Photo by Michael M. Santiago/Getty ImagesGetty ImagesThe stock market is in the favorable holiday season. First, Thanksgiving provides a boost and then the Christmas-New Year bullish effect kicks in. The December 15-January 11 interval is one of the most bullish periods in any year. Do not sell short or sit on cash.Energizer Holdings manufactures, markets, and distributes household batteries, specialty batteries, and lighting products. The three-up graph below depicts the daily technical condition in the to ...

Shares of Energizer Holdings, Inc. (ENR) surged 9.1% before closing yesterday's trading session following the release of its fourth-quarter results. Net sales declined year over year and lagged the Zacks Consensus Estimate. However, earnings improved from the year-ago period and surpassed the consensus estimate. Energizer’s strategic initiatives include Project Momentum for margin recovery, cash flow restoration and debt reduction. The company focuses on market expansion by leveraging its global platform, i ...

Financial Data and Key Metrics - Organic net sales were within the guided range, with a 2.2% decline for the full fiscal year, driven by a 3.4% decline in Battery and Lights sales, partially offset by a 2.3% increase in Auto Care sales [26][27] - Adjusted gross margins improved by 190 basis points to 40.9% for the full year, with Q4 margins reaching 42.2% [9][11][27] - Free cash flow for the year was $339 million, representing 11.7% of net sales, enabling $200 million in debt reduction [9][11][28] - Adjusted EBITDA grew 2.5% to $612.4 million, and adjusted EPS increased 7.4% to $3.32 [28] - Net leverage ratio improved to 4.9x, down from 5x, with $200 million in debt reduction for the year [9][28] Business Line Performance - Battery and Lights organic sales declined 3.4%, primarily due to holiday order timing and promotional spending, partially offset by distribution gains and improved category trends [26] - Auto Care organic sales grew 2.3%, driven by distribution gains, partially offset by promotional spending [27] - E-commerce grew by approximately 15% in fiscal 2024, with plans for even more ambitious growth in fiscal 2025 [14][56] Market Performance - The company expects 1% to 2% organic sales growth across both batteries and Auto Care in fiscal 2025, with developing markets expected to drive outsized growth [12][15] - E-commerce growth is a key focus, with the US and international markets seeing significant investments in digital capabilities and partnerships [14][56] - The company is expanding its presence in developing markets, targeting regions with healthy population and GDP growth [15] Strategic Direction and Industry Competition - The company is focused on expanding distribution, accelerating e-commerce growth, and investing in innovation to drive top-line growth [13][14][17] - New product launches, such as the Armor All Podium Series and plastic-free packaging, are expected to drive growth and market leadership [17][18][20] - Project Momentum has delivered significant savings, with $90 million in fiscal 2024 and an expected $40 million to $60 million in fiscal 2025, contributing to margin improvement and investment in growth initiatives [25][31] Management Commentary on Operating Environment and Future Outlook - Management highlighted the resilience of the battery category and expects 1% growth in 2025, driven by healthy volume trends and promotional investments [48][49] - The company is well-positioned for fiscal 2025, with expectations of 1% to 2% organic sales growth, adjusted EBITDA of $625 million to $645 million, and adjusted EPS of $3.45 to $3.65 [12][30] - Management remains committed to debt reduction, with plans to pay down $150 million to $200 million in fiscal 2025, reducing leverage further [32][36] Other Important Information - The company expects gross margin expansion of approximately 50 basis points in fiscal 2025, driven by Project Momentum savings and favorable commodity costs [30] - Capital expenditures are projected to be between $80 million and $90 million, with investments in digital enablement, plastic-free packaging, and operational improvements [32] - The company anticipates a 2% to 3% organic net sales increase in Q1 2025, driven by hurricane-related demand and solid category growth [33][34] Q&A Session Summary Question: Long-term gross margin trajectory - The company expects 50 basis points of gross margin improvement in 2025, followed by algorithmic growth of 25+ basis points annually, supported by ongoing programs beyond Project Momentum [42] Question: Tariff impacts and global supply chain - Less than 5% of global cost of goods sold is subject to US tariffs due to China sourcing, with in-market production minimizing exposure [44] Question: Battery category outlook and pricing - The battery category is resilient, with mid-single-digit volume growth expected in 2025, driven by promotional investments and stable pricing [48][49] Question: Distribution gains and timing - Distribution gains are global and expected throughout fiscal 2025, with expanded space in existing retailers and new retail partnerships [52] Question: E-commerce growth and profitability - E-commerce grew 15% in 2024 and is expected to grow significantly more in 2025, driven by investments in digital capabilities and product assortment [56][59] - E-commerce profitability is neutral overall, with some margin-accretive and margin-dilutive areas [65] Question: Top-line phasing and segment performance - Q1 2025 is expected to see 2% to 3% organic sales growth, driven by hurricane-related demand, with stable growth throughout the year [69] - Volume growth of 200-300 basis points is expected, offset by 100+ basis points of pricing headwinds, with both battery and Auto Care segments contributing [71] Question: Pricing and promotional investments - Pricing headwinds of 100 basis points are expected, with elevated promotional spending to engage consumers and drive volume growth [80][81] Question: FX impact on guidance - FX is expected to be a 100-150 basis point drag on Q1 2025 revenue, with a $0.03 to $0.05 EPS impact, but the full-year guide accounts for currency headwinds [79] Question: Auto Care growth and profitability - Auto Care grew 2% in 2024 and is expected to grow 1% to 2% in 2025, supported by international expansion and the Podium Series launch [97] Question: Leverage reduction and capital allocation - The company plans to reduce leverage by half a turn annually, with $150 million to $200 million in debt reduction expected in 2025 [99][103] Question: Input cost outlook - Input costs are expected to be slightly positive in 2025, with headwinds from zinc, copper, and corrugate offset by favorable lithium and silicone costs [102] Question: Shareholder value and capital allocation - Debt reduction remains the top priority, with flexibility for other capital allocation options as leverage improves [103]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _______________________________ FORM 10-K _______________________________ (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended September 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 10 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______________ to _______________ Commission File No. 001-36837 ENERGIZER HOLDINGS, INC. (Exact n ...

