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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of Earliest Event Reported): February 6, 2024
_____________________________________________________________________________________
enrlogoa42.jpg
Energizer Holdings, Inc.
(Exact Name of Registrant as Specified in its Charter)
Missouri
1-36837
36-4802442
(State or other jurisdiction of
incorporation)
(Commission
File Number)
(IRS Employer
Identification Number)
533 Maryville University Drive
St. Louis, Missouri 63141
(Address of principal executive offices)
Registrant’s telephone number, including area code: (314) 985-2000
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
☐    Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐    Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐    Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐    Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading Symbol(s)Name of each exchange on which registered
Common Stock, par value $.01 per shareENRNew York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).
Emerging growth company ☐
If an emerging growth company, indicate by checkmark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐


Item 2.02. Results of Operations and Financial Condition.

On February 6, 2024, Energizer Holdings, Inc. (the “Company”) issued a press release and made available on its website an earnings presentation announcing business results for the first fiscal quarter ended December 31, 2023 and reaffirming fiscal year 2024 outlook. The press release and earnings presentation are furnished as Exhibit 99.1 and Exhibit 99.2, respectively, and incorporated herein by reference.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits.


Exhibit No.Description
Press Release, dated February 6, 2024
Earnings Presentation, dated February 6, 2024
101 Pursuant to Rule 406 of Regulation S-T, the cover page information is formatted in iXBRL (Inline eXtensible Business Reporting Language).
104 Cover Page Interactive Data File (formatted in iXBRL in Exhibit 101).


SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this Current Report on Form 8-K to be signed on its behalf by the undersigned hereunto duly authorized.


ENERGIZER HOLDINGS, INC.


By:  /s/ John J. Drabik                                       
John J. Drabik 
Executive Vice President and Chief Financial Officer

Dated: February 6, 2024






                                    
Exhibit 99.1
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Energizer Holdings, Inc.
533 Maryville University Dr.
St. Louis, MO 63141
FOR IMMEDIATE RELEASECompany Contact
February 6, 2024Jon Poldan
Vice President, Treasurer & Investor Relations
314-985-2349
Jonathan.Poldan@energizer.com

Energizer Holdings, Inc. Announces Fiscal 2024 First Quarter Results


•Net sales for the quarter decreased 6.3% and organic Net sales declined 7.4% versus the prior year in line with the financial outlook.1

•Gross margin for the first quarter was 37.3% and 39.5% as adjusted, a 50 bps improvement over prior year Adjusted Gross margin driven largely by the benefits of Project Momentum.1

•Operating cash flow was $178.1 million with free cash flow exceeding 21% of Net sales, and Debt pay down was $78 million in the first quarter.1

•Increasing the Project Momentum total estimated program savings to $160 million to $180 million, a $30 million increase.

•Reaffirms fiscal year outlook for Net sales, Adjusted Earnings per share and Adjusted EBITDA.1


St. Louis —February 6, 2024—Energizer Holdings, Inc. (NYSE: ENR) today announced results for the first fiscal quarter ended December 31, 2023.

“Execution against our strategies yielded results in line with our expectations and provides a solid start to the fiscal year,” said Mark LaVigne, Chief Executive Officer. “We improved adjusted gross profit margin and delivered outstanding free cash flow, which has enabled us to meaningfully reduce debt for the sixth consecutive quarter. We continue to evaluate opportunities to further optimize our cost structure and simplify our operations to better leverage our global scale, and today we announced the expansion of Project Momentum and the savings expected under the program. I am confident these initiatives will further strengthen the company and advance our strategic priorities as we return to growth over the balance of the year."

Top-Line Performance

For the quarter, we had Net sales of $716.6 million compared to $765.1 million in the prior year period.
First Quarter% Chg
Net sales - FY'23$765.1 
Organic(56.3)(7.4)%
Change in Argentina Operations(0.9)(0.1)%
Impact of currency8.7 1.2 %
Net sales - FY'24$716.6 (6.3)%

__________________
1) See Press Release attachments and supplemental schedules for additional information, including the GAAP and Non-GAAP reconciliations.



•Organic Net sales decreased 7.4% primarily due to the following items:

•The battery business experienced volume declines of approximately 7% primarily due to earlier holiday orders compared to the prior year, which benefited the fourth quarter of 2023, and weaker performance at non-tracked channels; and

•Pricing was relatively flat in the period resulting in a net decrease to organic sales of 0.4%.

Gross Margin

Gross margin percentage on a reported basis was 37.3% versus 39.0% in the prior year. Excluding the current year and prior year restructuring costs and current year integration costs, adjusted gross margin was 39.5%, compared to the prior year adjusted gross margin of 39.0%.(1)
First Quarter
Gross margin - FY'23 Reported and Adjusted(1)
39.0 %
Project Momentum continuous improvement initiatives2.0 %
Product mix impact(0.6)%
Product cost impacts(0.5)%
Pricing(0.4)%
Gross margin - FY'24 Adjusted(1)
39.5 %
Current year impact of restructuring and integration costs(2.2)%
Gross margin - FY'24 Reported37.3 %

Adjusted Gross margin improvement was largely driven by Project Momentum which delivered savings of approximately $16 million in the quarter. This benefit was partially offset by mix impacts, modestly increased product costs, and to a lesser extent, lower pricing.

Selling, General and Administrative Expense (SG&A)

SG&A, excluding restructuring and acquisition costs was 16.4% of Net sales for the first quarter, or $117.8, compared to 14.9%, or $114.1 in the prior year. The year-over-year increase was primarily driven by higher labor and benefit costs, factoring fees and an environmental expense due to a charge related to a legacy facility that has been sold by the Company. This increase was partially offset by Project Momentum savings of approximately $6 million in the quarter.(1)

Advertising and Promotion Expense (A&P)

A&P expense decreased $6.4 million for the first fiscal quarter, or 6.6% of net sales, compared to 7.0% in the prior year.

