Category: 3. Business

Transaction streamlines Edgewell’s portfolio and allows the personal care brand to focus on areas of competitive leadership

SHELTON, Conn., Nov. 12, 2025 /PRNewswire/ — Edgewell Personal Care Company (NYSE: EPC) today announced that it has entered into a definitive agreement to sell its feminine care business to Essity, a leading global health and hygiene company based in Sweden, for $340 million.

The transaction is expected to close in the first quarter of calendar 2026, subject to customary closing conditions, including the receipt of required regulatory approvals. Edgewell’s feminine care business includes Playtex®, Stayfree®, Carefree® and o.b.®. Edgewell intends to use the net proceeds from the sale, after taxes and transaction costs, primarily to strengthen its balance sheet while continuing to invest in the long-term growth of its core businesses.

“This transaction marks a pivotal step in Edgewell’s transformation. By selling our Feminine Care business to Essity, we are sharpening our focus on our core categories, strengthening our financial position, and positioning Edgewell for sustainable, long-term growth,” said Edgewell President and CEO Rod Little. “This is a win for our shareholders who will benefit from a more agile and focused company; for our customers, who will continue to receive innovative products and dedicated service; and for our employees, who will have new opportunities for growth and success with Essity, a global leader in health and hygiene.”

“I’m excited to further grow these well-known brands by welcoming them into our bold and purpose-driven feminine care business. With this acquisition we are building a stronger personal care business in North America, in line with our strategy to focus on high yielding categories in attractive geographies,” says Ulrika Kolsrud, President and CEO of Essity.

Edgewell will work closely with Essity to ensure a smooth transition for employees, customers, and consumers of the Feminine Care business. Edgewell has agreed to provide Essity with certain services to support the transition of the business following the completion of the transaction.

Beginning in the first quarter of fiscal 2026, Edgewell will classify the Feminine Care business as discontinued operations. Following the transaction, Edgewell expects to incur certain stranded overhead costs, which for fiscal 2026, will be substantially offset by income generated from the provision of transition support services to Essity. For context, the Company expects the impact of Feminine Care business sale on an annualized basis to be approximately $0.40 to $0.50 cents in adjusted EPS and $35 to $45 million in adjusted EBITDA, net of such income.

Advisors
Perella Weinberg Partners LP is serving as financial advisor to Edgewell. Latham & Watkins LLP is serving as legal advisor to Edgewell.

Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statements, including without limitation statements regarding the anticipated timeline for closing of the transaction, our anticipated uses of net proceeds from the transaction, anticipated benefits of the transaction to us and our stakeholders, entry into and the obligations under the transition services agreement following the transaction, and our strategy, future financial results, and competitive position. These statements are neither promises nor guarantees, but involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including, but not limited to, the risk that the parties may be unable to close the transaction on anticipated timelines or at all; the failure to obtain regulatory approvals or satisfy other conditions to closing required in connection with the transaction; costs associated with the transaction and the potential that it may not have the anticipated impact on our business; the risk that disruptions from the transaction will harm business plans and operations; our ability to compete in products and prices, as well as costs, in an intensely competitive industry; the loss of any of our principal customers or changes in the policies of our principal customers; our inability to design and execute a successful omnichannel strategy; our ability to attract, retain and develop key personnel; fluctuations in the price and supply of raw materials and costs of labor, warehousing and transportation; as well as the other factors described in our Annual Report on Form 10-K for the year ended September 30, 2024, as will be updated in our Annual Report on Form 10-K for the year ended September 30, 2025 and as may be further updated in the Company’s other filings with the Securities and Exchange Commission. These factors could cause actual results to differ materially from those indicated by the forward-looking statements made in this press release. Any such forward-looking statements represent management’s estimates as of the date of this press release. While we may elect to update such forward-looking statements at some point in the future, we disclaim any obligation to do so, even if subsequent events cause our views to change.

