Energizer (ENR) Stock Plummets After Earnings Miss
NEW YORK (TheStreet) -- Energizer Holdings (ENR) - Get Reportstock is falling 8.67% to $36.12 on heavy trading volume on Thursday, after the battery manufacturer reported 2015 fourth quarter earnings results that missed analysts' expectations.
Before the market open on Thursday, Energizer reported earnings of 61 cents per share for the quarter. Revenue declined to $399.1 million, compared to $486.7 million in the year ago-period.
Analysts were expecting Energizer to report earnings of 65 cents per share on revenue of $385 million.
The St. Louis-based company split with its parent company Edgewell Personal Care (EPC) earlier this year.
"We delivered solid results while executing a very complex spin-off transaction and facing unprecedented foreign currency headwinds that had a significant impact on our top and bottom lines," CEO Alan Hoskins said in a statement. "Despite these challenges, the underlying fundamentals of the business are improving as we continue to see signs of stabilization within the battery category and we increased our value market share in the latest 52 weeks."
So far today, 2.12 million shares of Energizer have traded, versus its 30-day average of about 398,000 shares.
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