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Energizer Battery Business Review

Apr. 23, 2022 12:44 AM ETEnergizer Holdings, Inc. (ENR)3 Comments
Robert Altabet profile picture
Robert Altabet


  • The alkaline category is healthy, showing much more positive trend than we saw pre-pandemic, and is settling down to modest volume growth.
  • Focus on 3-year CAGR growth to take us back to comparisons with pre-pandemic levels at +1.2% annually.
  • Pricing has already been announced which should allow maintenance of margins. Significant commodity increases, especially in Zinc, and the increasing general inflation environment will necessitate new pricing by Energizer.
  • Energizer has been the leading brand in the U.S. for alkaline since mid-2020. They can have an even bigger margin of win if we include their lithium business, which has cell sizes competitive with alkaline and which can possibly put them in the lead several months earlier.
  • The stock has been oversold and should be a good opportunity up to a price of about $39.

Energizer Bunny Hot Air Balloon at Sunrise over Tree Topd

Energizer Bunny Heading Higher

ElementalImaging/iStock Unreleased via Getty Images

US Market Data Through 3/26/2022

Category Health: Alkaline volume and pricing trends

Pricing is strong going into the new year, finally reflecting the sell-through of the Energizer (NYSE:ENR) and

This article was written by

Robert Altabet profile picture
Since 2002, I have been the owner of a consulting business, Alpha Beta Planning, that specializes in the areas of business development and planning as well as sales and market forecasting. I also provide marketing and forecasting due diligence for investors in the private capital markets. I am an  Advisory Board Member for BWG Strategy, consulting on battery related companies. I am a former Vice-President, Business Management at Duracell Batteries where I spent 28 years with experience that included extensive work in new product development and licensing, marketing management, market research and sales forecasting as well stints in manufacturing and financial planning.

Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

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Comments (3)

The dividend is $1.2 annually. The required rate of return for a stock should be at least 15%. The dividend won't grow because earnings growth has stalled.

1.2/.15 = 8$

The stock is worth 8$. The company is worth something else, but with no exciting areas of growth for the company, how will it increase its own value?
On my watch list but as you stated, "not a need to have stock".
Willow Street Investments profile picture
Paid $45 for enr in 2017...this stock has been terrible.
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