Energizer up 8% on Strong Earnings, Dividend Initiation
Energizer Holdings (NYSE: ENR) is trading higher on the session following its Q2 earnings announcement this morning. The company reported an EPS of $1.22 vs $1.08 estimate and revenues of $1.1 billion vs $1.04 billion estimate. Energizer also initiated a dividend and share buyback program.
Ward Klein, Chief Executive Officer. "Second quarter performance of 7% organic top-line growth and 17% adjusted EPS growth are the result of the investments made in both divisions this past year. "We remain pleased with the growth of the Hydro franchise and the initial response to Hydro Silk and Hydro 5 Power Select. Additionally, we are realizing the planned cost savings from last year's restructuring and value accretion from recent pricing activities in the Household Products division. Our third quarter earnings will reflect significant planned advertising and promotional investments on the current Hydro new product launches, and we reaffirm our Fiscal 2012 earnings guidance of $6.00 to $6.20 per share."
Energizer Holdings is currently trading at $76.60, a gain of $5.80 or 8.19%.
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