ENR - Earnings call transcript Q4 2024 | Energizer Holdings, Inc.

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Operator

Good morning, ladies and gentlemen, and welcome to the Energizer Holdings Inc. Fourth Quarter and FY 2024 Results Conference Call. [Operator Instructions] This call is being recorded on Tuesday, November 19, 2024. I would now like to turn the conference over to Jon Poldan, Vice President, Treasurer and Investor Relations.

You may begin.

Jonathan Poldan

Good morning, and welcome to Energizer's Fourth Quarter and Fiscal 2024 Conference Call.

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

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

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

included in reports with could SEC. file that the actual the factors differ cause are materially to we Other statements results from these

in to we our Information our categories year measures includes and be comparable to noted, all to comparisons Mark. and fiscal believe same to data on issued and earlier Battery where would prior category regarding is presentation call in reasonable. The the the relate like financial information Energizer's share period to market measures. that, and based internal over today, comments turn all I from the our release analysis we this retail non-GAAP on categories sales. industry pertain to year both GAAP non-GAAP Energizer's of to estimates mortar and discussed fiscal call otherwise brick to e-commerce A Unless data, is the quarter XXXX. With year press and to website. also relates which We concerning on refer our reconciliation and measures estimated is compete in shown financial available

Mark LaVigne

a of hard us deal everyone, thanks great as the achieved in and we and dedication Good joining today. XXXX. teams paid off, Energizer morning, The for work

reducing cash second XXX organic flow sales line points. We our adjusted by half's by free margins Specifically, delivered down originally basis $XXX $XXX to we million, guided bolstered and we delivered of below gross within top paid leverage of Xx. debt, improved nearly range, net momentum. We million

expand on me Let these. each of

of coupled category strategic advancement in trends results. our First, line steadily growth our with back came improving top half through initiatives

to and we line As we are growth. positioned the bottom fiscal both top new year, well drive enter

gross continue improve. margins of in achieved Second, for adjusted full and We fiscal margins fourth earnings year. nearly and to quarter gross the XX.X% the XX%

We adjusted top exceeding also per end share of of earnings original outlook. generated $X.XX the our

Fiscal debt another flow a XX% XXXX year Third, the very reduction was year. of cash $XXX nearly free cash million with the $XX of million quarter in healthy. fiscal enabling in sales, net flow remains of and good another of total

the the the progress into X have carrying year a years, of we past over lot ahead. made momentum are we With

range expect will a of on growth. consistent $X.XX where to and touch in context across first, and the wanted adjusted in drive top more areas those Batteries For sales to to but $X.XX outlook, share. Jon fiscal to on provide to Auto X% organic the deliver XXXX, growth $XXX X% earnings of to the Care, million both adjusted range EBITDA we expect we $XXX I line bit per million,

distribution. First,

expand customer with of have we the XXXX. distribution Auto retailers not with is and and based Batteries expanding recent existing Care expanding This where are both we footprint do we decisions, the organization. expect are We in in have our strength also space currently the on And customers. distribution, we our to

e-commerce, and in growth we are key U.S. Second, in accelerating international our markets. both in the

in internal product categories. XX%, partnerships goal growth, roughly we XXXX, the XXXX and our external capabilities, have assortment fiscal even right ambitious. grew our and for by more invested is we fiscal outsized our To drive e-commerce During this expanded across enhanced

developing are presence our we markets. expanding in Third,

growth for we are growth to become As we believe we look the market and that investing GDP are healthy, leader. markets where population we XXXX, in can where

to We ahead. continue markets in drive the developing years to growth outsized expect

are our margin our drive improvement. with to In expanding we ongoing products, addition customers remaining while also footprint, our investing to to committed of velocity

expanded our that and to and have revenue This the pricing and insights our trade to leverages our our category effectiveness meaningful the of optimize teams maximize value management to most to capabilities that customers. promotions We data-driven group consumers of spend those emphasize for pricing. highlight maximize and are will

deter we the about about first X-in-X are market introduction talked the of play the when very the has activated reaction category. lithium innovation growth. been alert bitter demonstrates and new fast-growing with our ingestion role designed to taste and Batteries, excited coin in today Child which segment innovation secure is we positive a the Finally, color it contact comes will in with into to this have in In leadership very is world's and of recently packaging, consumer our technology, this Shield, which saliva. The

