EDGEWELL PERSONAL CARE Co

Previous wording

The following discussion and analysis of our financial condition and results of operations should be read in conjunction with our unaudited Condensed Consolidated Financial Statements and the accompanying notes included in this Quarterly Report on Form 10-Q and our Annual Report on Form 10-K filed with the SEC on November 14, 2024, as amended on November 21, 2024 (the “2024 Annual Report”). The following discussion may contain forward-looking statements that reflect our plans, estimates, and beliefs and involve risks, uncertainties, and assumptions. Our actual results could differ materially from those discussed in these forward-looking statements. Factors that could cause or contribute to these differences include those discussed within “Forward-Looking Statements” below and in Item 1A. Risk Factors and “Forward-Looking Statements” included within our 2024 Annual Report.

Current wording

The following discussion and analysis of our financial condition and results of operations should be read in conjunction with our unaudited Condensed Consolidated Financial Statements and the accompanying notes included in this Quarterly Report on Form 10-Q and our Annual Report on Form 10-K filed with the SEC on November 14, 2024, as amended on November 21, 2024 (the “2024 Annual Report”). The following discussion may contain forward-looking statements that reflect our plans, estimates, and beliefs and involve risks, uncertainties, and assumptions. Our actual results could differ materially from those discussed in these forward-looking statements. Factors that could cause or contribute to these differences include those discussed within “Forward-Looking Statements” below and in Item 1A. Risk Factors and “Forward-Looking Statements” included within our 2024 Annual Report or in our Quarterly Report on Form 10-Q for the period ended March 31, 2025.

Previous wording

In addition, other risks and uncertainties not presently known to us or that we presently consider immaterial could significantly affect the forward-looking statements. All forward-looking statements should be evaluated with the understanding of their inherent uncertainty. Risks and uncertainties include those detailed from time to time in our publicly filed documents, including in Item 1A. Risk Factors of Part I of our 2024 Annual Report.

Current wording

In addition, other risks and uncertainties not presently known to us or that we presently consider immaterial could significantly affect the forward-looking statements. All forward-looking statements should be evaluated with the understanding of their inherent uncertainty. Risks and uncertainties include those detailed from time to time in our publicly filed documents, including in Item 1A. Risk Factors of Part I of our 2024 Annual Report or in our Quarterly Report on Form 10-Q for the period ended March 31, 2025.

Previous wording

The following is a summary of key results for the second quarter and first six months of fiscal 2025, as compared to the corresponding periods in fiscal 2024. In addition to net sales, net earnings and earnings per share (“EPS”) for the periods presented were also impacted by certain costs or income, as described in the table below. The impact of these items on reported net earnings and EPS are provided as a reconciliation of net earnings and EPS to adjusted net earnings and adjusted diluted EPS, both of which are non-GAAP measures.

Current wording

The following is a summary of key results for the third quarter and first nine months of fiscal 2025, as compared to the corresponding periods in fiscal 2024. In addition to net sales, net earnings and earnings per share (“EPS”) for the periods presented were also impacted by certain costs or income, as described in the table below. The impact of these items on reported net earnings and EPS are provided as a reconciliation of net earnings and EPS to adjusted net earnings and adjusted diluted EPS, both of which are non-GAAP measures.

Previous wording

•Net sales in the second quarter of fiscal 2025 decreased $18.7, or 3.1%, to $580.7, as compared to the prior year quarter. Organic net sales decreased $8.9, or 1.5%. Growth in international markets was 2.9%, driven by both price and volume gains, and seen across Wet Shave and Sun & Skin Care. Organic sales declined in North America by 3.9%, due to volume declines in Wet Shave, Feminine Care, and Sun Care.

Current wording

•Net sales in the third quarter of fiscal 2025 decreased $20.6, or 3.2%, to $627.2, as compared to the prior year quarter. Organic net sales decreased $27.5, or 4.2%. Organic growth in international markets was 2.2%, largely driven by price gains, seen across Wet Shave and Sun & Skin Care. Organic sales declined in North America by 8.0%, due to volume declines and increased promotional levels in Sun Care, Wet Shave, and Feminine Care.

