Company Quick10K Filing
Helen of Troy
Price138.29 EPS5
Shares25 P/E29
MCap3,491 P/FCF30
Net Debt303 EBIT149
TEV3,794 TEV/EBIT25
TTM 2019-05-31, in MM, except price, ratios
10-Q 2020-08-31 Filed 2020-10-09
10-Q 2020-05-31 Filed 2020-07-10
10-K 2020-02-29 Filed 2020-04-29
10-Q 2019-11-30 Filed 2020-01-09
10-Q 2019-08-31 Filed 2019-10-10
10-Q 2019-05-31 Filed 2019-07-10
10-K 2019-02-28 Filed 2019-04-29
10-Q 2018-11-30 Filed 2019-01-09
10-Q 2018-08-31 Filed 2018-10-10
10-Q 2018-05-31 Filed 2018-07-10
10-K 2018-02-28 Filed 2018-04-30
10-Q 2017-11-30 Filed 2018-01-09
10-Q 2017-08-31 Filed 2017-10-10
10-Q 2017-05-31 Filed 2017-07-10
10-K 2017-02-28 Filed 2017-05-01
10-Q 2016-11-30 Filed 2017-01-09
10-Q 2016-08-31 Filed 2016-10-11
10-Q 2016-05-31 Filed 2016-07-11
10-K 2016-02-29 Filed 2016-04-29
10-Q 2015-11-30 Filed 2016-01-11
10-Q 2015-08-31 Filed 2015-10-13
10-Q 2015-05-31 Filed 2015-07-10
10-K 2015-02-28 Filed 2015-04-29
10-Q 2014-11-30 Filed 2015-01-09
10-Q 2014-08-31 Filed 2014-10-10
10-Q 2014-05-31 Filed 2014-07-10
10-K 2014-02-28 Filed 2014-04-29
10-Q 2013-11-30 Filed 2014-01-09
10-Q 2013-08-31 Filed 2013-10-10
10-K 2013-02-28 Filed 2013-04-29
10-Q 2012-11-30 Filed 2013-01-09
10-Q 2012-08-31 Filed 2012-10-10
10-Q 2012-05-31 Filed 2012-07-10
10-K 2012-02-29 Filed 2012-04-30
10-Q 2011-11-30 Filed 2012-01-06
10-Q 2011-08-31 Filed 2011-10-07
10-Q 2011-05-31 Filed 2011-07-11
10-K 2011-02-28 Filed 2011-05-16
10-Q 2010-11-30 Filed 2011-01-10
10-Q 2010-08-31 Filed 2010-10-06
10-Q 2010-05-31 Filed 2010-07-09
10-K 2010-02-28 Filed 2010-05-13
10-Q 2009-11-30 Filed 2010-01-11
8-K 2020-10-08 Earnings, Exhibits
8-K 2020-10-06 Officers
8-K 2020-08-26 Shareholder Vote
8-K 2020-07-09 Earnings, Exhibits
8-K 2020-05-14
8-K 2020-05-04
8-K 2020-04-28
8-K 2020-03-30
8-K 2020-03-17
8-K 2020-01-28
8-K 2020-01-23
8-K 2020-01-08
8-K 2019-12-19
8-K 2019-10-08
8-K 2019-08-23
8-K 2019-07-09
8-K 2019-06-21
8-K 2019-05-21
8-K 2019-04-26
8-K 2019-01-08
8-K 2018-11-07
8-K 2018-10-09
8-K 2018-08-22
8-K 2018-07-09
8-K 2018-04-26
8-K 2018-03-01
8-K 2018-01-24
8-K 2018-01-08

