EL PASO, Texas (BRAIN) — Led by a surge in travel and lifestyle pack demand in the second quarter, Osprey and Hydro Flask parent Helen of Troy reported an overall 2.1% year-over-year net sales increase. The quarterly result included pre-tax tariff refunds of $26.9 million, of which about $23 million was reinvested in the quarter.
For the period ending Aug. 31, Helen of Troy net sales were $440.9 million, compared with $431.8 million at the same time last year. Home & Outdoor category net sales increased 9.2% year-over-year, off-setting a 4.5% decrease in Helen of Troy's other category, Beauty & Wellness.
The company also said the Home & Outdoor category benefited from increasing international sales, assortment and distribution gains, higher closeout channel sales, and a gradual sales increase from new products.
Helen of Troy said its adjusted EBITDA was raised from $190 million-$197 million to $203 million-$210 million. The adjusted EBITDA includes the pre-tax benefit of about $10 million to $14 million from tariff refunds, net of reinvestments.
Net income for the quarter was $4.6 million, compared with net income loss of $308.6 million at the same time last year. Diluted earnings per share was $0.19, compared to diluted loss per share of $13.44.
Helen of Troy's corporate headquarters is in El Paso, Texas, and its stock is traded on the NASDAQ under the HELE symbol. Stock quote on Nasdaq.