Previous wording

•Net earnings in the second quarter of fiscal 2025 were $29.0 compared to $36.0 in the prior year quarter. On an adjusted basis, net earnings for the second quarter of fiscal 2025 were $41.8 compared to $44.0 in the prior year quarter. Adjusted net earnings decreased primarily due to lower net sales.

Current wording

•Net earnings in the third quarter of fiscal 2025 were $29.1 compared to $49.0 in the prior year quarter. On an adjusted basis, net earnings for the third quarter of fiscal 2025 were $43.4 compared to $61.2 in the prior year quarter. Adjusted net earnings decreased primarily due to lower net sales.

Previous wording

•Diluted net earnings per share during the second quarter of fiscal 2025 were $0.60 compared to $0.72 in the prior year quarter. On an adjusted basis, diluted net earnings per share during the second quarter of fiscal 2025 were $0.87 compared to $0.88 in the prior year quarter.

Current wording

•Diluted net earnings per share during the third quarter of fiscal 2025 were $0.62 compared to $0.98 in the prior year quarter. On an adjusted basis, diluted net earnings per share during the third quarter of fiscal 2025 were $0.92 compared to $1.22 in the prior year quarter.

Previous wording

•Net sales in the first six months of fiscal 2025 decreased $29.2, or 2.7%, to $1,059.1, as compared to the prior year period. Organic net sales decreased $15.4, or 1.4%. Organic growth in international markets was 2.4%, driven by both price and volume gains, and seen across Wet Shave and Sun & Skin Care. Organic sales declined in North America by 3.9%, due to declines in Wet Shave and Feminine Care. Globally, by segment, growth in Sun and Skin Care, led by increases in Wet One’s and Grooming, was offset by declines in Feminine Care and Wet Shave. In aggregate, organic net sales decreased as a result of volume declines in Wet Shave, Feminine Care, and Sun Care.

Current wording

•Net sales in the first nine months of fiscal 2025 decreased $49.8, or 2.9%, to $1,686.3, as compared to the prior year period. Organic net sales decreased $42.9, or 2.5%. Organic growth in international markets was 2.3%, driven by both price and volume gains, and seen across Wet Shave and Sun & Skin Care. Organic sales declined in North America by 5.4%, due to declines in Wet Shave, Sun Care and Feminine Care. Globally, organic growth in Grooming and Skin Care was more than offset by declines in Sun Care, Feminine Care and Wet Shave. In aggregate, organic net sales decreased as a result of volume declines in Wet Shave, Feminine Care and Sun Care.

Previous wording

•Net earnings in the first six months of fiscal 2025 were $26.9 compared to $40.8 in the prior year period. On an adjusted basis, net earnings for the first six months of fiscal 2025 were $45.1 compared to $56.0 in the prior year period. Adjusted net earnings decreased primarily due to lower net sales offset by a slight increase in gross margin.

Current wording

•Net earnings in the first nine months of fiscal 2025 were $56.0 compared to $89.8 in the prior year period. On an adjusted basis, net earnings for the first nine months of fiscal 2025 were $88.5 compared to $117.2 in the prior year period. Adjusted net earnings decreased primarily due to lower net sales and a decrease in gross margin.

Previous wording

•Diluted net earnings per share during the first six months of fiscal 2025 were $0.55 compared to $0.81 in the prior year period. On an adjusted basis, diluted net earnings per share during the first six months of fiscal 2025 were $0.93 compared to $1.11 in the prior year period.

Current wording

•Diluted net earnings per share during the first nine months of fiscal 2025 were $1.17 compared to $1.79 in the prior year period. On an adjusted basis, diluted net earnings per share during the first nine months of fiscal 2025 were $1.84 compared to $2.33 in the prior year period.

Previous wording

The following table presents changes in net sales for the second quarter and first six months of fiscal 2025, as compared to the corresponding periods in fiscal 2024, and provides a reconciliation of organic net sales to reported amounts.

