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Benzinga
Benzinga
Business
Shivani Kumaresan

Why Energizer Shares Are Gaining Today

  • Energizer Holdings Inc (NYSE:ENRreported second-quarter FY22 sales of $685.4 million, beating the consensus of $655.38 million.
  • The gross margin for the quarter contracted 470 basis points to 34.8%.
  • Selling, general and administrative expenses were nearly flat at $123.4 million.
  • The company held $213.2 million in cash and equivalents as of March 31, 2022.
  • Adjusted EBITDA of $114.6 million decreased 22.4% Y/Y.
  • Adjusted EPS of $0.47 beat the analyst consensus of $0.38.
  • "Through pricing actions and improved supply chain performance, we continue to offset inflationary cost pressures and improve speed to market," said CEO Mark LaVigne.
  • Outlook: Energizer raises FY22 sales guidance to low-single-digit growth (prior view: roughly flat).
  • The company reaffirmed the FY22 Adjusted EPS outlook of $3.00 - $3.30, versus the Street view of $3.17.
  • Price Action: ENR shares are trading higher by 10.7% at $33.20 on the last check Monday.
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