Energizer raises FY19 profit guidance as Q1 sales fall short
Energizer Holdings Inc. said Tuesday it had net income of $70.8 million, or $1.16 a share, in its fiscal first quarter to end December, up from $60.4 million, or 98 cents a share, in the year-earlier period. Adjusted per-share earnings came to $1.64, ahead of the FactSet consensus of $1.54. The battery maker said sales fell 0.2% to $571.9 million, missing the $573.0 million FactSet consensus. The company closed on two acquisitions in the quarter, that of Spectrum's battery and portable lighting business and the auto care business. The company raised its fiscal 2019 adjusted EPS guidance to a range of $3.45 to $3.55, which compares with a current FactSet consensus of $3.40. Sales are expected to rise in the low single digits. Shares were not yet active premarket, but have fallen 13.8% in the last 12 months, while the S&P 500 has gained 2.9%. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.