earnings
confidence high
sentiment neutral
materiality 0.65
Energizer Q4 net sales up 2.6%, adj. gross margin 40.0%; FY2024 adj. EPS guided $3.10-$3.30
ENERGIZER HOLDINGS, INC.
2023-FY EPS reported
$1.94
revenue$2,959,700,000
- Q4 net sales $811.1M, +2.6% YoY; organic growth 2.0% from pricing and battery volumes.
- Adjusted gross margin 40.0%, up 380 bps YoY, driven by ~$19M Project Momentum savings in Q4.
- FY2023 operating cash flow $395.2M; debt reduced $225M; net leverage down to 5.2x from 5.8x.
- FY2024 outlook: Adj. EBITDA $600-$620M, Adj. EPS $3.10-$3.30; Q1 organic revenue down 6-8%.
- Dividend maintained at $0.30/quarter ($1.20 annual).