(RTTNews) - Battery manufacturer Energizer Holdings, Inc. (ENR) on Tuesday reported lower first-quarter earnings, as a decline in revenue and higher one-off items weighed on profitability.
Net income fell to $10.1 million, or $0.15 per share, from $28.3 million, or $0.39 per share in the prior-year quarter, impacted by a $25.6 million settlement loss related to the termination of a U.K. pension plan.
Excluding one-time items, earnings increased to $65.1 million or $0.94 per share from $49.4 million or $0.67 per share a year earlier.
Net sales declined to $643.3 million from $662.9 million a year ago.
For the full year, the company now expects adjusted earnings per share to be at the high end of its previously provided range of $3.30 to $3.60, supported by the benefit of a tariff refund.
For the third quarter, adjusted EPS is expected between $0.75 and $0.85.
Energizer shares were gaining more than 2% in pre-market trading after closing at $19.34 on Monday.
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