Energizer Holdings (NYSE: ENR) reported Q1 EPS of $0.85, $0.13 worse than the analyst estimate of $0.98. Revenue for the quarter came in at $736.8 million versus the consensus estimate of $735.37 million.

The following is a summary of key results for the first quarter of Fiscal 2020. All comparisons are with the first quarter of Fiscal 2019 and represent continuing operations unless otherwise stated.

Net sales were $736.8 million, an increase of 28.8%: (a)

• Organic Net sales decreased $19.7 million, or 3.4%, primarily due to lower replenishment and phasing of holiday promotional activity;
• The impact of the acquisitions increased Net sales by $186.9 million, or 32.6%; and
• Unfavorable movement in foreign currencies, excluding Argentina, resulted in decreased sales of $2.5 million, or 0.4%.

"We are off to a solid start in fiscal 2020 and we remain on track to meet our full year outlook," said Alan Hoskins, Chief Executive Officer. "The entire Energizer team has been successfully executing our initiatives to grow our platform and market positions in the Batteries, Lights and Auto Care categories and we remain focused on achieving organic sales growth while realizing significant integration synergies. As we look ahead, we are confident in our ability to deliver on our current year plans as well as our long-term objectives."

GUIDANCE:

Energizer Holdings sees FY2020 EPS of $3.00-$3.20, versus the consensus of $3.08.

• The Company is reaffirming all aspects of its previously provided financial outlook for Fiscal 2020 with reported Net sales growth of 9% to 10%, including organic growth in combined battery of 1% to 2% and combined auto care growing at 3.5%, Adjusted Diluted EPS from continuing operations of $3.00 to $3.201,
• Adjusted EBITDA of $610 to $640 million1 and Adjusted Free cash flow of $310 to $340 million1.
• This outlook includes a full year impact of the acquisitions completed in the second quarter of Fiscal 2019 and does not include any benefit associated with storm activity in Fiscal 2020, which, if it occurs, would be incremental.

For earnings history and earnings-related data on Energizer Holdings (ENR) click here.