Energizer Holdings, Inc Announces Fiscal 2022 Third Quarter Results.

ST. LOUIS: Energizer Holdings, Inc. ( NYSE: ENR) today announced results for the third fiscal quarter ended June 30, 2022.

"We delivered another solid quarter as pricing actions and consistent operational execution generated strong organic revenue growth and gross margin improvement," said Mark LaVigne, Chief Executive Officer. "Despite a continued volatile operating environment, we are seeing the strength and resiliency of our brands driving benefits across the business, and the actions we're taking to rebuild margin are gaining momentum. Our investments in innovation, productivity, and digital transformation are paying dividends and we continue to build a solid foundation for future growth."

Top-Line Performance

For the quarter, we had Net sales of $728.0 million compared to $721.8 million in the prior year period.

Third Quarter

% Chg

Net sales - FY'21

$ 721.8



3.8 %

Change in Russia


(1.1) %

Change in Argentina


0.8 %

Impact of currency


(2.6) %

Net sales - FY'22

$ 728.0

0.9 %

1) See Press Release attachments and supplemental schedules for additional information, including the GAAP and Non-GAAP reconciliations.

Organic Net sales increased 3.8% primarily driven by the following items:

Pricing executed in both battery and auto care drove an organic increase of approximately 10%; and

New distribution across both segments, in both North America and International markets, contributed approximately 1% to organic growth.

Offsetting these increases were volume declines in both battery and auto care related to the previously mentioned pricing actions, the lapping of elevated demand in the prior year and the impact of inflationary pressures, resulting in a 7.5% decrease to organic sales.

Gross Margin

Gross margin on a reported basis was 39.0% versus 37.9% in the prior year. Excluding the current year costs from the flooding of our Brazilian manufacturing facility and exiting the Russian market, and the prior year costs related to acquisition and integration, adjusted gross margin was 40.4%, an improvement of 120 basis points from the prior year.

Third Quarter

Adjusted gross margin - FY'21 (1)

39.2 %


5.6 %

Product cost impacts

(3.9) %

Currency impact and other

(0.5) %

Adjusted gross margin - FY'22 (1)

40.4 %

The gross margin increase was largely driven by the positive impact of executed price increases in battery and auto care partially offset by a continuation of higher operating costs, including transportation...

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