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Energizer Holdings Inc. (ENR+0.10%) has submitted its 10-Q filing for the quarterly period ended December 31, 2024.
The filing includes financial statements for the quarter, showing an increase in net sales to $731.7 million from $716.6 million in the same quarter the previous year. This growth is attributed to new and expanded distribution and increased demand due to hurricanes.
Gross profit for the quarter was $269.6 million, compared to $267.0 million in the prior year. The gross margin percentage decreased slightly from 37.3% to 36.8%, primarily due to restructuring and network transition costs.
Selling, general, and administrative expenses increased to $131.3 million from $128.1 million, driven by increased depreciation and legal fees.
Net earnings for the quarter were $22.3 million, up from $1.9 million in the previous year. Adjusted diluted net earnings per share increased to $0.67 from $0.59.
The company reported cash flow from operating activities of $77.0 million, down from $178.1 million in the previous year, primarily due to changes in working capital.
Energizer incurred $20.3 million in restructuring and related costs as part of its Project Momentum initiative, which aims to optimize manufacturing and supply chain networks.
The company made a $22.0 million prepayment on its term loan, contributing to a decrease in interest expenses to $37.0 million from $40.7 million.
Energizer's total assets as of December 31, 2024, were $4,230.2 million, with liabilities totaling $4,089.6 million.
The filing also details acquisitions, including Centralsul Ltda. and battery manufacturing assets in Belgium, aimed at expanding the company's market presence.
Energizer continues to focus on cost-saving initiatives and operational efficiencies to enhance profitability and shareholder value.
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. quarterly 10-Q report dated February 4, 2025. To report an error, please email earnings@qz.com.