Edgewell Personal Care Announces Financial Results

Edgewell Personal Care’s net sales in the first fiscal quarter of 2021 were $451.1 million, a decrease of 0.6%, as compared to the prior year period. Excluding a $16.6 million positive impact from the Cremo acquisition, $26.8 million negative impact from the sale of the Infant and Pet Care business, and a $7.3 million favorable impact from currency translation, organic net sales were flat, driven by growth in Wet Ones, Men’s Grooming, Women’s Systems and Private Label, offset by declines in Sun Care and Feminine Care.  While Covid-19 continued to negatively impact the Wet Shave and Sun Care categories, the impact was partly mitigated by unanticipated higher demand in several International markets ahead of new, more stringent Covid-19 related lockdowns.

Feminine Care net sales decreased $6.1 million, or 8.1%, as compared to the prior year period.  The decline in net sales was largely driven by overall category declines, on-going competitive pressure and the negative effect of distribution losses, most notably at Walmart. Feminine Care segment profit decreased $4.3 million, or 32.8% as compared to the prior year period, driven by lower gross margin, reflecting lower volumes.