HELE 10Q Quarterly Report

Part I. Financial Information
Item 1. Financial Statements
Note 1 - Basis of Presentation and Related Information
Note 2 - New Accounting Pronouncements
Note 3 - Revenue Recognition
Note 4 - Leases
Note 5 - Assets Held for Sale
Note 6 - Supplemental Balance Sheet Information
Note 7 - Acquisitions
Note 8 - Goodwill and Intangible Assets
Note 9 - Share - Based Compensation Plans
Note 10 - Repurchase of Helen of Troy Common Stock
Note 11 - Restructuring Plan
Note 12 - Commitments and Contingencies
Note 13 - Long - Term Debt
Note 14 - Fair Value
Note 15 - Financial Instruments and Risk Management
Note 16 - Accumulated Other Comprehensive Income (Loss)
Note 17 - Segment Information
Note 18 - Income Taxes
Note 19 - Earnings per Share
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations
Item 3. Quantitative and Qualitative Disclosures About Market Risk
Item 4. Controls and Procedures
Part II. Other Information
Item 1. Legal Proceedings
Item 1A. Risk Factors
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds
EX-31.1 fy21q2exhibit3111.htm
EX-31.2 fy21q2exhibit312.htm
EX-32 fy21q2exhibit321.htm

Helen of Troy Earnings 2020-08-31

Balance SheetIncome StatementCash Flow
1.91.51.10.80.40.02012201420172020
Assets, Equity
0.50.40.30.10.0-0.12012201420172020
Rev, G Profit, Net Income
0.20.10.0-0.1-0.2-0.32012201420172020
Ops, Inv, Fin

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Table of Contents
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 10-Q
(Mark One)
QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended August 31, 2020
or
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the transition period from ..... to …..
Commission file number: 001-14669
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HELEN OF TROY LIMITED
(Exact name of registrant as specified in its charter)

Bermuda     74-2692550
(State or other jurisdiction of incorporation or organization)    (I.R.S. Employer Identification No.)
                
Clarendon House, 2 Church Street, Hamilton, Bermuda                                    
(Address of principal executive offices)            

1 Helen of Troy Plaza, El Paso, Texas             79912
(Registrant’s United States Mailing Address)            (Zip Code)
(915) 225-8000
(Registrant’s telephone number, including area code)

Securities registered pursuant to Section 12(b) of the Act: 
Title of each class Trading Symbol Name of each exchange on which registered
Common Shares, $0.10 par value per share HELE The NASDAQ Stock Market LLC
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.  Yes No 
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).       Yes No 
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer”, “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act.
Large accelerated filer                         Accelerated filer
Non-accelerated filer Smaller reporting company
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes No
Indicate the number of shares outstanding of each of the issuer’s classes of common stock, as of the latest practicable date.
As of October 2, 2020 there were 25,353,261 shares of common stock of the registrant, $0.10 par value per share, outstanding.



Table of Contents
HELEN OF TROY LIMITED AND SUBSIDIARIES
FORM 10-Q
TABLE OF CONTENTS
  PAGE 
   
 
  
  
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
   
   
   
   
 
   
   
   
   
   
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Table of Contents
PART I.   FINANCIAL INFORMATION

ITEM 1.   FINANCIAL STATEMENTS
 
HELEN OF TROY LIMITED AND SUBSIDIARIES
Condensed Consolidated Balance Sheets (Unaudited)
(in thousands, except shares and par value)August 31, 2020February 29, 2020
Assets  
Assets, current:  
Cash and cash equivalents$148,399 $24,467 
Receivables - principally trade, less allowances of $2,493 and $1,461
402,027 348,023 
Inventory350,180 256,311 
Prepaid expenses and other current assets6,925 9,229 
Income taxes receivable3,356  
Assets held for sale41,031 44,806 
Total assets, current951,918 682,836 
Property and equipment, net of accumulated depreciation of $141,552 and $132,340
137,024 132,107 
Goodwill739,901 739,901 
Other intangible assets, net of accumulated amortization of $157,925 and $148,891
292,790 300,952 
Operating lease assets32,143 32,645 
Deferred tax assets, net17,934 14,635 
Other assets, net of accumulated amortization of $2,167 and $2,167
2,483 807 
Total assets$2,174,193 $1,903,883 
Liabilities and Stockholders' Equity  
Liabilities, current:  
Accounts payable, principally trade$280,487 $152,674 
Accrued expenses and other current liabilities217,964 183,157 
Income taxes payable 1,181 
Long-term debt, current maturities1,884 1,884 
Total liabilities, current500,335 338,896 
Long-term debt, excluding current maturities298,247 337,421 
Lease liabilities, non-current40,039 40,861 
Deferred tax liabilities, net5,092 4,224 
Other liabilities, non-current21,951 20,758 
Total liabilities865,664 742,160 
Commitments and contingencies
Stockholders' equity:  
Cumulative preferred stock, non-voting, $1.00 par. Authorized 2,000,000 shares; none issued
  
