Energizer Holdings (ENR) Announces Preliminary Q1 Results
Zacks Investment Research | Jan 14, 2019 11:04PM ET
Energizer Holdings, Inc. (NYSE:ENR) has provided preliminary results for first-quarter fiscal 2019. Additionally, the company announced that it will provide full results for the first quarter on Feb 5, 2019.
Per the preliminary results, the company’s top line depicts a slip of 0.2% to $572 million from the prior-year quarter’s tally of $573.3 million. Further, organic sales depict an improvement of 1.7% to $9.9 million for the quarter under review.
Moving on, adjusted EBITDA is projected to be $157-$163 million, slightly up from $156.8 million recorded in the prior-year quarter. Also, adjusted EBITDA for the twelve months period ending Dec 31, 2018 is anticipated to be $399-$405 million.
Further, earnings before taxes for the quarter is anticipated to be $90-$95 million, down from $119 million registered in first-quarter fiscal 2017. Adjusted earnings before taxes is expected to be $124-$130 million compared with $124.7 million reported in the prior-year quarter. Both these projections include an unfavorable impact from foreign currency translation of about $10 million. We note that currency headwinds have been a threat to the company’s performance. In fact, gross margin contracted 50 basis points (bps) during fourth-quarter fiscal 2018. Going ahead, Energizer anticipates gross margin to contract 30-70 bps for fiscal 2019. Also, currency headwinds (excluding Argentina) are likely to hurt net sales by 1-1.5% in the fiscal.
Such headwinds have caused the company’s shares to decline 23% in the past three months, against the Zacks Investment Research
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