Current wording

The following table presents changes in net sales for the third quarter and first nine months of fiscal 2025, as compared to the corresponding periods in fiscal 2024, and provides a reconciliation of organic net sales to reported amounts.

Previous wording

For the second quarter of fiscal 2025, net sales decreased $18.7, or 3.1%, to $580.7, including a $9.8, or 1.6%, unfavorable impact from currency movements, as compared to the prior year quarter. Organic net sales decreased $8.9, or 1.5%. Growth in international markets was 2.9%, driven by both price and volume gains, and seen across Wet Shave and Sun & Skin Care. Organic sales declined in North America by 3.9%, due to volume declines in Wet Shave, Feminine Care, and Sun Care.

Current wording

For the third quarter of fiscal 2025, net sales decreased $20.6, or 3.2%, to $627.2, including a $6.9, or 1.1%, favorable impact from currency movements, as compared to the prior year quarter. Organic net sales decreased $27.5, or 4.2%. Organic growth in international markets was 2.2%, largely driven by price gains, seen across Wet Shave and Sun & Skin Care. Organic sales declined in North America by 8.0%, due to volume declines and increased promotional levels in Sun Care, Wet Shave, and Feminine Care.

Previous wording

For the first six months of fiscal 2025, net sales were $1,059.1, a decrease of $29.2, or 2.7%, including a $13.8, or 1.3%, unfavorable impact from currency movements. Organic net sales decreased $15.4, or 1.4%. Organic growth in international markets was 2.4%, driven by both price and volume gains, and seen across Wet Shave and Sun & Skin Care. Organic sales declined in North America by 3.9%, due to declines in Wet Shave and Feminine Care. Globally, by segment, growth in Sun and Skin Care, led by increases in Wet One’s and Grooming, was offset by declines in Feminine Care and Wet Shave. In aggregate, organic net sales decreased as a result of volume declines in Wet Shave, Feminine Care, and Sun Care.

Current wording

For the first nine months of fiscal 2025, net sales were $1,686.3, a decrease of $49.8, or 2.9%, including a $6.9, or 0.4%, unfavorable impact from currency movements. Organic net sales decreased $42.9, or 2.5%. Organic growth in international markets was 2.3%, driven by both price and volume gains, and seen across Wet Shave and Sun & Skin Care. Organic sales declined in North America by 5.4%, due to declines in Wet Shave, Sun Care and Feminine Care. Globally, organic growth in Grooming and Skin Care was more than offset by declines in Sun Care, Feminine Care and Wet Shave. In aggregate, organic net sales decreased as a result of volume declines in Wet Shave, Feminine Care and Sun Care.

Previous wording

Gross profit was $256.2 during the second quarter of fiscal 2025, compared to $258.1 in the prior year quarter, a decrease of $1.9, or 0.7%. Gross margin as a percent of net sales for the second quarter of fiscal 2025 increased 100-basis points, to 44.1%, inclusive of approximately 10-basis points of negative foreign currency. Adjusted gross margin as a percent of net sales increased 100-basis points, to 44.7% in the quarter. Productivity savings of approximately 380-basis points were partially offset by increased promotional levels (net of pricing) of approximately 10-basis points, core inflation and lower volume absorption of approximately 195-basis points and unfavorable mix and other of approximately 75-basis points.

Current wording

Gross profit was $268.5 during the third quarter of fiscal 2025, compared to $287.1 in the prior year quarter, a decrease of $18.6, or 6.5%. Gross margin as a percent of net sales for the third quarter of fiscal 2025 decreased 150-basis points, to 42.8%. Adjusted gross margin, as a percent of net sales, decreased 150-basis points. Productivity savings of approximately 270-basis points were more than offset by 180-basis points of core inflation and volume absorption, approximately 110-basis points of negative foreign currency, 90-basis points of increased promotional levels (net of pricing) and 40-basis points of unfavorable mix and other.

