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ST. LOUIS, MO - Energizer Holdings, Inc. (NYSE:ENR), a leader in the miscellaneous electrical machinery, equipment, and supplies industry with a market capitalization of $2.49 billion and an attractive 3.49% dividend yield, announced the results of its annual meeting of shareholders, which took place on Thursday, January 24, 2025. According to InvestingPro analysis, the company maintains a GOOD financial health score, supported by liquid assets exceeding short-term obligations.
During the meeting, a quorum was established with 66,126,701 shares represented out of the 72,105,014 shares outstanding and entitled to vote. The shareholders elected management's nominees for director to serve until the Annual Shareholders' Meeting in 2026, with Cynthia J. Brinkley, Rebecca D. Frankiewicz, Kevin J. Hunt, James C. Johnson, Mark S. LaVigne, Patrick J. Moore, Donal L. Mulligan, and Nneka L. Rimmer securing their positions. Robert V. Vitale also retained his position, despite a significant number of votes against his election. The company's strong governance structure complements its solid financial position, with InvestingPro data showing a healthy current ratio of 1.8 and expectations for net income growth this year.
Additionally, the appointment of PricewaterhouseCoopers LLP as the company's independent registered public accounting firm for fiscal 2025 was ratified with an overwhelming majority of shareholder approval.
A non-binding advisory vote on the company's executive compensation passed, indicating shareholder support for Energizer's executive pay structures.
However, a shareholder proposal regarding a director election resignation governance policy did not receive approval, with a substantial majority voting against it.
The meeting concluded with no further items requiring shareholder action. The detailed results of the votes are part of the company's 8-K filing with the Securities and Exchange Commission. Investors looking ahead should note that Energizer's next earnings report is scheduled for February 4, 2025. For comprehensive analysis and additional insights, including seven more exclusive ProTips and detailed financial metrics, visit InvestingPro, where you can access the complete Pro Research Report for ENR along with 1,400+ other US stocks.
Energizer Holdings, Inc. is headquartered at 8235 Forsyth Boulevard, Suite 100, St. Louis, Missouri, and operates under the IRS identification number 364802442. This news summary is based on a press release statement.
In other recent news, Energizer Holdings Inc. reported strong fourth-quarter earnings and revenue results. The company posted adjusted earnings per share of $1.22 and revenue of $805.7 million, surpassing analysts' expectations. For the full fiscal year 2024, Energizer reported an adjusted EPS of $3.32, a 7% increase from the previous fiscal year, despite a 2.5% decline in revenue to $2.89 billion.
The company's future projections for fiscal year 2025 include an organic revenue increase of 1% to 2%, and an adjusted EPS range of $3.45 to $3.65. Analyst firms Canaccord Genuity, JPMorgan, Evercore ISI, and Truist Securities have all recently provided updates on Energizer, with Canaccord Genuity maintaining a Hold rating but increasing the price target to $36. JPMorgan upgraded Energizer stock from Underweight to Neutral, while Evercore ISI and Truist Securities reaffirmed their positive ratings.
These updates were based on Energizer's improved sales prospects and expected steady performance in both revenue and earnings. The company also managed to reduce its net leverage to 4.9 times in fiscal 2024, aided by a $200 million debt pay down and adjusted EBITDA growth. These are the recent developments in Energizer Holdings Inc.
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