Energizer Holdings Inc. (NYSE:ENR) saw its shares plunge 18% intra-day on Tuesday after the company posted fourth-quarter adjusted earnings that fell short of analyst forecasts, even as revenue slightly exceeded expectations.

The company reported adjusted earnings of $1.05 per share, missing the analyst consensus of $1.17 by 10.3%. Revenue totaled $832.8 million, marginally above expectations of $830.45 million. Organic net sales decreased 2.2% from the prior-year period due to softer consumer demand, particularly in North America.

Adjusted gross margin contracted sharply to 38.5%, down 370 basis points from the same quarter a year earlier. Energizer attributed the decline to increased input costs tied to production inefficiencies, higher warehousing and distribution expenses, and rising tariff-related costs.

For fiscal 2026, the company projected flat to slightly positive organic net sales growth and guided for adjusted earnings per share of $3.30 to $3.60. Energizer warned that the first quarter would be challenging, forecasting a high single-digit decline in organic net sales and adjusted EPS of $0.20 to $0.30.