ENR - Earnings call transcript Q2 2024 | Energizer Holdings, Inc.

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Operator

Good morning. My name is Ludy, and I'll be your conference operator today. At this time, I would like to welcome everyone to Energizer's Second Quarter Fiscal Year 2024 Conference Call. [Operator Instructions] As a reminder, this call is being recorded.

I would now like to turn the conference over to John Poldan, Vice President, Treasurer and Investor Relations.

conference. your begin may You

Jonathan Poldan

Good morning, Conference Quarter XXXX Energizer's welcome to Call. Second Fiscal and

today President website, Chief Joining Officer; Mark Relations will are me LaVigne, the on Drabik, replay this Investor Vice be A available and of and Executive President Officer. and our Financial section of call energizerholdings.com. John Executive Chief

the posted on also In slide providing deck is addition, detailed website. quarter a financial results for our

results among risks business to from are other SEC. will we forward-looking about included and Other We make based financial future statements. factors management's not actual are differ performance, which that file These in During could reports expectations these undertake statements the we results statements. with call, cause on materially do to matters. cause the statements are the and statements and company's update differ forward-looking may current from subject materially these uncertainties, actual these to to

categories to presentation our compete internal our to A is also press where We in relates is financial earlier categories to non-GAAP release to shown financial available measures. of issued reconciliation on website. today, our GAAP and as we estimates Information reasonable. our this be share measures which industry refer comparable estimated the on concerning discussed Energizer's analysis from data, call believe data based and measures and on to market non-GAAP we

retail noted, period year sales. The prior and battery comments fiscal otherwise the comparisons year e-commerce to the includes to same Unless year all and information relate pertain quarter fiscal XXXX. Energizer's category brick-and-mortar both regarding all in and to

over would to I like the that, to Mark. call With turn

Mark LaVigne

our earnings to call. quarter Good morning, and welcome second

debt we on cash are excited year: start progress on margin free with pleased We as flow quarter, second improvement, again and discuss ahead. that once our QX. moment in even are the paydown. priorities to what's a great solid we generation on More made While will more a to report we for

the priorities top category our with over continued we Xx performance recovery against by in quarter. growth $XX back drove Our battery down which, us deliver our quarter top along in improvement to has and the as will growth year. the the line has significant reduced in be gross earnings half the leverage, expect cash year-to-date strong margin, initiatives, these another help debt in pay auto to of year-end free adjusted Strong which fueled and growth in our line million of which from below flow generation benefited enabled in . XX%

current organic quarter starting down decline of the the businesses The was trends from improving primarily batteries. in gains. dynamics state by driven the with and review prior with distribution improving category Battery expectations the Let's were our roughly net consistent with quarter. sales X%

growth Global category. the data. battery the latest both value at Looking X-month showed in and volume

increased Importantly, the period. where significant represents category a latest U.S. improvement global volume from period. in nearly X.X% comparable the year, grew battery volume prior was This down X.X% volume X.X% weeks. during XX the in that

and online. channels the we measured are to seeing trends addition In in healthy

softness, in seen nontracked in began of have lap the also We as improving we year. trends channels last spring which

ongoing margin discipline demand as categories Private the drive private is have strength we brands, gross our value share U.S. quarter. share our engage have our consumer growing and with we Consumers share Within value each selecting declines will gain And prudent U.S., globally Our in we performance margins. label the a overall the while consumers the the we in battery remains battery in while in to to within continue across category and business, have last driving X improvement. maintained quarters. in pricing in That P&L seen approach with label many a are we drive promotion the label reestablished ensuring volume the of that quarter. future strong. and declined leverage value private growth improving

As brands confidence improved of returning the we in a look ahead, environment year. our our and the strength margins, in our in reinforce pricing to stable growth the the back category inflection volume, half of

Turning to quarter. quarter. net over Auto the spot Organic organic following sales is Care, which bright increased prior in another year X% in X% a the increase

with basis a working. year-over-year. organically Our nearly points. are Exciting segment particularly investment are innovation quarter, to appearance X% driving business increasing improved and the second much business making profit investments by nearly performance. we connect had XXX strong consumers The are increased In quarter, expanded

back business Auto further Care expect improvement and We going returned forward. have to pre-pandemic profitability the

