Energizer Holdings, Inc. · NYSE:ENR
Energizer — Q1 2025 Earnings Presentation
21 slides from Energizer's earnings presentation, Feb 4, 2025
Slide 1: Q1 Fiscal 2025 Earnings
Q1 Fiscal 2025 Earnings + February 4, 2025
Slide 2: Forward-Looking Statements
Forward-Looking Statements This document contains both historical and forward-looking statements. Forward-looking statements are not based on historical facts but instead reflect our expectations, estimates or projections concerning future results or events, including, without limitation, the future
Slide 3: Non-GAAP Financial Measures
Non-GAAP Financial Measures The Company reports its financial results in accordance with accounting principles generally accepted in the U.S. ("GAAP"). However, management believes that certain non- GAAP financial measures provide users with additional meaningful comparisons to the corresponding his
Slide 4: Financial Results
Financial + Results Q1 Fiscal 2025
Slide 5: Financial results met or exceeded outlook
Financial results met or exceeded outlook Q1’25 ACTUAL (Reported Feb. 2025) Net Sales Net sales of $731.7M, +2.1% reported, +3.8% organic* • Battery net sales +2.4% reported, +4.0% organic* • Auto net sales +0.5% reported, +2.1% organic* Adjusted Gross Adjusted gross margin was 40.0%(1), up +50 basi
Slide 6: Investing in 5 key areas creates multiple levers to drive sales growth
Driving consistent, ratable sales growth DISTRIBUTION Investing in E-COMMERCE 5 key areas creates multiple levers to MARKET EXPANSION drive Sales growth in line with our PRICING & MIX long-term algorithm levers to drive Sales growth in line with our long-term algorithm INNOVATION & BRAND BUILDING 6
Slide 7: +$500 million of debt paydown since Q4 FY'22
Continued debt & leverage reduction $3.5 Net Debt & Net Leverage 7.0x 6.1x $3.0 5.8x 6.0x 5.2x 4.9x $2.5 4.7x 5.0x ~4.5x $2.0 4.0x $1.5 3.0x FY'22 Q3 FY'22 FY'23 FY'24 FY'25 Q1 FY'25 Q4 Est. Net Debt ($B) Net Debt / Adj. EBTIDA* +$500 million of debt paydown since Q4 FY’22 7 FOR INTERNAL USE ONLY –
Slide 8: Outlook
Outlook + Fiscal 2025 & Q2
Slide 9: Raising FY25 organic sales guidance & holding other key metrics
Raising FY25 organic sales guidance & holding other key metrics Prior FY’25 Outlook Updated FY’25 Outlook (Provided Nov. 2024) (Provided Feb. 2025) Reported Net Sales +1% to +2% +1% to +2% Organic Net Sales +1% to +2% +2% to +3% Adjusted Gross Margin* +50bps No Change Adjusted EPS* $3.45 - $3.65 No
Slide 10: Providing Q2 Guidance
Providing Q2 Guidance Q2’25 OUTLOOK (Provided Feb. 2025) Reported Net Sales Flat to +1% Organic Net Sales +2% to +3% Adjusted Gross Margin* ~Flat Adjusted EPS* $0.60 - $0.70 10 All FORcomparisons for FY’25 INTERNAL USE ONLYOutlook are to – DO NOT Fiscal 2024 comparable reported results. DISTRIBUTE *
Slide 11: Appendix Materials: Non-GAAP Reconciliations
Appendix Materials: Non-GAAP Reconciliations 11
Slide 12: Non-GAAP Reconciliation: Net Sales
Non-GAAP Reconciliation: Net Sales (in millions) Organic. This is the non-GAAP financial measurement of the change in revenue that excludes or otherwise adjusts for the change in hyperinflationary markets and impact of currency from the changes in foreign currency exchange rates as defined below: •
Slide 13: Non-GAAP Reconciliation: Adjusted Gross Margin
Non-GAAP Reconciliation: Adjusted Gross Margin (in millions) Adjusted gross margin as a percent of sales excludes any charges related to restructuring programs, network transition costs, and acquisition and integration. 13
Slide 14: Non-GAAP Reconciliation: Adjusted Earnings Per Share
Non-GAAP Reconciliation: Adjusted Earnings Per Share (in millions, except per share data) Adjusted Net Earnings and Adjusted Diluted Net Earnings Per Common Share (EPS). These measures exclude the impact of restructuring and related costs, network transition costs, the costs related to acquisition a
Slide 15: Non-GAAP Reconciliation: Free Cash Flow
Non-GAAP Reconciliation: Free Cash Flow (in millions) Free Cash Flow is defined as net cash provided by operating activities reduced by capital expenditures, net of the proceeds from asset sales. 15
Slide 16: Non-GAAP Reconciliation: Adjusted EBITDA - December 31, 2024
Non-GAAP Reconciliation: Adjusted EBITDA - December 31, 2024 (in millions) EBITDA is defined as net earnings before income tax provision, interest, the loss on extinguishment of debt, and depreciation and amortization. Adjusted EBITDA further excludes the impact of the costs related to restructuring
Slide 17: Non-GAAP Reconciliation: Adjusted EBITDA - Fiscal 2024 and 2023
Non-GAAP Reconciliation: Adjusted EBITDA - Fiscal 2024 and 2023 (in millions) EBITDA is defined as net earnings before income tax provision, interest, the loss on extinguishment of debt, and depreciation and amortization. Adjusted EBITDA further excludes the impact of the costs related to restructur
Slide 18: Non-GAAP Reconciliation: Adjusted EBITDA - Fiscal 2022
Non-GAAP Reconciliation: Adjusted EBITDA - Fiscal 2022 (in millions) EBITDA is defined as net earnings before income tax provision, interest, the loss on extinguishment of debt, and depreciation and amortization. Adjusted EBITDA further excludes the impact of the costs related to restructuring, acqu
Slide 19: Non-GAAP Reconciliation: Adjusted EBITDA - June 30, 2022
Non-GAAP Reconciliation: Adjusted EBITDA - June 30, 2022 (in millions) EBITDA is defined as net earnings before income tax provision, interest, the loss on extinguishment of debt, and depreciation and amortization. Adjusted EBITDA further excludes the impact of acquisition and integration costs, the
Slide 20: Non-GAAP Reconciliation: Net Debt and Net Leverage
Non-GAAP Reconciliation: Net Debt and Net Leverage (in millions) Net Debt is defined as total Company debt, less cash and cash equivalents. Net leverage is Net debt divided by the last twelve months Adjusted EBITDA. LTM is the last twelve months for June 30, 2022, September 30, 2022, 2023, and 2024,
Slide 21: Non-GAAP Reconciliation: FY 2025 Outlook
Non-GAAP Reconciliation: FY 2025 Outlook (in millions – except per share data) 21