (non-GAAP)			111,644						13.2		%				(695,254)						(86.5)		%
Add: Asset impairment charges			—						—		%				740,779						92.2		%
CEO succession costs			—						—		%				3,484						0.4		%
Divestiture litigation costs			4,002						0.5		%				—						—		%
Gain on sale of distribution facility			(54,854)						(6.5)		%				—						—		%
Restructuring charges			2,543						0.3		%				3,005						0.4		%
Non-cash share-based compensation			11,580						1.4		%				9,668						1.2		%
Adjusted EBITDA (non-GAAP)			$	74,915					8.9		%				$	61,682					7.7		%

			Quarterly Period Ended																								Twelve Months Ended August 31, 2026
			November						February						May						August
Net (loss) income, as reported (GAAP)			$	(84,056)					$	(55,565)					$	35,762					$	4,632					$	(99,227)
Interest expense			15,855						13,855						12,243						10,892						52,845
Income tax expense (benefit)			60,042						(9,032)						12,562						9,156						72,728
Depreciation and amortization			12,837						13,514						13,377						13,020						52,748
EBITDA (non-GAAP)			4,678						(37,228)						73,944						37,700						79,094
Add: Asset impairment charges			65,906						79,176						—						—						145,082
Divestiture litigation costs			—						—						—						4,002						4,002
EPA compliance costs (12)			—						4,354						—						—						4,354
Gain on sale of distribution facility			—						—						(54,854)						—						(54,854)
Restructuring charges			—						—						—						2,543						2,543
Non-cash share-based compensation			5,030						2,187						6,437						5,143						18,797
Adjusted EBITDA (non-GAAP)			$	75,614					$	48,489					$	25,527					$	49,388					$	199,018

14

Reconciliation of Non-GAAP Financial Measures – GAAP Income (Loss) and Diluted Earnings (Loss) Per Share to Adjusted Income and Adjusted Diluted Earnings Per Share (Non-GAAP) (1)

(Unaudited) (in thousands, except per share data)

			Three Months Ended August 31, 2026
			Income																		Diluted Earnings Per Share
			Before Tax						Tax						Net of Tax						Before Tax						Tax						Net of Tax
As reported (GAAP)			$	13,788					$	9,156					$	4,632					$	0.57					$	0.38					$	0.19
Divestiture litigation costs			4,002						—						4,002						0.17						—						0.17
Restructuring charges			2,543						—						2,543						0.11						—						0.11
Subtotal			20,333						9,156						11,177						0.84						0.38						0.46
Amortization of intangible assets			3,340						451						2,889						0.14						0.02						0.12
Non-cash share-based compensation			5,143						212						4,931						0.21						0.01						0.20
Adjusted (non-GAAP)			$	28,816					$	9,819					$	18,997					$	1.19					$	0.41					$	0.79
Weighted average shares of common stock used in computing reported and non-GAAP diluted earnings per share																																	24,153

			Three Months Ended August 31, 2025
			(Loss) Income																		Diluted (Loss) Earnings Per Share
			Before Tax						Tax						Net of Tax						Before Tax						Tax						Net of Tax
As reported (GAAP)			$	(329,689)					$	(21,046)					$	(308,643)					$	(14.36)					$	(0.92)					$	(13.44)
Asset impairment charges			326,394						32,419						293,975						14.18						1.41						12.77
Intangible asset reorganization (6)			—						(13,485)						13,485						—						(0.59)						0.59
Restructuring charges			3,005						421						2,584						0.13						0.02						0.11
Subtotal			(290)						(1,691)						1,401						(0.01)						(0.07)						0.06
Amortization of intangible assets			3,885						669						3,216						0.17						0.03						0.14
Non-cash share-based compensation			9,372						445						8,927						0.41						0.02						0.39
Adjusted (non-GAAP)			$	12,967					$	(577)					$	13,544					$	0.56					$	(0.03)					$	0.59
Weighted average shares of common stock used in computing:
Diluted loss per share, as reported																																	22,959
Adjusted diluted earnings per share (non-GAAP)																																	23,012