program in in encouraging, now P&L. date restore health months our time. ambitious uncovered exceeded invest to Momentum. of savings quarter. total at line been have execution in the in goals of $XXX and for million particularly profitability And expansion future with both returning year factor day-to-day Even far, earnings this million as growth pre-pandemic the into it also you of taking serving launched made key to have providing the opportunities and nearly thus the we take more to margin Project next Momentum ongoing XX the outstanding improvement a us The ago levels flexibility over set The growth. additional categories sight for by savings our has we Project We the being of for program to on savings. We quarter, $XX the the when in has generated account progress teams

top we debt flow have tirelessly adjusted this all of The reach generation margin year-over-year to the of continued remaining range. organization QX to expected quarter, while poised has we inflection business and at the midpoint growth with free expect our earnings focused on growth, expansion for and reduction. combined point, margin worked improvement, increase benefits and the further XX% next line to Beginning see cash

our in the much Momentum been what and have best, across of the build presentations has our gains reenergize Project around work innovation, we the brands at the in do distribution working world. past, categories drive While forefront to been around our we of invest

fiscal even you see of And they start we year, of will approach effort. the additive. balance should 'XX, as more to FY that the the Over results become

down around let confidence, the of context break me this some focus. provide To areas

have First, investments markets times and in other investments significant landscape past. our but in we organizational ensure of only current in in capture after the the each made the financial many opportunities, the and we assessing discussed available our us to additional world. in capabilities have e-commerce the around U.S. not we categories, to many growth And

we to have management and capture read in in strategic to opportunities allow pricing analytics risk react investments transformation mitigate digital them and and improved data teams, way dynamic provide our our the mix which Second, revenue more in management to much and made pricing. and a

of visibility this and improved we across drive and Third, growth top back we will international brands major distribution that believe markets. of have the Fourth, attractive market beyond. in year strategic expansion markets in our line opportunities half

our step both may invest introduce strongest and allow and gather to years. now which products which made and markets certain next have growth warrant which into and is the the exciting consumers in we our us anyone to the and opportunities These had The products than in we business Ultimately, in we in restoring to have tremendous opportunities further back are of have able improved we deliver possible of new us cycle some be second investing new growth allow investment. our the going to year to significant leveraging excited for Care forward. to pipeline to growth been market let's pipeline and balance John over the turn take group, many needs else. and and by batteries subscale [indiscernible] in customer made it over better many in consumer innovation work several innovation set identify margins a meet the to partnership outlook. Auto about the insights progress years to By and finally, initially faster. talk in stage the details to fifth and Having what's accelerate the markets, and provide distributor we are And around been a quarter ahead,

John Drabik

an good and of 'XX. Thanks, morning, expectations QX update Mark, some I detailed summary and our color of Momentum Project additional more on for rest a fiscal and provide the for the will quarter, everyone.

as quarter first improvement revenue by year Volume primarily in on strategic our the contributed XXX well decreased million, basis investments $X.X interest focus X% investment strategic of of offset as of planned by average improved and $XX debt planned on driven offset decline promotional behind of rates. on savings X.X% continue For of million savings. lower year-over-year, X.X%, investments. lower reducing with Momentum costs, organic growth and Adjusted as freight. were higher X%. driven gains of including period partially X.X%, the Project to approximately was provided the pricing to we an prior brands. increasing Momentum decreased X.X%. were the focus a X.X%. X% with promotional organic consistent between . These average and our our and our down quarter, line input up SG&A million $X.X margin net outstanding commodities benefits gross call Interest pricing sales pricing XX.X%, with by offset and from as distribution by and percentage sales, Project in A&P expense The ocean by outlook organic down points increased were Adjusted results to

earnings along over year, with resulted adjusted Our in $X.XX recovery strong and Auto performances earnings $XXX.X adjusted a last in and adjusted share per in year-over-year. increase of operational XX% Care, EBITDA and both million representing Battery significant the margin

net the algorithm generated free long-term cash of XX.X% 'XX, fiscal within X sales. months between flow XX% of million of or is and This Throughout XX%. $XXX our first of have we

debt first has cash free pay million the X down strong $XXX Our of us quarters. allowed flow generation to during

reduced previous paid also during nearly that in debt have off by our million quarters time. $XXX leverage X of and turn a the We

is and Our no until average maturities remains with in a fixed structure shape meaningful debt debt weighted X.X% which XXXX. cost XX% of great capital around of with

efficiencies Momentum his As benefits and driver be significant our comments, Mark in continues a organization. for of to Project noted

of $XXX to million. million last As we between expect and announced savings X-year the $XXX we program quarter, drive

the to savings $XX the This of program we saw start savings quarter, million. approximately generated $XX taking of million total since

would additional year. of some I to color provide Lastly, QX and the rest for like the

basis per the to the gross margin approximately QX, at in with quarter earnings anticipate improve to XXX share the $X.XX, year-over-year, net up X%. roughly $X.XX by and expect be we on adjusted return For range We XX% to midpoint. sales top up in organic to of growth to points the line

to million. we For $XX the full expect fiscal of $XX million savings Project continue to Momentum year,

