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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 announce its Second Quarter Fiscal 2023 results on May 8, 2023, before the market opens. A conference call to discuss these results will be available via webcast at 10 a.m. ET, hosted by CEO Mark LaVigne and CFO John Drabik. The event can be accessed through the company's investor relations page. Energizer is a leading global manufacturer of primary batteries, portable lights, and automotive care products, with a strong portfolio of recognized brands including Energizer, Armor All, and Rayovac. For more details, visit the company's website.
Energizer Holdings reported first fiscal quarter results for the period ending December 31, 2022, with net sales of $765.1 million, down from $846.3 million in the prior year, reflecting a 9.6% decline.
Despite this, operating cash flow was strong at $161.0 million, enabling debt paydown exceeding $100 million within four months. Gross margin improved to 39.0% thanks to pricing initiatives and Project Momentum savings.
For fiscal 2023, the company maintains a full-year outlook of low single-digit organic revenue growth and Adjusted EBITDA between $585 million and $615 million.
Energizer Holdings, Inc. (NYSE: ENR) announced a quarterly dividend of $0.30 per share, payable on March 16, 2023, to shareholders on record as of February 21, 2023. This decision highlights the company's commitment to returning value to its shareholders amidst its operations in manufacturing batteries and consumer products. Energizer operates a portfolio of well-recognized brands, including Energizer®, Armor All®, and Eveready®. The company aims to deliver superior customer value.
Energizer Holdings (NYSE: ENR) will release its First Quarter Fiscal 2023 results on February 6, before the market opens. The company will host a conference call at 10 a.m. ET to discuss these results, led by CEO Mark LaVigne and CFO John Drabik. Investors and interested parties can access the live webcast through the company's website under the Investors section. A replay will also be available on the site afterward.
Energizer Holdings (ENR) reported fiscal 2022 financial results, achieving net sales of $790.4 million for Q4 and $3,050.1 million for the fiscal year, reflecting a year-over-year increase of 3.2% and 0.9%, respectively. Adjusted EPS for Q4 stood at $0.82, with an adjusted EBITDA of $146 million. The company anticipates low single-digit organic revenue growth for fiscal 2023, with adjusted EBITDA projected between $585 million to $615 million. To address margin pressures, Energizer launched Project Momentum, aimed at achieving annualized savings of $80 to $100 million over the next two years.
Energizer Holdings, Inc. (NYSE: ENR) declared a quarterly dividend of $0.30 per share, set for payment on December 16, 2022. Shareholders of record as of November 28, 2022 will be eligible to receive this dividend. Based in St. Louis, Missouri, Energizer is a leading manufacturer of batteries and related products. The dividend reflects the company's commitment to returning value to its shareholders.
Energizer Holdings Inc. (NYSE: ENR) will report its Fourth Quarter and Fiscal 2022 results on November 15, before market opening. The results will be discussed in an investor conference call at 10 a.m. ET, led by CEO Mark LaVigne and CFO John Drabik. Interested parties can access the live webcast via Energizer's website. For those unable to attend, a replay will also be available afterward. Energizer is a leading global manufacturer of batteries and portable lighting products.
Energizer Holdings reported third quarter net sales of $728 million, reflecting a 3.8% increase from the previous year, driven by pricing strategies. Adjusted earnings per share were $0.77, marking a 4% increase year-over-year. Adjusted EBITDA reached $145.5 million. Gross margin improved to 40.4% despite rising operational costs. However, the company anticipates a $20 million impact in the second half due to foreign exchange and exiting the Russian market. The full-year adjusted earnings guidance has been revised to reflect a potential range of $3.00 to $3.30 per share.
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