About Edgewell Personal Care
Edgewell is a leading pure-play consumer products company with an attractive, diversified portfolio of established brand names such as Schick®, Wilkinson Sword® and Billie® men’s and women’s shaving systems and disposable razors; Edge and Skintimate® shave preparations; Playtex®, Stayfree®, Carefree® and o.b.® feminine care products; Banana Boat®, Hawaiian Tropic®, Bulldog®, Jack Black®, and CREMO® sun and skin care products; and Wet Ones® products. The Company has a broad global footprint and operates in more than 50 markets, including the U.S., Canada, Mexico, Germany, Japan, the U.K. and Australia, with approximately 6,700 employees worldwide.

About Essity
Essity is a global, leading hygiene and health company with products, solutions and services used by a billion people around the world every day. Essity’s purpose is to break barriers to well-being for the benefit of consumers, patients, caregivers, customers and society. Sales are conducted in approximately 150 countries under the leading global brands TENA and Tork, and other strong brands such as Actimove, Cutimed, JOBST, Knix, Leukoplast, Libero, Libresse, Lotus, Modibodi, Nosotras, Saba, Tempo, TOM Organic and Zewa. In 2024, Essity had net sales of approximately SEK 146bn (EUR 13bn) and employed 36,000 people. The company’s headquarters is located in Stockholm, Sweden and Essity is listed on Nasdaq Stockholm.

SOURCE Edgewell Personal Care Company

• GACA to align with FAA certification standards to develop streamlined regulatory pathways for air taxi service in the Kingdom

• Agreement advances Saudi Kingdom’s Vision 2030 goals to modernize economy and infrastructure

• Builds on Joby’s agreement with Abdul Latif Jameel to explore delivery of up to 200 of its aircraft in Saudi Arabia

SANTA CRUZ, Calif. & RIYADH, Saudi Arabia–(BUSINESS WIRE)–
Joby Aviation, Inc. (NYSE:JOBY), a company developing electric air taxis for commercial passenger service, and the General Authority of Civil Aviation (GACA) of the Kingdom of Saudi Arabia today announced plans for the rapid deployment of Joby’s electric air taxi in the Kingdom. A new memorandum of understanding between GACA and Joby will use Federal Aviation Administration (FAA) certification standards as a foundation to create a streamlined approval process for Joby’s aircraft in Saudi Arabia, positioning the Kingdom at the forefront of advanced air mobility. Saudi Arabia joins the U.S., the U.K., Japan, South Korea and the UAE as another key launch market for Joby’s air taxi service.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20251112412885/en/

“We’ve been collaborating with the FAA since 2016 on the certification and the commercial operations of our aircraft, and we’re now putting those standards to work on a global scale,” said JoeBen Bevirt, founder and CEO of Joby. “We look forward to partnering with GACA on this bold endeavor: to bring quiet, fast and convenient air mobility to Saudi Arabia.”

“This partnership represents a critical step in advancing the Kingdom’s AAM ambitions. Our focus is not only on bringing future technologies to Saudi Arabia, but on building the knowledge and know-how required to sustain them. By localizing key elements of manufacturing and developing highly qualified national talent, we are creating an ecosystem that enables innovation to thrive. Supported by a robust and forward-looking regulatory framework, this initiative reinforces the Kingdom’s leadership in shaping the future of aviation, in alignment with the AAM roadmap derived from the Aviation Programme in the National Transport and Logistics Strategy,” said Captain Sulaiman bin Saleh Al-Muhaimedi, Executive Vice President of Aviation Safety and Environmental Sustainability at (GACA).

To support the development of the Kingdom’s air taxi regulatory framework, Joby and GACA will focus on three core initiatives based on Joby’s FAA certification efforts:

• Provide technical expertise across type design, production, and operational domains to inform the development of a comprehensive regulatory framework that ensures the safe, efficient, and scalable deployment of advanced air mobility aircraft within the Kingdom.

• Collaboration on airworthiness standards, ensuring an efficient validation process of the FAA Type Certification.

• Development and harmonization of key regulations to enable the initial phase of operations, including pilot licensing, maintenance, and airspace integration frameworks.

Joby is setting the pace for the industry in progressing toward regulatory approval of its aircraft, positioning it as an effective partner to other countries for air taxi development. In the U.S., Joby is nearing the final phase of FAA Type Certification, which involves FAA test pilots directly assessing the aircraft’s performance and safety. Globally, Joby was deeply engaged in the development of the NAA Network’s five-nation roadmap, which aims to create global certification standards for advanced air mobility.

