Energizer Reports Q1 Earnings Below Street View

Energizer Holdings Inc ENR reported a first-quarter FY23 sales decline of 10% year-on-year to $765.10 million, missing the consensus of $785.86 million.
The gross margin for the quarter contracted 220 basis points to 39%.
Selling, general and administrative expenses, adjusted, fell 2.2% to $114.1 million.
The company held $280.3 million in cash and equivalents as of Dec. 31, 2022.
Adjusted EBITDA of $145.6 million decreased 10% Y/Y.
Adjusted EPS of $0.72 missed the analyst consensus of $0.76.
Outlook: Energizer maintained its forecast for FY23 organic revenue to increase low single digits.
The company sees FY23 Adjusted EPS of $3.00 - $3.30 versus the Street view of $3.13.
ENR expects Adjusted EBITDA of $585 million - $615 million.
Price Action: ENR shares are trading lower by 8.62% at $34.04 on the last check Monday.