Previous wording

Gross profit was $447.8 during the first six months of fiscal 2025, compared to $455.8 in the prior year period, a decrease of $8.0, or 1.8%. Gross margin as a percent of net sales for the second quarter of fiscal 2025 increased 40-basis points, to 42.3%, inclusive of approximately 70-basis points of negative foreign currency. Adjusted gross margin as a percent of net sales increased 20-basis points, to 42.6% in the quarter. Productivity savings of approximately 360-basis points were partially offset by increased promotional levels (net of pricing) of approximately 20-basis points, core inflation and lower volume absorption of approximately 200-basis points and unfavorable mix and other of approximately 50-basis points.

Current wording

Gross profit was $716.3 during the first nine months of fiscal 2025, compared to $742.9 in the prior year period, a decrease of $26.6, or 3.6%. Gross margin as a percent of net sales for the third quarter of fiscal 2025 decreased 30-basis points, to 42.5%. Adjusted gross margin as a percent of net sales decreased 50-basis points, to 42.8% in the quarter. Productivity savings of approximately 330-basis points were more than offset by 200-basis points of core inflation and volume absorption, 80-basis points of negative foreign currency and 50-basis points of increased promotional levels (net of pricing) and 50-basis points of unfavorable mix and other.

Previous wording

Selling, General and Administrative (“SG&A”) expense was $105.7, or 18.2%, of net sales in the second quarter of fiscal 2025 compared to $107.5, or 17.9%, of net sales in the prior year quarter. Adjusted SG&A was 18.0% of net sales, an increase of 60-basis points, primarily driven by higher people expenses and the impact of lower net sales, partially offset by favorable currency impacts.

Current wording

Selling, general and administrative (“SG&A”) expense was $104.4, or 16.6%, of net sales in the third quarter of fiscal 2025 compared to $110.1, or 17.0%, of net sales in the prior year quarter. Adjusted SG&A was 16.2% of net sales, flat to the prior year quarter, which was primarily driven by lower incentive compensation expense and favorable currency impacts, partly offset by higher consulting expenses and the impact of lower net sales.

Previous wording

SG&A expense was $208.6, or 19.7%, of net sales in the first six months of fiscal 2025 compared to $210.8, or 19.4%, of net sales in the prior year period. Adjusted SG&A was $205.7, or 19.4% of net sales, an increase of 40-basis points, primarily driven by the impact of lower net sales and unfavorable currency impacts.

Current wording

SG&A expense was $313.0, or 18.6%, of net sales in the first nine months of fiscal 2025 compared to $320.9, or 18.5%, of net sales in the prior year period. Adjusted SG&A was $307.5, or 18.2% of net sales, an increase of 20-basis points, which was primarily driven by the impact of lower net sales, higher consulting expenses and unfavorable currency impacts, partially offset by lower incentive compensation expense.

Previous wording

Advertising and sales promotion (“A&P”) expense for the second quarter of fiscal 2025 was $65.5, an increase of $2.4, or 3.8%, compared to $63.1 in the prior year quarter. A&P was 11.3% of net sales, compared to 10.5% in the prior year quarter.

Current wording

Advertising and sales promotion (“A&P”) expense for the third quarter of fiscal 2025 was $80.4, an increase of $3.8, or 5.0%, compared to $76.6 in the prior year quarter. A&P was 12.8% of net sales, compared to 11.8% in the prior year quarter.

Previous wording

A&P expense for the first six months of fiscal 2025 was $115.8, an increase of $4.5, or 4.0%, compared to $111.3 in the prior year period. A&P was 10.9% of net sales, compared to 10.2% in the prior year period.

Current wording

A&P expense for the first nine months of fiscal 2025 was $196.2, an increase of $8.3, or 4.4%, compared to $187.9 in the prior year period. A&P was 11.6% of net sales, compared to 10.8% in the prior year period.

Previous wording

Research and development (“R&D”) expense for the second quarter of fiscal 2025 was $13.9, a decrease of $0.3, or 2.1%, compared to $14.2 in the prior year quarter. As a percentage of net sales, R&D expense was 2.4% in the second quarter of fiscal 2025, compared to 2.4% in the prior year quarter.

