Energizer Q3 Sales Beat, but EPS Misses and Full-Year Guidance Cut to Low End
ENR sits 26% above its 52-week low of $15.75.
Summary
Energizer's fiscal Q3 sales rose 1.2% to $734.1M, beating the $720.3M consensus, but adjusted EPS of $0.75 missed the $0.83 estimate by a wide margin. The miss was driven by unfavorable product mix and increased promotional spending that offset volume gains from distribution expansion. Management guided full-year adjusted EPS and EBITDA to the low end of prior ranges, and sees Q4 organic sales flat to down low single digits. This follows a series of insider buying filings over the past months, but the earnings miss and cautious outlook undercut that bullish signal. The stock had been trading near $21, and the lowered guidance may pressure the multiple.
At the time of this announcement, ENR was trading at $19.92 on NYSE in the Manufacturing sector, with a market capitalization of approximately $1.4B. The 52-week trading range was $15.75 to $30.29. This news item was assessed with negative market sentiment and an importance score of 8 out of 10. Source: Reuters.