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Energizer raises EPS for FY'18 despite a Q1 drop in net income YOY

U.S. battery manufacturer Energizer Holdings Inc. on Jan. 31 raised its EPS guidance for fiscal year 2018 despite a decline in its fiscal first-quarter profit on a year-over-year basis, the company said in its quarterly earnings release Jan. 31.

The company expects its EPS for the full fiscal year to be in the range of $3.30 to $3.40, compared to its previous guidance of $3.00 to $3.10 per share. Organic net sales are expected to increase in the low single digits compared to the previous year. The company said both updates factored in "significant hurricane activity" in fiscal 2018 that contributed about $26 million of net sales and 8 cents to adjusted EPS.

The manufacturer reported net earnings of $60.4 million, or 98 cents per diluted share, for its fiscal first quarter ended Dec. 31, 2017, compared to $95.6 million, or $1.52 per share, in the first quarter of the prior year. Adjusted net earnings were $95.5 million, or $1.55 per diluted share, slightly lower than the $95.1 million in adjusted net earnings, or $1.51 per diluted share, it reported in the same quarter a year ago.

It also reported net sales at $573.3 million for the quarter, an increase of 2.4% from the previous year's first quarter. In addition, it repurchased 1,126,000 common stock for $50 million.