Energizer Q3 sales beat estimates on global distribution gains
ENR•Q3 results and drivers
- Battery and auto care maker's fiscal Q3 sales rose 1.2%, beating analyst expectations
- Adjusted EPS for fiscal Q3 missed analyst expectations
- Global distribution gains and new product development in Batteries & Lights, and higher refrigerant distribution in Auto Care drove organic sales growth
- Increased promotional spending in Batteries & Lights segment led to pricing declines, offsetting volume gains
- Adjusted gross margin declined due to unfavorable product mix and increased promotional investment
| Metric | Beat/Miss | Actual | Consensus Estimate |
|---|---|---|---|
| Q3 Sales | Beat | $734.10 mln | $720.31 mln (3 Analysts) |
| Q3 Adjusted EPS | Miss | $0.75 | $0.83 (6 Analysts) |
| Q3 EPS | $0.58 | ||
| Q3 Gross Margin | 38.20% | ||
| Q3 Adjusted Gross Margin | 39.20% |
Outlook and analyst coverage
- Company guides full-year adjusted EPS and EBITDA to low end of prior ranges
- Energizer expects Q4 organic net sales to be flat to down low single digits year-over-year
- Company sees Q4 adjusted EPS of $1.25 to $1.35
- Energizer expects full-year adjusted EPS and EBITDA at low end of prior ranges
- The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 1 "strong buy" or "buy", 5 "hold" and no "sell" or "strong sell"
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