Current wording

Research and development (“R&D”) expense for the third quarter of fiscal 2025 was $14.0, a decrease of $0.6, or 4.1%, compared to $14.6 in the prior year quarter. As a percentage of net sales, R&D expense was 2.2% in the third quarter of fiscal 2025, compared to 2.3% in the prior year quarter.

Previous wording

R&D expense for the first six months of fiscal 2025 was $27.8, an increase of $0.3, or 1.1%, compared to $27.5 in the prior year period. As a percentage of net sales, R&D expense was 2.6% in the second quarter of fiscal 2025, compared to 2.5% in the prior year period.

Current wording

R&D expense for the first nine months of fiscal 2025 was $41.8, a decrease of $0.3, or 0.7%, compared to $42.1 in the prior year period. As a percentage of net sales, R&D expense was 2.5% in the third quarter of fiscal 2025, compared to 2.4% in the prior year period.

Previous wording

In fiscal 2025, the Company continues to take specific actions to strengthen its operating model, simplify the organization and improve manufacturing and supply chain efficiency through restructuring and repositioning actions, including certain operational and organizational steps designed to streamline the Company’s operations and supply chain by consolidating its current Mexico operations in Oregon and Mexico City into a single facility in Aguascalientes, Mexico. As a result of these actions, we expect to incur pre-tax charges of approximately $33 in fiscal 2025. We incurred $12.2 and $3.2 during the second quarter of fiscal 2025 and 2024, respectively, and $16.4 and $10.0 during the first six months of fiscal 2025 and 2024, respectively.

Current wording

In fiscal 2025, the Company continues to take specific actions to strengthen its operating model, simplify the organization and improve manufacturing and supply chain efficiency through restructuring actions, including certain operational and organizational steps designed to streamline the Company’s operations and supply chain by consolidating its current Mexico operations in Obregon and Mexico City into a single facility in Aguascalientes, Mexico. As a result of these actions, we expect to incur pre-tax charges of approximately $44 in fiscal 2025. We incurred $16.0 and $3.1 during the third quarter of fiscal 2025 and 2024, respectively, and $32.4 and $13.1 during the first nine months of fiscal 2025 and 2024, respectively.

Previous wording

Interest expense associated with debt for the second quarter of fiscal 2025 was $20.2, a decrease of $0.2, or 1.0%, compared to $20.4 in the prior year quarter. The decrease in interest expense was the result of a lower borrowing rate on the Company’s U.S. Revolving Credit Facility.

Current wording

Interest expense associated with debt for the third quarter of fiscal 2025 was $19.4, an increase of $0.6, or 3.2%, compared to $18.8 in the prior year quarter. The increase in interest expense was the result of higher borrowing levels on the Company’s U.S. Revolving Credit Facility.

Previous wording

Interest expense associated with debt for the first six months of fiscal 2025 was $39.0, a decrease of $1.2, or 3.0%, compared to $40.2 in the prior year period. The decrease in interest expense was the result of a lower borrowing rate on the Company’s Revolving Credit Facility.

Current wording

Interest expense associated with debt for the first nine months of fiscal 2025 was $58.4, a decrease of $0.6, or 1.0%, compared to $59.0 in the prior year period. The decrease in interest expense was the result of a lower borrowing rate on the Company’s U.S. Revolving Credit Facility.

Previous wording

Other (income) expense, net, was income of $2.6 in the second quarter of fiscal 2025, compared to expense of $2.7 in the prior year quarter. Currency hedge and remeasurements gains were $2.4 million in the second quarter of 2025, compared to losses of $0.3 million in the prior year quarter.

Current wording

Other (income) expense, net, was income of $2.9 in the third quarter of fiscal 2025, compared to expense of $1.4 in the prior year quarter. Currency hedge and remeasurements gains were $1.1 million in the current quarter, compared to a gain of $3.3 million in the prior year quarter. The current year quarter included $2.7 of other project gains, compared to the prior year quarter which included a loss on investment of $3.1. Adjusted other (income) expense, net was income of $0.2 compared to income of $1.7 in the prior year quarter.

