ENERGIZER HOLDINGS INC
10-Q/A, 2000-05-15
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                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                    FORM 10Q

                QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE
                         SECURITIES EXCHANGE ACT OF 1934

                        For Quarter Ended March 31, 2000

                          Commission File No. 001-15401


                            ENERGIZER HOLDINGS, INC.
           -----------------------------------------------------------
             (Exact name of registrant as specified in its charter)

                        MISSOURI               43-1863181
          ------------------------------------------------------------
        (State of Incorporation)     (I.R.S. Employer Identification No.)

                  CHECKERBOARD SQUARE, ST. LOUIS MISSOURI 63164
          ------------------------------------------------------------
             (Address of principal executive offices)     (Zip Code)

                                 (314) 982-2000
          ------------------------------------------------------------
              (Registrant's telephone number, including area code)


Registrant (1) has filed all reports required to be filed by Section 13 or 15(d)
of  the  Securities Exchange Act of 1934 during the preceding 12 months, and (2)
has  been  subject  to  such  filing  requirements  for  the  past  90  days.

                         YES:   X     NO:  _____
                              ----

Number  of  shares  of  Energizer  Holdings,  Inc. common stock, $.01 par value,
outstanding  as  of  the  close  of  business  on  May  8,  2000.

                                       95,552,711
                                   ------------------

PART  I  -     FINANCIAL  INFORMATION



                             ENERGIZER HOLDINGS INC.
          MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL INFORMATION
                              (DOLLARS IN MILLIONS)

BUSINESS  OVERVIEW
     Primary  battery  market sales increased for the six months ended March 31,
2000,  particularly in the U.S., reflecting continuing electronic device growth,
retail promotional emphasis and Y2K preparedness demand.  Primary battery market
sales in the three months ended March 31, 2000 were up slightly, but reflect the
overall  category adjustment in growth rates due to consumer stockpiling in late
1999.  A.C.  Nielsen measured the U.S. primary battery market up 16% for the six
months  and  2%  for  the  three  months ended April 1, 2000.  Other world areas
experienced  similar  volume  trends.

OPERATING  RESULTS
     Net  earnings  for the six months ended March 31, 2000 were $121.6 compared
to  a  loss  of  $3.0 for the six months ended March 31, 1999.  Current year net
earnings  include  a  net gain on disposition of discontinued operations of $1.2
related  to  the final settlement of the sale of discontinued operations.  Prior
year  results  include a net loss from discontinued operations of $5.6 and a net
loss on disposition of discontinued operations of $74.2. Discontinued operations
results  are related to the Original Equipment Manufacturers' (OEM) rechargeable
battery  business  sold  on  November  1,  1999,  as  discussed  below.

     Earnings  from continuing operations were $120.4 for the current six months
compared  to  $76.8  in  the prior year six months.  Included in the current six
months earnings from continuing operations are one-time after-tax spin-off costs
of  $3.3,  a  pre-tax  loss  of  $15.7 on the disposition of Energizer's Spanish
affiliate  and  related  capital  loss  tax  benefits  of  $24.4.  Earnings from
continuing operations for the six months last year include pre-tax and after-tax
provisions  for  restructuring  of $6.0 and $6.1, respectively.  Excluding these
items,  earnings  from  continuing operations would have been $115.0 compared to
$82.9  last  year,  an  increase  of  39%.

     For the quarter ended March 31, 2000, net earnings were $16.9 compared to a
net  loss  of  $55.0 for the same quarter in 1999.  Net earnings for the current
quarter  include  the  aforementioned  $1.2  net  gain  on  the  disposition  of
discontinued  operations,  $3.3  after-tax  spin-off  costs,  $15.7  loss on the
disposition  of  Energizer's  Spanish  affiliate  and  $24.4 of capital loss tax
benefits.  Net  earnings  for  the  prior year second quarter include a net loss
from  discontinued  operations  of  $2.8  and  a  net  loss  on  disposition  of
discontinued  operations  of $74.2.  Earnings from continuing operations, before
the  unusual  items discussed above, decreased $11.6, or 53%, for the quarter to
$10.3,  compared  to  $21.9  in  the  prior  year  second  quarter.

     Net  sales  for the six months ended March 31, 2000 increased $45.4, or 5%.
Increased  volumes, especially in Energizer brand products, contributed $93.6 in
sales,  partially  offset  by  unfavorable  pricing and product mix of $30.6 and
unfavorable  currency  impacts  of $17.7.  Strong sales in the North America and
Asia  Pacific  segments  for  the quarter ended December 31, 1999 benefited from
significantly  higher  demand  driven by Y2K preparedness concerns and increased
market  share  in  key  countries.  For  the quarter ended March 31, 2000, sales
decreased  $45.8,  or  11%,  with  North  America,  Europe and South and Central
America  all  declining  as  described  in  the  Segment  Results section below.

     Gross  margin  for the current six months increased $57.4 leveraging higher
volumes  and  benefiting  from  lower  production costs after the closure of two
plants  in 1999.  Gross margin percentage increased from 46.7% in the six months
last  year  to 50.2% this year.  For the quarter, gross profit declined $16.7 on
lower  sales.  Gross margin percentage improved from 45.4% to 46.5% on the lower
production  costs  discussed  above.

SEGMENT  RESULTS
     Operations  are  managed  via  four  major  geographic areas--North America
(which  includes  the  U.S.  and  Canada),  Asia  Pacific, Europe, and South and
Central  America  (including  Mexico).  This  structure  is  the  basis  for the
Company's reportable operating segment information, as included in the tables in
Note 7 to the Combined Financial Statements for the period ended March 31, 2000.

  North  America
     Net  sales  to customers for North America increased $56.3, or 11%, for the
current six months.  Volume increases accounted for $88.0 of the sales increase,
partially offset by unfavorable pricing and product mix.  For the quarter, sales
decreased  $34.2,  or  17%,  with  volume  accounting  for $29.7 of the decline.
Significant  volume gains in the first quarter driven by strong Y2K preparedness
buying and retail promotional emphasis were eroded by soft volumes in the second
quarter  as  retail  customers  worked through remaining stocks from accelerated
first  quarter  buying.

