Shares of Helen of Troy surged Monday after the company reported better-than-expected fiscal first-quarter financials.
Helen of Troy stock shot up around 16% to 130.90 Monday during regular market trading. The company — with brands including Vicks, Braun, Hydro Flask, Osprey, Honeywell and others — reported Q1 profits that fell 19% to $1.94 per share. Sales slipped 6% to $475 million.
Analysts had predicted EPS of $1.68 and revenue of $465.4 million.
Helen of Troy also reiterated its fiscal 2024 adjusted EPS of $8.50-$9.00. It predicts net sales of $1.965 billion-$2.015 billion in fiscal 2024. The company added it continues to deal with pressure from consumers adjusting spending habits amid inflation and high interest rates.
Chief Executive Julien Mininberg said in a statement that HELE's retail partners have "more normalized" inventory levels. Mininberg added that retailers are "increasingly matching their orders to consumer demand after significant adjustments affecting nearly all consumer discretionary categories over the past year."
Helen Of Troy Stock
HELE shares surged past a 125.99 buy point, according to MarketSmith, early Monday on earnings. That technically put Helen of Troy stock in a buy range around 4% above the entry, but the stock has weak fundamentals and is extended after a four-week advance.
HELE is up 18% in 2023 and has advanced 61% since April 26 lows of 81.14.
Helen of Troy stock ranks 11th in IBD's Cosmetics/Personal Care industry group. HELE has a Composite Rating of 55. It has a 69 Relative Strength Rating and a 55 EPS Rating.
Fellow industry group stocks Coty and Inter Parfums also rose Monday, by 5% and 3.9% respectively.
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