Earnings Per Share and Adjusted EBITDAFirst Quarter
(In millions, except per share data)20242023
Net earnings$1.9 $49.0 
Diluted net earnings per common share$0.03 $0.68 
Adjusted net earnings(1)
$42.5 $51.8 
Adjusted diluted net earnings per common share(1)
$0.59 $0.72 
Adjusted EBITDA(1)
$132.9 $145.6 
Currency neutral Adjusted diluted net earnings per common share(1)
$0.53 
Currency neutral Adjusted EBITDA(1)
$127.3 

Net earnings and Earnings per share were negatively impacted by currency exchanges losses of $21.0 in Argentina due to economic reform. Net earnings, Earnings per share, Adjusted Earnings per share and Adjusted EBITDA for the quarter were all impacted by the decrease in organic Net sales as well as higher SG&A spend. These declines were partially offset by savings from Project Momentum initiatives, decreased A&P spending and favorable currency.
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Free cash flow and Capital allocation

•Operating cash flow for the first quarter was $178.1 million, and free cash flow was $152.6 million, or 21.3% of Net sales.

•The Company acquired battery manufacturing equipment, raw materials and a leased facility in Belgium for $11.6 providing the Company with a manufacturing location in Europe which we expect to enhance our international production footprint and contribute to future increased Project Momentum savings.

•Dividend payments in the quarter were approximately $23, or $0.30 per common share.

•Long-term debt pay down in the first quarter was approximately $78 million. Net debt to Adjusted EBITDA was 5.3 times as of December 31, 2023. Subsequent to the quarter, the Company has paid down an additional $58 million of long-term debt.

Financial Outlook and Assumptions for Fiscal Year 2024(1)

Our first quarter results were in line with our original guidance of organic revenue down 6% to 8% and Adjusted earnings per share within the range of $0.50 to $0.60.

For fiscal 2024, we continue to expect organic revenue to be flat to down low single digits. We also expect Adjusted EBITDA to be in the range of $600 million to $620 million and Adjusted earnings per share to be in the range of $3.10 to $3.30. In the second quarter we expect organic revenue to be down 2% to 3% and Adjusted earnings per share within the range of $0.65 to $0.70.

Project Momentum savings were previously expected to be in the range of $130 to $150 million over the program timeline. We are now expecting those savings to be in the range of $160 to $180 million over the life of the program. Cash costs to achieve these savings over this same period are now expected to be $140 to $150 million. For fiscal year 2024 savings are expected to be in the range of $55 to $65 million with one-time cash costs to achieve between $60 to $70 million.

Webcast Information
In conjunction with this announcement, the Company will hold an investor conference call beginning at 10:00 a.m. Eastern Time today. The call will focus on first fiscal quarter earnings and recent trends in the business. All interested parties may access a live webcast of this conference call at www.energizerholdings.com, under "Investors" and "Events and Presentations" tabs or by using the following link:
https://app.webinar.net/MnZGLegXax0

For those unable to participate during the live webcast, a replay will be available on www.energizerholdings.com, under "Investors," "Events and Presentations," and "Past Events" tabs.
# # #
This document contains both historical and forward-looking statements. Forward-looking statements are not based on historical facts but instead reflect our expectations, estimates or projections concerning future results or events, including, without limitation, the future sales, gross margins, costs, earnings, cash flows, tax rates and performance of the Company. These statements generally can be identified by the use of forward-looking words or phrases such as "believe," "expect," "expectation," "anticipate," "may," "could," "will," "intend," "belief," "estimate," "plan," "target," "predict," "likely," "should," "forecast," "outlook," or other similar words or phrases. These statements are not guarantees of performance and are inherently subject to known and unknown risks, uncertainties and assumptions that are difficult to predict and could cause our actual results to differ materially from those indicated by those statements. We cannot assure you that any of our expectations, estimates or projections will be achieved. The forward-looking statements included in this document are only made as of the date of this document and we disclaim any obligation to publicly update any forward-looking statement to reflect subsequent events or circumstances. All forward-looking statements should be evaluated with the understanding of their inherent uncertainty. Numerous factors could cause our actual results and events to differ materially from those expressed or implied by forward-looking statements, including, without limitation:
•Global economic and financial market conditions beyond our control might materially and negatively impact us.
•Competition in our product categories might hinder our ability to execute our business strategy, achieve profitability, or maintain relationships with existing customers.
•Changes in the retail environment and consumer preferences could adversely affect our business, financial condition and results of operations.
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•We must successfully manage the demand, supply, and operational challenges brought on by any disease outbreak, including epidemics, pandemics, or similar widespread public health concerns.
•Loss or impairment of the reputation of our Company or our leading brands or failure of our marketing plans could have an adverse effect on our business.
•Loss of any of our principal customers could significantly decrease our sales and profitability.
•Our ability to meet our growth targets depends on successful product, marketing and operations innovation and successful responses to competitive innovation and changing consumer habits.
•We are subject to risks related to our international operations, including currency fluctuations, which could adversely affect our results of operations.
•If we fail to protect our intellectual property rights, competitors may manufacture and market similar products, which could adversely affect our market share and results of operations.
•Changes in production costs, including raw material prices and transportation costs, from inflation or otherwise, have adversely affected, and in the future could erode, our profit margins and negatively impact operating results.
•Our reliance on certain significant suppliers subjects us to numerous risks, including possible interruptions in supply, which could adversely affect our business.
•Our business is vulnerable to the availability of raw materials, our ability to forecast customer demand and our ability to manage production capacity.
•The manufacturing facilities, supply channels or other business operations of the Company and our suppliers may be subject to disruption from events beyond our control.
•The Company's future results may be affected by its operational execution, including its ability to achieve cost savings as a result of any current or future restructuring events.
•If our goodwill and indefinite-lived intangible assets become impaired, we will be required to record impairment charges, which may be significant.
•A failure of a key information technology system could adversely impact our ability to conduct business.
•We rely significantly on information technology and any inadequacy, interruption, theft or loss of data, malicious attack, integration failure, failure to maintain the security, confidentiality or privacy of sensitive data residing on our systems or other security failure of that technology could harm our ability to effectively operate our business and damage the reputation of our brands.
•We have significant debt obligations that could adversely affect our business and our ability to meet our obligations.
•If we pursue strategic acquisitions, divestitures or joint ventures, we might experience operating difficulties, dilution, and other consequences that may harm our business, financial condition, and operating results, and we may not be able to successfully consummate favorable transactions or successfully integrate acquired businesses.
•Our business involves the potential for product liability claims, labeling claims, commercial claims and other legal claims against us, which could affect our results of operations and financial condition and result in product recalls or withdrawals.
•Our business is subject to increasing government regulations in both the U.S. and abroad that could impose material costs.
•Increased focus by governmental and non-governmental organizations, customers, consumers and shareholders on environmental, social and governance (ESG) issues, including those related to sustainability and climate change, may have an adverse effect on our business, financial condition and results of operations and damage our reputation.
•We are subject to environmental laws and regulations that may expose us to significant liabilities and have a material adverse effect on our results of operations and financial condition.

