Energizer narrows FY24 adjusted EPS view to $3.20-$3.30 from $3.10-$3.30

Consensus $3.20. Narrows FY24 adjusted EBITDA view to $610M-$620M from $600M-$620M. The company said, “Our third quarter organic Net sales were within our guidance of up approximately 1%, while Project Momentum savings resulted in Adjusted gross margin and Adjusted earnings per share ahead of expectations. For fiscal 2024, we expect organic revenue to be down roughly 2%. We also expect Adjusted EBITDA to be in the range of $610 million to $620 million and Adjusted earnings per share to be in the range of $3.20 to $3.30. For the fourth quarter, we expect organic revenue to be roughly flat and Adjusted earnings per share to be in the range of $1.10 to $1.20. Project Momentum total savings have increased and now are expected to be in the range of $180 to $200 million over the life of the program. Cash costs to achieve these savings over this same period are expected to be $150 to $170 million. For fiscal year 2024, savings are expected to be in the range of $80 to $90 million with one-time cash costs to achieve between $70 to $80 million.”