     The  second  quarter  comparison  was also negatively impacted by unusually
high  promotional  activity  at  the  wholesale level in the second quarter last
year.  At  the consumer level, sales remained strong in the quarter as Energizer
brand  product  sales  increased  9%,  as measured by A. C. Nielsen, compared to
overall  alkaline  battery market growth of 3%.  Energizer share, as measured by
A.  C.  Nielsen,  increased  1.6  share  points  to  32.4  during  the  quarter.

     Segment  profit  for  the six months increased $22.8, or 16%.  Gross margin
increased  $37.0,  benefiting  from  higher sales and leveraging of fixed costs.
For  the quarter, segment profit decreased $22.2, or 47%.  Gross margin declined
$20.0  on lower sales.  Marketing and distribution costs increased $8.7 and $3.7
in  the  six  months  and quarter, respectively, in support of enhanced focus on
share growth.  Advertising and promotion expense increased $10.0 and $1.9 in the
six  months  and  quarter,  respectively.

  Asia  Pacific
     Net  sales  to  customers  for Asia Pacific increased $13.7, or 7%, for the
current  six months.  Increased volume contributed $12.4 of the increase.  Sales
for the quarter were flat as volume increases of $4.3 were offset by unfavorable
pricing  and  mix  and  currency  exchange  rates.

     Segment  profit  for  the six months increased $12.7, or 26%.  Gross margin
increased  $16.3  on  higher sales and lower production costs.  Other costs were
favorable compared to the prior six months which contained plant start up costs.
Advertising  and  promotion  expenses  increased  $3.5,  primarily  in the first
quarter.  For  the  current quarter, segment profit increased $.6, or 3%.  Lower
product  cost  contributed  $4.1,  partially  offset by higher management costs.

  South  and  Central  America
     Net  sales  to customers for South and Central America decreased $2.5 or 3%
for the current six months.  Unfavorable currency effects of $4.5 were partially
offset  by  favorable  pricing  and product mix.  Sales for the quarter declined
$4.0,  or  12%  on  unfavorable currency effects of $2.4 and volume decreases of
$1.8.

     Segment profit for the six months increased $1.2 or 15%.  Favorable pricing
and product mix of $2.4 and lower product costs of $3.4 were partially offset by
unfavorable  currency  impact  of  $3.4  and  higher  management costs.  For the
quarter,  segment  profit  increased $1.3, or 93% as lower product costs of $3.8
were  partially  offset  by  unfavorable  currency  impact  of  $1.8  and higher
management  costs.

  Europe
     Net  sales  to  customers  for  Europe  decreased $22.1, or 12% for the six
months  and  $7.8,  or  10% for the quarter.  Currency devaluation accounted for
$16.5  and $9.1 of the decline in the six months and quarter, respectively.  The
remainder  of  the  decrease in the six months resulted from lower volume in the
first  quarter.

     Segment  profit  for  the  six  months and quarter increased $8.6 and $2.8,
respectively, primarily related to lower costs associated with plant closing and
other  business  realignment  activities.  Unfavorable  impacts  of  currency
devaluation  were  substantially  offset  by  lower  overhead  costs.

CORPORATE  EXPENSES
     Corporate  expenses  decreased  $4.3  in  the  six months on higher pension
income  and  lower  information  systems  spending,  partially  offset by higher
management  costs.  In  the  quarter,  corporate  costs increased $3.1 on higher
management  costs  and  unfavorable comparisons on mark-to-market adjustments of
liabilities denominated in Ralston share equivalents, partially offset by higher
pension  income.

COSTS  RELATED  TO  SPIN  OFF
     During  the quarter and six months ended March 31, 2000, Energizer recorded
one-time  spin  related  costs of  $5.5 pre-tax, or $3.3 after-tax.  These costs
include  legal  fees,  charges  related  to  the vesting of certain compensation
benefits,  and  other  costs  triggered  by  or  associated  with  the spin-off.

LOSS  ON  DISPOSITION  OF  SPANISH  AFFILIATE
     During  the quarter and six months ended March 31, 2000, Energizer recorded
a  $15.7  pre-tax  loss  on  the  sale of its Spanish affiliate.  The loss was a
non-cash  write-off  of  goodwill  and  cumulative  translation  accounts of the
Spanish  affiliate.  Ralston recognized capital loss tax benefits related to the
Spanish  sale  of $24.4, which are reflected in Energizer's historical financial
statements  and  resulted  in  a  net  after-tax  gain  of  $8.7  on the Spanish
transaction.

RESTRUCTURING  CHARGES
     During  the  six-month  period ended March 31, 1999, Energizer recorded net
after-tax  and  pre-tax  provisions  for  restructuring  of  $6.1  and  $6.0,
respectively.  The  charges  were primarily termination benefits associated with
the  1997  alkaline  and  carbon  zinc production restructuring plan for Europe.

     During  the  six  month  period  ended  March  31,  2000, approximately 160
employees  were terminated in connection with restructuring accruals established
in  prior  years.  Except  for  disposition of certain assets held for disposal,
substantially  all actions associated with the 1997 and 1999 restructuring plans
have  been  completed  as  of  March  31,  2000.  Activities  impacting  the
restructuring  reserve  during  the  six  months  are presented in Note 6 to the
Combined  Financial  Statements.

INCOME  TAXES
     Income taxes, which include federal, state and foreign taxes, were 29.0% of
earnings from continuing operations in the current six months, compared to 43.0%
in  the  six months last year.  Income taxes for the current six months includes
capital  loss  benefits  related  to the sale of the Spanish affiliate discussed
above of $24.4.  The prior six months includes restructuring provisions of $6.0,
which  reflect no tax benefit due to particular tax statutes in those countries.
Absent  these  unusual  items,  the tax rate for the current and prior six-month
periods  would have been 39.7% and 41.1%, respectively.  The decrease in the tax
rate  is  due  primarily  to  a  favorable mix of foreign and domestic earnings.