In addition, other risks and uncertainties not presently known to us or that we consider immaterial could affect the accuracy of any such forward-looking statements. The list of factors above is illustrative, but by no means exhaustive. All forward-looking statements should be evaluated with the understanding of their inherent uncertainty. Additional risks and uncertainties include those detailed from time to time in our publicly filed documents, including those described under the heading “Risk Factors” in our Form 10-K filed with the Securities and Exchange Commission on November 14, 2023.
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ENERGIZER HOLDINGS, INC.
CONSOLIDATED STATEMENT OF EARNINGS
(Condensed)
(In millions, except per share data - Unaudited)

For the Quarters Ended December 31,
 20232022
Net sales$716.6 $765.1 
Cost of products sold (1)449.6 466.8 
Gross profit267.0 298.3 
Selling, general and administrative expense (1)128.1 120.4 
Advertising and sales promotion expense47.0 53.4 
Research and development expense7.8 7.6 
Amortization of intangible assets14.5 16.0 
Interest expense40.7 42.9 
Loss/(gain) on extinguishment of debt (2)0.5 (2.9)
Other items, net (1) (3)19.0 (1.4)
Earnings before income taxes9.4 62.3 
Income tax provision7.5 13.3 
Net earnings $1.9 $49.0 
Basic net earnings per common share$0.03 $0.69 
Diluted net earnings per common share$0.03 $0.68 
Weighted average shares of common stock - Basic71.7 71.4 
Weighted average shares of common stock - Diluted72.6 72.2 

(1) See the attached Supplemental Schedules - Non-GAAP Reconciliations, which break out the Project Momentum restructuring and related costs and acquisition and integration costs included within these lines.

(2) The Loss on extinguishment of debt for the quarter ended December 31, 2023 relates to the early repayment of term loan. The Gain on the extinguishment of debt for the quarter ended December 31, 2022 relates to the repurchase of outstanding Senior Notes at a discount and repayment of term loan.

(3) During December 2023, a new president was inaugurated in Argentina bringing significant economic reform to the country including devaluing the Argentine Peso by 50% in the month of December (the "December 2023 Argentina Economic Reform"). As a result of this reform and devaluation, the Company recorded $21.0 million of exchange losses within Other items, net for the three months ended December 31, 2023.


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ENERGIZER HOLDINGS, INC.
CONSOLIDATED BALANCE SHEETS
(Condensed)
(In millions - Unaudited)

AssetsDecember 31,
2023		September 30,
2023
Current assets 
Cash and cash equivalents$241.7 $223.3 
     Trade receivables376.4 511.6 
Inventories640.6 649.7 
Other current assets212.3 172.0 
Total current assets$1,471.0 $1,556.6 
Property, plant and equipment, net384.3 363.7 
Operating lease assets96.5 98.4 
Goodwill1,023.7 1,016.2 
Other intangible assets, net1,224.4 1,237.7 
Deferred tax assets92.2 88.4 
Other assets131.8 148.6 
Total assets$4,423.9 $4,509.6 
Liabilities and Shareholders' Equity
Current liabilities
Current maturities of long-term debt$12.0 $12.0 
Current portion of finance leases0.9 0.3 
Notes payable2.2 8.2 
Accounts payable374.6 370.8 
Current operating lease liabilities17.3 17.3 
Other current liabilities317.4 325.6 
Total current liabilities$724.4 $734.2 
Long-term debt3,303.3 3,332.1 
Operating lease liabilities81.9 84.7 
Deferred tax liabilities10.5 12.4 
Other liabilities133.2 135.5 
Total liabilities$4,253.3 $4,298.9 
Shareholders' equity
Common stock0.8 0.8 
Additional paid-in capital718.5 750.5 
Retained losses(164.3)(164.8)
Treasury stock(225.1)(238.1)
Accumulated other comprehensive loss(159.3)(137.7)
Total shareholders' equity$170.6 $210.7 
Total liabilities and shareholders' equity$4,423.9 $4,509.6 
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ENERGIZER HOLDINGS, INC.
CONSOLIDATED STATEMENTS OF CASH FLOWS
(Condensed)
(In millions - Unaudited)

 For the Three Months Ended December 31,
 20232022
Cash Flow from Operating Activities  
Net earnings$1.9 $49.0 
Non-cash integration and restructuring charges2.4 — 
Depreciation and amortization30.0 32.1 
Deferred income taxes1.1 0.9 
Share-based compensation expense6.3 4.6 
Loss/(gain) on extinguishment of debt0.5 (2.9)
Exchange loss/(gain) included in income23.7 (1.0)
Non-cash items included in income, net6.3 4.4 
Other, net2.3 0.8 
Changes in current assets and liabilities used in operations103.6 73.1 
Net cash from operating activities178.1 161.0 
Cash Flow from Investing Activities
Capital expenditures(25.5)(9.5)
Proceeds from sale of assets— 0.7 
Acquisitions, net of cash acquired(11.6)— 
Net cash used by investing activities(37.1)(8.8)
Cash Flow from Financing Activities  
Payments on debt with maturities greater than 90 days(78.2)(49.8)
Net decrease in debt with original maturities of 90 days or less(5.2)(5.9)
Dividends paid on common stock(22.7)(21.8)
Taxes paid for withheld share-based payments(4.7)(1.9)
Net cash used by financing activities(110.8)(79.4)
Effect of exchange rate changes on cash(11.8)2.2 
Net increase in cash, cash equivalents, and restricted cash18.4 75.0 
Cash, cash equivalents, and restricted cash, beginning of period223.3 205.3 
Cash, cash equivalents, and restricted cash, end of period$241.7 $280.3 
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ENERGIZER HOLDINGS, INC.
Reconciliation of GAAP and Non-GAAP Measures
For the Quarter Ended December 31, 2023
The Company reports its financial results in accordance with accounting principles generally accepted in the U.S. ("GAAP"). However, management believes that certain non-GAAP financial measures provide users with additional meaningful comparisons to the corresponding historical or future period, and are used for management incentive compensation. These non-GAAP financial measures exclude items that are not reflective of the Company's on-going operating performance, such as restructuring and related costs, acquisition and integration costs, the loss/(gain) on extinguishment of debt and the December 2023 Argentina Economic Reform. In addition, these measures help investors to analyze year over year comparability when excluding currency fluctuations as well as other Company initiatives that are not on-going. We believe these non-GAAP financial measures are an enhancement to assist investors in understanding our business and in performing analysis consistent with financial models developed by research analysts. Investors should consider non-GAAP measures in addition to, not as a substitute for, or superior to, the comparable GAAP measures. In addition, these non-GAAP measures may not be the same as similar measures used by other companies due to possible differences in methods and in the items being adjusted.