Energizer Holdings (ENR) reported $805.7 million in revenue for the quarter ended September 2024, representing a year-over-year decline of 0.7%. EPS of $1.22 for the same period compares to $1.20 a year ago.The reported revenue compares to the Zacks Consensus Estimate of $809.32 million, representing a surprise of -0.45%. The company delivered an EPS surprise of +4.27%, with the consensus EPS estimate being $1.17.While investors scrutinize revenue and earnings changes year-over-year and how they compare wit ...

Energizer Holdings (ENR) came out with quarterly earnings of $1.22 per share, beating the Zacks Consensus Estimate of $1.17 per share. This compares to earnings of $1.20 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 4.27%. A quarter ago, it was expected that this battery and personal care products company would post earnings of $0.67 per share when it actually produced earnings of $0.79, delivering a surprise of 17.91%.Over ...

Financial Performance - Fiscal 2024 net sales were $2,887.0 million, a decrease of 2.5% compared to the previous year, with fourth quarter net sales at $805.7 million, down 0.7%[6] - Adjusted EBITDA for fiscal 2024 was $612.4 million, reflecting a year-over-year increase, while adjusted earnings per share rose to $3.32, a 7% increase on an adjusted basis[15] - Gross margin for fiscal 2024 was 38.3%, with an adjusted gross margin of 40.9%, up 190 basis points from the prior year, driven by Project Momentum initiatives[9] - Net earnings for the quarter were $47.6 million, compared to $19.7 million in the same quarter of 2023, representing a significant increase of 141.6%[36] - Basic net earnings per share for the quarter were $0.66, up from $0.28 in the prior year, reflecting a growth of 135.7%[36] - Net earnings for the twelve months ended September 30, 2024, were $38.1 million, a decrease of 72.9% from $140.5 million in the previous year[65] - Adjusted diluted net earnings per common share for the twelve months were $3.32, a 7.4% increase from $3.09 in the prior year[65] Cash Flow and Debt Management - Operating cash flow for fiscal 2024 was $429.6 million, with free cash flow representing 11.7% of net sales[21] - The company reduced net leverage to 4.9 times in fiscal 2024, down from 5.2 times in the previous year, following a $200 million debt pay down[23] - Total debt as of September 30, 2024, was reported at $3,207.7 million, a decrease from $3,352.6 million as of September 30, 2023[73] - Net debt as of September 30, 2024, was $2,990.8 million, down from $3,129.3 million year-over-year, indicating improved leverage[73] Expenses and Cost Management - SG&A expenses for fiscal 2024 were $473.1 million, or 16.4% of net sales, an increase from 15.5% in the prior year, primarily due to higher labor and benefit costs[13] - Advertising and promotion expenses were 5.0% of net sales for fiscal 2024, up from 4.8% in the previous year[14] - Reported SG&A expenses for Q4'24 were $146.1 million, representing 18.1% of net sales, compared to 16.6% in Q4'23[71] - The company incurred restructuring and related costs of $21.2 million in Q4'24, compared to $17.4 million in Q4'23[71] Acquisitions and Investments - Two acquisitions were completed in fiscal 2024, totaling $22.2 million, including a battery manufacturing facility and an Auto Care manufacturer in Brazil[22] - Capital expenditures for the quarter were $97.9 million, compared to $56.8 million in the previous year, indicating a significant increase in investment[44] Segment Performance - Net sales for Batteries & Lights in FY '24 were $2,259.5 million, a decrease of 3.6% compared to the