			Six Months Ended August 31, 2026
			Income																		Diluted Earnings Per Share
			Before Tax						Tax						Net of Tax						Before Tax						Tax						Net of Tax
As reported (GAAP)			$	62,112					$	21,718					$	40,394					$	2.59					$	0.91					$	1.69
Divestiture litigation costs			4,002						—						4,002						0.17						—						0.17
Gain on sale of distribution facility			(54,854)						(13,549)						(41,305)						(2.29)						(0.57)						(1.72)
Restructuring charges			2,543						—						2,543						0.11						—						0.11
Subtotal			13,803						8,169						5,634						0.58						0.34						0.24
Amortization of intangible assets			7,495						1,123						6,372						0.31						0.05						0.27
Non-cash share-based compensation			11,580						636						10,944						0.48						0.03						0.46
Adjusted (non-GAAP)			$	32,878					$	9,928					$	22,950					$	1.37					$	0.41					$	0.96
Weighted average shares of common stock used in computing reported and non-GAAP diluted earnings per share																																	23,956

15

Reconciliation of Non-GAAP Financial Measures – GAAP Income (Loss) and Diluted Earnings (Loss) Per Share to Adjusted Income and Adjusted Diluted Earnings Per Share (Non-GAAP) (1)

(Unaudited) (in thousands, except per share data)

			Six Months Ended August 31, 2025
			(Loss) Income																		Diluted (Loss) Earnings Per Share
			Before Tax						Tax						Net of Tax						Before Tax						Tax						Net of Tax
As reported (GAAP)			$	(750,227)					$	9,134					$	(759,361)					$	(32.69)					$	0.40					$	(33.09)
Asset impairment charges			740,779						10,650						730,129						32.22						0.46						31.76
CEO succession costs			3,484						153						3,331						0.15						0.01						0.14
Intangible asset reorganization			—						(29,959)						29,959						—						(1.30)						1.30
Restructuring charges			3,005						421						2,584						0.13						0.02						0.11
Subtotal			(2,959)						(9,601)						6,642						(0.13)						(0.42)						0.29
Amortization of intangible assets			8,874						1,551						7,323						0.39						0.07						0.32
Non-cash share-based compensation			9,668						602						9,066						0.42						0.03						0.39
Adjusted (non-GAAP)			$	15,583					$	(7,448)					$	23,031					$	0.68					$	(0.32)					$	1.00
Weighted average shares of common stock used in computing:
Diluted loss per share, as reported																																	22,951
Adjusted diluted earnings per share (non-GAAP)																																	22,992

16

Selected Consolidated Balance Sheet and Cash Flow Information

(Unaudited) (in thousands)

			August 31,
			2026						2025
Balance Sheet:
Cash and cash equivalents			$	22,583					$	22,370
Receivables, net			327,758						350,231
Inventory			480,325						528,893
Total assets, current			876,335						938,129
Total assets			2,096,608						2,407,554
Total liabilities, current			531,010						549,952
Total long-term liabilities			711,769						931,320
Total debt			672,622						893,220
Stockholders’ equity			853,829						926,282

			Six Months Ended August 31,
			2026						2025
Cash Flow:
Depreciation and amortization			$	26,397					$	26,944
Net cash provided by operating activities			56,451						47,868
Capital and intangible asset expenditures			18,111						24,832
Net debt repayments			(109,000)						(23,231)
Payments for repurchases of common stock			1,262						1,482

Reconciliation of Non-GAAP Financial Measures – GAAP Net Cash Provided by Operating Activities to Free Cash Flow (Non-GAAP) (1) (2)

(Unaudited) (in thousands)

			Six Months Ended August 31,
			2026						2025
Net cash provided by operating activities (GAAP)			$	56,451					$	47,868
Less: Capital and intangible asset expenditures			(18,111)						(24,832)
Free cash flow (non-GAAP)			$	38,340					$	23,036

17

Reconciliation of Non-GAAP Financial Measures – Net Leverage Ratio (Non-GAAP) (1) (8)

(Unaudited) (in thousands)

			Quarterly Period Ended																								Twelve Months Ended August 31, 2026
			November						February						May						August
Adjusted EBITDA (non-GAAP) (13)			$	75,614					$	48,489					$	25,527					$	49,388					$	199,018
Permitted adjustments per the credit agreement (8)			—						—						—						—						15,043
Adjusted EBITDA per the credit agreement			$	75,614					$	48,489					$	25,527					$	49,388					$	214,061
Total borrowings under the credit agreement, as reported (GAAP)																											$	676,544
Less: Unrestricted cash and cash equivalents																											(27,291)
Net debt																											$	649,253
Net leverage ratio (non-GAAP) (8)																											3.03