DISCONTINUED  RECHARGEABLE  OEM  BATTERY  BUSINESS
     Discontinued  operations  consist  of  Energizer's  worldwide  rechargeable
Original  Equipment  Manufacturers'  (OEM) battery business.  In March 1999, the
Board  of  Directors  of  Ralston Purina Company announced its intention to exit
this  business  to allow Energizer to focus on its primary battery business.  On
November  1,  1999,  this  business  was  sold  to  Moltech  Corporation  for
approximately  $20.0.  Actual  pretax  operating  losses  during  the divestment
period  through  the  sale  date  totaled  $15.9.

FINANCIAL  CONDITION
     Cash  flow  from  continuing operations was $178.4 for the six months ended
March  31,  2000  compared  to  $169.5  for the same period in fiscal 1999.  The
increase  in cash flows is attributable to higher cash earnings partially offset
by  lower  cash  flows  from  seasonal  reductions of operating working capital.

     Immediately  prior to the spin-off, Ralston borrowed $478.0 through several
interim  funding  facilities  and  assigned  all  repayment obligations of those
facilities  to  Energizer.  Subsequent to March 31, 2000, Energizer replaced the
interim  funding  facilities  with  the  following:  private  placement notes of
$175.0  with maturities of 3 to 10 years; borrowings of $225.0 under a five-year
revolving  credit facility; a $65.0 receivable securitization program; and $13.0
of  other  borrowings. The average interest rate on the short-term and long-term
debt  is  approximately 6.7% and 7.2%, respectively. Approximately $236.0 of the
long-term debt has a variable interest rate. The interest rates on the long-term
debt  range  from  6.7%  up  to  8%.  Energizer  maintains  total committed debt
facilities  of  $834.0,  of  which  $358.0  remained  available  following  the
transactions  described  above.  Under the terms of the facilities, the ratio of
Energizer's  total indebtedness to its EBITDA cannot be greater than 3:1 and the
ratio  of  its  EBIT  to  total  interest  expense  must  exceed  3:1.

     Capital expenditures totaled $30.7 and $33.3 for the six months ended March
31, 2000 and 1999, respectively.  Net transactions with Ralston resulted in cash
usage  of  $230.2  and  $153.9  in the six months ended March 31, 2000 and 1999,
respectively. Working capital was $355.5 at March 31, 2000 compared to $478.1 at
September  30, 1999, reflecting seasonal reductions in operating working capital
and  higher  debt  levels.

MARKET  RISK
     Energizer  has  interest  rate  risk  with  respect  to interest expense on
variable  rate  debt.  A  hypothetical  10% adverse change in all interest rates
would  have an annual unfavorable impact of $1.6 on Energizer's net earnings and
cash  flows  based  on  current  debt  levels.

FORWARD-LOOKING  STATEMENTS
     Statements  in  this document that are not historical, including statements
as  to  the  continuing  availability  of credit facilities, are forward-looking
statements within the meaning of the Private Securities Litigation Reform Act of
1995.  Energizer  cautions  readers  not  to  place  undue  reliance  on  any
forward-looking  statements,  which  speak  only  as  of  the  date  made.

     Energizer advises readers that various risks and uncertainties could affect
its  financial performance and could cause Energizer's actual results for future
periods  to  differ materially from those anticipated or projected.  Energizer's
ability  to  maintain  compliance  with its debt covenants, including the ratios
described  under "Financial Condition", as well as changes in its operating cash
flows,  could  limit its ability to meet future operating expenses, fund capital
expenditures  and  service  its  debt  as  it becomes due.  Additional risks and
uncertainties  include  those detailed from time to time in Energizer's publicly
filed  documents,  including  Energizer's  Registration Statement on Form 10, as
amended,  and  its  current  report  on  Form  8-K  dated  April  25,  2000.

<TABLE>
<CAPTION>

                                  ENERGIZER HOLDINGS, INC.
                                COMBINED STATEMENT OF EARNINGS
                                         (CONDENSED)
                               (DOLLARS IN MILLIONS--UNAUDITED)


                                             QUARTER ENDED     SIX MONTHS ENDED
                                               MARCH 31,            MARCH 31,
                                             2000     1999       2000       1999
                                             ----     ----       ----       ----

<S>                                          <C>      <C>      <C>        <C>
Net Sales                                    $359.9   $405.7   $1,033.5   $988.1
                                             -------  -------  ---------  -------

Costs and Expenses
  Cost of products sold                       192.6    221.7      514.8    526.8
  Selling, general and administrative          99.2    100.1      194.8    201.1
  Advertising and promotion                    33.9     33.3      101.5     92.3
  Research and development                     14.2     12.6       26.1     23.6
  Costs related to spin-off                     5.5        -        5.5        -
  Loss on disposition of Spanish affiliate     15.7        -       15.7        -
  Restructuring provisions (reversals)            -     (0.1)         -      6.0
  Interest expense                              2.9      0.7        5.5      3.5
                                             -------  -------  ---------  -------
                                              364.0    368.3      863.9    853.3
                                             -------  -------  ---------  -------

Earnings (loss) from Continuing Operations
   before Income Taxes                         (4.1)    37.4      169.6    134.8
Income Taxes                                   19.8    (15.4)     (49.2)   (58.0)
                                             -------  -------  ---------  -------

Earnings from Continuing Operations            15.7     22.0      120.4     76.8

Net Loss from Discontinued Operations             -     (2.8)         -     (5.6)

Net Gain (Loss) on Disposition of
   Discontinued Operations                      1.2    (74.2)       1.2    (74.2)
                                             -------  -------  ---------  -------
Net Earnings (Loss)                          $ 16.9   $(55.0)  $  121.6   $ (3.0)
                                             =======  =======  =========  =======

<FN>

            See accompanying Notes to Condensed Financial Statements.
</TABLE>

<TABLE>
<CAPTION>

                            ENERGIZER HOLDINGS, INC.
                             COMBINED BALANCE SHEET
                                   (CONDENSED)
                        (DOLLARS IN MILLIONS - UNAUDITED)