Previous wording

Other (income) expense, net, was $0.6 in the first six months of fiscal 2025, including a gain on investment of $0.9, compared to $3.0 in the prior year period. Currency hedge and remeasurements gains were $0.4 million in the first six months of 2025, compared to gains of $1.0 million in the prior year period.

Current wording

Other (income) expense, net, was income of $2.3 in the first nine months of fiscal 2025, including a gain on investment of $0.9, compared to expense of $4.4 in the prior year period. Currency hedge and remeasurements gains were $1.4 million in the current period, compared to a gain of $4.3 million in the prior year period. The current year period included $1.5 of other project gains, compared to the prior year period which included a loss on investment of $3.1. Adjusted other (income) expense, net was expense of $0.1 compared to expense of $1.3 in the prior year quarter.

Previous wording

The effective tax rate for the second quarter of fiscal 2025, was 29.9%, compared to 23.4% in the prior year quarter. The fiscal 2025 effective tax rate reflects the impact of net unfavorable discrete items and the unfavorable mix of earnings in higher tax rate jurisdictions. On an adjusted basis, the effective tax rate was 28.5% for the second quarter ended March 31, 2025, and 23.6% in the prior year quarter.

Current wording

The effective tax rate for the third quarter of fiscal 2025, was 21.7%, compared to 21.6% in the prior year quarter. The fiscal 2025 effective tax rate reflects the impact of less favorable discrete items compared to the prior year quarter. On an adjusted basis, the effective tax rate was 22.4% for the third quarter ended June 30, 2025, and 21.2% in the prior year quarter.

Previous wording

The effective tax rate for the first six months of fiscal 2025, was 32.1%, compared to 23.0% in the prior year period. The fiscal 2025 effective tax rate reflects the impact of net unfavorable discrete items and the unfavorable mix of earnings in higher tax rate jurisdictions. On an adjusted basis, the effective tax rate was 29.9% for the first six months ended March 31, 2025, and 23.5% in the prior year period.

Current wording

The effective tax rate for the first nine months of fiscal 2025, was 27.0%, compared to 22.2% in the prior year period. The fiscal 2025 effective tax rate reflects the impact of net unfavorable discrete items compared to the prior year period which included net favorable discrete items. On an adjusted basis, the effective tax rate was 26.4% for the first nine months ended June 30, 2025, and 22.3% in the prior year period.

Previous wording

The following tables present changes in segment net sales and segment profit for the second quarter and first six months of fiscal 2025, compared to the corresponding period in fiscal 2024, and provide a reconciliation of organic segment net sales and organic segment profit to reported amounts. For a reconciliation of segment profit to earnings before income taxes, refer to Note 15 of Notes to Condensed Consolidated Financial Statements.

Current wording

The following tables present changes in segment net sales and segment profit for the third quarter and first nine months of fiscal 2025, compared to the corresponding period in fiscal 2024, and provide a reconciliation of organic segment net sales and organic segment profit to reported amounts. For a reconciliation of segment profit to earnings before income taxes, refer to Note 15 of Notes to Condensed Consolidated Financial Statements.

Previous wording

Wet Shave net sales for the second quarter of fiscal 2025 were $285.5, a decrease of $7.6, or 2.6%, as compared to the prior year quarter, including a $5.1, or 1.7%, unfavorable impact from currency. Organic net sales decreased $2.5, or 0.9%, as 3.2% growth in international markets, driven by both higher volumes and price, was more than offset by volume declines in Shave Preps and Disposables in North America. Organic net sales declined 5.4% in North America.

Current wording

Wet Shave net sales for the third quarter of fiscal 2025 were $317.0, an increase of $0.7, or 0.2%, as compared to the prior year quarter, including a $6.4, or 2.0%, favorable impact from currency. Organic net sales decreased $5.7, or 1.8%, as 2.8% growth in international markets, driven by higher price, was more than offset by volume declines and increased promotional levels in North America. Organic net sales declined 7.8% in North America.

