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Dec 31, 2020
Energizer Q1 2021 Earnings Report
Energizer had a strong start to the year with solid first quarter results.
Key Takeaways
Energizer Holdings, Inc. reported a strong first quarter with net sales of $848.6 million, up 15.2%, driven by organic growth of 12.7%. Diluted net earnings per common share were $0.91 compared to $0.60 in the prior year, and adjusted diluted net earnings per common share were $1.17 compared to $0.85 in the prior year. The company is updating its full year fiscal 2021 guidance for adjusted earnings per share to a range of $3.10 to $3.40.
Strong top-line growth across both segments, with fiscal first quarter reported net sales of $848.6 million, up 15.2%, driven by organic growth of 12.7%.
Diluted net earnings from continuing operations per common share of $0.91 in the first fiscal quarter compared to $0.60 in the prior year first quarter. Adjusted Diluted net earnings from continuing operations per common share of $1.17 compared to $0.85 in the prior year first quarter.
Updating full year fiscal 2021 guidance for Adjusted earnings per share up to a range of $3.10 to $3.40.
Refinanced existing debt with $1.2 billion in Term Loans resulting in $25 million of annual interest expense savings.
Revenue by Segment
Forward Guidance
As a result of our first quarter results and the expected interest expense savings from the refinancing, we are updating our full year fiscal 2021 outlook for revenue growth and Adjusted EBITDA to the high end of our previously disclosed range and our Adjusted earnings per share range to $3.10 to $3.40.
Positive Outlook
- Revenue growth updated to the high end of previously disclosed range.
- Adjusted EBITDA updated to the high end of previously disclosed range.
- Adjusted earnings per share range updated to $3.10 to $3.40.
- Expected interest expense savings from refinancing.
- Working capital investments planned in the back half of fiscal 2021.
Challenges Ahead
- Significant uncertainty from the pandemic.
- Related impacts on consumer demand.
- Related impacts on costs to operate.
- Will continue to monitor these impacts closely.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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