Energizer Holdings Inc. (ENR) saw a significant plummet of 5.84% in its stock price during Tuesday's intraday trading session, as the company's second-quarter profit outlook failed to meet analyst expectations, overshadowing its better-than-expected first-quarter results.
The St. Louis-based battery and personal care products company reported a fiscal first-quarter net income of $22.3 million, or 30 cents per share, a substantial increase from $1.9 million or 3 cents per share in the same period last year. Excluding one-time items, Energizer's adjusted earnings of 67 cents per share surpassed analysts' estimates of 65 cents.
The company's strong first-quarter performance was driven by hurricane-fueled demand, which generated approximately $10 million in incremental volume. Total sales rose to $731.7 million, exceeding analysts' expectations of $728.5 million.
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