Energizer’s Q1 Sales Drop

Energizer Holdings’ first fiscal quarter (ended December 31, 2014) showed that net sales fell 6.8% (down 4.7% on an organic basis) to $1.038 billion.

“First quarter adjusted net earnings per diluted share were in-line with our expectations despite significant currency headwinds,” said Ward M. Klein, chief executive officer.  “We expect net sales trends to improve over the next six months as category performance has improved in Personal Care and Household Products gained share in the U.S. and globally.  Additionally, both segments will launch new, innovative products in our second fiscal quarter.”

Personal care segment net sales were $537.1 million, down 2.4% to according to Energizer, with organic net sales down 2.5% Personal care profit was $116.2 million, down 10.8%.  Excluding the impacts of currency movements and the incremental benefit from the feminine care brands acquisition, segment profit declined 6.7%
 
According to Energizer, incremental net sales and segment profit from its October 2013 feminine care brands acquisition totaled $21.4 million and $4.5 million, respectively, excluding acquisition/integration related costs Organic net sales in the first fiscal quarter decreased 2.5% due to lower volumes across feminine care, wet shave and infant care products, partially offset by improved price/mix in wet shave. 
 
Despite improved performance in many of its US personal care categories, we experienced share declines driven by increased levels of competition, according to Energizer, which is in the process of separating its household products and personal care segments into two independent, publicly traded companies.
 
That separation is expected to be complete by July 1.