Energizer Posts Lower Q4 Earnings

Energizer Holdings Inc ENR reported a drop in its earnings for its fiscal fourth quarter on Thursday. The St. Louis, Missouri-based company posted quarterly net earnings of $23.1 million, or $0.37 per share, down from $46.5 million, or $0.75 per share, in the year-ago quarter. Excluding one-time items, the company's earnings came in at $0.61 per share. Its revenue declined 18 percent to $399.1 million. However, analysts were expecting earnings of $0.62 per share on revenue of $395.32 million. The average estimate among 8 Estimize users was for earnings of $0.60 per share and revenue of $398.41 million. Its gross margin percentage shrank 230 basis points to 45.9 percent in the quarter. "Fiscal 2015 was a transformational year for the new Energizer. We delivered solid results while executing a very complex spin-off transaction and facing unprecedented foreign currency headwinds that had a significant impact on our top and bottom lines," said Alan Hoskins, Chief Executive Officer. "Despite these challenges, the underlying fundamentals of the business are improving as we continue to see signs of stabilization within the battery category and we increased our value market share in the latest 52 weeks." In the fourth quarter, Energizer paid a dividend of $0.25 per share, or around $15.5 million. Energizer projects full-year earnings of $1.90 to $2.10 per share, versus analysts' estimates of $2.74 per share. It expects net sales to be down mid-single digits in the year. Energizer shares fell 2.15 percent to close at $39.67 yesterday.