18

Fiscal 2027 Outlook for Net Sales Revenue

(Unaudited) (in thousands)

Consolidated:			Fiscal 2026						Fiscal 2027 Outlook
Net sales revenue			$	1,786,290					$	1,768,000					—						$	1,822,000
Net sales revenue (decline) growth									(1.0)		%				—						2.0		%

Reconciliation of Non-GAAP Financial Measures – Fiscal 2027 Outlook for GAAP Net Income to EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization)

and Adjusted EBITDA (Non-GAAP) (1) (Unaudited) (in thousands)

			Six Months Ended August 31, 2026						Outlook for the Balance of the Fiscal Year (Six Months)																		Fiscal 2027 Outlook
Net income, as reported (GAAP)			$	40,394					$	47,515					—						$	62,915					$	87,909					—						$	103,309
Interest expense			23,135						21,965						—						19,965						45,100						—						43,100
Income tax expense			21,718						20,182						—						20,182						41,900						—						41,900
Depreciation and amortization			26,397						25,603						—						21,603						52,000						—						48,000
EBITDA (non-GAAP)			111,644						115,265						—						124,665						226,909						—						236,309
Add: Divestiture litigation costs			4,002						—						—						—						4,002						—						4,002
Gain on sale of distribution facility			(54,854)						—						—						—						(54,854)						—						(54,854)
Restructuring charges			2,543						—						—						—						2,543						—						2,543
Non-cash share-based compensation			11,580						12,420						—						10,420						24,000						—						22,000
Adjusted EBITDA (non-GAAP)			$	74,915					$	127,685					—						$	135,085					$	202,600					—						$	210,000

Reconciliation of Non-GAAP Financial Measures – Fiscal 2027 Outlook for GAAP Diluted EPS to Adjusted Diluted EPS (Non-GAAP) and GAAP Effective Tax Rate to Adjusted Effective Tax Rate (Non-GAAP) (1) (Unaudited)

			Six Months Ended August 31, 2026						Outlook for the Balance of the Fiscal Year (Six Months)																		Fiscal 2027 Outlook																		Tax Rate Fiscal 2027 Outlook
Diluted EPS, as reported (GAAP)			$	1.69					$	1.94					-						$	2.57					$	3.63					-						$	4.26					32.2		%				-						28.9		%
Divestiture litigation costs			0.17						—						-						—						0.17						-						0.17
Gain on sale of distribution facility			(2.29)						—						-						—						(2.29)						-						(2.29)
Restructuring charges			0.11						—						-						—						0.11						-						0.11
Amortization of intangible assets			0.31						0.26						-						0.24						0.57						-						0.55
Non-cash share-based compensation			0.48						0.51						-						0.43						0.99						-						0.91
Income tax effect of adjustments			0.49						(0.07)						-						(0.05)						0.42						-						0.44						(5.2)		%				-						(4.9)		%
Adjusted diluted EPS (non-GAAP)			$	0.96					$	2.64					-						$	3.19					$	3.60					-						$	4.15					27.0		%				-						24.0		%

Reconciliation of Non-GAAP Financial Measures – Fiscal 2027 Outlook for GAAP Net Cash Provided by Operating Activities to Free Cash Flow (Non-GAAP) (1) (2)

(Unaudited) (in thousands)

			Six Months Ended August 31, 2026						Outlook for the Balance of the Fiscal Year (Six Months)																		Fiscal 2027 Outlook
Net cash provided by operating activities (GAAP)			$	56,451					$	106,549					—						$	122,549					$	163,000					—						$	179,000
Less: Capital and intangible asset expenditures			(18,111)						(24,889)						—						(20,889)						(43,000)						—						(39,000)
Free cash flow (non-GAAP)			$	38,340					$	81,660					—						$	101,660					$	120,000					—						$	140,000