                                                            MARCH 31, SEPTEMBER 30,
                                                              2000        1999
                                                              ----        ----
<S>                                                           <C>       <C>
ASSETS

Current Assets
  Cash and cash equivalents                                   $   18.1  $   27.8
  Trade receivables, less allowance for doubtful
    accounts of $20.6 and $19.3, respectively                    356.7     441.9
  Inventories
    Raw materials and supplies                                    65.4      74.0
    Work in process                                               89.4      80.5
    Finished products                                            257.1     228.5
                                                              --------  --------
      Total Inventory                                            411.9     383.0
  Other current assets                                            93.3     121.3
                                                              --------  --------
    Total Current Assets                                         880.0     974.0
                                                              --------  --------

Investments and Other Assets                                     326.3     319.7

Net Investment in Discontinued Operations                            -      67.2

Property at Cost                                               1,005.9   1,010.1
  Accumulated depreciation                                       536.2     537.3
                                                              --------  --------
                                                                 469.7     472.8
                                                              --------  --------
      Total                                                   $1,676.0  $1,833.7
                                                              ========  ========


LIABILITIES AND NET INVESTMENT IN ENERGIZER

Current Liabilities
  Current maturities of long-term debt                        $    0.3  $    0.3
  Notes payable                                                  185.8     118.5
  Accounts payable                                               123.8     128.6
  Other current liabilities                                      214.6     248.5
                                                              --------  --------
    Total Current Liabilities                                    524.5     495.9

Long-Term Debt                                                   412.4       1.9

Other Liabilities                                                 20.9      23.0

Net Investment in Energizer                                      718.2   1,312.9
                                                              --------  --------
      Total                                                   $1,676.0  $1,833.7
                                                              ========  ========
<FN>

            See accompanying Notes to Condensed Financial Statements.
</TABLE>

<TABLE>
<CAPTION>

                              ENERGIZER HOLDINGS, INC.
                          COMBINED STATEMENT OF CASH FLOWS
                      SIX MONTHS ENDED MARCH 31, 2000 AND 1999
                                     (CONDENSED)
                          (DOLLARS IN MILLIONS - UNAUDITED)


                                                          SIX MONTHS ENDED MARCH 31,
<S>                                                                  <C>       <C>
                                                                     2000      1999
                                                                  --------  --------
CASH FLOW FROM OPERATIONS
  Net earnings (loss)                                             $ 121.6   $  (3.0)
  Net (income) loss from discontinued operations                     (1.2)     79.8
  Loss on disposition of Spanish affiliate                           15.7         -
  Non-cash items included in income                                  30.9      53.9
  Changes in assets and liabilities used in operations               15.7      36.6
  Other, net                                                         (4.3)      2.2
                                                                  --------  --------
    Cash flow from continuing operations                            178.4     169.5
    Cash flow from discontinued operations                           54.7      (1.0)
                                                                  --------  --------
      Net cash flow from operations                                 233.1     168.5
                                                                  --------  --------

CASH FLOW FROM INVESTING ACTIVITIES
  Property additions                                                (30.7)    (33.3)
  Proceeds from sale of OEM business                                 20.0         -
  Proceeds from sale of Spanish affiliate                             1.4
  Proceeds from sale of property                                      1.5       0.5
  Other, net                                                         (2.6)     (0.7)
                                                                  --------  --------
    Cash used by investing activities - continuing operations       (10.4)    (33.5)
    Cash used by investing activities - discontinued operations      (0.7)     (1.7)
                                                                  --------  --------
      Net cash used by investing activities                         (11.1)    (35.2)
                                                                  --------  --------

CASH FLOW FROM FINANCING ACTIVITIES
    Net cash proceeds from issuance of long-term debt                   -       1.0
    Principal payments on long-term debt (including current
      maturities)                                                    (1.3)    (13.1)
    Net increase in notes payable                                    (0.3)     10.0
    Net transactions with Ralston                                  (230.2)   (153.9)
                                                                  --------  --------
      Net cash used by financing activities                        (231.8)   (156.0)
                                                                  --------  --------

Effect of Exchange Rate Changes on Cash                               0.1       1.2


Net Decrease in Cash and Cash Equivalents                            (9.7)    (21.5)

Cash and Cash Equivalents, Beginning of Period                       27.8      49.1
                                                                  --------  --------
Cash and Cash Equivalents, End of Period                          $  18.1   $  27.6
                                                                  ========  ========


Non-Cash Transactions:
  Debt assigned by Ralston                                        $ 478.0   $     -
                                                                  ========  ========
<FN>

              See accompanying Notes to Condensed Financial Statements.
</TABLE>


                            ENERGIZER HOLDINGS, INC.

                     NOTES TO CONDENSED FINANCIAL STATEMENTS
                                 MARCH 31, 2000
                        (DOLLARS IN MILLIONS - UNAUDITED)


NOTE  1  - The accompanying unaudited financial statements have been prepared in
accordance  with  Article  10  of  Regulation  S-X and do not include all of the
information  and  footnotes required by generally accepted accounting principles
for  complete  financial  statements.  In  the  opinion  of  management,  all
adjustments  considered  necessary  for  a fair presentation have been included.
Operating  results for any quarter are not necessarily indicative of the results
for  any other quarter or for the full year.  These statements should be read in
conjunction  with  the  financial statements and notes thereto for Energizer for
the  year  ended  September  30,  1999.

NOTE  2  -  On  April  1, 2000, Ralston Purina Company (Ralston) distributed the
common  stock  of  its  wholly  owned  subsidiary,  Energizer  Holdings,  Inc.
(Energizer),  to  the  shareholders of Ralston's common stock through a tax-free
spin-off.  Following  the  spin-off,  Energizer  has conducted its business as a
separate  public  company.

NOTE  3  -  The  accompanying historical basis financial statements of Energizer
reflects periods during which its business was operated as a business segment of
Ralston.  As  such,  historical  earnings  per  share  data  does  not  provide
meaningful  information  about  the  results  of  operations  of  Energizer.

