'We're optimistic for the balance of the year,' Edgewell Personal Care CEO Rod Little told CNBC on Tuesday, as the company's stock sold off post-earnings.
CEO Rod Little told CNBC on Tuesday he expects demand for the company's care and grooming products to increase in the coming months, as the intensity of the coronavirus pandemic wanes.
Edgewell — the parent firm of Banana Boat, Playtex and Schick — also should have an easier time meeting that demand, Little said. Late last year, the company's production was limited as workers called out sick during the height of the Covid omicron wave. At the peak in December, Little estimated about 10% of Edgewell's manufacturing workforce was out with Covid.
Little's comments on CNBC came after Edgewell reported mixed first-quarter results before Tuesday's market open. Revenue of $463 million missed Wall Street estimates of $465 million, according to Refinitiv, while per-share earnings of 42 cents topped forecasts by 1 cent. Despite an uptick in inflationary pressures, Little said there is some good news for investors because it's primarily related to increased materials costs. It is unlikely those are structural changes, he said.
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