We further of form batteries the have invested in plastic-free packaging. in

and race This cleaning sold this the success products All market. XXXX. continue we significant the our combined the introduce American became next type at and and Series, our newest most executed Auto the Podium as us summary, of Armor nearly will to billion portfolio Oracle years, packaging. In Redbull the line, global of partnership. partnership over performance seen full Since racing's Armor category. evolution our Formula performance call, our air series the will on converted combined year the segment and plastic-free developed markets closed the a in a earnings recognition, X on include XX% on European last Armor will exciting of year. Energizer. In legacy global freshener our I then, and All for of are a our brand team expertise on innovation. our this of we Today, market expectations pleased with transitioned few excess out this delivered One in line fans. Oracle Podium and very have audience in business automotive in and and milestones with well makes tremendous proud racing Redbull care track to the be Oracle innovative engine partner Care, to global of product mentioned unparalleled an the fast-growing of with appearance We auto North platform with end have meaningful new the of product believe positions premium and the plan, All racing. capitalize ideal growth a products brands leading We of innovation, we achieved Redbull am official in us we XXXX, financial our which into enable in scaling to of TV

and driving flow. cash growing squarely class-leading earnings are free growth, As while generating we stable move into on XXXX, we focused

Let details me financial guidance. John performance about the and to call now to turn XXXX over provide fiscal additional our

John Drabik

benefits. offset will from transformation with and and XX.X%, in a a and and of driven digital update was a $XX partially savings. A&P to investment net promotional This in earnings Momentum growth our new per percent revenue points driven outlook These of on distribution organic increased XX.X% improved year. I results by savings due in investments. full quarter was initiatives. XXX These combined increase adjusted consistent Adjusted performance. We quarter. million increase by and lower adjusted $XXX.X Project points average and $X.X mainly commodity decreased million gross Momentum strong as up strong to for our EBITDA input trends benefits provide as before $X.X planned adjusted share the in basis rates. planned performance, million by and XX quarter. Thanks, an by by debt favorable margin in flow we cash delivered offset the quarter. increased sales outstanding Mark, an expense Fourth globally, long-term good and of costs. was category XXXX the strong year earnings the up turning sales investments. Adjusted Project pricing an travel Organic Project $XX savings total to percent million or margins, by sales gross depreciation, our of promotional operational of end $X.XX. savings, SG&A free and pricing impacted of the our and resulted morning, delivered were was increase expense an X.X%, offset partially fourth interest of wages partially of Interest quarter in with in basis Momentum and the positively slightly expectations excess everyone. lower delivered with and were to for Combined million almost higher

We down also generated and $XXX.X of flow of or XX.X% million cash in quarter sales free $XX debt. million the in paid

Adjusted Momentum sales lower grew original million was flow share XX.X%, declined sales fourth benefited organic X.X% spending. by gains cash grew Auto increased For earnings holiday X.X% year to million in from $XXX.X driven the sales adjusted our quarter $XXX offset by EBITDA savings partially $X.XX. Free planned sales. year, Battery partially gross organic Adjusted or and pricing down and and were with organic X.X%, headwinds mainly savings. almost pricing XXXX driven ratio million up improved net declined We and costs These with trends. In of of the more promotional and orders, which commodity Project net basis planned Project deployed than X.X%, of net spend. of planned the for per And promotional and as generated to Lights a for XXX offset guide. $XXX timing debt distribution XXXX cash Momentum year, flow of pay to the this fiscal distribution and margin XX.X% by X.Xx. line offset ended to of points Care, leverage category $XX spend. was and by X.X%, promotional gains, full million the

and organic we X%, and Looking of as in the Battery generate driven Care across stated, expect our launches forward Auto top fiscal businesses. distribution XXXX, new to by Mark as product well both as line X% expanded to to range growth

We XX% expect which year. points, the put gross above full for basis of roughly will us XX margin expansion

