What Happened?
Shares of battery and lighting company Energizer (NYSE:ENR) jumped 13.1% in the morning session after the company reported impressive third-quarter results, which beat Wall Street's organic revenue and EBITDA estimates. The top-line growth was broad-based, with increased volume in the Battery and Auto Care segments. This helped the company's growth story as sales growth turned slightly positive compared to the same period last year.
Looking ahead, the company provided encouraging guidance, forecasting fiscal 2025 organic revenue growth of 1% to 2%. Adjusted EBITDA for the same period also came in ahead of Wall Street's expectations. Overall, this was an impressive quarter, highlighting top and bottom-line improvements.
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What The Market Is Telling Us
Energizer’s shares are not very volatile and have only had 3 moves greater than 5% over the last year. Moves this big are rare for Energizer and indicate this news significantly impacted the market’s perception of the business.
Energizer is up 19.4% since the beginning of the year, and at $37.95 per share, has set a new 52-week high. Investors who bought $1,000 worth of Energizer’s shares 5 years ago would now be looking at an investment worth $794.92.
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