We provide the following non-GAAP measures and calculations, as well as the corresponding reconciliation to the closest GAAP measure in the following supplemental schedules:

Segment Profit. This amount represents the operations of our two reportable segments including allocations for shared support functions. General corporate and other expenses, amortization expense, interest expense, loss/(gain) on extinguishment of debt, other items, net, restructuring and related costs and acquisition and integration costs have all been excluded from segment profit.

Adjusted Net Earnings and Adjusted Diluted Net Earnings Per Common Share (EPS). These measures exclude the impact of restructuring and related costs, the costs related to acquisition and integration, the loss/(gain) on extinguishment of debt and the December 2023 Argentina Economic Reform.

Non-GAAP Tax Rate. This is the tax rate when excluding the pre-tax impact of restructuring and related costs, acquisition and integration costs, the loss/(gain) on extinguishment of debt and the December 2023 Argentina Economic Reform, as well as the related tax impact for these items, calculated utilizing the statutory rate for where the impact was incurred.

Organic. This is the non-GAAP financial measurement of the change in revenue or segment profit that excludes or otherwise adjusts for the change in Argentina operations and impact of currency from the changes in foreign currency exchange rates as defined below:

Change in Argentina Operations. The Company is presenting separately all changes in sales and segment profit from our Argentina affiliate due to the designation of the economy as highly inflationary as of July 1, 2018.

Impact of Currency. The Company evaluates the operating performance of our Company on a currency neutral basis. The Impact of Currency is the change in foreign currency exchange rates year-over-year on reported results, which is calculated by comparing the value of current year foreign operations at the current period USD exchange rate versus the value of current year foreign operations at the prior period USD exchange rate. The impact of currency also includes gains/(losses) of currency hedging programs, and it excludes hyper-inflationary markets.
Adjusted Comparisons. Detail for Adjusted Gross profit, Adjusted Gross margin, Adjusted SG&A and Adjusted SG&A as percent of Net sales and Adjusted Other items, net are also supplemental non-GAAP measure disclosures. These measures exclude the impact of restructuring and related costs, acquisition and integration costs and the December 2023 Argentina Economic Reform.

EBITDA and Adjusted EBITDA. EBITDA is defined as net earnings before income tax provision, interest, the loss/(gain) on extinguishment of debt, and depreciation and amortization. Adjusted EBITDA further excludes the impact of the costs related to restructuring, acquisition and integration costs, the settlement loss on US pension annuity buy out, the December 2023 Argentina Economic Reform and share based payments.

Free Cash Flow. Free cash flow is defined as net cash provided by operating activities reduced by capital expenditures, net of the proceeds from asset sales.

Net Debt. Net debt is defined as total Company debt, less cash and cash equivalents.

Currency-neutral. Currency-neutral excludes the Impact of currency as defined above on key measures. Hyper inflationary markets are excluded from this calculation.
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Energizer Holdings, Inc.
Supplemental Schedules - Segment Information
For the Quarter Ended December 31, 2023
(In millions - Unaudited)




Operations for Energizer are managed via two product segments: Batteries & Lights and Auto Care. Energizer’s operating model includes a combination of standalone and shared business functions between the product segments, varying by country and region of the world. Shared functions include the sales and marketing functions, as well as human resources, IT and finance shared service costs. Energizer applies a fully allocated cost basis, in which shared business functions are allocated between segments. Such allocations are estimates, and may not represent the costs of such services if performed on a standalone basis. Segment sales and profitability, as well as the reconciliation to earnings before income taxes for the quarters ended December 31, 2023 and 2022 are presented below:
 Quarters Ended December 31,
 20232022
Net Sales 
Batteries & Lights
$617.8 $671.6 
Auto Care98.8 93.5 
Total Net Sales$716.6 $765.1 
Segment Profit
Batteries & Lights
132.4 138.3 
Auto Care6.9 10.6 
Total segment profit$139.3 $148.9 
    General corporate and other expenses (1)(29.2)(25.4)
    Amortization of intangible assets(14.5)(16.0)
    Restructuring and related costs (2)(22.4)(6.6)
    Acquisition and integration costs (2) (2.6)— 
    Interest expense(40.7)(42.9)
    (Loss)/gain on extinguishment of debt(0.5)2.9 
    December 2023 Argentina Economic Reform (3)
(21.0)— 
    Other items, net - Adjusted (4)1.0 1.4 
Total earnings before income taxes$9.4 $62.3 
(1) Recorded in SG&A on the Consolidated (Condensed) Statement of Earnings.
(2) See the Supplemental Schedules - Non-GAAP Reconciliations for the line items where these charges are recorded in the Consolidated (Condensed) Statement of Earnings.
(3) During December 2023, a new president was inaugurated in Argentina bringing significant economic reform to the country including devaluing the Argentine Peso by 50% in the month of December. As a result of this reform and devaluation, the Company recorded $21.0 million of exchange losses in Other items, net on the Consolidated (Condensed) Statement of Earnings.
(4) See the Supplemental Non-GAAP reconciliation for the Other items, net reconciliation between the reported and adjusted balances.