Common stock, $0.10 par. Authorized 50,000,000 shares; 25,328,306 and 25,193,766 shares issued and outstanding
2,533 2,519 
Additional paid in capital274,643 268,043 
Accumulated other comprehensive loss
(14,320)(7,005)
Retained earnings1,045,673 898,166 
Total stockholders' equity1,308,529 1,161,723 
Total liabilities and stockholders' equity$2,174,193 $1,903,883 
 
See accompanying notes to condensed consolidated financial statements.
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Table of Contents
HELEN OF TROY LIMITED AND SUBSIDIARIES
Condensed Consolidated Statements of Income (Unaudited) 
 Three Months Ended August 31,Six Months Ended August 31,
(in thousands, except per share data)2020201920202019
Sales revenue, net$530,852 $413,995 $951,687 $790,330 
Cost of goods sold300,516 235,844 542,050 458,452 
Gross profit230,336 178,151 409,637 331,878 
Selling, general and administrative expense ("SG&A")131,027 123,201 253,016 229,102 
Restructuring charges34 430 367 1,049 
Operating income99,275 54,520 156,254 101,727 
Non-operating income, net111 89 347 221 
Interest expense(2,796)(3,216)(6,642)(6,524)
Income before income tax96,590 51,393 149,959 95,424 
Income tax expense9,257 5,298 2,340 8,635 
Net income87,333 46,095 147,619 86,789 
Earnings per share ("EPS"):  
Basic$3.45 $1.84 $5.84 $3.46 
Diluted 3.43 1.83 5.81 3.44 
Weighted average shares used in computing EPS:  
Basic25,325 25,116 25,289 25,068 
Diluted25,458 25,245 25,428 25,245 

See accompanying notes to condensed consolidated financial statements.
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Table of Contents
HELEN OF TROY LIMITED AND SUBSIDIARIES
Condensed Consolidated Statements of Comprehensive Income (Unaudited) 
 Three Months Ended August 31,Six Months Ended August 31,
(in thousands)2020201920202019
Net income$87,333 $46,095 $147,619 $86,789 
Other comprehensive income (loss), net of tax:
Cash flow hedge activity - interest rate swaps731 (3,168)(1,876)(7,161)
Cash flow hedge activity - foreign currency contracts(6,134)424 (5,439)1,215 
Total other comprehensive loss, net of tax(5,403)(2,744)(7,315)(5,946)
Comprehensive income$81,930 $43,351 $140,304 $80,843 

