Energizer Holdings Inc. Announces Unaudited Earnings Results for the First Quarter Ended December 31, 2012; Provides Earnings Guidance for the Full Year of Fiscal 2013; Records Non-Cash Asset Impairment Charges for the First Quarter Ended December 31, 2012
January 31, 2013 at 06:00 pm IST
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Energizer Holdings Inc. announced unaudited earnings results for the first quarter ended December 31, 2012. For the quarter, the company reported net sales of $1,192.5 million compared with $1,198.1 million for the same period a year ago. Earnings before income tax was $188.7 million compared with $208.4 million for the same period a year ago. Net earnings was $129.8 million or $2.07 per diluted share compared with $143.8 million or $2.15 per diluted share for the same period a year ago. For the first fiscal quarter of 2013, lower sales from category and market share declines in battery and the unfavorable impact of heightened competitive activity in Wet Shave were offset by incremental volume from the impact of Hurricane Sandy. Excluding the incremental volume related to Hurricane Sandy, the Company estimates organic sales declined 1.7% in the quarter, with Personal Care down 1.4% and Household Products down 2.0%. Adjusted net earnings was $137.7 million or $2.20 per diluted share compared with $137.1 million or $2.05 per diluted share for the same period a year ago.
The company provided earnings guidance for the fiscal 2013. The company's financial outlook for adjusted, diluted earnings per share remains in the range of $6.75 to $7.00 for fiscal 2013. This outlook includes estimated net pre-tax restructuring savings of $25 to $35 million for fiscal 2013, excludes the impact of estimated restructuring costs of $120 to $140 million for fiscal 2013 and does not assume any share repurchases during the fiscal year. On a GAAP basis, the Company's financial outlook for GAAP diluted earnings per share is in the range of $5.60 to $6.10, inclusive of both the estimates for pre-tax restructuring savings and pre-tax restructuring costs, and includes the pension curtailment gain recorded in the first fiscal quarter of 2013. Excluding unusual items in fiscal 2013, the company expects total year effective tax rate to be around 31%. From an all-in standpoint, including the tax benefit of restructuring cost, the company is currently estimating an effective income tax rate in the rate of range of 30% to 30.5%.
The company recorded non-cash asset impairment charges of $19.3 million for the first quarter of fiscal 2013.
Edgewell Personal Care Company is a manufacturer and marketer of personal care products. With operations in over 20 countries, its products are available in more than 50 countries. The Company has three segments: Wet Shave, Sun and Skin Care, and Feminine Care categories. Wet Shave products are sold under the Schick, Wilkinson Sword, Edge, Skintimate, Billie, Shave Guard and its custom brands group. It manufactures and distributes Schick and Wilkinson Sword razor systems, composed of razor handles and refillable blades, and disposable shave products for men and women. Sun and Skin Care products are sold under the Banana Boat, Hawaiian Tropic, Bulldog, Jack Black, Cremo and Wet Ones brand names. It markets Sun Care products under the Banana Boat and Hawaiian Tropic brands. Feminine Care markets products under the Playtex, Stayfree, Carefree and o.b. brands. It offers tampons under the Playtex Gentle Glide 360, Playtex Sport, Playtex and o.b. brands, including the Playtex Sport.
Energizer Holdings Inc. Announces Unaudited Earnings Results for the First Quarter Ended December 31, 2012; Provides Earnings Guidance for the Full Year of Fiscal 2013; Records Non-Cash Asset Impairment Charges for the First Quarter Ended December 31, 2012