$XXX successful million the million $XX year to we be of range the $XXX final for be between million in Project our allowing $XX year-over-year. Through million growth EBITDA solid on Momentum program growth earnings margin and XXXX growth year, next million. improvement million expect the dollar Momentum $X.XX. Project ahead. years between in $XX has testament to of for resulting of for Momentum, line in up us and we initiatives, range $X.XX Project are intend of ability in savings, in $XX the to project savings per We and the company, and of to drive for be adjusted a to expect top these million total to and included and our earnings $XXX again gross SG&A to organization's the outlook. We to and tremendously are program outlook been $XXX results a our This basis adjusted invest between the savings productivity, an in share million

interest operations, reduced across expect of We expense enablement project million to generate on between in momentum packaging to XX% additional well We investments, I $XXX as debt to $XX to by onetime million of costs. Due quarter. $XXX and free our X% the million XXXX, million plastic-free in pay expenditures like million, million. driven to would some of also expectations and to for of between cash $XX sales. capital flow expect as be down the these roughly of investments we in and $X range resulting digital color $XX incremental to provide first

expect sales between X% X%. be organic We up net to and

be sharp organic the solid hurricanes, category a incremental U.S. rallying XX tailwinds continued X% year. to margins of the reported drove strong and demand basis which of of our Net, quarter. Adjusted of start a to beginning dollar, points. our from million gross we the benefited are currency to these providing to XXX basket the exposures addition X% named $XX related is revenue start X up has growth, anticipate to up the approximately foreign to been to for be sales, year. Slightly quarter In largest between expected appreciation which offsetting versus the

of per capital priorities. up range allocation earnings and color versus $X.XX structure first $X.XX, lastly, share expect on capital to like I would digits year mid-single adjusted the We and our the in prior midpoint. And quarter at some the provide

free and a Over our organization the the of to on consistent gross recovery cash heavily return years, flow margins been generation. last has focused X

$XXX margins with line debt and in We outstanding by million utilize fiscal XX%. gross of able roughly been with total performance strong are free almost debt have flows our roughly to cash to reducing down XXXX ending pre-pandemic pay

to our this paydown #X holders, focus value will projected from on We we priority with debt as now a to return shareholders. I meaningful ahead, believe call remarks. offers for of to growth closing our over and for compelling allocation. Looking debt dividend, capital continued like back transition equity Mark proposition our to for the earnings turn combined would continue

Mark LaVigne

John. Thanks,

that proof further are XXXX our in strategies results are Our working.

in a consistent We cash ability objectives. our enter continued in have enabling financial foundation am confident to position meaningfully strengthened and class-leading and financial We growth and I of our growth XXXX strength, our in position, algorithm, by operating long-term deliver investment anchored flow. free our

open questions. let's Now call for the

Operator

first line And Instructions] of from Lieberman question Lauren [Operator with your comes the Barclays.

Lauren Lieberman

I term because bit a was little talk to gross business, getting of and you the structural Momentum. with accomplishment of called We've trajectory work underlying about of sort out made could a the if we all curious the long levels. margin changes pre-pandemic back to lot

it, maybe the think about margin we of how if we're as over should next, to let's new So X we kind talking about benchmark look call out X level? trajectory like, a gross years, and

John Drabik

Sure.

basis go there. to back that next we XX-plus Momentum I XX programs calling at more gotten started we've teed where lean in then is about year points continue year. to that we'll and XXXX number get to So we'll got work growth, a back pre-pandemic, the points algorithmic every for if a done of lot in more We're probably up to basis We've think which of beyond into. we've

year. good got year a to to that to back that think after we'll I more algorithmic get continue I pipeline level. But think So growth we've drive

Lauren Lieberman

potential global we tariff that's of if And do was as broadly. U.S.? a Great. the risks sold could bit about bit you chain think talk another. little squeeze just Okay. in impacts, if you I about Just in tariff can product a produce where little about cans, steel I the the set supply curious

John Drabik

Sure. good with to exposure which about of helped in leaned market That's that for really into market Momentum some has one Project well as we've production, thing minimize that tariffs.

that, look things to evaluate we continue of over So next the got at as starting to we're months. -- we'll couple progress

to X% to goods global sourcing. stand subject cost U.S. China dollars as are less than due of today, of But we our sold tariffs

really think going into we next minimized So that pretty exposure good pretty well, year. that we've and feel

Operator

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

William Chappell

Just category? and place talk the a at the little maybe level think the category going from of more and bit you're seeing we're whole a you next I pricing both over on, Battery year guess, you why forward and the better

