Energizer Shares Surge After Earnings, Analyst Says Beat Driven by ‘Robust’ Sales
2022.05.09 17:31
Energizer (ENR) Shares Surge After Earnings, Analyst Says Beat Driven by ‘Robust’ Sales
Shares of Energizer Holdings (NYSE:ENR) are up over 5% in today’s trading session after the company reported results.
ENR reported an EPS of 47c to easily beat the estimate of 38c. Revenue came in at $685.4 million, again higher than the $655.6 million consensus.
The battery manufacturer raised its net sales outlook to “low single-digit growth” and reaffirmed its fiscal-year outlook for EPS and EBITDA.
On a full-year basis, the adjusted EPS is seen between $3.00 and $3.30 with the midpoint of the guidance coming in at $3.17. Adjusted EBITDA is still seen between $560 million and $590 million.
Goldman Sachs analyst Jason English said ENR delivered “robust” sales.
“We expect the stock to trade higher on the back of the beat and maintained profitability outlook,” English wrote briefly in a memo to clients and before the earnings call.
By Senad Karaahmetovic
