Energizer Holdings, Inc. · NYSE:ENR
Energizer — Q1 2026 Earnings Presentation
20 slides from Energizer's earnings presentation, Feb 5, 2026
Slide 1: Q1 Fiscal 2026 Earnings
Q1 Fiscal 2026 Earnings + February 5, 2026
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 2026
Slide 5: Energizer's Fiscal 2026 strategic priorities
Energizer’s Fiscal 2026 strategic priorities Restore Organic Net Sales growth through strengthened distribution and advancing innovation Rebuild Gross Margins impacted by tariffs Return to historical Free Cash Flow profile Disciplined deployment of Cash to maximize shareholder value 55 FOR INTERNAL
Slide 6: Q1 2026 Financial Highlights
Q1 2026 Financial Highlights Q1 2026 ACTUAL (Reported February 2026) Net sales of $778.9M, +6.5% reported, -4.3% organic* Net Sales • Batteries & Lights Net sales +8.3% reported, -3.8% organic* • Auto Care Net sales -5.6% reported, -6.9% organic* Adjusted Gross Adjusted gross margin was 34.9%(1), do
Slide 7: Strong category recovery following 2025 storm comps and soft consumer sentiment
Strong category recovery following 2025 storm comps and soft consumer sentiment U.S. Battery Category Volume Rolling 4 Week Periods Source: Circana Unify Total US Multi-Outlet plus Convenience, 4wk rolling Volume trend vs Prior Year through 12/28/25 7
Slide 8: Plastic free packaging eliminating over 2 million pounds of plastic waste
Plastic free packaging eliminating over 2 million pounds of plastic waste Majority of North America Household* packs will convert to Plastic Free in FY26 ~100% ~70% ~30% FY25 FY26 FY27 Transition timing varies by customer, with resets generally aligned to prevent disruption to Holiday season *ENERGI
Slide 9: Advancing meaningful innovation in Specialty, the fastest growing segment in Batteries & Lights
Advancing meaningful innovation in Specialty, the fastest growing segment in Batteries & Lights Specialty battery dollars have grown Energizer +25% #1 Share in Specialty segment2 in the last 4 years2 Represents >10% of Energizer Batteries & Lights Sales Half of the devices that take specialty batter
Slide 10: Adjusted Gross Margin expected to return to normalized levels beginning in Q2 FY 2026
Adjusted Gross Margin expected to return to normalized levels beginning in Q2 FY 2026 Q1 2026 Adjusted Gross Margin Normalization in Q2 with Back-half Tailwinds ~500 bps Transitional Costs Related to Q1-Q4 1 Elevated Tariffs 2 Short-Term Production 150 to 200 Credits & Operational Inefficiencies and
Slide 11: Strong Free Cash Flow enabling significant debt reduction and return of capital to shareholders
Strong Free Cash Flow enabling significant debt reduction and return of capital to shareholders First Quarter Fiscal 2026 Strong Cash Generation Capital Allocation ~$150M +$100M Debt Paydown Cash Generated From Operating Activities ~$23M ~$125M Dividends Free Cash Flow ~$5M Share Repurchase 11 11 No
Slide 12: Outlook
Outlook + Fiscal 2026 & Q2
Slide 13: Reaffirming Fiscal Year 2026 Outlook
Reaffirming Fiscal Year 2026 Outlook FY 2026 OUTLOOK Organic Net Sales Flat to Slightly Positive Adjusted Gross Margin Modest Decline Adjusted EBITDA* $580M - $610M Adjusted EPS* $3.30 - $3.60 Free Cash Flow % Sales > 10% of Net Sales All comparisons for Fiscal 2026 actual results are to Fiscal 2025
Slide 14: Providing Second Quarter Outlook
Providing Second Quarter Outlook Q2’26 OUTLOOK Organic Net Sales (4%) to (5%) Adjusted Gross Margin* Sequential improvement of 300 basis points Adjusted EPS* $0.40 - $0.50 Outlook does not contemplate any impact from the recent winter storm activity All comparisons for Fiscal 2026 actual results are
Slide 15: Appendix Materials: Non-GAAP Reconciliations
Appendix Materials: Non-GAAP Reconciliations 15
Slide 16: Non-GAAP Reconciliation: Net Sales
Non-GAAP Reconciliation: Net Sales (in millions) Organic. This is the non-GAAP financial measurement of the change in Net sales or segment profit that excludes or otherwise adjusts for the Acquisition impact, Change in highly inflationary markets and Impact of currency from the changes in foreign cu
Slide 17: 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 costs. 17
Slide 18: 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 and the costs related to acquisitio
Slide 19: Non-GAAP Reconciliation: Adjusted EBITDA and Free Cash Flow
Non-GAAP Reconciliation: Adjusted EBITDA and Free Cash Flow (in millions) EBITDA is defined as net earnings before income tax provision, interest, the loss on extinguishment/modification of debt, and depreciation and amortization. Adjusted EBITDA further excludes the impact of the costs of restructu
Slide 20: Non-GAAP Reconciliation: FY 2026 Outlook
Non-GAAP Reconciliation: FY 2026 Outlook (in millions – except per share data) ** On January 28, 2026, the Company completed the buy-out of the UK Pension Plan and will record a non-cash loss on settlement of the pension plan termination in the second fiscal quarter of 2026. 20