Supplemental segment information is presented below for depreciation and amortization:
Quarters Ended December 31,
Depreciation and amortization20232022
Batteries & Lights$13.0 $13.4 
Auto Care2.5 2.7 
Total segment depreciation and amortization$15.5 $16.1 
Amortization of intangible assets14.5 16.0 
Total depreciation and amortization$30.0 $32.1 
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Energizer Holdings, Inc.
Supplemental Schedules - GAAP EPS to Adjusted EPS Reconciliation
For the Quarter Ended December 31, 2023
(In millions, except for per share data- Unaudited)






For the Quarters Ended December 31,
20232022
Net earnings$1.9 $49.0 
Pre-tax adjustments
Restructuring and related costs (1)22.4 6.6 
Acquisition and integration (1)2.6 — 
Loss/(gain) on extinguishment of debt0.5 (2.9)
December 2023 Argentina Economic Reform (2)
21.0 — 
Total adjustments, pre-tax$46.5 $3.7 
Total adjustments, after tax$40.6 $2.8 
Adjusted Net earnings (3)$42.5 $51.8 
Diluted net earnings per common share $0.03 $0.68 
Adjustments (per common share)
Restructuring and related costs0.23 0.07 
Acquisition and integration0.03 — 
Loss/(gain) on extinguishment of debt0.01 (0.03)
December 2023 Argentina Economic Reform (2)0.29 — 
Adjusted Diluted net earnings per diluted common share$0.59 $0.72 
Weighted average shares of common stock - Diluted72.6 72.2 

(1) See Supplemental Schedules - Non-GAAP Reconciliations for the line items where these costs are recorded on the Consolidated (Condensed) Statement of Earnings.

(2) During December 2023, a new president was inaugurated in Argentina bringing significant economic reform to the country including devaluing the Argentine Peso by 50% in the month of December. As a result of this reform and devaluation, the Company recorded $21.0 million of exchange losses in Other items, net on the Consolidated (Condensed) Statement of Earnings.

(3) The effective tax rate for the Adjusted Net earnings and Adjusted Diluted EPS for the quarters ended December 31, 2023 and 2022 was 24.0% and 21.5%, respectively, as calculated utilizing the statutory rate for where the costs were incurred.
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Energizer Holdings, Inc.
Supplemental Schedules - Currency Neutral Results
For the Quarter Ended December 31, 2023
(In millions, except per share data - Unaudited)



For the Quarter EndedPrior Quarter Ended
December 31, 2023% Change% Change
As Reported
Impact of Currency(1)
Currency NeutralDecember 31, 2022As Reported BasisCurrency Neutral Basis
As Reported under GAAP
Diluted net earnings per common share$0.03 $0.06 $(0.03)$0.68 
NM(3)
NM(3)
Net earnings$1.9 $4.2 $(2.3)$49.0 
NM(3)
NM(3)
As Adjusted (non-GAAP)(2)
Adjusted diluted net earnings per common share$0.59 $0.06 $0.53 $0.72 (18.1)%(26.4)%
Adjusted EBITDA$132.9 $5.6 $127.3 $145.6 (8.7)%(12.6)%


(1) The Impact of Currency is the change in foreign currency exchange rates year-over-year on reported results, which is calculated by comparing the value of current year foreign operations at the current period USD exchange rate versus the value of current year foreign operations at the prior period USD exchange rate. The impact of currency also includes gains/(losses) of currency hedging programs, and it excludes hyper-inflationary markets.

(2) See supplemental schedules - Non-GAAP Reconciliations for full reconciliations of the Company's non-GAAP adjusted amounts.

(3) These percentage calculations are not meaningful.

11
Energizer Holdings, Inc.
Supplemental Schedules - Segment Sales and Profit
For the Quarter Ended December 31, 2023
(In millions - Unaudited)

Net salesQ1'24% Chg
Batteries & Lights
Net sales - prior year$671.6 
Organic(60.8)(9.1)%
Change in Argentina Operations(0.7)(0.1)%
Impact of currency7.7 1.2 %
Net sales - current year$617.8 (8.0)%
Auto Care
Net sales - prior year$93.5 
Organic4.5 4.8 %
Change in Argentina Operations(0.2)(0.2)%
Impact of currency1.0 1.1 %
Net sales - current year$98.8 5.7 %
Total Net Sales
Net sales - prior year$765.1 
Organic(56.3)(7.4)%
Change in Argentina Operations(0.9)(0.1)%
Impact of currency8.7 1.2 %
Net sales - current year$716.6 (6.3)%

Segment profitQ1'24% Chg
Batteries & Lights
Segment profit - prior year$138.3 
Organic(6.8)(4.9)%
Change in Argentina Operations1.0 0.7 %
Impact of currency(0.1)(0.1)%
Segment profit - current year$132.4 (4.3)%
Auto Care
Segment profit - prior year$10.6 
Organic(4.6)(43.4)%
Change in Argentina Operations— — %
Impact of currency0.9 8.5 %
Segment profit - current year$6.9 (34.9)%
Total Segment Profit
Segment profit - prior year$148.9 
Organic(11.4)(7.7)%
Change in Argentina Operations1.0 0.7 %
Impact of currency0.8 0.6 %
Segment profit - current year$139.3 (6.4)%
12

Energizer Holdings, Inc.
Supplemental Schedules - Non-GAAP Reconciliations
For the Quarter Ended December 31, 2023
(In millions - Unaudited)



Gross profitQ1'24Q1'23
Net sales$716.6 $765.1 
Reported Cost of products sold449.6 466.8 
Gross profit$267.0 $298.3 
Gross margin37.3 %39.0 %
Adjustments
Restructuring and related costs12.8 0.3 
Acquisition and integration costs2.9 — 
Cost of products sold - adjusted433.9 466.5 
Adjusted Gross profit$282.7 $298.6 
Adjusted Gross margin39.5 %39.0 %
SG&AQ1'24Q1'23
Reported SG&A$128.1 $120.4 
Reported SG&A % of Net sales17.9 %15.7 %
Adjustments
Restructuring and related costs9.6 6.3 
Acquisition and integration costs0.7 — 
SG&A Adjusted - subtotal$117.8 $114.1 
SG&A Adjusted % of Net sales16.4 %14.9 %
Other items, netQ1'24Q1'23
Interest income$(5.6)$(0.2)
Foreign currency exchange loss/(gain)2.7 (1.0)
Pension cost other than service costs1.0 0.7 
Other0.9 (0.9)
Other items, net - Adjusted$(1.0)$(1.4)
Acquisition and integration - TSA income(1.0)— 
December 2023 Argentina Economic Reform21.0 — 
Total Other items, net$19.0 $(1.4)
Restructuring and related costsQ1'24Q1'23
Cost of products sold$12.8 $0.3 
SG&A - Restructuring costs5.7 6.3 
SG&A - IT Enablement3.9 — 
Total Restructuring and related costs$22.4 $6.6 
Acquisition and integrationQ1'24Q1'23
Cost of products sold$2.9 $— 
SG&A0.7 — 
Other items, net(1.0)— 
Total Acquisition and integration related items$2.6 $— 

