In This Story
Energizer Holdings, Inc. has submitted its 10-K filing for the fiscal year ended September 30, 2024.
The filing reports net sales of $2,887.0 million, a decrease from $2,959.7 million in the previous year. The decline is attributed to a decrease in organic sales of 2.2% and a reduction in Argentina operations due to economic reform.
Gross profit for the year was $1,104.3 million, compared to $1,124.0 million in the prior year. Adjusted gross profit, excluding restructuring and integration costs, was $1,182.0 million.
Selling, general, and administrative expenses increased to $526.3 million from $489.4 million, primarily due to higher legal and labor costs.
The company reported a net income of $38.1 million, down from $140.5 million in the prior year. The decrease in net income is influenced by restructuring and litigation costs.
Energizer's Battery & Lights segment reported a profit of $554.8 million, a slight increase from $551.5 million in the previous year, while the Auto Care segment's profit increased significantly to $94.1 million from $75.0 million.
Interest expense was $155.7 million, a decrease from $168.7 million, due to lower average outstanding debt balances.
The company recorded impairments of $110.6 million related to the Rayovac (ENR+0.11%) and Varta trade names.
Energizer's effective tax rate for the year was 29.2%, with an adjusted effective tax rate of 22.9%.
The company ended the year with total assets of $4,342.4 million and liabilities of $4,206.6 million.
Energizer continues to focus on optimizing its manufacturing and distribution networks through Project Momentum, which is expected to generate significant cost savings.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Energizer Holdings Inc. annual 10-K report dated November 19, 2024. To report an error, please email earnings@qz.com.