Previous wording

Wet Shave net sales for the first six months of fiscal 2025 were $580.0, a decrease of $14.8, or 2.5%, as compared to the prior year period, including a $8.3, or 1.4%, unfavorable impact from currency. Organic net sales decreased $6.5, or 1.1%, as 3.0% growth in international markets, driven by both higher volumes and price, was more than offset by a 6.0% decline in North America, driven by lower volumes.

Current wording

Wet Shave net sales for the first nine months of fiscal 2025 were $897.0, a decrease of $14.1, or 1.5%, as compared to the prior year period, including a $1.9, or 0.2%, unfavorable impact from currency. Organic net sales decreased $12.2, or 1.3%, as 2.9% growth in international markets, driven by both higher volumes and price, was more than offset by a 6.6% decline in North America, driven by lower volumes.

Previous wording

Wet Shave segment profit for the second quarter of fiscal 2025 was $46.6, an increase of $6.2, or 15.3%, and inclusive of a $0.5, or 1.2%, unfavorable impact from currency. Organic segment profit increased $6.7, or 16.5%, as higher gross margins were partially offset by higher marketing expenses.

Current wording

Wet Shave segment profit for the third quarter of fiscal 2025 was $44.1, a decrease of $3.5, or 7.4%, and inclusive of a $4.6, or 9.7%, unfavorable impact from currency. The increase in organic segment profit $1.1, or 2.3%, excluding the impact of foreign currency, was due to higher gross margins and lower SG&A spend, partly offset by higher marketing expenses.

Previous wording

Wet Shave segment profit for the first six months of fiscal 2025 was $93.2, a decrease of $0.9, or 1.0%, and inclusive of a $7.4, or 7.9%, unfavorable impact from currency. Organic segment profit increased $6.5, or 6.9%, as higher gross margins were primarily offset by higher marketing expenses.

Current wording

Wet Shave segment profit for the first nine months of fiscal 2025 was $137.3, a decrease of $4.4, or 3.1%, and inclusive of a $12.0, or 8.5%, unfavorable impact from currency. Organic segment profit increased $7.6, or 5.4%, as higher gross margins were partly offset by higher marketing expenses.

Previous wording

Sun and Skin Care net sales for the second quarter of fiscal 2025 decreased $4.7, or 2.0%, including an unfavorable impact from foreign currency of $4.5, or 1.9%. Organic net sales decreased $0.2, or 0.1%, as growth in Grooming in and Wet Ones, was offset by declines in North America Sun Care. In aggregate, the decrease in organic sales was related to a 0.5% decline in North America , partially offset by an increase of 1.5% in International sales.

Current wording

Sun and Skin Care net sales for the third quarter of fiscal 2025 decreased $13.5, or 5.3%, as compared to the prior year quarter, including a favorable impact from foreign currency of $0.6, or 0.2%. Organic net sales decreased $14.1, or 5.5%, largely driven by weather related volume declines and increased competition in North America Sun Care. Grooming increased 6.1% driven by increased volumes. In aggregate, the decrease in organic sales was related to a 7.1% decline in North America , partially offset by an increase of 0.7% in International sales.

Previous wording

Sun and Skin Care net sales for the first six months of fiscal 2025 increased $0.5, or 0.1%, including an unfavorable impact from foreign currency of $5.2, or 1.5%. Organic net sales increased $5.7, or 1.6%, driven by strong performance in Grooming and Wet One’s, led by Cremo, partly offset by declines in North America Sun Care. In aggregate, the increase in organic sales was related to a 1.2% increase in North America and an increase of 0.4% in International sales.

Current wording

Sun and Skin Care net sales for the first nine months of fiscal 2025 decreased $13.0, or 2.1%, as compared to the prior year period, including an unfavorable impact from foreign currency of $4.6, or 0.8%. Organic net sales decreased $8.4, or 1.3%, driven by declines in North America Sun Care, partially offset by strong performance in Grooming and Wet One’s, led by Cremo. In aggregate, the decrease in organic sales was related to a 1.7% decrease in North America, partially offset by an increase of 0.3% in International sales.

