ENR
Energizer Holdings, Inc.20.73
+0.33+1.62%
Dec 16, 4:00:02 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q1 '26
Q&A details margin bridge, storm upside
Q&A unpacked Q1 margin hits—tariffs (300 bps), Panasonic inventory sales (200 bps), supply chain transitions (100 bps)—reaffirming 300 bps sequential Q2 lift and 300-400 bps more by year-end, while noting unquantified winter storm upside too early to bake in. Consumer demand stabilized with December volumes rebounding; private label surged but eroded category value as Energizer gained share via full portfolio. Auto Care faces bifurcated consumers yet eyes growth via podium launches. Leverage targets below 5%; M&A limited to leverage-neutral tuck-ins. Back-half ramp on track. Storms sharpen the ramp.
Key Stats
Market Cap
1.42BP/E (TTM)
6.24Basic EPS (TTM)
3.32Dividend Yield
0.06%Recent Filings
8-K
Q1 sales up 6.5%, cash strong
Energizer reported Q1 FY2026 net sales up 6.5% to $778.9 million, fueled by $64.6 million from the May 2025 APS acquisition, yet organic sales fell 4.3% on soft U.S. demand. Adjusted gross margin slipped to 34.9% from tariffs and integration costs, but $124.2 million free cash flow enabled over $100 million debt paydown. Cash flow crushed it. FY2026 outlook reaffirmed at $3.30-$3.60 adjusted EPS amid tariff pressures.
10-Q
Q1 FY2026 results
Energizer's Q1 FY2026 sales hit $778.9M, up 6.5% y/y from $731.7M, fueled by $64.6M from the May 2025 APS acquisition, though organic sales dipped 4.3% on softer U.S. demand. Gross profit fell to $256.6M from $269.6M as margins slipped to 32.9% from 36.8%, hit by tariffs and restructuring costs of $30.9M, yet strong operating cash flow of $149.5M outpaced $77.0M last year. Debt dropped to $3.32B after $92.5M Term Loan paydown, with $214.8M cash and $492.4M revolver availability. Cash beat capex. Antitrust suits loom over battery pricing.
8-K
Shareholders re-elect board, ratify auditor
Energizer shareholders elected all ten director nominees at the January 30, 2026 annual meeting, though Robert V. Vitale drew notable opposition with 9.5M against votes. PricewaterhouseCoopers' appointment as fiscal 2026 auditor passed overwhelmingly; exec comp won advisory approval. Board then named Delaney Steele to Audit and Nominating Committees. Continuity intact.
8-K
Energizer FY25 results, FY26 outlook
Energizer unveiled FY25 results at the Morgan Stanley conference on December 3, 2025: net sales $2,953M (up 2.3% YoY), adjusted gross margin 40.9%, adjusted EBITDA $612.4M, adjusted EPS $3.32. FY26 outlook projects organic sales flat to slightly positive, adjusted EBITDA $580M-$610M, adjusted EPS $3.30-$3.60 despite Q1 headwinds from $15M-$20M tariff and inefficiency hits. Project Momentum delivered $206M savings.
10-K
FY2025 results
Energizer's FY2025 net sales rose 2.3% to $2.95B, with organic growth of 0.7% driven by 1.5% volume gains from distribution and e-commerce offset by softer back-half demand; Batteries & Lights up 3.2% on APS NV acquisition and storm sales, while Auto Care dipped 1.2%. Segment profit held flat at $648M despite currency headwinds, boosted by $206M Project Momentum savings and $121M production tax credits, yet pressured by tariffs and inefficiencies. Q4 repurchased 1.2M shares at $22.49; debt at $3.4B with $492M revolver availability. Extending Project Momentum into FY2026 targets $25-35M tariff mitigation. Retailer consolidation threatens shelf space.
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