We Xx expect leverage. debt 'XX $XXX fiscal to net and below down end $XXX pay and million to between million of

of margin We in EBITDA $X.XX adjusted to $XXX our the are low Adjusted share flat million sales to to down adjusted gross be of improvement basis of range digits. single reaffirming million points, $X.XX. XXX net earnings for to outlook organic and over per $XXX

will With turn for to I that, remarks. Mark closing it over

Mark LaVigne

for Thank and to forward credit. summarize, us lot organization this a which With the open started a you, Having that very restore To long-term investments incredible enable let's John. we quarters to in call with the margins for invest deserves those growth. the plan, look on of We're questions. effort delivering return an reached that, to ahead. point, delivering

Operator

[Operator Instructions] Robert Evercore. And Ottenstein line from your first comes from the of question

Robert Ottenstein

the this confidence driving in into Congratulations on quarter and I in wondering progress. perspective impacts give returning optimism maybe the us growth? put you could how on the the the half? What's was the year. of that on second to bit your Certainly little of quarter? if And of third a more your of the and role half details promos, lot just of kind hearing into both second a visibility QX terms

Mark LaVigne

We started been organization, working chain. the We are then Momentum, really to years, and Robert, very the way the allows free now to and We've for margins really and it -- over We're with done invest well. color I'll discipline the in and for and attacked which can assistance that with with about restoring issues stability restore in kick move successful has the the generation. growth. some couple right the in capital We've year. cash flow long-term mind. view us John last supply we of this Project positive where optimistic then a of provide as off we've

sort allows to well environment our of it way flexibility external and is. with through we're it. that the Having deal to I is manage external us positioned what environment. mean the

the going in for us visibility organization the forward. really look the to all we areas forward. growth, trends to channels. seeing trends expecting some improving highlighted well home areas that category to reinforce some source distribution designed to growth areas E-commerce that visibility international year we the and highlighted we underlying We're low would and turning expect those distribution the to. around page the terms in growth gains going So growth it U.S. in the in broad-based The as half in we great in of remarks confidence But of is are And prepared which of of back remarks the as center that be distribution. be and to feels provide prepared and We're of gains The going single-digit nontracked that continues algorithmic in for healthy. stability pretty you a forward.

and mix Pricing to discipline sophisticated is an drive we organization, the us in growth. increasingly management have allowing

really then about expansion this going we're to allow because that of it where year drive margins expand to growth the next. the and some drive by continue us way. to and right growth we're allows to along in opportunities, multiple excited will You choiceful market, also It allows to both us be that the to really have to innovation levers we're way. us Having pull market bringing

positioned So forward, we're half 'XX. I the really going heading of year as I Anything we're in terms think the there, of into well Robert? and confident well in missed as back

Robert Ottenstein

that if just of the around bit the half I how just you both promos, in the your in second may great. was the quarter that's a wondering thoughts talk little out year? No, play about could and

Mark LaVigne

environment. say slightly pricing last I You we're the a are the occurred problematic. It promotional of expected that's over in, given one that elevated couple we anything macro seeing that wouldn't environment years. it's was given the

But U.S. on environment. volume X balance in real would growth It's pricing is stable promotion the depth well internationally both pre-pandemic up bit. environment, up driving promotional frequency The is a as the slightly. in category, with ago. a consistent of overall, have healthy seen little The seeing a the years as what an You're is you

unhealthy an from environment. troubling overly nothing So promotional

John Drabik

Yes.

of at the levels second For year, kind looking I of what the and the pricing quarter. half with back think promotional consistent we're in saw we

of some half. organic So back we're line about kind ending of still seeing, with up offsetting the rate top that but a X% volume growth

Operator

question comes line Barclays. next Lieberman the Your from from of Lauren

Lauren Lieberman

want Just say Care. little a bit to Auto

now it's you division margins about the pre-COVID talked fiscal in getting there. think you're York, back posted launch guys the to you New and I in 'XX

just element to us specifics that maintain is then to wise to just It'd or my curious, -- we of? color of but So hear great just and build kind love on sequentially, just color. that follow-up the from and have here the also the can of a growth and guys distribution guess, tell a in of of little sort the And more macro by just short preempt also, watermark anything ask the of wins. aware can just kind this strategy I the timing you be about sort about what on [indiscernible] environment, bit get term, I'll auto high I'd distribution be had, more you gains. some of we're

