Helen of Troy Boasts Best-Ever Quarterly Performance, Raises Outlook

By RetailFOXBusiness

Helen of Troy (NASDAQ:HELE) revealed third-quarter earnings that topped Wall Street expectations on Wednesday, prompting the company to raise its full-year revenue outlook and igniting a buying frenzy.

The household, personal and consumer products maker reported net income of $37.7 million, or $1.18 a share, compared with a year-earlier profit of $32.8 million, or $1.04.

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The results topped average analyst estimates of $1.13 a share in a Thomson Reuters poll.

Revenue for the three months ended Nov. 30 was $374.6 million, up 10.6% from $338.8 million a year ago, missing the Street’s view of $379.2 million.

Strong sales growth in the healthcare, home environment and housewares groups helped offset virtually flat personal care revenue.

“This was the best quarter in the company’s history in terms of net sales and net income,” Helen of Troy CEO Gerald Rubin said. “We believe the positive results in the third fiscal quarter validate the strategic vision of Helen of Troy as a leading global consumer product company.”

Reflecting the robust earnings performance, Helen of Troy raised its fiscal 2013 sales forecast to a range of $1.275 billion to $1.3 billion, bracketing the consensus’s $1.29 billion view.

It still sees full-year EPS between $3.50 and $3.60, in-line with the Street’s $3.56.

Shares of Helen of troy ticked up more than 3% to $34.60 in morning trade.