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Sales were unfavorably impacted by $24.5 million due to a recall reserve adjustment.

Verified 25 Oct 2026 · occurred 10 Aug 2023

Detail

fourth quarter earnings: “The benefit from the adjusted gross margin expansion is expected to be more than offset by the deleverage from increases in adjusted SG&A expenses due to strategic investments and the unfavorable topline impact from the stop sale of the products affected by the recalls; • An effective tax rate of approximately 25.1% (versus the previous outlook of 24.9%; compared to 22.8% in the prior year period); • Adjusted net income per diluted share between $2.23 and $2.32 (versus the previous outlook of between $2.12 and $2.23), reflecting a 2% to 6% decrease, with earnings growth beginning in the fourth quarter of the year; • Diluted weighted average shares outstanding of approximately 87.3 million (versus the previous outlook of 87.2 million); and • Capital expenditures of approximately $60 million primarily to support investments in technology and new product innovation and launches.” Previous: “The benefit from the adjusted gross margin expansion is expected to be more than offset by the deleverage from increases in adjusted SG&A expenses due to strategic investments and the unfavorable topline impact from the stop sale of the products affected by the recalls; • An effective tax rate of approximately 25.1% (versus the previous outlook of 24.9%; compared to 22.8% in the prior year period); • Adjusted net income per diluted share between $2.23 and $2.32 (versus the previous outlook of between $2.12 and $2.23), reflecting a 2% to 6% decrease, with earnings growth beginning in the fourth quarter of the year; • Diluted weighted average shares outstanding of approximately 87.3 million (versus the previous outlook of 87.2 million); and • Capital expenditures of approximately $60 million primarily to support investments in technology and new product innovation and launches.”

Type
Earnings
Category
Financial

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