NOTE 4 - The current quarter and six-month results include pre-tax spin costs of
$5.5  related  to  one-time  costs  incurred  by  Energizer  as  a result of the
spin-off.  These costs include legal fees, charges related to vesting of certain
compensation  benefits,  expenses  incurred to separate certain employee benefit
plans,  etc.  Total  spin  related  costs  were  $3.3  on  an  after-tax  basis.

NOTE  5  -  The current quarter and six-month results include a non-cash loss of
$15.7  related  to  sale  of  Energizer's  Spanish  affiliate.  Capital loss tax
benefits  recognized  by  Ralston related to the Spanish sale were $24.4 and are
included  in  the  historical  basis  financial  statements.

NOTE  6  -  During the six-month period ended March 31, 1999, Energizer recorded
net  after-tax  and  pre-tax  provisions  for  restructuring  of  $6.1 and $6.0,
respectively.  The charges were primarily termination benefits associated with a
1997  alkaline  and  carbon  zinc  production  restructuring  plan  for  Europe.

During  the  six  month period ended March 31, 2000, approximately 160 employees
were  terminated  in connection with restructuring accruals established in prior
years.  Except  for  disposition  of  certain  assets  held  for  disposal,
substantially  all actions associated with the 1997 and 1999 restructuring plans
have  been  completed  as  of  March  31,  2000.  Activities  impacting  the
restructuring  reserve  during  the  six  month period ended March 31, 2000, are
presented  in  the  following  table:



<TABLE>
<CAPTION>

<S>                   <C>       <C>         <C>         <C>
                     Beginning  Provision/               Ending
                      Balance   Reversals   Activity    Balance
                      --------  ----------  ----------  --------
1995 PLAN
Other Cash Costs      $     .8  $        -  $    (0.8)  $      -
                      --------  ----------  ----------  --------
Total                       .8           -       (0.8)         -
                      --------  ----------  ----------  --------

1996 PLAN
Other Cash Costs            .8           -          -         .8
                      --------  ----------  ----------  --------
Total                       .8           -          -         .8
                      --------  ----------  ----------  --------

1997 PLAN
Termination Benefits       4.1           -       (3.3)        .8
Other Cash Costs           1.3           -          -        1.3
                      --------  ----------  ----------  --------
Total                      5.4           -       (3.3)       2.1
                      --------  ----------  ----------  --------

1998 PLAN
Termination Benefits       1.6           -       (1.0)       0.6
Other Cash Costs           2.0           -       (0.2)       1.8
                      --------  ----------  ----------  --------
Total                      3.6           -       (1.2)       2.4
                      --------  ----------  ----------  --------

1999 PLAN
Termination Benefits        .7           -       (0.7)         -
                      --------  ----------  ----------  --------
Total                       .7           -       (0.7)         -
                      --------  ----------  ----------  --------

     Grand Total      $   11.3  $        -  $    (6.0)  $    5.3
                      ========  ==========  ==========  ========
</TABLE>



NOTE  7  -  Energizer's operations are managed via four major geographic areas -
North  America  (which  includes the U.S. and Canada), Asia Pacific, Europe, and
South  and  Central America (including Mexico).  This structure is the basis for
the Company's reportable operating segment information disclosed below.  Segment
performance  is  evaluated  based  on  operating  profit,  exclusive  of general
corporate expenses, research and development expenses, restructuring charges and
amortization  of  goodwill  and  intangibles.  Financial items, such as interest
income  and  expense,  are  managed  on  a  global basis at the corporate level.

Intersegment sales are generally valued at market-based prices and represent the
difference  between  total  sales  and  external sales as presented in the table
below.  Segment  profitability  includes  profit  on  these  intersegment sales.


<TABLE>
<CAPTION>


                                       FOR THE QUARTER ENDED MARCH 31,
<S>                                <C>       <C>               <C>       <C>
                                      2000                    1999
                                     ------                  ------
                                  TOTAL   EXTERNAL       TOTAL   EXTERNAL
NET SALES                         SALES     SALES        SALES    SALES
                                  -----     -----        -----   -----
     North America               $182.8    $162.8        $218.6    $197.0
     Asia Pacific                 108.2      95.8         103.8      95.6
     Europe                        73.5      73.1          81.4      80.9
     South and Central America     32.6      28.2          35.6      32.2
                                           ------                  ------
               Total Net Sales             $359.9                  $405.7
                                           ======                  ======
</TABLE>


<TABLE>
<CAPTION>


                                      FOR THE SIX MONTHS ENDED MARCH 31,
<S>                                <C>       <C>           <C>       <C>
                                      2000                      1999
                                     ------                    ------
                                  TOTAL   EXTERNAL        TOTAL   EXTERNAL
NET SALES                         SALES     SALES         SALES    SALES
                                  -----     -----         -----    -----
     North America               $631.7   $ 583.2        $576.8   $526.9
     Asia Pacific                 246.6     214.9         222.3    201.2
     Europe                       166.0     165.1         188.3    187.2
     South and Central America     79.3      70.3          83.5     72.8
                                          -------                 ------
               Total Net Sales           $1,033.5                 $988.1
                                         ========                 ======
</TABLE>


<TABLE>
<CAPTION>


                                                FOR THE QUARTER ENDED MARCH 31,
<S>                                                         <C>      <C>
                                                              2000     1999
                                                            -------  -------
OPERATING PROFIT BEFORE UNUSUAL ITEMS AND
 AMORTIZATION
     North America                                          $ 24.8   $ 47.0
     Asia Pacific                                             22.7     22.1
     Europe                                                    1.0     (1.8)
     South and Central America                                 2.7      1.4
                                                            -------  -------
          TOTAL SEGMENT PROFITABILITY                         51.2     68.7
     General Corporate Expenses                              (12.7)    (9.6)
     Research and Development Expense                        (14.2)   (12.6)
                                                            -------  -------
          Operating Profit before Unusual Items and
              Amortization                                    24.3     46.5
     Costs related to spin-off                                (5.5)       -
     Loss on disposition of Spanish affiliate                (15.7)       -
     Restructuring Reversals                                     -       .1
     Amortization                                             (6.2)    (6.2)
     Interest and Other Financial Items                       (1.0)    (3.0)
                                                            -------  -------
          Total (Loss) Earnings from Continuing Operations
               Before Income Taxes                          $ (4.1)  $ 37.4
                                                            =======  =======
</TABLE>


