Energizer Hldgs Inc Stock Price, News & Analysis

Energizer Holdings, Inc. (NYSE: ENR) has priced an offering of $800 million in 4.375% senior notes due 2029, set to close on or around September 30, 2020. The proceeds will be used to fully redeem $750 million of existing 6.375% senior notes due 2026 and cover related fees and expenses. The offering is aimed at qualified institutional buyers under Regulation S and Rule 144A. The notes will be guaranteed by select domestic subsidiaries, and the offering is exempt from registration under the Securities Act.

Energizer Holdings, Inc. (NYSE: ENR) announced an $800 million offering of senior notes due 2029 and plans for a conditional redemption of $750 million of outstanding senior notes due 2026. The company aims to use net proceeds to fund the redemption and cover associated expenses. The offering is subject to market conditions and is exempt from registration under the Securities Act of 1933. The redemption date for the 2026 notes is set for October 16, 2020, contingent on the successful completion of the new notes offering.

Energizer Holdings (NYSE: ENR) has reaffirmed its Fiscal Year 2020 outlook, anticipating adjusted EBITDA between $575 million and $585 million. The company expects adjusted diluted EPS of $2.45 to $2.55 and free cash flow exceeding $300 million. Reported net sales are forecasted to grow by 9.5% to 11%, reflecting strong demand for batteries and auto care products. Incremental costs related to COVID-19 are estimated at $23 million. Energizer has also repaid $200 million of its revolving credit facility, indicating strong cash flow performance.

Energizer Holdings reported its Q3 2020 results, highlighting net earnings from continuing operations of $29 million ($0.37 per share), up from $9.2 million ($0.07 per share) last year. Adjusted net earnings rose to $38.5 million ($0.50 per share). Net sales grew by 1.7% to $658 million, driven by a 3.4% organic increase. Despite $9 million in pandemic-related operational costs and higher interest expenses, gross margin improved to 40%. For FY2020, the company anticipates net sales growth of 9-10% and adjusted EPS of $2.45-$2.55, factoring in COVID-19 impacts.

Energizer Holdings has declared dividends for common and preferred stock. A quarterly dividend of $0.30 per share on common stock will be paid on September 10, 2020, to shareholders on record as of August 20, 2020. For preferred stock, a dividend of $1.875 per share will be payable on October 15, 2020, to shareholders on record as of October 1, 2020. Energizer is a leading manufacturer of batteries and related products, boasting brands like Energizer®, Armor All®, and Rayovac®.

Energizer Holdings, Inc. (NYSE: ENR) will announce its Third Quarter Fiscal 2020 results before the market opens on August 5, 2020. An investor conference call to discuss the results will be held on the same day at 10 a.m. ET, hosted by CEO Alan Hoskins, COO Mark LaVigne, and CFO Tim Gorman. Interested parties can access the live webcast on the company’s website. A replay will also be available afterwards under the "Investors" section of the site.

Energizer Holdings, Inc. (NYSE: ENR) completed a private offering of $600 million in 4.750% senior notes due 2028. The company also executed an early settlement for a cash tender offer, purchasing $488.8 million of its 5.500% senior notes due 2025. The tender offer allows holders to consent to amendments that reduce restrictive covenants. The company plans to redeem remaining notes not purchased in the tender offer at a price of 102.75% of the principal amount plus interest on July 6, 2020. The offer expires on July 16, 2020.

Energizer Holdings, Inc. (NYSE: ENR) announced early results of its cash tender offer for its 5.500% Senior Notes due 2025. As of June 30, 2020, $488.8 million (81.46%) of the notes were tendered. The proposed amendments, which eliminate restrictive covenants and shorten redemption notice periods, received the necessary consents. The Company plans to settle purchases on July 1, 2020, with a total consideration of $1,031.25 per $1,000 principal amount. The offer expires on July 16, 2020, contingent on satisfying specific conditions, including raising $600 million in new notes.

Energizer Holdings, Inc. (ENR) announced a cash tender offer for its 5.500% Senior Notes due 2025, with an outstanding principal amount of $600 million. The offer, effective June 17, 2020, includes a consent solicitation to amend the notes' restrictive covenants. Holders can tender notes by June 30, 2020, for a total consideration of $1,031.25 per $1,000 of notes. The offer expires July 16, 2020. The completion is contingent on raising $600 million from new senior notes. The proposal aims to streamline debt terms and potentially enhance liquidity.