Helen Of Troy Falls In Pre-market On Slashing Annual Outlook

Shares of Helen of Troy Limited (HELE), a provider of consumer products, are down more than 14% in pre-market on Wednesday after cutting full-year earnings as well as sales outlook.

The company now expects net sales revenue for the full year to be in the range of $2.00 billion to $2.05 billion, lower than the prior outlook of $2.15 billion-$2.20 billion. Adjusted EPS outlook has been reduced to $9.00-$9.40, from $9.85-$10.35.

On average, 5 analysts polled by Thomson-Reuters expect the company to report earnings of $10.06 per share on revenue of $2.16 billion.

For the second quarter, Helen of Troy reported net income of $30.7 million or $1.28 per share, lower than $51.3 million or $2.11 per share in the same quarter a year ago.

Excluding one-time items, earnings of $2.27, that beat the consensus estimate at $2.21 per share.

Consolidated net sales revenue was $521.4 million, an increase of 9.7% from last year. Analysts expected revenue of $518.43 million.

HELE closed at $102.58, up 3.41% on Tuesday. It has traded in the range of $96.39-$256.26 in the last 1 year.

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