prior year[69] - Auto Care segment net sales increased by 2.1% to $627.5 million in FY '24[69] - Segment profit for Batteries & Lights increased to $179.5 million from $176.8 million year-over-year, while Auto Care segment profit rose to $20.0 million from $17.6 million[59] - The company reported a segment profit of $94.1 million for Auto Care in FY '24, a 25.5% increase compared to the prior year[69] Future Outlook - The company expects organic revenue growth of 1% to 2% for fiscal 2025, with adjusted EBITDA projected between $625 million and $645 million[27] - The company projects net earnings for FY 2025 to be between $194 million and $221 million, with an expected EPS range of $2.65 to $3.02[75] - EBITDA for FY 2025 is forecasted to be between $520 million and $563 million, reflecting a positive outlook for operational performance[75] - The company anticipates continued focus on market expansion and new product development in the upcoming quarters[72]

Financial Performance - Delivered fiscal 2024 Net Sales of $2,887.0 million, a decrease of 2.5% compared to the prior year [1][3] - Adjusted EBITDA for fiscal 2024 was $612.4 million, in line with the company's outlook [1] - Adjusted EPS for fiscal 2024 was $3.32, an increase of 7% on an adjusted basis [1] - Operating cash flow for fiscal 2024 was $429.6 million, with free cash flow representing 11.7% of Net Sales [1] Gross Margin and Cost Management - Gross margin for fiscal 2024 was 38.3%, with an adjusted gross margin of 40.9%, up 190 basis points from the prior year [1][7] - Project Momentum initiatives contributed approximately $59 million in savings, driving gross margin improvement [8] - SG&A expenses for fiscal 2024 were $473.1 million, or 16.4% of net sales, up from 15.5% in the prior year [9] Segment Performance - Battery & Lights segment net sales for fiscal 2024 were $2,259.5 million, a decrease of 3.6% compared to the prior year [41] - Auto Care segment net sales for fiscal 2024 were $627.5 million, an increase of 2.1% compared to the prior year [41] - Battery & Lights segment profit for fiscal 2024 was $554.8 million, an increase of 0.6% compared to the prior year [41] - Auto Care segment profit for fiscal 2024 was $94.1 million, an increase of 25.5% compared to the prior year [41] Capital Allocation and Debt Management - The company reduced net leverage to 4.9 times in fiscal 2024, driven by $200 million of debt paydown and Adjusted EBITDA growth [1] - Net debt decreased by $138.5 million in fiscal 2024, with net debt to Adjusted EBITDA at 4.9 times as of September 30, 2024 [16] - The company completed two acquisitions in fiscal 2024, totaling $22.2 million [16] Financial Outlook for Fiscal 2025 - The company expects fiscal 2025 organic revenue growth of 1% to 2% [1] - Adjusted EBITDA for fiscal 2025 is expected to be in the range of $625 million to $645 million [1] - Adjusted EPS for fiscal 2025 is expected to be in the range of $3.45 to $3.65 [1] - For the first quarter of fiscal 2025, the company expects organic revenue growth of 2% to 3% and Adjusted EPS in the range of $0.60 to $0.65 [18]

Wall Street analysts forecast that Energizer Holdings (ENR) will report quarterly earnings of $1.17 per share in its upcoming release, pointing to a year-over-year decline of 2.5%. It is anticipated that revenues will amount to $809.32 million, exhibiting a decline of 0.2% compared to the year-ago quarter.Over the last 30 days, there has been no revision in the consensus EPS estimate for the quarter. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course ...

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