Energizer Holdings, Inc.

Good morning. My name is Kelsey, and I'll be your conference operator for today's call. At this time, I would like to welcome everyone to the Energizer's third fiscal year 2026 conference call. Please note that at this time, all lines are in listening mode, and following the presentation, we will conduct a question and answer session. If at any time during this call you require immediate assistance, please star zero for the operator. This event is being recorded Tuesday, August 4th, 2026. I would now like to turn the conference call over to Mr. John Poldan, Vice President, Global Finance Treasurer in Investor Relations. Please go ahead.

Good morning and welcome to Energizer's third quarter fiscal 2026 conference call. Joining me today are Mark LaVigne, President and Chief Executive Officer, and John Drabik, Executive Vice President and Chief Financial Officer. In just a moment, Mark will share a few opening comments and then we'll take your questions. A replay of this call will be available on the investor relations section of our website, energizerholdings.com. In addition, please note that our earnings release, prepared remarks, and a slide deck are also posted on our website. During the call, we will make forward-looking statements about the company's future business and financial performance, among other matters. These statements are based on management's current expectations and are subject to risks and uncertainties which may cause actual results to differ materially from these statements. We do not undertake to update these forward-looking statements. Other factors that could cause actual results to differ materially from these statements are included in reports we file with the SEC. We also refer in our presentation to non-GAAP financial measures. Reconciliation of Non-GAAP Financial Measures to Comparable GAAP Measures is shown in our press release issued earlier today, which is available on our website. Information concerning our categories and estimated market share discussed on this call relates to the categories where we compete and is based on Energizer's internal data, data from industry analysis, and estimates we believe to be reasonable. The battery category information includes both brick and mortar and e-commerce retail sales. Unless otherwise noted, all comments regarding the quarter and year pertain to Energizer's fiscal year, and all comparisons to prior year relate to the same period in fiscal 2025. With that, I would like to turn the call over to Mark.

Good morning, and thanks for joining us today. As in prior quarters, we've posted prepared remarks on our website that provide a detailed review of our third quarter performance and our outlook. But I wanted to begin with a few brief comments. As we move through fiscal 2026, our priorities remain centered on strengthening the earnings power of the business, generating strong free cash flow, and continuing to improve our balance sheet. In the third quarter, we delivered organic growth across both batteries and lights and auto care, while sustaining the margin recovery achieved since the beginning of the year. These results reflect the actions we've taken over multiple years to strengthen our brand Thank you for joining us today. At the same time, Project Momentum has improved our operational flexibility and positioned us to navigate a range of operating environments while maintaining a focus on profitability and cash generation. Looking ahead, we remain confident in our strategy and the actions already underway across the business. We expect strong fourth quarter earnings growth to be supported by productivity initiatives, supply chain optimization, and the work we have done throughout the year to strengthen the profitability of the business. We believe these actions position us well to continue creating value through strong free cash flow generation and disciplined capital allocation. Thank you for your continued interest in Energizer. And with that, let's open the call for questions.