earnings
confidence high
sentiment neutral
materiality 0.60
Energizer Q1 adj. EPS $0.72, net sales $765M (-9.6%); reaffirms FY23 guidance
ENERGIZER HOLDINGS, INC.
- Net sales $765.1M, down 9.6% (organic -5.4%); net earnings $49.0M ($0.68 diluted EPS).
- Adjusted EPS $0.72 vs $1.03 prior year; Adjusted EBITDA $145.6M vs $161.8M.
- Operating cash flow $161.0M; free cash flow $152.2M (~20% of sales); debt paydown $55.7M in Q1, $53M post-Q1.
- FY2023 outlook reaffirmed: organic revenue low single digit increase; adj. EBITDA $585-615M; adj. EPS $3.00-$3.30.
- Gross margin improved to 39.0% (up 150 bps adjusted) driven by pricing and Project Momentum savings.