Why Helen Of Troy Shares Are Surging Today
Portfolio Pulse from Shivani Kumaresan
Helen Of Troy Ltd (NASDAQ:HELE) reported a Q1 FY24 sales decline of 6.6% YoY to $474.67 million, beating the analyst consensus of $465.36 million. The decrease was primarily due to lower sales in several categories. Adjusted EPS of $1.94 beat the analyst consensus of $1.60. The company continues its global restructuring plan, Project Pegasus, to improve efficiency and reduce costs. Helen Of Troy expects FY24 revenue of $1.965 billion - $2.015 billion against the consensus of $2 billion. HELE shares are trading higher by 9.29% at $123.00 in premarket.
July 10, 2023 | 12:16 pm
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Helen Of Troy Ltd reported a Q1 FY24 sales decline but beat the analyst consensus. The company continues its restructuring plan and expects FY24 revenue in line with consensus. HELE shares are trading higher.
Despite the sales decline, Helen Of Troy beat the analyst consensus for both sales and EPS, which is likely driving the stock price up. The company's restructuring plan and FY24 revenue expectation in line with consensus also contribute to the positive sentiment.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100