13

Energizer Holdings, Inc.
Supplemental Schedules - Non-GAAP Reconciliations cont.
For the Quarter Ended December 31, 2023
(In millions - Unaudited)
Q1'24Q4'23Q3'23Q2'23LTM 12/31/23 (1)Q1'23
Net earnings$1.9 $19.7 $31.8 $40.0 $93.4 $49.0 
Income tax provision7.5 2.9 8.6 10.4 29.4 13.3 
Earnings before income taxes9.4 22.6 40.4 50.4 122.8 62.3 
Interest expense 40.7 41.6 42.2 42.0 166.5 42.9 
Loss/(gain) on extinguishment of debt0.5 0.2 0.3 0.9 1.9 (2.9)
Depreciation & Amortization30.0 29.7 30.5 30.4 120.6 32.1 
EBITDA$80.6 $94.1 $113.4 $123.7 $411.8 $134.4 
Adjustments:
Restructuring and related costs22.4 36.5 9.1 7.5 75.5 6.6 
Acquisition and integration costs2.6 — — — 2.6 — 
Settlement loss on US pension annuity buy out— 50.2 — — 50.2 — 
December 2023 Argentina Economic Reform21.0 — — — 21.0 — 
Share-based payments6.3 4.6 4.3 8.3 23.5 4.6 
Adjusted EBITDA$132.9 $185.4 $126.8 $139.5 $584.6 $145.6 
(1) LTM defined as the latest 12 months for the period ending December 31, 2023.
For the Quarters Ended December 31,
Free cash flow20232022
Net cash from operating activities $178.1 $161.0 
Capital expenditures (25.5)(9.5)
Proceeds from sale of assets — 0.7 
Free cash flow$152.6 $152.2 

Net debt12/31/20239/30/2023
Current maturities of long-term debt$12.0 $12.0 
Current portion of finance leases0.9 0.3 
Notes payable2.2 8.2 
Long-term debt3,303.3 3,332.1 
Total debt per the balance sheet$3,318.4 $3,352.6 
Cash and cash equivalents241.7 223.3 
Net debt$3,076.7 $3,129.3 


14

Energizer Holdings, Inc.
Supplemental Schedules - Non-GAAP Reconciliations cont.
FY 2024 Outlook
(In millions - Unaudited)


Fiscal 2024 Outlook Reconciliation - Adjusted earnings and Adjusted diluted net earnings per common share (EPS)
Fiscal Q2 2024 OutlookFiscal Year 2024 Outlook
(in millions, except per share data)Adjusted Net earningsAdjusted EPSAdjusted Net earnings Adjusted EPS
Fiscal 2024 - GAAP Outlook$26to$38$0.36to$0.52$141to$167$1.93to$2.29
Impacts:
Restructuring and related costs17to130.24to0.1857to500.78to0.68
  Acquisition and integration costs1to—0.01to—3to20.04to0.03
December 2023 Argentina Economic Reform2to—0.03to—23to210.32to0.29
  Loss on extinguishment of debt1to—0.01to—2to10.03to0.01
Fiscal 2024 - Adjusted Outlook$47to$51$0.65to$0.70$226to$241$3.10to$3.30
Fiscal 2024 Outlook Reconciliation - Adjusted EBITDA
(in millions, except per share data)
Net earnings $141to$167
Income tax provision34to64
Earnings before income taxes$175to$231
Interest expense 163to156
Loss on extinguishment of debt2to1
Amortization60to55
Depreciation 70to65
EBITDA$470to$508
Adjustments:
Restructuring and related costs75to65
Acquisition and integration costs4to3
December 2023 Argentina Economic Reform23to21
Share-based payments28to23
Adjusted EBITDA$600to$620


15
+ Fiscal 2024 Q1 Earnings February 6, 2024 Exhibit 99.2

 
This document contains both historical and forward-looking statements. Forward-looking statements are not based on historical facts but instead reflect our expectations, estimates or projections concerning future results or events, including, without limitation, the future sales, gross margins, costs, earnings, cash flows, tax rates and performance of the Company. These statements generally can be identified by the use of forward-looking words or phrases such as "believe," "expect," "expectation," "anticipate," "may," "could," "will," "intend," "belief," "estimate," "plan," "target," "predict," "likely," "should," "forecast," "outlook," or other similar words or phrases. These statements are not guarantees of performance and are inherently subject to known and unknown risks, uncertainties and assumptions that are difficult to predict and could cause our actual results to differ materially from those indicated by those statements. We cannot assure you that any of our expectations, estimates or projections will be achieved. The forward-looking statements included in this document are only made as of the date of this document and we disclaim any obligation to publicly update any forward-looking statement to reflect subsequent events or circumstances. All forward-looking statements should be evaluated with the understanding of their inherent uncertainty. Numerous factors could cause our actual results and events to differ materially from those expressed or implied by forward-looking statements, including, without limitation: Global economic and financial market conditions beyond our control might materially and negatively impact us. Competition in our product categories might hinder our ability to execute our business strategy, achieve profitability, or maintain relationships with existing customers. Changes in the retail environment and consumer preferences could adversely affect our business, financial condition and results of operations. We must successfully manage the demand, supply, and operational challenges brought on by any disease outbreak, including epidemics, pandemics, or similar widespread public health concerns. Loss or impairment of the reputation of our Company or our leading brands or failure of our marketing plans could have an adverse effect on our business. Loss of any of our principal customers could significantly decrease our sales and profitability. Our ability to meet our growth targets depends on successful product, marketing and operations innovation and successful responses to competitive innovation and changing consumer habits. We are subject to risks related to our international operations, including currency fluctuations, which could adversely affect our results of operations. If we fail to protect our intellectual property rights, competitors may manufacture and market similar products, which could adversely affect our market share and results of operations. Changes in production costs, including raw material prices and transportation costs, from inflation or otherwise, have adversely affected, and in the future could erode, our profit margins and negatively impact operating results. Our reliance on certain significant suppliers subjects us to numerous risks, including possible interruptions in supply, which could adversely affect our business. Our business is vulnerable to the availability of raw materials, our ability to forecast customer demand and our ability to manage production capacity. The manufacturing facilities, supply channels or other business operations of the Company and our suppliers may be subject to disruption from events beyond our control. The Company's future results may be affected by its operational execution, including its ability to achieve cost savings as a result of any current or future restructuring events. If our goodwill and indefinite-lived intangible assets become impaired, we will be required to record impairment charges, which may be significant. A failure of a key information technology system could adversely impact our ability to conduct business. We rely significantly on information technology and any inadequacy, interruption, theft or loss of data, malicious attack, integration failure, failure to maintain the security, confidentiality or privacy of sensitive data residing on our systems or other security failure of that technology could harm our ability to effectively operate our business and damage the reputation of our brands. We have significant debt obligations that could adversely affect our business and our ability to meet our obligations. If we pursue strategic acquisitions, divestitures or joint ventures, we might experience operating difficulties, dilution, and other consequences that may harm our business, financial condition, and operating results, and we may not be able to successfully consummate favorable transactions or successfully integrate acquired businesses. Our business involves the potential for product liability claims, labeling claims, commercial claims and other legal claims against us, which could affect our results of operations and financial condition and result in product recalls or withdrawals. Our business is subject to increasing government regulations in both the U.S. and abroad that could impose material costs. Increased focus by governmental and non-governmental organizations, customers, consumers and shareholders on environmental, social and governance (ESG) issues, including those related to sustainability and climate change, may have an adverse effect on our business, financial condition and results of operations and damage our reputation. We are subject to environmental laws and regulations that may expose us to significant liabilities and have a material adverse effect on our results of operations and financial condition. In addition, other risks and uncertainties not presently known to us or that we consider immaterial could affect the accuracy of any such forward-looking statements. The list of factors above is illustrative, but by no means exhaustive. All forward-looking statements should be evaluated with the understanding of their inherent uncertainty. Additional risks and uncertainties include those detailed from time to time in our publicly filed documents, including those described under the heading “Risk Factors” in our Form 10-K filed with the Securities and Exchange Commission on November 14, 2023. Forward-Looking Statements

