Helen of Troy reports Q1 non-GAAP EPS 99c, consensus $1.59

Reports Q1 revenue $416.8M, consensus $445.85M. CEO Noel Geoffroy stated: “We are disappointed with the start to our fiscal year. We battled an unusual number of internal and external challenges in the quarter, which resulted in net sales and adjusted EPS below our outlook. Many of these challenges became more pronounced toward the end of Q1 and some continue to evolve…As a result, we are lowering our annual outlook, which delays the delivery of the long-term financial algorithm in our strategic plan. Despite the challenges we currently face, I remain confident the strategies we are implementing are the right ones to improve the long-term health of our brands, return our company to positive sales and earnings growth, and deliver sustained shareholder value creation. Project Pegasus continues to provide us with fuel to fund our initiatives and organizational focus to capture opportunities and leverage our scale…”