John Drabik

nice by really work know and a were of a lot have we recovering testament 'XX, the working that there we said quarter business. to did to I job that was we get a Lauren, done. hard Yes, this margins in people

get pricing. were system. points we So the out That to to timing. input profit cost. It's the segment XXX It's wasn't in up able the hold quarter. taken It's really of cost continuing basis

us So gotten rate. run to I good say would has a that

as next. of the go we that rest continue to expect year and this into We forward throughout

Mark LaVigne

to well on the bought been distribution the opportunities, received. it our innovations provide mature a expanding Lauren, we've at know, set some when time, And of you but distribution distribution being distribution fairly the incremental we business, was that as gains, able

this club, partnerships home well years had year We've are in being not necessarily as continue. of center received. those It's unique in as past. which wins Some to well our

we side, international the expand X.X% in business. On that year-to-date, continue And up we're to that business. international

happening things great on the Auto as of as lot the a well with top So in margins. Care line

Operator

next Truist the from Securities. line your And question of from Bill Chappell comes

William Chappell

on talked are detail what and But the seems little to is you understand, a Maybe starting was post-COVID like around Is share? label Batteries. on terms at about to first private normalizing I on lithium holding, you just trying on you're seeing recede. that Just gaining Just the are seeing. It of premium more more category seeing category what like consumer as the today. losing side? you in Rayovac? color looking they're of What the kind the think

Mark LaVigne

So Bill, volume on we're the battery seeing category growth globally, and globally. value

volume point. seeing growth U.S. an You're in well, as the data important

and the in so the share, seeing sign, to and that results talked all, You and promotion U.S., are John the great label declines pricing QX the U.S. both bit seeing in All growth in declines our we value seeing about a terms of related a the globally in value of little is QX positive volume volume globally. that expect. you're that's private

with Overall, roughly they've consistent So stable been. are shares shares are our stable. where

are a value U.S. lot trade latest disruption in Within of down. So reporting the not up points seeing the period. among you in Rayovac, It gains was X.X share

that within price catching So looking points. is demand playing is its lower that our portfolio and some role maybe of for brand

William Chappell

Got it. sorry. And side, then on I'm the lithium

Mark LaVigne

you're lithium, on are as into settling price points. lithium trends higher seeing And positive some consumers

in the I are. are think is optimistic lithium role more from And of you're the consumers to with bifurcation pricing to we lower-income maybe and in continue consumers think to I macro be category. sort as our environment that that freely a going one, than higher-income see cooperates spend settles play the consumers the middle continuing continuing some in, where of to

William Chappell

a on Auto I mean thought quarter kind type mid-summer appearances I said kind up but Got Care. strong, what mean us. is of segment it. you were appearance I And one was March then tell just follow-up the more of category. of

the that as we're going up up that to category was into look and for and else the business does X% key if the I was means the it lagged, how summer months? something overall setup -- assume So

Mark LaVigne

I in of on say, in strong good May had wouldn't off happens we're Appearance terms I start. too early June. a read take Bill, is We're a March much to off April, good We've would a And shipments. start. good to to a start. what off of and

because Some Chemicals to demand of Fragrance the tends in of down weather was off to bit. dynamics plays. innovation uneven that start. launched it terms the good little Performance Refrigerants just flat, be its a we've is is that a little a of

John Drabik

third -- to bit hitting expect now we our Yes. up And fourth bit a think quarter we call of quarter, quarter to auto, an third see the planned that the is to tidy in we impact and I just on little little the a consolidated. volume that line some top of

Operator

Your the line JPMorgan. next from from question Andrea of comes Teixeira

Andrea Teixeira

then be we back going the forward? will on reinvestment above organic be way seeing is outlook. We that It progress the go growth. pricing you're can, commodities should the question you as in you're how understand are be my should of is thinking negative. and should your and half, how to So my on you, also I benefiting we then we commodities margin on the commodity, XX% being about the that going other And of sales if normalize and to QX in as normalize second if I half favor QX from cadence, commodities implying the to still seems X% thinking can in gross slightly some going follow-up some we second potentially and that the but level. comment

and in make year. last takes we cadence to the given comps understand want sure Just puts that the

