Helen of Troy reported QQ3 2026 net sales of $512.8 million, down 3.4% year-over-year but up ~18.8% sequentially from the prior quarter, reflecting a challenging external environment and tariff-related revenue disruption that moderated in Q3. Consolidated gross margin declined by 200 basis points to 46.9%, driven primarily by higher tariff costs and non-cash inventory obsolescence, partially offset by margin accretion from Olive & June (the acquired brand contributed roughly $37.7–$38.0 million of sales during the quarter). The company posted a GAAP net loss of $84.1 million and GAAP EPS of $-3.65 for QQ3, while adjusted EPS was $1.71, highlighting the difference between GAAP results influenced by tariff and operating dynamics and the company’s ongoing focus on operating levers and brand-driven growth. Operating margin fell to 12.9% on an adjusted basis, with a full-year top-line range tightened to $1.758–$1.773 billion and adjusted EPS guidance of $3.25–$3.75, reflecting a shift from cost-cutting to revenue-led growth. Management emphasized four priorities (brand refresh, consumer-centric structure, portfolio optimization for predictable growth, and balance-sheet/operational efficiency) and signaled that FY2027 will be a meaningful step toward a growth trajectory, not a straight-line recovery. The discussion underscored tariff mitigation (supplier diversification, SKU prioritization, pricing actions) as a key driver of the near-term P&L and highlighted Olive & June’s contribution as a proof point of the company’s strategic pivot toward higher-return brands. While management acknowledged ongoing margin pressure in Q4 due to pricing realization lags and promotional activity, they reiterated a commitment to invest in brands and innovation to regain revenue leadership and improved cash flow going into FY2027.