By Exec Edge Editorial Staff
Waldencast plc, (Nasdaq: WALD), a global multi-brand beauty and wellness platform, said net sales climbed in the third quarter after its combination with Obagi Skincare in July.
Net sales rose 10.3% to $78.9 million in the third quarter ended Sept. 30, 2022, from a year earlier, the company said in a statement.
Waldencast reaffirmed guidance for fiscal 2022 of net sales of $256.3 million, gross profit of $189.8 million and adjusted EBITDA of $49.6 million.
“We are excited about our opportunities as we enter the final quarter of the year, and while cognizant of the broader macro-economic environment, the beauty category remains strong,” said Founder and CEO Michel Brousset. “In addition, our business and our brands continue to deliver strong growth and profitability, which is reflected in our reaffirmation of guidance.”