Edgewell Personal Care impresses with a strong third quarter and new leadership structures

Edgewell Personal Care Co. today presented impressive results for the third quarter of the fiscal year 2024 and simultaneously announced significant changes in the leadership structure. Rod Little, CEO and President of Edgewell, attributed these measures to the successful implementation of strategic transformation plans, which have positioned the company particularly well in the market. The changes in the leadership structure include the appointment of Dan Sullivan as Chief Operating Officer. Sullivan was previously Chief Financial Officer and President for Europe and Latin America at Edgewell. His new role is intended to accelerate decision-making and improve operational execution. Francesca Weissman, who has been part of Edgewell’s finance department since 2019, will assume the position of CFO as of December 1. Edgewell identified five key focus areas to ensure sustainable growth: 1. Strengthening the U.S. business. 2. Accelerating the consumer-centric innovation platform. 3. Strengthening and leveraging international business. 4. Increasing gross margin. 5. Expanding commercial capabilities. The new leadership is expected to achieve these goals through optimized structures and more effective processes. In the third quarter, the company recorded an increase in gross margin by 160 basis points, year-over-year growth of adjusted EBITDA by 7%, and an increase in adjusted earnings per share by 23%. International businesses showed organic net sales growth of over 6%, while sales in North America slightly declined. The company raised its forecast for the full fiscal year 2024 and now expects organic net sales growth of 1%, an adjusted gross margin increase of 140 basis points, and adjusted earnings per share of approximately 3 USD. Edgewell plans to further increase its gross margin while intensifying investments in innovation and brand reinvestments. Little emphasized that Edgewell is in a position of strength and that the leadership bodies have now taken all necessary measures to bring the company to an even higher level of performance.