Joby’s broader commercialization strategy in Saudi Arabia includes key partnerships with Abdul Latif Jameel, which is exploring delivery of up to 200 Joby aircraft valued at approximately $1 billion, and Aloula Aviation (formerly Mukamalah Aviation), the aviation subsidiary of Saudi Aramco. The announcement also builds on the renewed economic partnership between the U.S. administration and the Saudi government following U.S. President Trump’s visit to Saudi Arabia in May of this year.

About Joby

Joby Aviation, Inc. (NYSE:JOBY) is a California-based transportation company developing an all-electric, vertical take-off and landing air taxi. Joby intends to both operate its fast, quiet, and convenient air taxi service in cities around the world and sell its aircraft to other operators and partners. To learn more, visit www.jobyaviation.com.

About GACA

The General Authority for Civil Aviation (GACA) is the national civil aviation regulator for Saudi Arabia. GACA is responsible for delivering world-leading regulatory services that enhance competition, safety, security and sustainability in civil aviation globally. GACA enables Saudi Arabia to lead the world through aviation, providing world-class regulations, ensuring compliance and performance, ensuring competition and growth and protecting passengers.

GACA coordinates the implementation of the Saudi Aviation Program. The Program is transforming the entire Saudi aviation ecosystem to become the number one aviation sector in the Middle East, enabled by Vision 2030 and in line with the Kingdom’s National Transport and Logistics Strategy. The Program is unlocking US$100 billion in private and government investment across the Kingdom’s airports, airlines, and aviation support services. The Program will extend Saudi Arabia’s connectivity to 250 destinations, triple annual passenger traffic, establish two global long-haul connecting hubs, and increase air cargo capacity.

Forward-Looking Statements ​​

This release contains “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, including but not limited to, statements regarding the development and performance of our aircraft, the growth of our manufacturing capabilities, our regulatory outlook, progress and timing; our business plan, objectives, goals and market opportunity; plans to certify and operate our aircraft in Saudi Arabia, and the potential sale of up to 200 aircraft valued at approximately $1 billion under the partnership with Abdul Latif Jameel; plans for, and potential benefits of, our strategic partnerships; and our current expectations relating to our business, financial condition, results of operations, prospects, capital needs and growth of our operations, including the expected benefits of our vertically-integrated business model. You can identify forward-looking statements by the fact that they do not relate strictly to historical or current facts. These statements may include words such as “anticipate,” “estimate,” “expect,” “project,” “plan,” “intend,” “believe,” “may,” “will,” “should,” “can have,” “likely” and other words and terms of similar meaning in connection with any discussion of the timing or nature of future operating or financial performance or other events. All forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially, including: our ability to launch our air taxi service and the growth of the urban air mobility market generally; our ability to produce aircraft that meet our performance expectations in the volumes and on the timelines that we project; complexities related to obtaining certification and operating in foreign markets; the competitive environment in which we operate; our future capital needs; our ability to adequately protect and enforce our intellectual property rights; our ability to effectively respond to evolving regulations and standards relating to our aircraft; our reliance on third-party suppliers and service partners; uncertainties related to our estimates of the size of the market for our service and future revenue opportunities; and other important factors discussed in the section titled “Risk Factors” in our Annual Report on Form 10-K, filed with the Securities and Exchange Commission (the “SEC”) on February 27, 2025, our Quarterly Reports on Form 10-Q filed with the SEC on May 8, 2025 and August 7, 2025, and in future filings and other reports we file with or furnish to the SEC. Any such forward-looking statements represent management’s estimates and beliefs as of the date of this release. While we may elect to update such forward-looking statements at some point in the future, we disclaim any obligation to do so, even if subsequent events cause our views to change.

View source version on businesswire.com: https://www.businesswire.com/news/home/20251112412885/en/

Media Contact:

Charles Stewart

press@jobyaviation.com

Investor Contact:

investors@jobyaviation.com

Source: Joby Aviation, Inc.