<TABLE>
<CAPTION>


                                              FOR THE SIX MONTHS ENDED MARCH 31,
<S>                                                         <C>       <C>
                                                               2000     1999
                                                            --------  -------
OPERATING PROFIT BEFORE UNUSUAL ITEMS AND
 AMORTIZATION
     North America                                          $ 170.3   $147.5
     Asia Pacific                                              60.7     48.0
     Europe                                                     8.9       .3
     South and Central America                                  9.4      8.2
                                                            --------  -------
          TOTAL SEGMENT PROFITABILITY                         249.3    204.0
     General Corporate Expenses                               (18.1)   (22.4)
     Research and Development Expense                         (26.1)   (23.6)
                                                            --------  -------
          Operating Profit before Unusual Items and
              Amortization                                    205.1    158.0
     Costs related to spin-off                                 (5.5)       -
     Loss on disposition of Spanish affiliate                 (15.7)       -
     Restructuring Charges                                        -     (6.0)
     Amortization                                             (12.3)   (12.5)
     Interest and Other Financial Items                        (2.0)    (4.7)
                                                            --------  -------
          Total Earnings from Continuing Operations Before
               Income Taxes                                 $ 169.6   $134.8
                                                            ========  =======
</TABLE>


NOTE  8  -  In  1999,  the  Company  adopted  Statement  of Financial Accounting
Standards  No.  130,  "Reporting  Comprehensive  Income".  Accumulated  other
comprehensive  income is included in Net Investment in Energizer in the combined
balance  sheet.  The  components  of  total comprehensive income for the quarter
ended  March  31,  2000  and  1999  are  shown  in  the  following  table:
<TABLE>
<CAPTION>


                                                  Quarter  Ended  March  31,

<S>                                                   <C>     <C>
                                                       2000     1999
                                                      ------  -------
Net earnings (loss)                                   $16.9   $(55.0)
Other comprehensive income items:
   Foreign currency translation adjustments            (8.1)   (13.4)
   Write-off translation balance of disposed affiliate  9.7        -
                                                      ------  -------
Total comprehensive income                            $18.5   $(68.4)
                                                      ======  =======
</TABLE>


The  components of total comprehensive income for the six months ended March 31,
2000  and  1999  are  shown  in  the  following  table:

<TABLE>
<CAPTION>


                                                Six  Months  Ended  March  31,

<S>                                                   <C>      <C>
                                                        2000    1999
                                                      -------  ------
Net earnings (loss)                                   $121.6   $(3.0)
Other comprehensive income items:
   Foreign currency translation adjustments            (11.1)    2.1
   Write-off translation balance of disposed affiliate   9.7       -
                                                      -------  ------
Total comprehensive income                            $120.2   $ (.9)
                                                      =======  ======
</TABLE>



NOTE  9  - Discontinued operations consist of Energizer's worldwide rechargeable
Original  Equipment  Manufacturers'  (OEM)  business,  which was sold to Moltech
Corporation  for  approximately  $20.0 on November 1, 1999.  The OEM business is
accounted  for  as  a  discontinued  operation in Energizer's combined financial
statements.  The  current quarter and six-month results include after-tax income
of $1.2 related to the final settlement of the sale transaction.  The prior year
quarter  results  include  a net loss from discontinued operations of $2.8 and a
net loss on disposition of discontinued operations of $74.2.  The prior year six
month  results include a net loss from discontinued operations of $5.6 and a net
loss  on  disposition  of  discontinued  operations  of  $74.2.

NOTE  10  -  Immediately  prior to the spin-off, Ralston borrowed $478.0 through
several  interim  funding  facilities  and assigned all repayment obligations of
those facilities to Energizer.  Subsequent to March 31, 2000, Energizer replaced
the  interim  funding  facilities with the following: private placement notes of
$175.0  with maturities of 3 to 10 years; borrowings of $225.0 under a five-year
revolving  credit facility; a $65.0 receivable securitization program; and $13.0
of  other  borrowings. The average interest rate on the short-term and long-term
debt  is  approximately 6.7% and 7.2%, respectively. Approximately $236.0 of the
long-term debt has a variable interest rate. The interest rates on the long-term
debt  range  from  6.7%  up  to  8%.  Energizer  maintains  total committed debt
facilities  of  $834.0,  of  which  $358.0  remained  available  following  the
transactions  described  above.  Under the terms of the facilities, the ratio of
Energizer's  total indebtedness to its EBITDA cannot be greater than 3:1 and the
ratio  of  its  EBIT  to  total  interest  expense  must  exceed  3:1.

NOTE  11  -  Investments  and  Other  Assets  consist  of  the  following:

<TABLE>
<CAPTION>


                                March  31,    September  30,
<S>                                <C>           <C>
                                     2000        1999
                                   ------       ------
Goodwill                           $187.2       $205.0
Other intangible assets              90.7         94.4
Deferred charges and other assets    48.4         20.3
                                   ------       ------
                                   $326.3       $319.7
                                   ======       ======
</TABLE>


NOTE 12 - On May 8, 2000, Energizer's Board of Directors approved the grant of a
total of 6,365,000 non-qualified stock options to key employees and directors of
the  Company,  under  the  terms of the 2000 Incentive Stock Plan.  The options,
which  vest periodically over the next five years, were granted with an exercise
price  of  $17 per share, the closing price of the Energizer common stock on the
date  of grant.  In addition, the Board of Directors approved the grant of up to
625,000  restricted stock equivalents to a group of  key employees and directors
upon  their  purchase  of  an  equal  number of shares of Energizer common stock
within a specified period.  Such grants, when made, will also be pursuant to the
terms  of  the 2000 Incentive Stock Plan.  The restricted stock equivalents will
vest  three  years  from  their  respective dates of grant and will convert into
unrestricted  shares  of  Energizer  common  stock  at  that  time,  or,  at the
recipient's  election, will convert at the time of the recipient's retirement or
other  termination  of  employment.

