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Energizer held private sell-side call-analysts

Wed Nov 4, 2009 10:08pm IST
 
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* Energizer gives rare profit guidance in quarterly report

* Energizer's shares plunge after report

* Company spoke to sell-side analysts after market close

* Shares up 2 percent after Tuesday's decline

By Jessica Wohl

CHICAGO, Nov 4 (Reuters) - Energizer Holdings Inc (ENR.N: Quote, Profile, Research) clarified its 2010 forecast on Tuesday afternoon, but only a select group of sell-side analysts got to hear the battery maker explain the outlook it issued earlier in the day.

Energizer does not usually hold conference calls or give earnings forecasts when it releases results.

The company reported its fiscal fourth-quarter results just after 8 a.m. EST (1300 GMT) on Tuesday. In its press release, Energizer said investments and an expected improvement in consumer spending should allow it "to return to double digit growth in net earnings and single digit growth in earnings per share in 2010."

The fourth-quarter results and the 2010 forecast fell short of analysts' expectations and shares of Energizer fell as much as 12.7 percent in heavy trading, before ending Tuesday's session down 10 percent. [ID:nN03426639]  Continued...

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