Released November 12, 2025

HOUSTON, Nov 12 (Reuters) – Oil prices fell more than $2 a barrel on Wednesday, weighed down by an OPEC report saying global oil supply will match demand in 2026, marking a further shift from its earlier projections of a supply deficit.

Brent crude futures settled at $62.71 a barrel, down $2.45, or 3.76% after gaining 1.7% on Tuesday. U.S. West Texas Intermediate crude finished at $58.49 a barrel, down $2.55, or 4.18%, after climbing 1.5% in the previous session.

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“The prospect that the market is in balance is definitely what drove down prices,” said Phil Flynn, senior analyst with Price Futures Group. “The market wants to believe it’s balanced. I think the market took OPEC more seriously than IEA.”

John Kilduff, partner at Again Capital, said the OPEC outlook comes as some crude sellers cannot find buyers.

“There are cargoes going begging,” Kilduff said. “The very front of the market is forming a new price curve. There’s just a general sense of weakness in the U.S. economy.”

US GOVERNMENT REOPENING

The reopening of the U.S. government could boost consumer confidence and economic activity, spurring demand for crude oil, IG analyst Tony Sycamore wrote in a note.

The U.S. Energy Information Administration will release its outlook on Thursday.

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Rocket Lab has pushed the first launch of its medium-lift Neutron rocket to 2026, founder and CEO Peter Beck said during the company’s 2025 Q3 earnings call Monday (Nov. 10).

The vehicle is now expected to arrive at Launch Complex 3 at Virginia’s Mid-Atlantic Regional Spaceport, on Wallops Island, in the first quarter of next year, with its debut flight to follow after qualification testing is complete.

The boss of one of the UK’s largest online retailers has predicted automation and artificial intelligence (AI) will slash his workforce by two-thirds within the next three years.

Nick Glynne, the boss of Buy It Direct which owns Appliances Direct, told BBC 5 Live’s Wake Up To Money that future prospects for hiring people in the UK was “very bleak” for his business.

The company employs more than 800 staff and more than 500 jobs were estimated to go. This was not a “fixed plan”, though the process was being sped up by extra costs placed on the firm by the government, Mr Glynne said.

HM Treasury said higher taxes on employers had allowed it to “deliver on the priorities of the British people”.

Buy It Direct, which is based in Huddersfield, operates a number of online retail brands including Furniture 123.

It is a global company, employing another 150 staff overseas, with a customer service operation in the Philippines.

Mr Glynne said increases in the national living wage and national insurance contributions, which came into effect in April, were among the government’s “tax decisions [which] have accelerated the direction of travel”.

“So much so that our forecast is to have two-thirds less people, with the same revenue, same activity; two-thirds less people in an office environment within three years, and two-thirds less in our warehouse environment through investment in automation.

“A mixture of AI on the office side, and technology involving robots and automation and mechanisation in the warehouse, means that the future for employing UK people is very bleak for someone like us.”

A HM Treasury spokesperson defended the government as “pro-business”.

It pointed to a corporation tax capped at 25%, and said the government was reforming business rates and had secured trade deals with the US, EU and India.

“The tax decisions we took at the Budget last year mean that we have been able to deliver on the priorities of the British people, from investing in the NHS to cutting waiting lists and putting more money in their pockets with a wage boost for millions,” the spokesperson said.

The retail chief executive’s comments come at a time of increasing concern about jobs – especially entry level positions – being lost to AI.

Graduates in graphics design and computer science are among those who have said they find themselves competing against technology for roles.

At the end of last month, Amazon announced it was axing 14,000 jobs, saying it needed to be “organised more leanly” to seize the opportunity provided by AI.

Mr Glynne said higher taxes on the business also meant the company had changed how it outsourced roles, recruiting more senior positions outside of the UK.

“It was an experiment which we wouldn’t otherwise have done, and mostly it’s been successful,” he said.

“So we’ve now got accountants, managers, traders, buyers, senior IT managers all working abroad.

“You look at many of the roles overseas, just as qualified, more motivated in some ways than UK workers because there’s less protection for people often in those countries [from] where we buy in cheaper labour.”