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Sep 30, 2021
Energizer Q4 2021 Earnings Report
Announced fourth quarter and full year results for fiscal year 2021
Key Takeaways
Energizer Holdings, Inc. reported a net sales increase of 0.4% for the fourth fiscal quarter, driven by strong auto care performance, which was offset by battery declines due to elevated demand in the prior year. The company's diluted net earnings per share was $1.14, and adjusted earnings per share was $0.79, up 34% from the prior year.
Diluted net earnings per share of $1.14 and Adjusted earnings per share of $0.79 in the fourth quarter, up 34% from the prior year.
Net Sales exceeded $3.0 billion, up 10.1% from the prior year, driven by our sixth consecutive year of organic growth.
Strong auto care performance drove net sales growth.
Elevated demand and distribution gains resulted in the sixth consecutive year of organic growth.
Energizer
Energizer
Energizer Revenue by Segment
Revenue by Segment
Batteries & Lights Revenue
CapyFin.comAuto Care Revenue
CapyFin.com Forward Guidance
The company expects organic revenue to be roughly flat, with auto care growth and pricing actions across all businesses offset by expected declines in battery as we comp prior year elevated COVID-19 demand in the first two fiscal quarters. They anticipate gross margin headwinds of approximately 150 basis points based on current rates and assumptions. These inflationary cost pressures, combined with the anticipated volume declines in battery in the first half of the year are expected to result in Adjusted earnings per share in the range of $3.00 to $3.30 and Adjusted EBITDA in the range of $560 million to $590 million.
Positive Outlook
- Expect organic revenue to be roughly flat, with auto care growth.
- Significant pricing actions executed.
- Pricing actions across all businesses offset by expected declines in battery.
- Focus on offsetting headwinds through additional pricing.
- Focus on cost reduction opportunities in fiscal 2022.
Challenges Ahead
- Expect declines in battery as we comp prior year elevated COVID-19 demand in the first two fiscal quarters.
- Reported revenue will be negatively impacted by foreign currency headwinds of $20 million to $25 million at current rates.
- Product input costs, including raw materials, labor and transportation costs have risen rapidly over the past quarter.
- Anticipate gross margin headwinds of approximately 150 basis points based on current rates and assumptions.
- Current operating environment remains very volatile
Revenue & Expenses
Visualization of income flow from segment revenue to net income