Battery and lighting company Energizer (NYSE: ENR) announced better-than-expected revenue in Q3 CY2025, with sales up 3.4% year on year to $832.8 million. On the other hand, next quarter’s revenue guidance of $695.1 million was less impressive, coming in 8.9% below analysts’ estimates. Its non-GAAP profit of $1.05 per share was 9.8% below analysts’ consensus estimates.
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Energizer (ENR) Q3 CY2025 Highlights:
- Revenue: $832.8 million vs analyst estimates of $826.3 million (3.4% year-on-year growth, 0.8% beat)
- Adjusted EPS: $1.05 vs analyst expectations of $1.16 (9.8% miss)
- Adjusted EBITDA: $171.2 million vs analyst estimates of $178.9 million (20.6% margin, 4.3% miss)
- Revenue Guidance for Q4 CY2025 is $695.1 million at the midpoint, below analyst estimates of $763 million
- Adjusted EPS guidance for the upcoming financial year 2026 is $3.45 at the midpoint, missing analyst estimates by 7.4%
- EBITDA guidance for the upcoming financial year 2026 is $595 million at the midpoint, below analyst estimates of $640.3 million
- Operating Margin: 11.3%, down from 12.4% in the same quarter last year
- Free Cash Flow Margin: 5.6%, down from 17.6% in the same quarter last year
- Organic Revenue fell 2.2% year on year vs analyst estimates of flat growth (144.8 basis point miss)
- Market Capitalization: $1.63 billion
"Energizer delivered strong earnings in Fiscal 2025 by staying agile and focused in a volatile environment," said Mark LaVigne, Chief Executive Officer.
Company Overview
Masterminds behind the viral Energizer Bunny mascot, Energizer (NYSE: ENR) is one of the world's largest manufacturers of batteries.
Revenue Growth
Reviewing a company’s long-term sales performance reveals insights into its quality. Any business can put up a good quarter or two, but many enduring ones grow for years.
With $2.95 billion in revenue over the past 12 months, Energizer carries some recognizable products but is a mid-sized consumer staples company. Its size could bring disadvantages compared to larger competitors benefiting from better brand awareness and economies of scale.
As you can see below, Energizer’s revenue declined by 1.1% per year over the last three years, a rough starting point for our analysis.
This quarter, Energizer reported modest year-on-year revenue growth of 3.4% but beat Wall Street’s estimates by 0.8%. Company management is currently guiding for a 5% year-on-year decline in sales next quarter.
Looking further ahead, sell-side analysts expect revenue to grow 2.8% over the next 12 months. While this projection implies its newer products will spur better top-line performance, it is still below the sector average.
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Organic Revenue Growth
When analyzing revenue growth, we care most about organic revenue growth. This metric captures a business’s performance excluding one-time events such as mergers, acquisitions, and divestitures as well as foreign currency fluctuations.
The demand for Energizer’s products has barely risen over the last eight quarters. On average, the company’s organic sales have been flat. 
In the latest quarter, Energizer’s organic sales fell by 2.2% year on year. This decrease represents a further deceleration from its historical levels. We hope the business can get back on track.
Key Takeaways from Energizer’s Q3 Results
It was good to see Energizer narrowly top analysts’ revenue expectations this quarter. On the other hand, its gross margin missed and its EPS guidance for next quarter fell short of Wall Street’s estimates. Overall, this was a weaker quarter. The stock traded down 5.4% to $22.57 immediately after reporting.
Energizer may have had a tough quarter, but does that actually create an opportunity to invest right now? The latest quarter does matter, but not nearly as much as longer-term fundamentals and valuation, when deciding if the stock is a buy. We cover that in our actionable full research report which you can read here, it’s free for active Edge members.
