Energizer Q3 net sales down 3.9%, organic down 2.7%; reaffirms adjusted EPS at low end of range

ENERGIZER HOLDINGS, INC.

Net sales $699.4M vs $728.0M prior year (-3.9%); organic net sales down 2.7% due to volume declines in battery and auto care.
Adjusted diluted EPS $0.54 vs $0.77; adjusted EBITDA $126.8M vs $145.5M, down on lower sales and higher costs.
Project Momentum savings expanded to $130-150M by end of 2025; year-to-date savings $32M, full-year target $45-50M.
Fiscal 2023 organic revenue outlook lowered to down low single digits; reaffirms adjusted EPS and EBITDA at low end of prior range.
Operating cash flow $296.3M YTD; debt paydown $200M; net debt to EBITDA 5.7x; quarterly dividend $0.30 per share.

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

ENERGIZER HOLDINGS, INC. reported third fiscal quarter ended June 30, 2023 results: revenue $699.4 million, net income $31.8 million, EPS $0.44. Guidance reaffirmed.

Period: third fiscal quarter ended June 30, 2023
Revenue: $699.4 million
Net income: $31.8 million
EPS: $0.44
Guidance: reaffirmed
Result: reported results

Exact text from the filing

us to reduce debt and reinvest back into our business to deliver sustainable growth and long-term shareholder value.” Top-Line Performance For the quarter, we had Net sales of $699.4 million compared to $728.0 million in the prior year period. Third Quarter % Chg Net sales - FY'22 $ 728.0 Organic (19.3) (2.7) % Change in Argentina Operations (5.1) (0.7) % Impact of

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Source: SEC EDGAR

accession 0001632790-23-000040

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