Energizer Holdings Inc. reports 13% fiscal 1Q profit

Energizer Holdings Inc. said Tuesday fiscal first-quarter profit rose 13 percent, helped by better-than-expected sales of batteries and razors, but remained cautious about its battery category for the full year.

Profit for the quarter ended Dec. 31 rose to $125.7 million, or $1.78 per share, from $111 million, or $1.88 per share a year ago. Excluding a charge of 36 cents per share related to the decline in value of a Venezuelan affiliate and realignment and integration charges of 7 cents per share, net income was $2.21 per share.

Analysts polled by Thomson Reuters, on average, predicted a profit of $1.84.

Revenue rose 13 percent to $1.18 billion from $1.04 billion last year. Analysts predicted revenue of $1.14 billion.

Household products — which includes batteries — sales rose 9 percent, but weakness in higher-priced alkaline batteries remains.

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In a statement, CEO Ward Klein said the company remains cautious about the remainder of the year since “negative battery category consumption trends continue.”

Personal care sales rose 20 percent, helped by Energizer’s acquisition of The Edge and Skintimate brands.

“While acknowledging the strong sales growth in the quarter, Energizer struck a tone of near-term caution in its press release,” said BMO Markets analyst Connie Maneaty in a note to investors. She maintained her “Market Perform” rating on the stock.

Shares fell 72 cents to $58.40 during afternoon trading.

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