Shares of Edgewell Personal Care (NYSE: EPC) tumbled 7.56% in pre-market trading on Wednesday after the company reported disappointing second-quarter results and lowered its full-year guidance. The personal care products manufacturer, known for brands like Schick and Banana Boat, faced challenges from a softening consumer environment and missed analyst expectations on multiple fronts.
For the second quarter, Edgewell reported adjusted earnings per share of $0.87, falling short of the consensus estimate of $0.90. Revenue also disappointed, coming in at $580.7 million compared to the expected $590.8 million, representing a 3.12% decrease from the same period last year. The company's adjusted net income of $41.8 million missed analyst projections of $43.5 million.
Adding to investor concerns, Edgewell revised its full-year outlook downward. The company now expects adjusted earnings per share between $2.85 and $3.05, with sales growth projected at just 0-1%. Management cited a challenging economic environment that may lower consumer sentiment and moderate revenue expectations in the second half of the year. This cautious outlook, combined with the weaker-than-expected Q2 performance, likely contributed to the sharp pre-market decline in Edgewell's stock price.
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