John Drabik

it's both And I would quarter. question back going costs. on on closer They're third kind X.X% and fourth little to a both it's to X% your then of X.X% X% Yes. to input positive. say to

positive we a of that where see costs was half input we're the us. continuing out this year, actually kind So while turned raw Andrea. And as for the finish back material of quarter the to in first

and So back have that and big RXXXa the the drivers been be that for expect in to half. would in zinc. us we of pretty all steel, lithium Those continue positive QX,

materials full basis gross to XXX to we're driver margin. be like year, expecting point So our positive

Andrea Teixeira

what we go do at look any trends as then you And those of futures see or to ahead, as expect? you shifting

John Drabik

we've between in inventory I'd to a think of our this good and of see We've back I pretty -- up, got what got sort of sorry. I'm fixed visibility that. half Well, variability, visibility don't visibility the lot on year

good So think in shape. no, I that's pretty

Operator

Dara next Mohsenian comes Your of from from the Morgan question line Stanley.

Dara Mohsenian

category constructive the like sequentially. more some just the On of Batteries, consumer you're And sensitive more economically sound cycle And tough the but seeing of those a there. you untracked some environment next your of bit look performing or here, some in quarters love theory, as the here? can a at the particularly as sounded detail also category just in necessarily and then untracked better those comps least like distribution couple at in both that channels on impact, on international channel I'd give detail shelf given touch few quarters Battery just you next fairly battery a channels? in It more are doesn't second, Can the on channels on gains performance itself. us over sounds space thoughts easier bit you in and you you U.S. the

Mark LaVigne

the the U.S., be in the year. really mean first, in Dara. continue a start wins back from will world, the broad-based, In you're markets I'll second in wins wins dollar. we've set of the half with one that distribution distribution some to around had seeing nice different I

and wins placement better You're This home in retailers. center It's planogram. seeing is it's in distribution. distribution, some the expanded new specialty

accomplish in half effect the first will to half So that the it's wins year. year, take this in been back really a we've of to able of of which variety different start the

In we terms the business distribution ubiquitous the -- is have. of our that of benefit

And so we channels. are all in

in consumers meet some they to time In whatever softness when shifting the You can there that see channels year to you shop choose seeing was are last started channel this untracked the mentioned, fortunately, in. channel and roughly consumers you be we center. in of to some home from

we work We comps are seeing our as way that bit the a continue year-over-year. moderate to through

business and see that's to of signs BXB forward. the We in going really OEM in life are encouraging seeing some

further have as played out of fiscal we we as improvement of in towards now, the So continue about and 'XX. get the expected, end we trends as

Operator

comes of line from the question from next Genuity. . Canaccord Your Brian McNamara

Brian McNamara

to be most your of Auto categories. from largely Batteries While restocking partners' some or retail across hesitation in for consumer Care. and And you're your to seeing we curious behind have retailers a in if how us categories, destocking any in behavior appears seen certain return growth in across pause changes impacts confidence that terms HX? I'm

Mark LaVigne

in on in would confident are the retailers something balance, either that categories recent direction I say and of We're seen confident quarters. out fit. occurred were of inventory terms we we levels an change where was from inventory how inventory from approaching discipline pandemic, investment in our The the a in coming standpoint. step haven't

we what the say would our retailers Auto is built With approach inventory season. in we've I that today it's Care, provided. into with guide the in and early So see

of a progress a So to does QX will in and lot the drive how activity on depend that's of replenishment QX. lot occur, going that and and does the offtake the season how

Brian McNamara

guidance to X would Got X point it. that HX And to results DV laid in if investors then either out, you the good regard? to from per bad surprises, point or what you materially you in could or

Mark LaVigne

QX guidance terms of half... the in the -- are or -- the half you second In go-forward second talking

Brian McNamara

guidance. implied HX

Mark LaVigne

exist and in we've think of I terms balanced balance that tried a the year. Look, to in opportunities risks the of take approach

nontrack in the to to continue. I think macro date. we've trends channels, to we've We've seen improving which environment see continue expected expected to

terms those in-store our We with control execute getting have are and which excellence. in those gains, of distribution under

I the think have, from from inventory cost we we're largely with levels that -- and locked. a standpoint,

Operator

of Your Barclays. Hale next Holden from from question the comes line

Hale Holden

It's is those could smaller you through was you of expansion. I if been a heard them? the guys down international since opportunity of some what bogged set sure and make markets you sort And about while talk in get I've wondering talk how in you don't

Mark LaVigne

think to Care Yes, a international Hale, deliberate strategic We a to when business acquired start Battery stack. And established for us Auto with the first that's we expand the -- pandemic great great that us that business took off we footprint business. business. we able to to impacted a with advantage the the backbone then enable been a using when that I have margins, was were

future we to aggressive that that in from margins we're so reaccelerated then forward. did. And in going pause business. That's expansion exactly And to what point order restore

variety restored margins now forward. have world. look a say of markets the ability going to the that We've back in to I invest We business. around And grow we would there's to

modern the Care of U.K. in a stronghold Australia in Some we muscle them can the some the have category then the drive Auto markets and to use so there's where well like we also the markets but distribution Battery that developing as as opportunities on business.