 
Non-GAAP Financial Measures The Company reports its financial results in accordance with accounting principles generally accepted in the U.S. ("GAAP"). However, management believes that certain non-GAAP financial measures provide users with additional meaningful comparisons to the corresponding historical or future period, and are used for management incentive compensation. These non-GAAP financial measures exclude items that are not reflective of the Company's on-going operating performance, such as restructuring and related costs, acquisition and integration costs, the Loss/(gain) on extinguishment of debt and the December 2023 Argentina Economic Reform. In addition, these measures help investors to analyze year over year comparability when excluding currency fluctuations as well as other Company initiatives that are not on-going. We believe these non-GAAP financial measures are an enhancement to assist investors in understanding our business and in performing analysis consistent with financial models developed by research analysts. Investors should consider non-GAAP measures in addition to, not as a substitute for, or superior to, the comparable GAAP measures. In addition, these non-GAAP measures may not be the same as similar measures used by other companies due to possible differences in methods and in the items being adjusted. We provide the following non-GAAP measures and calculations, as well as the corresponding reconciliation to the closest GAAP measure in the appendix: •Organic. This is the non-GAAP financial measurement of the change in revenue or segment profit that excludes or otherwise adjusts for the change in Argentina operations and impact of currency from the changes in foreign currency exchange rates as defined below: •Change in Argentina Operations. The Company is presenting separately all changes in sales and segment profit from our Argentina affiliate due to the designation of the economy as highly inflationary as of July 1, 2018. •Impact of currency. The Company evaluates the operating performance of our Company on a currency neutral basis. The Impact of Currency is the change in foreign currency exchange rates year-over-year on reported results, which is calculated by comparing the value of current year foreign operations at the current period USD exchange rate versus the value of current year foreign operations at the prior period USD exchange rate. The impact of currency also includes gains/(losses) of currency hedging programs, and it excludes hyper-inflationary markets. •Adjusted Comparisons. Detail for adjusted gross profit and adjusted gross margin are also supplemental non-GAAP measure disclosures. These measures exclude the impact of restructuring and related costs and acquisition and integration costs. •Free Cash Flow. Free Cash Flow is defined as net cash provided by operating activities reduced by capital expenditures, net of the proceeds from asset sales. •EBITDA and Adjusted EBITDA. EBITDA is defined as net earnings before income tax provision, interest, the loss/(gain) on extinguishment of debt, and depreciation and amortization. Adjusted EBITDA further excludes the impact of the costs related to restructuring, acquisition and integration costs, the costs of exiting the Russian market, gain on capital lease termination, the costs of the May 2022 Brazilian flood, an acquisition earn out, the settlement loss on US pension annuity buy out, the December 2023 Argentina Economic Reform and share based payments. •Net Debt. Net Debt is defined as total Company debt, less cash and cash equivalents. Net leverage is defined as Net debt divided by Adjusted EBITDA for the last twelve month period (LTM).

 
+ Financial Results First Quarter 2024

 
METRIC First Quarter 2024 Free Cash Flow* Adjusted Gross Margin* Adjusted EBITDA was $132.9 million(3), or 18.5% of net sales Adjusted gross margin was 39.5%(1), up 50 basis points from the prior year All comparisons are to Fiscal 2023 comparable reported results. * See non-GAAP reconciliations in the Appendix. Adjusted EBITDA* Free cash flow was $152.6 million(2), or 21.3% of net sales, up from 19.9% of net sales in the prior year Key Metrics – First Quarter 2024 Net Sales* Net sales on a reported basis of $716.6 million, down 6.3% • Organic net sales decline of 7.4% (1) GAAP gross margin of 37.3% (2) Operating cash flow of $178.1 million (3) GAAP net earnings of $1.9 million Debt Paydown First quarter debt paydown of $78 million • Additional $58M of debt paydown after quarter end 5

 
$200 $200 $786 $656 $293 $242 $242 $681 $94 $130 $363 $52 Q3'22 Ending Cash (+) Operating Cash Flows (-) Capex (-) Dividends (-) Debt Repayment (-) Other Q1'24 Ending Cash Strong free cash flow and debt paydown over the past six quarters Q3 FY 2022 (Ended June 2022) Q1 FY 2024 (Ended Dec 2023) Last 6 Quarters LTM FCF % * LTM FCF % * Net Leverage Net Leverage 6.1x -0.9% 5.3x 11.7% ($ in millions) * See non-GAAP reconciliations in the Appendix. 6 $400 million of debt paydown since Q4 FY’22 inclusive of $58 million dollar repayment in January 2024

