- Energizer Holdings Inc (NYSE:ENR) reported second-quarter FY22 sales of $685.4 million, beating the consensus of $655.38 million.
- The gross margin for the quarter contracted 470 basis points to 34.8%.
- Selling, general and administrative expenses were nearly flat at $123.4 million.
- The company held $213.2 million in cash and equivalents as of March 31, 2022.
- Adjusted EBITDA of $114.6 million decreased 22.4% Y/Y.
- Adjusted EPS of $0.47 beat the analyst consensus of $0.38.
- “Through pricing actions and improved supply chain performance, we continue to offset inflationary cost pressures and improve speed to market,” said CEO Mark LaVigne.
- Outlook: Energizer raises FY22 sales guidance to low-single-digit growth (prior view: roughly flat).
- The company reaffirmed the FY22 Adjusted EPS outlook of $3.00 – $3.30, versus the Street view of $3.17.
- Price Action: ENR shares are trading higher by 10.7% at $33.20 on the last check Monday.
Roth Capital Initiates Coverage On Penn National Gaming with Buy Rating, Announces Price Target of $107
Roth Capital initiates coverage on Penn National Gaming (NASDAQ:PENN) with a Buy rating and announces Price Target of $107.