19

HELEN OF TROY LIMITED AND SUBSIDIARIES

Notes to Press Release

(1)						This press release contains non-GAAP financial measures. Adjusted Operating Income, Adjusted Operating Margin, Adjusted Effective Tax Rate, Adjusted Income, Adjusted Diluted Earnings Per Share, EBITDA, Adjusted EBITDA, Adjusted EBITDA Margin, Free Cash Flow and Net Leverage Ratio (“Non-GAAP Financial Measures”) that are discussed in the accompanying press release or in the preceding tables may be considered non-GAAP financial measures as defined by SEC Regulation G, Rule 100. Accordingly, the Company is providing the preceding tables that reconcile these measures to their corresponding GAAP-based financial measures. The Company is unable to present a quantitative reconciliation of forward-looking expected net leverage ratio to its most directly comparable forward-looking GAAP financial measure because such information is not available, and management cannot reliably predict all of the necessary components of such GAAP financial measure without unreasonable effort or expense. In addition, the Company believes such reconciliation would imply a degree of precision that would be confusing or misleading to investors. The Company believes that these Non-GAAP Financial Measures provide useful information to management and investors regarding financial and business trends relating to its financial condition and results of operations. The Company believes that these Non-GAAP Financial Measures, in combination with the Company’s financial results calculated in accordance with GAAP, provide investors with additional perspective regarding the impact of certain charges and benefits on applicable income, margin and earnings per share measures. The Company also believes that these Non-GAAP Financial Measures reflect the operating performance of its business and facilitate a more direct comparison of the Company’s performance with its competitors. The material limitation associated with the use of the Non-GAAP Financial Measures is that the Non-GAAP Financial Measures do not reflect the full economic impact of the Company’s activities. These Non-GAAP Financial Measures are not prepared in accordance with GAAP, are not an alternative to GAAP financial measures and may be calculated differently than non-GAAP financial measures disclosed by other companies. Accordingly, undue reliance should not be placed on non-GAAP financial measures.
(2)						Free cash flow represents net cash provided by operating activities less capital and intangible asset expenditures.
(3)						Non-cash asset impairment charges were recognized, during the three and six months ended August 31, 2025, to reduce goodwill and other intangible assets, which impacted both the Beauty & Wellness and Home & Outdoor segments.
(4)						Organic business refers to net sales revenue associated with product lines or brands after the first twelve months from the date the product line or brand is acquired, excluding the impact that foreign currency remeasurement had on reported net sales revenue. Net sales revenue from internally developed brands or product lines is considered Organic business activity.
(5)						Represents settlement costs and legal fees related to lawsuits involving products sold by the North America personal care business divested on June 7, 2021, for which the Company tendered indemnification (“divestiture litigation costs”). Beginning with the second quarter of fiscal 2027, management determined that costs related to this matter will be adjusted in the Company’s non-GAAP financial measures going forward. Accordingly, adjusted operating income, adjusted EBITDA and adjusted income exclude $4.0 million of divestiture litigation costs for the three and six months ended August 31, 2026 and are reconciled to their applicable GAAP-based financial measure.
(6)						Represents income tax expense from the recognition of valuation allowances in fiscal 2026 on deferred tax assets related to the Company’s intangible asset reorganization in fiscal 2025 (“intangible asset reorganization”).
(7)						Accounts receivable turnover uses 12 month trailing net sales revenue. The current and four prior quarters’ ending balances of trade accounts receivable are used for the purposes of computing the average balance component as required by the particular measure.
(8)						Net leverage ratio is calculated as (a) total borrowings under the Company’s credit agreement, net of unrestricted cash and cash equivalents, including readily marketable obligations issued, guaranteed or insured by the U.S. with maturities of two years or less, at the end of the current period, divided by (b) Adjusted EBITDA per the Company’s credit agreement (calculated as EBITDA plus non-cash charges and certain allowed addbacks, less certain non-cash income, plus the pro forma effect of acquisitions and certain pro forma run-rate cost savings for acquisitions and dispositions, as applicable for the trailing twelve months ended as of the current period).
(9)						Domestic net sales revenue includes net sales revenue from the U.S. and Canada.
(10)						Represents a pre-tax gain on the sale of the Company’s distribution facility in Southaven, Mississippi which was completed on April 14, 2026, during the first quarter of fiscal 2027 (“gain on sale of distribution facility”).
(11)						Represents costs incurred in connection with the departure of the Company’s former CEO primarily related to severance and recruitment costs (“CEO succession costs”).
(12)						Settlement costs related to EPA packaging and labeling compliance for certain products in the air filtration, water filtration and humidification categories within the Beauty & Wellness segment (“EPA compliance costs”).
(13)						See reconciliation of Adjusted EBITDA to the most directly comparable GAAP-based financial measure (net income (loss)) in the accompanying tables to this press release.

20

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