Energizer Holdings, Inc. has reported its fiscal 2025 fourth quarter and full year results, along with the financial outlook for fiscal 2026. The company's net sales increased by 3.4% to $832.8 million in the fourth quarter, driven by acquisition net sales of $42.8 million, partially offset by an organic net sales decline of 2.2%. For the full fiscal year, net sales increased by 2.3% to $2,952.7 million, with organic net sales growth of 0.7%.
The gross margin percentage on a reported basis for the fourth fiscal quarter was 36.6%, down from 38.1% in the prior year quarter. For fiscal 2025, the reported gross margin percentage was 41.7%, compared to 38.3% in the prior year. Excluding certain costs and credits, the adjusted gross margin for fiscal 2025 was 38.5%, showing a decline from the prior year's 40.9%.
Selling, general, and administrative expenses (SG&A) for the fourth fiscal quarter accounted for 15.4% of net sales, amounting to $128.2 million, compared to 15.3% of net sales, or $123.0 million, in the prior year. For fiscal 2025, SG&A was $495.5 million, representing 16.8% of net sales, compared to $473.1 million, or 16.4% of net sales, in the prior year.
In terms of earnings, net earnings for the fourth quarter were $34.9 million, with diluted net earnings per common share of $0.50. Adjusted net earnings for the same period were $72.8 million, with adjusted diluted net earnings per common share of $1.05. For the full fiscal year, net earnings were $239.0 million, with diluted net earnings per common share of $3.32. Adjusted net earnings for the full year were $253.1 million, with adjusted diluted net earnings per common share of $3.52.
The company's financial outlook for fiscal 2026 anticipates flat to slightly up organic net sales in both batteries and lights and auto care. Gross margin is expected to modestly decline, and adjusted earnings per share for the full year are projected to be in the range of $3.30 to $3.60, with adjusted EBITDA in the range of $580 million to $610 million.
Energizer Holdings, Inc. reported operating cash flow of $147.1 million for fiscal 2025, with free cash flow of $63.2 million, representing 2.1% of net sales. The company repurchased 1.2 million shares of common stock for $27.1 million during the fourth fiscal quarter and paid dividends of $21.3 million. Additionally, the company refinanced $500.0 million of existing debt during the fourth quarter and received a tax refund of $50.7 million subsequent to year-end.
The company's full press release is available on its website, along with additional information and supplemental schedules. Today the company's shares have moved -16.65% to a price of $19.88. For the full picture, make sure to review ENERGIZER HOLDINGS, INC.'s 8-K report.
