Energizer shares slide about 4% after earnings

Battery maker Energizer Holdings Inc. shares slid 3.8% Wednesday, after the company beat profit estimates for its fiscal second quarter, but only matched the sales consensus. The company said it had net income of $7.8 million, or 13 cents a share, in the quarter, down from $46.9 million, or 75 cents a share, in the year-earlier period. The company took a $31.2 million charge for the one-time affect of the December tax revamp. Adjusted per-share earnings came to 45 cents, ahead of the FactSet consensus of 42 cents. Sales rose 4.3% to $374.4 million, matching the FactSet consensus. The company said it is sticking with its adjusted EPS forecast for 2018 of $3.30 to $3.40 and expects sales to rise in the low single digits. The current FactSet consensus is for EPS of $3.39 and sales growth of about 2.7%. The company is not factoring in a repeat of last year's hurricane activity, which contributed about $26 million to sales and 8 cents to EPS, as consumers rushed to buy batteries ahead of and after the storms. Shares are down 6% in the last 12 months, while the S&P 500 has gained 11%.