Energizer Holdings, Inc. (ENR) has reported an 185.98 percent jump in profit for the quarter ended Mar. 31, 2017. The company has earned $46.90 million, or $0.75 a share in the quarter, compared with $16.40 million, or $0.26 a share for the same period last year. On the other hand, adjusted net income for the quarter stood at $31.40 million, or $0.50 a share compared with $18.50 million or $0.30 a share, a year ago. Revenue during the quarter grew 7.49 percent to $359 million from $334 million in the previous year period. Gross margin for the quarter expanded 437 basis points over the previous year period to 46.77 percent. Total expenses were 80.14 percent of quarterly revenues, down from 89.76 percent for the same period last year. This has led to an improvement of 962 basis points in operating margin to 19.86 percent.
Operating income for the quarter was $71.30 million, compared with $34.20 million in the previous year period.
"Our team delivered solid results in the second quarter continuing the momentum from the start of the year,” said Alan Hoskins, chief executive officer. "We continue to execute on our strategic priorities, including effective in-store fundamentals, which enabled us to offset the retailer inventory de-load and improve margin performance in the current quarter. In addition, the integration of our auto care business remains on track and all major initiatives will be completed by the end of the third quarter. "
For fiscal year 2017, Energizer Holdings, Inc. expects diluted earnings per share to be in the range of $2.95 to $3.10. The company expects diluted earnings per share to be in the range of $2.75 to $2.85 on adjusted basis.
Operating cash flow falls marginally
Energizer Holdings, Inc. has generated cash of $124.30 million from operating activities during the first half, down 3.12 percent or $4 million, when compared with the last year period. Cash flow from investing activities was $10.80 million for the first half as against cash outgo of $13.50 million in the last year period.
The company has spent $39.20 million cash to carry out financing activities during the first six months as against cash outgo of $52.30 million in the last year period.
Cash and cash equivalents stood at $372.20 million as on Mar. 31, 2017, down 35.42 percent or $204.10 million from $576.30 million on Mar. 31, 2016.
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