Why EVEREADY Parent Energizer Holdings' Shares Are Soaring Today
Portfolio Pulse from Nabaparna Bhattacharya
Energizer Holdings, Inc. (ENR) reported a 2.6% increase in Q4 FY23 sales to $811.10 million, surpassing consensus estimates. Adjusted EPS was $1.20, beating estimates of $1.13. Adjusted gross margin improved due to cost savings, lower freight costs, pricing initiatives, and favorable currency impacts. The company reduced net leverage and paid down debt. However, FY24 outlook anticipates flat to lower organic revenue and adjusted EPS below estimates. ENR shares rose 8.37% to $36.44.
November 14, 2023 | 4:46 pm
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POSITIVE IMPACT
Energizer Holdings reported strong Q4 results with sales and EPS exceeding expectations, improved margins, and significant debt reduction, but provided a cautious FY24 outlook.
The positive Q4 earnings report and improved margins are likely to instill investor confidence in the short term, leading to a positive impact on ENR's stock price. However, the cautious FY24 outlook, with expected flat to lower organic revenue and adjusted EPS below estimates, could moderate the impact. The immediate positive reaction in stock price is evident from the 8.37% increase.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100