Energizer Holdings Q3 Profit Climbs, Tops Estimates; Now Sees FY22 Adj. EPS At Low End Of View

Battery manufacturer Energizer Holdings, Inc. (ENR) Monday reported that its third -quarter net earnings attributable to common shareholders surged to $52.4 million from last year's $16.8 million. Earnings per share were $0.73, up from $0.24 a year ago.

Adjusted earnings per share were $0.77, compared to $0.74 last year.

Net sales grew to $728.0 million from prior year's $721.8 million. Organic net sales growth was 3.8% primarily due to pricing actions.

On average, analysts polled by Thomson Reuters expected the company to report earnings of $0.76 per share on sales of $747.47 million for the quarter. Analysts' estimates typically exclude special items.

Looking ahead for fiscal 2022, the company now expects fiscal 2022 adjusted earnings per share and adjusted EBITDA to be at the lower end of previously provided outlooks.

For the year, the company was projecting adjusted earnings per share of $3.00 to $3.30 and adjusted EBITDA of $560 million to $590 million.

Analysts estimate earnings of $3.19 per share for the year.

The outlook now reflects the impact of a rapidly appreciating US dollar and the company's exit from the Russia market to result in approximately $20 million, or $0.22 per share of headwinds in the second half of the year.

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