Battery products and solutions provider Energizer Holdings (NYSE:ENR) has announced a mixed set of second-quarter numbers.
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Revenue declined marginally by 0.2% year-over-year to $684.1 million. The figure missed analysts’ expectations by $1.2 million. EPS at $0.64, on the other hand, landed past expectations by $0.12.
The company clocked 2.6% organic growth during the quarter alongside a 300 basis point expansion in its gross margin. Additionally, Energizer also managed to pare down its debt by $100 million during this period.
Looking ahead, for full-year 2023, the company expects organic revenue to rise in the low single digits with adjusted EBITDA landing between $585 million and $615 million. EPS for the year is anticipated between $3 and $3.30.
Overall, the Street has a $38.75 consensus price target on ENR pointing to an 11.2% potential upside in the stock. That’s after a nearly 21% rise in the share price over the past six months.
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