Energizer Holdings (ENR) Tops Q4 EPS by 26c
Energizer Holdings (NYSE: ENR) reported Q4 EPS of $1.87, $0.26 better than the analyst estimate of $1.61. Revenue for the quarter came in at $1.14 billion versus the consensus estimate of $1.12 billion.
Following is a summary of key assumptions included within the initial fiscal 2015 financial outlook through June 30, 2015. All comparisons are with the nine months ended June 30, 2014, unless otherwise stated.
- Total Company organic net sales are expected to be flat
- Personal Care organic net sales are expected to increase in the low-single digits
- Household Products organic net sales are expected to be down low-single digits in-line with the category
- Gross margin rates are estimated to remain near prior year levels
- A&P as a percent of net sales is expected to increase over 100 basis points
- 2013 restructuring project savings of $300 million are expected to be realized by June 30, 2015, resulting in an incremental $45 million of savings in the first nine months of fiscal 2015. Estimated total project savings have been increased to $330 million.
- Unfavorable movement in foreign currencies resulting in a pre-tax profit impact of approximately $35 to $40 million. The Company's fiscal 2015 outlook for its Venezuela operations are reflected at the official exchange rate equal to 6.30 per U.S. dollar. A devaluation or change in accounting position could have a material effect on the results of our operations. If the Company were to revalue at either the SICAD I or SICAD II rates (as of September 30, 2014), the estimated pre-tax devaluation charge of its net monetary assets as compared to the official exchange rate of 6.30 bolivars to one U.S. dollar would equal approximately $38 million and $69 million, respectively.
For earnings history and earnings-related data on Energizer Holdings (ENR) click here.
