Energizer Falls After Forecast Trails Analysts' Estimatesby
Energizer Holdings Inc. fell 9 percent after its annual forecast trailed analysts’ estimates, hurt by unfavorable foreign-exchange rates.
Earnings in the year through September 2016 will be $1.90 to $2.10 a share, the St. Louis-based company said Thursday in a statement. Analysts projected $2.49, on average.
Energizer spun itself off from its former personal-care business, now called Edgewell Personal Care Co., about five months ago. The company, which now focuses entirely on batteries and lighting products, gets about half of its revenue from outside of North America, making the effect of the strong dollar more acute.
The shares slid $3.59 to $36.08 in New York.