NOTE  13 - The pro forma combined statement of earnings for the six months ended
March  31, 2000 presents the combined results of Energizer's operations assuming
the spin-off had occurred as of October 1, 1999.  Such statement of earnings has
been  prepared by adjusting the historical statement of earnings to indicate the
effect  of estimated costs and expenses and the recapitalization associated with
the  spin-off.

The  pro  forma  combined  balance sheet at March 31, 2000 presents the combined
financial  position of Energizer, assuming the distribution had occurred at that
date.  Such  balance sheet has been prepared by adjusting the historical balance
sheet  for  the  effect  of changes in assets, liabilities and capital structure
associated  with  the  distribution.

The  pro  forma  financial  statements  may not necessarily reflect the combined
results  of  operations  or  financial  position that would have existed had the
spin-off  been  effected  on  the  dates  specified  nor  are  they  necessarily
indicative  of  future  results.

<TABLE>
<CAPTION>
                                ENERGIZER HOLDINGS, INC.
                                ------------------------
                       Pro Forma Combined Statement of Earnings
                       ----------------------------------------
                            Six Months Ended March 31, 2000
                            -------------------------------
                 (In  millions  except  per  share  data  -  unaudited)
                  ------------------------------------------------------

                                                                 ADJUSTMENTS
                                                                  RELATED TO
                                                   HISTORICAL    DISTRIBUTION    PRO FORMA
                                                   ------------  --------------  -----------
<S>                                                <C>           <C>             <C>
Net Sales                                          $   1,033.5                   $1,033.5
Costs and Expenses
        Cost of products sold                            514.8                      514.8
        Selling, general and administrative              194.8          4.0 (a)     198.8
                                                             -          0.8 (b)
                                                             -         (0.8)(c)
        Advertising and promotion                        101.5                      101.5
        Research and development                          26.1                       26.1
        Costs related to spin-off                          5.5                        5.5
        Loss on disposition of Spanish affiliate          15.7                       15.7
        Provisions for restructuring                         -                          -
        Interest                                           5.5         17.1 (d)      22.6
                                                   ------------  --------------  -----------
                                                         863.9         21.1         885.0
                                                   ------------  --------------  -----------

Earnings from continuing operations
        before income taxes                              169.6        (21.1)        148.5
Income taxes                                             (49.2)       (23.4)(e)     (64.2)
                                                             -          8.4 (f)         -
                                                   ------------  --------------  ---------
Earnings from continuing operations                $     120.4   $    (36.1)     $   84.3
                                                   ============  ==============  =========


Earnings per share from continuing operations (g)                               $    0.87
                                                                                 =========
Weighted average shares of common stock (g)                                         96.7
                                                                                 =========
<FN>

(a)  To reflect the incremental costs associated with becoming a stand-alone company including
board of director costs, stock exchange registration fees, shareholder record keeping services,
external financial reporting, treasury services, tax planning and compliance, certain legal
expenses and compensation planning and administration.
(b)  To  adjust  pension  income  on  plan  assets  transferred  to  Energizer plans upon the spin-off.
(c)  To  eliminate  expense  of  certain  post  retirement  benefits  to  be  retained  by  Ralston.
(d)  To reflect the increase in interest expense associated with debt levels assigned to Energizer upon
the spin-off.  The  adjustment  reflects  an  average interest rate of 6.7% for $67.0 of incremental
notes payable and 7.2% for $411.0 of incremental long-term debt.  Approximately $303.0 of the
incremental debt has a variable interest rate.  A 1/8% variation in the interest rate would change
interest expense by  $.2.
(e)   To  reflect  taxes  as  if  Energizer  was  a  single,  stand-alone  U.S.  taxpayer.
(f)  To  reflect  tax  effect  of  the  above  pro  forma  adjustments.
(g)  The number of shares used to compute earnings per share is based on the weighted average number of
basic shares of Ralston stock outstanding during the six months ended March 31, 2000, adjusted
for the distribution of one share of Energizer stock for each three shares of Ralston stock.
</TABLE>



                            ENERGIZER HOLDINGS, INC.
                            ------------------------
                        Pro Forma Combined Balance Sheet
                        --------------------------------
                              As of March 31, 2000
                              --------------------
                    (Dollars  in  millions  -  unaudited)
                     -------------------------------------

<TABLE>
<CAPTION>

                                                            ADJUSTMENTS
                                                             RELATED TO
                                              HISTORICAL    DISTRIBUTION    PRO FORMA
                                              ------------  --------------  -----------
<S>                                           <C>                <C>             <C>
ASSETS
Current Assets
     Cash and cash equivalents                $      18.1   $               $      18.1
     Trade receivables, net                         356.7                         356.7
     Inventories                                    411.9                         411.9
     Other current assets                            93.3                          93.3
                                              ------------  --------------  -----------
        Total Current Assets                        880.0                         880.0
                                              ------------  --------------  -----------

Investments and Other Assets                        326.3          91.1 (a)       402.9
                                                                  (14.5)(b)
Net Investment in Discontinued Operations               -                            -


Property at Cost                                  1,005.9               -       1,005.9
Accumulated Depreciation                            536.2               -         536.2
                                              ------------  --------------  -----------
                                                    469.7               -         469.7
                                              ------------  --------------  -----------
        Total                                 $   1,676.0   $        76.6   $   1,752.6
                                              ============  ==============  ===========

LIABILITIES AND NET INVESTMENT
 IN ENERGIZER
Current Liabilites
        Current maturities of long-term debt          0.3               -           0.3
        Notes payable                               185.8               -         185.8
        Accounts payable                            123.8               -         123.8
        Other current liabilities                   214.6               -         214.6
                                              ------------  --------------  -----------
        Total Current Liabilities                   524.5             0.0         524.5
                                              ------------  --------------  -----------

