Welcome to our dedicated page for Energizer Holdings news (Ticker: ENR), a resource for investors and traders seeking the latest updates and insights on Energizer Holdings stock.
Energizer Holdings, Inc. (NYSE: ENR) is a global leader in the manufacturing and distribution of household batteries, specialty batteries, and lighting products. The company's product portfolio includes a variety of battery technologies such as lithium, alkaline, carbon-zinc, nickel-metal hydride, zinc-air, and silver oxide. These products are marketed under well-known brands like Energizer, Rayovac, Varta, and Eveready, catering to both performance and premium price segments.
Beyond batteries, Energizer also provides an extensive range of auto care products, which include offerings in appearance, fragrance, performance, and air conditioning recharge categories. The company operates through two primary geographic segments: the Americas and International, with the majority of its revenue generated from the Americas.
In recent developments, Energizer has been focusing on improving its financial health and operational efficiency through aggressive cost-saving measures under Project Momentum. This initiative aims to deliver significant savings by optimizing cost structures and simplifying operations. As part of this project, the company expects to achieve savings between $130 to $150 million by the end of 2025.
Despite facing top-line challenges in recent quarters, Energizer remains committed to maintaining robust margins and cash flow, which has enabled the company to reduce debt and reinvest in its business. For fiscal year 2023, Energizer delivered adjusted earnings and EBITDA within its original guidance range, achieving notable progress in gross margin restoration and free cash flow generation.
Looking forward, Energizer anticipates continued macroeconomic uncertainties in 2024. However, the company is focused on executing its strategic priorities, which include gross margin improvement, debt reduction, and strategic investments to fuel long-term growth. For fiscal 2024, the company projects adjusted EBITDA in the range of $600 million to $620 million and adjusted earnings per share between $3.10 to $3.30.
The company's latest financial results for the first fiscal quarter of 2024 highlight an improvement in adjusted gross profit margin and strong free cash flow, further supporting debt reduction efforts. These results reflect the benefits of Project Momentum, despite fluctuations in net sales and ongoing restructuring costs.
Energizer's management continues to engage with investors and stakeholders through regular conference calls and webcasts, providing updates on financial performance and strategic initiatives. The company remains committed to delivering value to its shareholders while navigating the complexities of a dynamic global market.
Energizer Holdings (NYSE: ENR) will release its Third Quarter Fiscal Year 2024 results on August 6, 2024, before the market opens. The report will be discussed during a webcast conference call at 10 a.m. ET, hosted by CEO Mark LaVigne and CFO John Drabik.
The webcast can be accessed live via Energizer's website, with a replay available later for those unable to attend. Energizer, headquartered in St. Louis, is a leading global manufacturer and distributor of batteries, portable lights, and auto care products, with brands like Energizer, Armor All, and Rayovac among others.
For more information, visit the company's website or access the original press release.
Energizer Holdings, Inc. reported a 3.0% decrease in net sales and a 2.7% decline in organic net sales for the fiscal 2024 second quarter. The Auto Care segment saw a 2.3% increase in net sales. Gross margin improved by 120 basis points, with adjusted gross margin up by 260 basis points. Earnings per share was $0.45 and adjusted earnings per share was $0.72, marking a 13% increase over the prior year. The company reaffirmed its fiscal year outlook for net sales, adjusted earnings per share, and adjusted EBITDA.
Energizer Holdings, Inc. (ENR) declared a quarterly dividend of $0.30 per share for its common stock. The dividend will be paid on June 12, 2024, to shareholders of record as of May 22, 2024.
FAQ
What is the current stock price of Energizer Holdings (ENR)?
What is the market cap of Energizer Holdings (ENR)?
What products does Energizer Holdings, Inc. offer?
What are the main segments of Energizer's operations?
What is Project Momentum?
How did Energizer perform in fiscal year 2023?
What is Energizer's financial outlook for fiscal 2024?
What were Energizer's first fiscal quarter results for 2024?
What are the core technologies used in Energizer's batteries?
How does Energizer engage with its investors?
What strategic priorities is Energizer focusing on?
What financial measures does Energizer use to report its performance?