Mark LaVigne

category had to think lot product has you demand within I be a No, -- I the certainly consumers. through very a Battery of to mean peaks need-based went proven It's category. for the and resilient and X last stability with really a volume the of years achieved surges recovery we over valleys the in element the a then X pricing. And and a COVID category. We

that look So of 'XX, as at in X% be trajectory and you expect expecting the would new baseline. growth we're we the to category, kind that

in trends. U.S. You and healthy volume seeing very are globally the

X% standpoint. You're seeing the volume in X% of mid-single-digit to kind a volume from

international promotion that driving elevated that the slightly the markets in the is demand and you're both certain would seeing category you expect. So in U.S.

increased with demand. was growth the one we've slightly to promotion, see you'll pricing and time, keep and then we're in over It's I the to line invest the category with 'XX. to think consumers more continue that in think value I drive another. working, engaged expecting in volume taken, and trend But continued

William Chappell

Got distribution it. comment to And follow your just on on up gains.

you of meant upcoming And reset were that space kind sets help is like that shelf think talking is? quarter you gains? North Is understand maybe about I could more this the where that us for holiday spring or America.

Mark LaVigne

It's global.

gains distribution do the around distribution have have do we in the gains U.S. So world. We

expanded retailers. see to some certain going are You space in

in second us sort going of are year. half see up of You new in to pop the retailers the

throughout and markets. the a year, but international in throughout in So both be U.S. will sprinkled for it's be net positive the it us going in 'XX, to fiscal

William Chappell

it's So weighted, it's full year? not holiday

Mark LaVigne

weighted. It is full distribution

Operator

of the Rob line from comes question Evercore. with Ottenstein next Your

Robert Ottenstein

heard in you number? expect to -- think e-commerce right that do said was more that you and Is grew you I I that XXXX, 'XX. XX% than in the that

Mark LaVigne

That's correct.

Robert Ottenstein

Great.

So not may leverage does channel or how of then sense as that give given a e-commerce may overall a can channel the And you? of how brick-and-mortar it you some is you there, retail us with retailers? for your give strategy? large success your more change And

Mark LaVigne

question. we can answering Robert, it's me into your then if see that, Let dig and

I that think XX% within U.S., north range. Battery say what at you're you I the of if of size look the in category in is would e-commerce probably

it's high. not -- maybe mid-XXs, think peak that I maybe can it

I So think, that's roughly, size.

sites of behind as both And put well are years. it resources It area behind it, resources online omnichannel retailers. that as number that financial a includes Amazon a that of other for we've investing We've sites for lot been from gate. a been an has in people

product have have We We're we for making externally. strategy the sure right partnerships online. the right

'XX. for grow in did to a So that in XX% than do excellence grow 'XX. it's us. We becoming of expect more We meaningfully center

it's of all for a that us. from nice emphasis a for for going What partner Robert, better online tailwind the does, all can we retailers. be And it to of certainly, So area partner the around. that I be better growth an better emphasis is will provide our just an of at mean, a rate channel, area for us makes brick-and-mortar navigating retailers. It's pure-play standpoint this retailers.

Robert Ottenstein

what you're underscores going thoughts And confidence? what you grow to us some meaningfully that. you on said greater -- give than that Can

Mark LaVigne

rate we Well, year. next I that didn't disappointed would double if be growth

Robert Ottenstein

accelerate? that's get I'm or of on just online to to more because promotions a spending going trying why And be investment sense it you're should

Mark LaVigne

of will the accelerate we've because it Well, Project been able Momentum. to of investments make because

flexibility growth a to Momentum, emphasis of hard generation for has of So back, is us We flow was gross in those done the work better took allowed out place. point What if got invest cash Momentum. you areas. that we free a Project in remember, step pays it of we reinstilled all margins in That that.

Momentum content, resources, spending, investment product investment, and some seen you've off all of the been John of into paying back that terms in to assortment terms in growth that those of digital people redeploy of we've rate in digital 'XX outlook resources, and savings of from are forward. provided able So which financial going

Robert Ottenstein

e-commerce just it Great. is is channel accretive And that or detriment? or for margin then you neutral this finally, profitability point, at a

Mark LaVigne

agnostic obviously, you'd brick-and-mortar there get profitability. on I into some neutral product-specific we're in a where of areas areas I think margin-dilutive, where terms have be to that say, in of Robert, would some more would it margin-accretive, on But be overall, terms overall it's would but very But it basis. be online. balance, we'd there's