Previous wording

Sun and Skin Care segment profit for the first six months of fiscal 2025 was $47.4, a decrease of $5.7, or 10.7%, including an unfavorable impact from foreign currency of $3.1, or 5.8%. Organic segment profit decreased $2.6, or 4.9%, driven by lower gross margin and higher SG&A expenses, partially offset by lower market expenses.

Current wording

Sun and Skin Care segment profit for the first nine months of fiscal 2025 was $93.4, a decrease of $23.9, or 20.4%, as compared to the prior year period, including an unfavorable impact from foreign currency of $4.4, or 3.8%. Organic segment profit decreased $19.5, or 16.6%, driven by lower gross margin and higher SG&A expenses, partially offset by lower marketing expenses.

Previous wording

Feminine Care net sales for the second quarter of fiscal 2025 were $64.1, a decrease of $6.4, or 9.1%, with minimal currency impact. Organic net sales decreased $6.2, or 8.8%, largely driven by a decline in Pads and Tampons. In aggregate, the decrease in organic sales was related to a 9.9% decline in North America , partially offset by an increase of 11.2% in International sales.

Current wording

Feminine Care net sales for the third quarter of fiscal 2025 were $66.8, a decrease of $7.8, or 10.5%, with minimal currency impact. Organic net sales decreased $7.7, or 10.4%, largely driven by a decline in Pads and Tampons. In aggregate, the decrease in organic sales was driven by a 10.8% decline in North America and a 3.6% decline in International sales.

Previous wording

Feminine Care net sales for the first six months of fiscal 2025 were $127.4, a decrease of $14.9, or 10.5%. Organic net sales decreased $14.6, or 10.3%, largely driven by a decline in Pads and Tampons, and to a lesser extent, Liners. In aggregate, the decrease in organic sales was related to a 10.2% decline in North America and a 12.1% decline in International sales.

Current wording

Feminine Care net sales for the first nine months of fiscal 2025 were $194.2, a decrease of $22.7, or 10.5%. Organic net sales decreased $22.3, or 10.3%, largely driven by a decline in Pads and Tampons. In aggregate, the decrease in organic sales was related to a 10.4% decline in North America and a 9.1% decline in International sales.

Previous wording

Feminine Care segment profit for the first six months of fiscal 2025 was $6.3, a decrease of $9.7, or 60.6%. Organic segment profit decreased $9.6, or 60.0%, primarily driven by lower gross profit and was partially offset by lower SG&A expenses.

Current wording

Feminine Care segment profit for the first nine months of fiscal 2025 was $10.8, a decrease of $11.8, or 52.2%. Organic segment profit decreased $11.3, or 50.0%, primarily driven by lower gross profit and was partially offset by lower SG&A and marketing expenses.

Previous wording

For the second quarter of fiscal 2025 and 2024, corporate expenses were $59.2, or 10.2%, of net sales, compared to $56.5, or 9.4% in the prior year quarter. For the first six months of fiscal 2025 and 2024, corporate expenses were $107.3, or 10.1%, of net sales, compared to $110.2, or 10.1% in the prior year period.

Current wording

For the third quarter of fiscal 2025 and 2024, corporate expenses were $57.4, or 9.2%, of net sales, compared to $55.9, or 8.6% in the prior year quarter. For the first nine months of fiscal 2025, corporate expenses were $164.7, or 9.8%, of net sales, compared to $166.1, or 9.6% in the prior year period.

Previous wording

During the first six months of fiscal 2025, we recorded a gain of $0.9 for an equity method investment.

Current wording

During the first nine months of fiscal 2025, we recorded a gain of $0.9 for an equity method investment. During both the third quarter and the first nine months of fiscal 2024, we recorded a loss of $3.1 on an equity method investment and a related note receivable as a result of a new contractual agreement.