U.S. stocks advanced on Tuesday morning, while the 10-year note yield is 3.25%. The Dow Jones Industrial Average rose 0.06% to 26,505, the S&P 500 index jumped 0.31% to 2,893 and the Nasdaq Composite Index rose 0.76% to 7,793.
Shares of Helen of Troy Ltd. (NASDAQ:HELE) fell almost 1% on Tuesday morning after the company posted second-quarter 2019 earnings of $1.98 per share on $393.55 million in revenue, reflecting 14.1% year-over-year growth. The company beat earnings estimates by 39 cents and revenue expectations by $44.36 million.
The consolidated gross profit margin declined to 39.4%, compared to 41.6%, due to less favorable product and channel mix and a higher mix of shipments made on a direct import basis.
Consolidated operating income was $50.7 million, or 12.9% of net sales, compared to $39.7 million, or 11.5% of net sales. Adjusted EBITDA rose 15.9% to $63.6 million.
For fiscal 2019, the company now expects consolidated net sales revenue to be between $1.535 billion and $1.560 billion. It also revised its earnings per share outlook, projecting GAAP earnings in the rango of $6.31 to $6.46 per share and non-GAAP adjusted diluted earnings in the range of $7.65 to $7.90 per share.
The main European stock markets traded higher. The U.K.’s FTSE 100 gained 0.06%, France’s CAC 40 jumped 0.35%, Germany’s Dax advanced 0.37% and Spain’s IBEX 35 rose 0.77%.
In Asia, Japan’s Nikkei 225 fell 1.32%, India’s BSE Sensex lost 0.51%, Hong Kong’s Hang Seng retreated 0.11% and China’s Shanghai Composite gained 0.17%.
Disclosure: The author holds no positions in any stocks mentioned.
About the author:
Omar Venerio is a capital markets, derivatives, corporate finance and financial management professor. He is passionate about the stock market and providing independent fundamental research and hedge fund and insider trading-focused