Operator

Your line Grom Peter next of comes question with UBS. the from

Peter Grom

more was color top slower start line the you're Is half. the to on opposite start something back where just the or I of some seeing in phasing. I comparison apologize CPG that Strong if And it's I most less assuming this, trends get looking kind to a interesting, or companies are year. stronger So been just but have simply quarter-to-date thing and there stronger? the growth is the missed

maybe you just in you're then should anything organic including And standpoint? can a from as of sales distribution and gains of the unpack what segment volume, just aware we within price expecting outlook, as terms be well

John Drabik

Peter, as pretty beginning start us. quarter-to-quarter, see first on at projecting we're to stable have year, did the in growth we're full now. the so we of benefit looking for as October of the hurricanes point, the it We right

drive incremental going top points XXX sales, was that line and million XXX $XX to to basis of So growth. of that's

kind So kick also got X% starting the underlying we've we've that's we but within to when it. of got say growth that categories, X%, good

quarters, in to to kind call X% more then the of expect still like and full third that we growth throughout X% it's second, see fourth for We year. the

if And the of last apologize, missed part was... I kind your of question, it I

Peter Grom

just anything the Just model? year we you're of much And from like you the then terms unpack be about should how anything aware think versus anticipating are maybe when just we what think of as in of volume about Care distribution Auto we Batteries kind gains? Yes, No. embedding our

John Drabik

Yes.

this points. a a consolidated XXX on than looking offsetting basis probably XXX, volumes bit were to I'd So about little that say basis, at that XXX basis to X. talking more X the pretty get looking at XXX drive It's and between by points, really some and pricing to is We're about. to you consistent Battery solid Battery was distribution to that that year growth going going through Mark we're Auto. both gets

second that We Auto, got to a launch amount with you've fair in about really behind good it. series launch. then And we're the of feel going the quarter Podium investment that

throughout in So expect we of growth both the as year. the see to good go segments we

Operator

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

Andrea Teixeira

points. hoping the -- from headwind assuming have on Is pricing Project in up question reinvest you're something definitely, made you're just of mean and some back Momentum. promo? I some the following commentary of a on innovation just was a you Peter's basis to of you I going bit mentioned back to to investing that ammunition XXX

combination a about you then how pricing the of if thinking and also investments explain just So back? can

margin. a the quick did I EBITDA math on implied

have for margins fiscal So obviously, 'XX. you expanding

to to So investments mostly through, pricing as think I just I marketing and would but expect how about price thinking was in that to about think how be go flowing mix? and we

line And question. got can top year? organic FX growth the -- I obviously, we growth, FX FX? other in for for the the are guidance you quarter the, hoping squeeze your What impact see just implied of if against full the we to what expect embedding for should but I first from X

Mark LaVigne

talk I do want then to you cover John, the... first, FX

John Drabik

Yes.

pretty Last has the dollar Andrea. stable. the currency of was November. entered right, really weeks, you're couple year, We So throughout strengthened

first covered. we of basis a some an out kind assumed to full called headwinds as EPS $X.XX the top line about about to embedded had outlook. we're be believe that XXX And our We that still what We we're in $X.XX points. to quarter, of drag of 'XX XXX in So drag. That's expecting viewing guide. currency we're

update the year better and things I we we'll give first on full through of outlook. where think FX as kind go the settle, quarter see a

Mark LaVigne

talk the year. pricing for basis from roughly points did XXX Andrea, we your headwind question, of about on pricing

-- historically. I have a still but the environment end the at they what they're are weeks the in would at what As it you below latest say, the XX below in elevated seen promotional year promotions would were you U.S., the from of September, ago, look seeing you're

taken the them temporary are that think been consumers our a to the continuing engage price to back be promotions. over and points them work X to that's years. We -- to symptom pricing up work to the competitors X higher continues last -- of to and or I invest

You're in not rollbacks pricing seeing degree. any

seeing promotions. elevated are you investment So seeing We're in that.

ago. going trend the It necessarily wouldn't to way just symptom say have with that's I a a the continue the that's because think fallen year planning that was going. the holidays is below I timing that's a way and of

are So in I think time smart to this investments make those period.

And as John alluded from to, we have little volumes that of are bit positive with headwind a pricing.

that I to balance volume. of think way between we're those explore to activity what's finding right growth to continue promotional and both dynamics, right the we'll drive toggle in

John Drabik

I'd on side, advertising The the investment a year only at is little over thing looking next X%. we're add

So what we've done consistent with historically.

