Waldencast (WALD) Q3 Earnings call transcript Nov 21, 2024
1min read In its recent earnings call, Waldencast plc showcased a robust performance in the third quarter of 2024, with a 34.6% increase in comparable net revenue. The company's strong showing can be attributed to the success of its Obagi Medical and Milk Makeup brands, which saw growth of 45.5% and 23.5%, respectively.
Strategic Growth Initiatives for Milk Makeup and Obagi Medical
CEO Michel Brousset highlighted the company's strategic growth initiatives, including the expansion of Milk Makeup's global distribution and the continued success of Obagi Medical, which remains the 1 U.S. physician-recommended medical-grade skin care brand. The company's focus on innovation and community engagement has been a key driver of growth, particularly in the prestige clean makeup and professional science-led skin care categories.
Financial Performance and Outlook
CFO Manuel Manfredi provided a detailed review of the company's financial performance, with adjusted EBITDA rising 134% to 16.3% of net revenue. The company is optimistic about its future prospects, with a focus on continued growth and profitability through operational efficiencies and strategic investments in marketing and international capabilities. Waldencast is poised to carry this momentum into the final quarter of the year, with a reaffirmed guidance for comparable net revenue growth to accelerate and adjusted EBITDA margin to land in the mid-teens range.
A Look Ahead
As Waldencast continues to build a global best-in-class beauty and wellness platform, it is well-positioned to attract leading brands and capitalize on market trends, particularly in the skin care and makeup categories. The company's asset-light business model and operational scale provide a strong foundation for future growth, while its proven track record of identifying and managing global beauty brands at scale positions it for continued success.
The company's focus on innovation, community engagement, and strategic acquisitions is expected to drive growth and profitability in the years ahead. With a clear vision for the future and a solid foundation in place, Waldencast plc is well on its way to realizing its potential as a global leader in the beauty industry.
