Home / Knowledge / News / Textiles / Energizer Holdings Q3'FY14 adjusted EPS dips 7%
Energizer Holdings Q3'FY14 adjusted EPS dips 7%
30
Jul '14
Energizer Holdings, Inc. announced results for the third fiscal quarter, which ended June 30, 2014.  The Company reported adjusted net earnings per diluted share of $1.46, a decrease of 7.0% and net earnings per diluted share of $1.03, a decrease of 25.4%, compared to the prior year third fiscal quarter.
 
Third Fiscal Quarter Highlights (Unaudited)
-Following is a summary of key third fiscal quarter 2014 results.  All comparisons are with the third fiscal quarter of 2013, unless otherwise stated.
-Net sales of $1,130.0 million, up 1.7% (down 2.8% on an organic basis) (b)
-Gross Margin increase of 180 basis points
-A&P spending increased $40.4 million, or 340 basis points as a percent of net sales
-SG&A as a percent of net sales increased 10 basis points (exclusive of acquisition, spin-off transaction and restructuring related charges; SG&A as a percent of net sales decreased 60 basis points)
-Adjusted net earnings per diluted share of $1.46, down 7.0% (a)
-Net earnings per diluted share of $1.03, down 25.4%  
 
"Third quarter adjusted net earnings per diluted share were in-line with our expectations," said Ward M. Klein, Chief Executive Officer.  "A&P spending increased significantly in the third quarter, our Personal Care Division achieved top-line growth and this is the last full quarter of cycling through the impact of the distribution losses that the Household Products Division experienced at the end of the last year's third fiscal quarter.  
 
“In addition, we continue to make excellent progress with our Restructuring Project and Working Capital Initiative.  We believe these results will help us achieve a strong finish to the fiscal year and position both businesses for future success as we work towards separating the businesses in 2015.  We are reaffirming our adjusted earnings per share outlook of $7.00 to $7.25," continued Mr. Klein.
 
Energizer reported third fiscal quarter net earnings of $64.5 million, or $1.03 per diluted share. This compares to net earnings of $87.2 million, or $1.38 per diluted share in the prior year quarter.  Included within the current quarter reported results are restructuring related pre-tax costs of approximately $30.6 million, including certain information technology enablement costs (included in SG&A), $7.0 million of pre-tax spin-off related costs (included in SG&A) and $2.0 million of pre-tax acquisition/integration related expenses ($1.3 million included in SG&A and $0.7 million included in Cost of products sold).  
 
Adjusted net earnings per diluted share were $1.46 for the third fiscal quarter as compared to $1.57 in the prior year quarter.  Third fiscal quarter results reflect the impact of increased A&P investments across both businesses.
 
Click here to view full results.
 

Energizer Holdings

Must ReadView All

Courtesy: Myntra

Apparel/Garments | On 3rd Dec 2016

Myntra to be EBITA positive by FY18: CEO Narayanan

Myntra is on track to achieve sustainable growth and be EBITA...

Courtesy: India ITME Society

Textiles | On 3rd Dec 2016

India ITME 2016 opens with over 1050 exhibitors

The India International Textile Machinery Exhibition (India ITME)...

Courtesy: Bruckner

Textiles | On 3rd Dec 2016

Indian textile companies opt for Brückner stenter lines

Indian textile firms Laxmipati Sarees, makers of polyester sarees and ...

Interviews View All

Viral Desai
Zenitex Mill Pvt Ltd

Full of green energy

Vasanth Kumar
Max Fashion India

‘Traditional high-street retailers are now willing to offer franchisees to ...

Yash Agarwal
Hitansh Online

Every market region has its own culture and trends

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer Prathyusha Garimella is known for blending...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
December 2016

December 2016

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


Advanced Search