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, Inc. (NYSE: ENR) has declared quarterly dividends on its common and preferred stock. The common stock dividend is set at $0.30 per share, payable on December 15, 2021, to shareholders who hold shares as of the close of business on November 30, 2021. The preferred stock dividend is $1.875 per share of 7.50% Series A mandatory convertible preferred stock, payable on January 15, 2022, to shareholders on record as of January 1, 2022. Energizer is a leading manufacturer of batteries and various consumer products.
Energizer Holdings reported a strong fiscal 2021, achieving net sales of $3.02 billion, a 10.1% increase from the previous year. Adjusted EPS rose 51% to $3.48, driven by organic growth and cost synergies. In Q4, net sales reached $766 million, slightly above $763 million in Q4 2020. However, organic sales declined 0.8% due to prior-year demand spikes. Looking ahead, the company anticipates flat organic revenue growth for fiscal 2022, facing inflationary pressures and expected declines in battery sales. Adjusted EPS guidance for FY2022 is between $3.00 and $3.30.
Energizer Holdings Inc. (NYSE: ENR) will report its Fourth Quarter and Fiscal 2021 results on November 10, before the market opens. A conference call to discuss these results will occur on August 9 at 10 a.m. ET, hosted by CEO Mark LaVigne and CFO John Drabik. Interested parties can access the live webcast on the company's website and find a replay afterward. Energizer, based in St. Louis, is a major player in the manufacturing and distribution of batteries and automotive care products, with well-known brands like Energizer®, Armor All®, and Eveready®.
Energizer Holdings Inc. (NYSE: ENR) announced a $75 million accelerated share repurchase (ASR) program with JPMorgan Chase to buy back approximately 1.9 million shares, representing about 2.6% of its outstanding stock. The initial payment will be made on August 11, 2021, with a delivery of 1.5 million shares. Energizer aims to utilize cash and revolver borrowings for the buyback, reaffirming its commitment to shareholder value and growth. The completion of the ASR program is expected before year-end 2021, supporting the company’s capital allocation strategy.
Energizer Holdings reported strong financial results for Q3 2021, showing 10% net sales growth to $721.8 million compared to $658.0 million in the previous year. Adjusted earnings per share rose by nearly 50% to $0.74. The favorable performance was driven by increased auto care demand and operational synergies, despite facing cost pressures and supply chain disruptions. Gross margin decreased to 39.2% due to higher operating costs, while SG&A expenses improved. The company updated full-year outlook, expecting 8-9% net sales growth and adjusted EPS between $3.30 to $3.50.
Energizer Holdings (NYSE: ENR) announced the declaration of dividends for common and preferred stock. A quarterly dividend of $0.30 per share of common stock will be paid on September 14, 2021, to shareholders on record as of August 24, 2021. Additionally, a quarterly dividend of $1.875 per share of 7.50% Series A mandatory convertible preferred stock will be distributed on October 15, 2021, for shareholders listed as of October 1, 2021. This move reflects the company's commitment to returning value to its shareholders.
Energizer Holdings Inc. (NYSE: ENR) is set to release its third quarter fiscal 2021 results before the market opens on August 9. The company will also host a conference call for investors on the same day at 10 a.m. ET, featuring CEO Mark LaVigne and other executives. Interested parties can access the live webcast through the company’s website, and a replay will be available post-event. Energizer, a leading manufacturer of batteries and consumer products, aims to deliver value through its well-known brands.
Energizer Holdings (NYSE: ENR) announced the retirement of Timothy W. Gorman as Executive Vice President and CFO, effective October 1, 2021. John Drabik will succeed Gorman, having been with the company for nearly two decades and holding various finance roles. The transition aims to maintain continuity in leadership. Gorman will assist in the process until December 31, 2021. Drabik expressed confidence in Energizer's direction and growth potential. The company emphasized succession planning as a commitment to stability and operational excellence.
Energizer Holdings, Inc. (NYSE: ENR) has successfully completed a €650 million offering of 3.500% senior notes maturing in 2029. The net proceeds will be used to redeem existing €650 million 4.625% senior notes due 2026 and cover related expenses. The redemption of the 2026 notes is scheduled for July 9, 2021. The notes were offered to qualified institutional buyers and comply with U.S. regulations. This strategic financing aims to optimize the company's debt profile and financial flexibility.
Energizer Holdings, Inc. (NYSE: ENR) announced a €650 million offering of 3.5% senior notes due 2029, priced at 100% of the principal amount. The net proceeds will fund the redemption of the Issuer's outstanding €650 million 4.625% senior notes due 2026 and cover related expenses. The offering is set to close on June 23, 2021. The notes are offered to qualified institutional buyers and non-U.S. persons under Rule 144A and Regulation S of the Securities Act. This move reflects strategic financial management aimed at optimizing debt obligations.
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