Helen of Troy Filtration, Humidifier Shipments Delayed by EPA Compliance Issue
July 08 2021 - 7:39AM
Dow Jones News
By Matt Grossman
Helen of Troy Ltd. said Thursday that regulatory issues
surrounding claims on its packaging for filtration and humidifier
products have delayed some shipments.
The El Paso, Texas-based company said it is in discussions with
the U.S. Environmental Protection Agency about the compliance of
packaging claims on some products sold under the company's health
and home segment. Helen of Troy stopped some shipments on May 27
because of the issues, the company said.
The delays will cause an unfavorable revenue impact of $110
million to $135 million and an unfavorable adjusted earnings per
share impact of 70 cents to $1 in Helen of Troy's results for the
full fiscal year, the company said.
This week, Helen of Troy resumed shipments of some affected
water-filtration products after the EPA approved modest changes to
labeling claims. It is still working to resolve issues around
packaging for air filtration and humidifier products.
In the fiscal first quarter, Helen of Troy recorded a $13.1
million charge related to the issue, the company said.
Write to Matt Grossman at matt.grossman@wsj.com
(END) Dow Jones Newswires
July 08, 2021 07:30 ET (11:30 GMT)
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