See accompanying notes to condensed consolidated financial statements.
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Table of Contents
HELEN OF TROY LIMITED AND SUBSIDIARIES
Condensed Consolidated Statements of Stockholders’ Equity
Common StockAdditional Paid in CapitalAccumulated Other Comprehensive Income (Loss)Retained EarningsTotal Shareholders' Equity
(in thousands, including shares) SharesPar
Value
Balances at May 31, 202025,321 $2,532 $269,797 $(8,917)$958,340 $1,221,752 
Net income— — — — 87,333 87,333 
Other comprehensive loss, net of tax— — — (5,403)— (5,403)
Exercise of stock options4 1 370 — — 371 
Net issuance and settlement of restricted stock4 — — — —  
Issuance of common stock related to stock purchase plan— — — — —  
Common stock repurchased and retired(1)— (148)— — (148)
Share-based compensation— — 4,624 — — 4,624 
Balances at August 31, 202025,328 $2,533 $274,643 $(14,320)$1,045,673 $1,308,529 
Balances at February 29, 202025,194 $2,519 $268,043 $(7,005)$898,166 $1,161,723 
Net income— — — — 147,619 147,619 
Other comprehensive loss, net of tax— — — (7,315)— (7,315)
Exercise of stock options12 2 845 — — 847 
Net issuance and settlement of restricted stock169 17 (17)— —  
Issuance of common stock related to stock purchase plan15 1 1,900 — — 1,901 
Common stock repurchased and retired(62)(6)(10,043)— (112)(10,161)
Share-based compensation— — 13,915 — — 13,915 
Balances at August 31, 202025,328 $2,533 $274,643 $(14,320)$1,045,673 $1,308,529 
Balances at May 31, 201925,101 $2,510 $249,079 $(2,011)$786,601 $1,036,179 
Net income— — — — 46,095 46,095 
Other comprehensive loss, net of tax— — — (2,744)— (2,744)
Exercise of stock options27 2 1,805 — — 1,807 
Net issuance and settlement of restricted stock5 1 (1)— —  
Issuance of common stock related to stock purchase plan— — — — —  
Common stock repurchased and retired(3)— (269)— (74)(343)
Share-based compensation— — 6,381 — — 6,381 
Balances at August 31, 201925,130 $2,513 $256,995 $(4,755)$832,622 $1,087,375 
Balances at February 28, 201924,946 $2,495 $246,585 $1,191 $746,366 $996,637 
Net income— — — — 86,789 86,789 
Other comprehensive loss, net of tax— — — (5,946)— (5,946)
Exercise of stock options62 6 3,627 — — 3,633 
Net issuance and settlement of restricted stock178 18 (18)— —  
Issuance of common stock related to stock purchase plan15 1 1,407 — — 1,408 
Common stock repurchased and retired(71)(7)(8,591)— (533)(9,131)
Share-based compensation— — 13,985 — — 13,985 
Balances at August 31, 201925,130 $2,513 $256,995 $(4,755)$832,622 $1,087,375 

See accompanying notes to condensed consolidated financial statements.

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HELEN OF TROY LIMITED AND SUBSIDIARIES
Condensed Consolidated Statements of Cash Flows (Unaudited)
 Six Months Ended August 31,
(in thousands)20202019
Cash provided by operating activities:  
Net income$147,619 $86,789 
Adjustments to reconcile net income to net cash provided by operating activities:  
Depreciation and amortization18,476 16,116 
Amortization of financing costs522 509 
Non-cash operating lease expense177 1,022 
Provision for doubtful receivables1,900 313 
Non-cash share-based compensation13,915 13,985 
Loss (gain) on the sale or disposal of property and equipment6 (13)
Deferred income taxes and tax credits(535)4 
Changes in operating capital, net of effects of acquisition of businesses:  
Receivables(55,904)(30,410)
Inventories(90,094)(68,576)
Prepaid expenses and other current assets745 (2,333)
Other assets and liabilities, net(2,147)22,284 
Accounts payable127,813 23,124 
Accrued expenses and other current liabilities26,288 (20,418)
Accrued income taxes(2,503)(4,185)
Net cash provided by operating activities
186,278 38,211 
Cash used by investing activities:  
Capital and intangible asset expenditures(15,237)(8,861)
Net cash used by investing activities
(15,237)(8,861)
Cash used by financing activities:  
Proceeds from line of credit765,200 283,400 
Repayment of line of credit(799,200)(301,600)
Repayment of long-term debt(1,900)(1,900)
Payment of financing costs(3,796) 
Proceeds from share issuances under share-based compensation plans2,748 5,041 
Payments for repurchases of common stock(10,161)(9,131)
Net cash used by financing activities
(47,109)(24,190)
Net increase in cash and cash equivalents
123,932 5,160 
Cash and cash equivalents, beginning balance24,467 11,871 
Cash and cash equivalents, ending balance$148,399 $17,031 
Supplemental non-cash items not included above resulting from the adoption of ASC 842
Initial recognition of operating lease asset $ $(37,082)
Initial recognition of lease liabilities — 47,223 
Accrued expenses and other current liabilities  (2,873)
Other assets and liabilities, net  (7,311)
Prepaid expenses and other current assets  43 
 See accompanying notes to condensed consolidated financial statements.
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HELEN OF TROY LIMITED AND SUBSIDIARIES
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)
August 31, 2020