Hale Holden

also you And talked did battery miss I Or that? about expanding into markets? smaller

Mark LaVigne

us us the served those within an a is to us that don't of did world, we and which directly handful markets to are bit in we -- that that have lot want to to the additional But -- was part into it serving about better do and That markets we be opportunity which markets directly. would to an incubation markets insights for see real into opposed determine That XXX into around we drive understand to get we a ones serve can markets, distributors as we and Obviously, with. footprint markets a distributor. the a -- remarks, determine that there through we markets by which serve gives the of growth we have analyze and gain there's distributor and with roughly insight of able those be prepared talk if we in are. our And were markets of could market group learn a those globally.

will future So expansion market there going be and forward. growth

Operator

Stanley. Jana [ from of line comes from the question next Your Giannelli ] Morgan

Unknown Analyst

the thoughts have over on to see of the expect be on the longer-term maybe or appreciate year, continue and know want turn you I on the acceleration I a about structure all end refresh a on below by point maybe you update Xx bring still within of that. that balance some the right leverage leverage the done said debt the shifts year. down? to be that sheet. cadence I just guys If or want to we us And to guess color you work you outlook is as you time. X.X you target that where any

John Drabik

Yes.

time. So we're the fiscal get still below against debt what making below are targeting this of and Xx progress good we or probably half year end by to anticipating We're a over turn reduction. is the

I leverage keep to think We but leverage get continue a have that pushing down for per sense. se, think us, probably makes to more don't I from target Xx we'll here.

to I continue think far we're we'll As what balance. targeting, as

been focusing term we'll on how look decision loan versus best on just depending trading. have term and look We are those but at the economic at bonds loan,

Operator

your And of of William comes Bank from from the question last Reuter line America.

William Reuter

have very the few is I of Good growth. think where the devices is morning. using environment you we're Batteries? volume that to expansion first that this economic there getting I categories think are in Do like U.S. the number seeing doesn't It just -- of seem are the is better.

think the kind so years. about here So Gianna's ] is lot of expect restocking. you've to the [ guess leverage. reduction question on do And been in then bigger, of focused I on that following I last terms be several wouldn't what for you there debt strategy a of longer-term

of would it consider you maybe in debt be even reduction. strategic the though kind term, near options some Now might

Mark LaVigne

we'll reduction. I think continue debt focus on question, that last on to

below term, continue may decisions you and the can getting to -- or below objective then I below, of focus can down now, year. said, end and strategic to the the want But Xx fiscal up. is of Longer opens paying strategic this more getting to in for leverage we going forward terms the where John down X it levels on debt up to achieve As disproportionate allocation be by think capital effort of share be down that optionality create debt. going repurchase, acquisitions pop you the pay

of the terms In growth, again, positive. it's volume very

to way work a your had lot. You through

COVID the had You normalization period.

had pricing You then increases.

environment a really had the globally is volume encouraging. also and that U.S. pretty macro in You've seeing tough growth

the our of of Batteries, same have devices XX% people's have it, You -- installed devices between already a devices new in base call XX% between very percentage. and in roughly their house large the homes, people and take

installed that promotional consumers So with healthy reengaging is a we're in executing also category. are the Consumers that's category. It strategy engaged shows balance the from keeping base. the

the to to growth going You're continuing end able drive strategy we're we're the to drive going growth, to drive margin category, promotional because premium disproportionately sales and to forward, of migrate is see also working going we're volume the improvement. consumers

it's and that drive optimize the about really those doing we're successful that. all to that So Thus different right we've been calibration between far, results. trying in variables

Operator

I'd to concludes that to Mark And session. remarks. LaVigne for it Q&A our like turn closing back

Mark LaVigne

Energizer. us Hope joining rest for the everyone, and has a in your everyone of interest great day. Thanks, today

Operator

today's you, And gentlemen, conference ladies presenters. and participating. Thank call. concludes Thank this you for

You may now disconnect.

Energizer (ENR) 7 May 242024 Q2 Earnings call transcript