 
+ Battery Category

 
Battery Category Volume & Value – Rolling 13 Week 8 Source: Circana (IRI) Unify Total US Multi-Outlet plus Convenience + Profitero (Amazon) trailing 13 week -15% -10% -5% 0% 5% 10% 15% Dollar Sales % Chg vs YA Volume Sales % Chg vs YA Volume recovery continued into Fiscal 2024 with value impacted by the cycling of price increases Total US - MULC + Amazon

 
+ Auto Care

 
$521.3 $618.7 $622.8 $614.8 $620.1 15.2% 15.9% 7.5% 12.2% 11.5% 0.0% 5.0% 10.0% 15.0% 20.0% 25.0% 30.0% $350.0 $400.0 $450.0 $500.0 $550.0 $600.0 $650.0 $700.0 FY20 FY21 FY22 FY23 T4Q Q1 '24 Auto Net Sales & Segment Profit % Net Sales ($ in millions) Segment Profit % We have made progress restoring the profitability of the auto business in the last 18 months while maintaining topline stability 10 Gross Margin expected to continue to improve in full year 2024

 
+ Outlook Q2 FY2024

 
Key Metrics – Maintaining Fiscal 2024 Outlook METRIC Fiscal 2024 Outlook All comparisons are to Fiscal 2023 comparable reported results. * See non-GAAP reconciliations in the Appendix. Organic net sales projected flat to down low single digits • Q2 organic net sales projected to decline 2 – 3%Net Sales Adjusted Gross Margin $3.10 to $3.30 • Q2 Adjusted EPS of $0.65 - $0.70, up mid- single digits at the midpoint versus the prior year quarter Free Cash Flow expected to be in excess of 10% of net sales Reduce Net Leverage to below 5.0x's • Targeted debt pay down of $150 - $200 million 12 Free Cash Flow & Net Leverage Adjusted EPS* Adjusted EBITDA* $600 - $620 million • Savings from Project Momentum initiatives and lower input cost are expected to offset decline in net sales Adjusted gross margin of approximately 40%; 100 basis point consolidated improvement, with improvement expected in both Battery and Auto Care • Q2 improvement of approximately 150 basis points versus prior year

 
Increased Momentum savings target by $30M, taking the savings range to $160M -180M $160 to $180 MILLION In Run Rate Benefits anticipated to be achieved by end of FY25 $55M - $65M in FY’24 (unchanged) $50M - $60M in FY’25 $150 MILLION In Working Capital Improvements One-time Cash Pre-tax Expense$140 to $150 MILLION 13 Funded via working capital improvements

 
Appendix Materials: Non-GAAP Reconciliations 14

 
Non-GAAP Reconciliation: Consolidated Net Sales (in millions) Organic. This is the non-GAAP financial measurement of the change in revenue or segment profit that excludes or otherwise adjusts for the change in Argentina operations and impact of currency from the changes in foreign currency exchange rates as defined below: • Change in Argentina Operations. The Company is presenting separately all changes in sales and segment profit from our Argentina affiliate due to the designation of the economy as highly inflationary as of July 1, 2018. • Impact of Currency. The Company evaluates the operating performance of our Company on a currency neutral basis. The Impact of Currency is the change in foreign currency exchange rates year-over-year on reported results, which is calculated by comparing the value of current year foreign operations at the current period USD exchange rate versus the value of current year foreign operations at the prior period USD exchange rate. The impact of currency also includes gains/(losses) of currency hedging programs, and it excludes hyper-inflationary markets. 15

 
Non-GAAP Reconciliation: Adjusted Gross Margin (in millions) Adjusted gross margin as a percent of sales excludes any charges related to restructuring programs and acquisition and integration costs. 16

 
Non-GAAP Reconciliation: Free Cash Flow (in millions) Free Cash Flow is defined as net cash provided by operating activities reduced by capital expenditures, net of the proceeds from asset sales. 17

 
Non-GAAP Reconciliation: Adjusted EBITDA - December 31, 2023 (in millions) EBITDA is defined as net earnings before income tax provision, interest, the loss/(gain) on extinguishment of debt, and depreciation and amortization. Adjusted EBITDA further excludes the impact of the costs related to restructuring, acquisition and integration costs, the settlement loss on US pension annuity buy out, the December 2023 Argentina Economic Reform and share based payments. 18

 
Non-GAAP Reconciliation: Adjusted EBITDA - June 30, 2022 (in millions) EBITDA is defined as net earnings before income tax provision, interest, the loss on extinguishment of debt, and depreciation and amortization. Adjusted EBITDA further excludes the impact of acquisition and integration costs, the costs of exiting the Russian market, Gain on capital lease termination, the loss from the May 2022 Brazil flood damage, an acquisition earn out and share based payments. 19

 
Non-GAAP Reconciliation: Net Debt and Net Leverage (in millions) Net Debt is defined as total Company debt, less cash and cash equivalents. Net leverage is Net debt divided by the last twelve months Adjusted EBITDA. LTM is the last twelve months for June 30, 2022 and December 31, 2023, respectively. 20

 
Non-GAAP Reconciliation: Adjusted EBITDA - December 31, 2023 (in millions) EBITDA is defined as net earnings before income tax provision, interest, the loss/(gain) on extinguishment of debt, and depreciation and amortization. Adjusted EBITDA further excludes the impact of the costs related to restructuring, acquisition and integration costs, the settlement loss on US pension annuity buy out, the December 2023 Argentina Economic Reform and share based payments. 21

 
Non-GAAP Reconciliation: FY 2024 Outlook (in millions – except per share data) ) 22

 
Non-GAAP Reconciliation: FY 2024 Outlook (in millions) 23

 
v3.24.0.1
Cover Page
Feb. 06, 2024
Cover [Abstract]  
Document Type 8-K
Document Period End Date Feb. 06, 2024
Entity Registrant Name Energizer Holdings, Inc.
Entity Incorporation, State or Country Code MO
Entity File Number 1-36837
Entity Tax Identification Number 36-4802442
Entity Address, Address Line One 533 Maryville University Drive
Entity Address, City or Town St. Louis
Entity Address, State or Province MO
Entity Address, Postal Zip Code 63141
City Area Code 314
Local Phone Number 985-2000
Title of 12(b) Security Common Stock, par value $.01 per share
Trading Symbol ENR
Security Exchange Name NYSE
Written Communications false
Soliciting Material false
Pre-commencement Tender Offer false
Pre-commencement Issuer Tender Offer false
Entity Emerging Growth Company false
Entity Central Index Key 0001632790
Amendment Flag false
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