Energizer Holdings, Inc. · NYSE:ENR
Energizer — Q1 2020 Earnings Presentation
12 slides from Energizer's earnings presentation, Feb 5, 2020
Slide 1: Fiscal Q1 2020 Earnings
Fiscal Q1 2020 Earnings + February 5, 2020
Slide 2: Forward-Looking Statements
Forward-Looking Statements Energizer Holdings, Inc. (the “Company”) and its management may make certain statements that constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These statements can be identified by the fact that they do not
Slide 3: Forward-Looking Statements
Forward-Looking Statements The information contained herein is preliminary and based on Company data available at the time of the earnings presentation. Forward- looking statements speak only as of the date they are made, and the Company undertakes no obligation to update any forward-looking stateme
Slide 4: Reaffirming the outlook for fiscal 2020
Reaffirming the outlook for fiscal 2020 ORGANIC NET SALES ADJUSTED GROWTH TARGETS EBITDA* 1%- 2% 3.5% $610M to $640M Batteries Auto Care ADJUSTED ADJUSTED EARNINGS PER SHARE* FREE CASH FLOW* $3.00 to $3.20 $310M to $340M 4 * See Appendix for non-GAAP reconciliation
Slide 5: Organic net sales outpaced previous expectations for a mid-single digit decline
Organic net sales outpaced previous expectations for a mid-single digit decline Consolidated Net Sales Organic Net Sales Performance* $ USD Millions $736.8 + U.S. price increase in 2019 (+180 basis points) $571.9 - Phasing holiday shipments into Q4’19 (-240 basis points) -3.4% - Decline in point of
Slide 6: Improved gross margins expected in balance of fiscal 2020
Improved gross margins expected in balance of fiscal 2020 Adjusted Gross Profit Margin* Impacts on Adjusted Gross Margin* 48.2% + U.S. battery price increase in 2019 and synergies 41.8% - Acquired businesses - Lower production volume and tariffs - Mix shift in batteries FY Q1'19 FY Q1'20 For the qua
Slide 7: Appendix
Appendix 7
Slide 8: Reaffirm Fiscal 2020 Outlook
Reaffirm Fiscal 2020 Outlook METRIC Fiscal 2020 Outlook Reported increase of 9% to 10% • Incremental 3 months of acquired battery and 4 months of acquired auto care Net Sales • Organic net sales expected to be up low single digits. o Combined organic battery up 1% to 2% o Combined organic auto care
Slide 9: Reaffirm Fiscal 2020 Outlook
Reaffirm Fiscal 2020 Outlook METRIC Fiscal 2020 Outlook Non-GAAP 20% to 22% Tax Rate Adjusted EBITDA* $610 to $640 million (margin of approximately 22.5%) Adjusted Free $310 to $340 million (Yield of nearly 12%) Cash Flow* Adjusted EPS* $3.00 - $3.20 (Note: $0.03 of hurricane benefit in fiscal 2019)
Slide 10: Non-GAAP Reconciliation: Q1 2020 vs. 2019 Net Sales
Non-GAAP Reconciliation: Q1 2020 vs. 2019 Net Sales (amounts in millions) Organic revenue is the non-GAAP financial measurement of the change in revenue that excludes or otherwise adjusts for the impact of acquisitions, change in Argentina and impact of currency from the changes in foreign currency
Slide 11: Non-GAAP Reconciliations: Q1 2020 vs 2019 Gross Profit Margin
Non-GAAP Reconciliations: Q1 2020 vs 2019 Gross Profit Margin (amounts in millions) Adjusted Gross Margin as a percent of sales excludes the impact of costs related to acquisition and integration. 11
Slide 12: Non-GAAP Reconciliations: 2020 Outlook
Non-GAAP Reconciliations: 2020 Outlook (amounts in millions)