Operator

next JPMorgan. question Carla of with the Casella Your line from comes

Carla Casella

on commented was? us exactly You the remind what timing just shift. kind holiday of the amount you and Can that shift

John Drabik

year. Yes. Well, it so explaining last this 'XX, have was shift would been

so, think, comping -- it. was no So significant 'XX. went [indiscernible] this XX I points impact. There or not probably just fiscal we're that There's basis we're year, into back

Carla Casella

Okay. Great.

just the this year difficult. more little compare a So made

the -- asking support change for just Okay. marketing retailers gain are terms you spend? or in of you spend wondering then I'm behind And shelf additional seeing any in as you as space, are trade on either brands

Mark LaVigne

Yes.

tailor to the shopper. our particular our sure I think work we retailers programs their needs with for meet individual to make we

going specific them invest have make business doing but we own and are So I would are retailer business, of they appropriately. they where is and approaches, each their that doing it's change or sure not we're we say to how meet terms a in

Carla Casella

it Okay. there marketing I and more on guess going where I wondering, in industry like trade between an another spend is was or general? shift anything

Mark LaVigne

no. meaningful, Nothing

Operator

next McNamara Genuity. your from comes line Canaccord Brian question And of the with

Brian McNamara

was first, could car been are of sales, to elusive, which has you appearance. guess, Auto hoping I on recent the especially significant exposure memory, there used business in new growth depressed to and is Organic touch relative Care. I kind but

today, margins had when was Profitability, recovery in low we versus there. high-teens. and business nice XXs acquired, roughly stayed I EBITDA the call hard it, you've a believe

what business that So basis? on XXXX should expect from a in and investors longer-term

Mark LaVigne

X% Auto have really solid Care. Care. to over We're I X% think Auto we to going had in 'XX. grew in a year in X% We growth

internationally. that expand business to continue We

have with with presence continuing a online We're in direction. fantastic launch here have our online We Auto driving incremental teams expand with Armor our going and Care to All series XXXX. in growth platform that Podium we forward that with

on top Project margins of and improved Momentum -- think with it, of been meaningfully the years we've over gross couple last I site. So

think we is I the and prospects great with to feel sitting margins Care ability where the improve forward. Auto to growth continue going today,

Brian McNamara

And mean, with we for that many the remains leverage way to despite right half point is think progress, reduction key that a still leverage sticking Great. yet I turn secondly, that stock, then the is speak annually the investors be are about to involved in in it?

John Drabik

million years. of Yes, We've paid XXXX. We that's X-plus last what down paydown million we're $XXX the $XXX almost still over targeting. talked to about million in $XXX

really we're So making good progress.

Operator

from Reuter next line the Your of America. question with Instructions] William [Operator Bank of comes

William Reuter

I just have X.

little, zinc terms have first, 'XX, input I steel down. outlook your a moved of The costs for prices year for guess, in fiscal still is up

is kind cost change basket? any a As meaningful whole, of in your there

John Drabik

Yes.

specifically, product side, said, buy gas for some the material positive it's some the from zinc, we're into the in on And we 'XX. of some offsets going we've refrigerant headwinds think and lithium, is like got nickel, copper, you coming of silicone but are slightly I a thinking some the headwind, corrugated business.

year. slightly So into next positive net-net, going

William Reuter

And consistent then flow for debt pretty stayed use cash has it. around free your deleveraging reduction here. Got of and commentary

more are What shareholder-friendly? change to flow to value would be towards what shareholders. You start that would something cash or towards free you transferring about either have the would looking M&A targets talked for allocate you or where

John Drabik

like paying -- you going continue to we're think down I debt. #X is said, priority

up So balance sheet. the we'll shore continue to

keep think I to we for the our just flexibility. think down, like was We're more that progress we to said, Xx, continue create turn that down, target a we year, to got half below year. making I try drive the which will as a to going go and

know to don't those better we So those. targets, consider but into a continue that some for we'll we options can towards position, of get good progress I as allocation. make other such we have capital

Operator

time. questions for And the Mark to no turn I'm would further like LaVigne this I over remarks. showing closing to at call

Mark LaVigne

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

Operator

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

now may disconnect. You

Energizer (ENR) 19 Nov 242024 Q4 Earnings call transcript