Long-Term Debt                                      412.4           (3.5)(c)      408.9
Other Liabilities                                    20.9          111.0 (d)      131.9
Net Investment in Energizer                         718.2         (718.2)(e)          -
Shareholders Equity                                                687.3 (e)      687.3
                                              ------------  --------------  -----------
        Total                                 $   1,676.0   $        76.6   $  1,752.6
                                              ============  ==============  ==========

<FN>

(a)  To  reflect  net  pension  asset  to be included in Energizer Pension Plans following the
spin-off.
(b)  To  reflect  deferred  tax  effect  of  other  pro  forma  adjustments.
(c)  To  reflect  debt  level  immediately  following  the  spin-off.
(d) To reflect post-retirement benefit and deferred compensation liabilities immediately after
the  spin-off.
(e)  To  reflect  the  elimination  of  Ralston's  investment in Energizer and the issuance of
Energizer  stock.
</TABLE>

NOTE 14 - The following table summarizes the pro forma results of operations for
the most recent six quarters as if the spin-off had occurred at the beginning of
such  periods.  Such  statements  have been prepared by adjusting the historical
statements  for  the  effect  of costs, expenses, assets and liabilities and the
recapitalization  which might have occurred had the spin-off been effected as of
the  dates  indicated.  These pro forma financial statements may not necessarily
reflect  the  consolidated results of operations that would have existed had the
spin-off  occurred  on  the  dates  indicated.  The sum of earnings per share by
quarter, which is calculated on average shares outstanding for each quarter, may
not  equal  the  year-to-date  total,  which  is  calculated  on  average shares
outstanding  for  the  year-to-date  period.


<TABLE>
<CAPTION>


PRO  FORMA  RESULTS  OF  OPERATIONS

FISCAL 2000                                  QTR 1     QTR 2
<S>                                          <C>      <C>
                                               2000     2000
                                             -------  -------

Net sales                                    $673.6   $359.9

Cost of products sold                         322.2    192.6
Selling, general and administrative            97.6    101.2
Advertising and promotion                      67.6     33.9
Research and development                       11.9     14.2
Costs related to spin-off                         -      5.5
Loss on disposition of Spanish
affiliate                                         -     15.7
Interest Expense                               11.5     11.1
                                             -------  -------
                                              510.8    374.2
Earnings (loss) from continuing
operations before income taxes                162.8    (14.3)
Income Taxes                                  (63.6)    (0.6)
                                             -------  -------
Earnings (loss)from continuing
operations (a)                               $ 99.2   $(14.9)
                                             =======  =======

Earnings per share:

Earnings (loss) from continuing operations   $ 1.02   $(0.16)
                                             =======  =======
<FN>


(a)  Earnings  (loss) from continuing operations include the following after-tax
unusual  items:
</TABLE>


<TABLE>
<CAPTION>


<S>                                            <C>      <C>
After-tax unusual items
Costs related to spin-off                    $ -      $ (3.3)
                                             ----     -------
Loss on disposition of Spanish
affiliate                                    $ -      $(15.7)
                                             ----     -------

Earnings per share
Costs related to spin-off                    $ -       $(0.04)
                                             ----     -------
Loss on disposition of Spanish
affiliate                                    $ -       $(0.16)
                                             ----     -------
</TABLE>



<TABLE>
<CAPTION>


<S>                                   <C>      <C>      <C>      <C>      <C>
FISCAL 1999                             QTR 1    QTR 2    QTR 3    QTR 4    YEAR
                                        1999     1999     1999     1999     1999
                                      -------  -------  -------  -------  ---------

Net sales                             $582.4   $405.7   $399.2   $485.0   $1,872.3

Cost of products sold                  305.1    221.7    216.1    255.0      997.9
Selling, general and administrative    101.7    100.8     91.3    107.1      400.9
Advertising and promotion               59.0     33.3     34.5     37.5      164.3
Research and development                11.0     12.6     12.3     12.6       48.5
Restructuring provisions (reversals)     6.1     (0.1)     8.9     (7.1)       7.8
Interest expense                        12.0      9.9     11.4     11.2       44.5
                                      -------  -------  -------  -------  ---------
                                       494.9    378.2    374.5    416.3    1,663.9
Earnings from continuing operations
      before taxes                      87.5     27.5     24.7     68.7      208.4
Income taxes                           (39.2)   (12.0)   (12.9)   (27.4)     (91.5)
                                      -------  -------  -------  -------  ---------
Earnings from continuing operations
 (b)                                  $ 48.3   $ 15.5   $ 11.8   $ 41.3   $  116.9
                                      =======  =======  =======  =======  =========

Earnings per share:
Earnings from continuing operations   $ 0.49   $ 0.15   $ 0.12   $ 0.40   $   1.14
                                      =======  =======  =======  =======  =========
<FN>


(b)  Earnings  from  continuing  operations include the following after-tax unusual
items:
</TABLE>


<TABLE>
<CAPTION>


<S>                                   <C>      <C>   <C>      <C>    <C>
Restructuring reversals (provisions)  $ (6.2)  $ 0.1    $ (8.5)   $ 6.3   $  (8.3)
                                      =======   ====    =======   =====   =========
Earnings per share                    $(0.06)  $  -     $ (0.08)  $0.06   $  (0.08)
                                      =======   ====    =======   =====   =========
</TABLE>

PART  II  -  OTHER  INFORMATION
             ------------------

There  is  no  information  required to be reported under any items except those
indicated  below.

Item  6  -  Exhibits  and  Reports  on  Form  8-K

(a)  Exhibits  Required  by  Item  601  of  Regulation  S-K

     (i)  The  following  exhibits  (listed  by  numbers corresponding to the
          Exhibit Table of Item 601 in Regulation S-K) are hereby incorporated
          by reference to the Company's  Post-Effective  Amendment  No.  1  to
          Form 10, filed April 19, 2000.

          2     Agreement  and  Plan  of  Reorganization
          3(i)  Articles  of  Incorporation  of  Energizer  Holdings,  Inc.
          3(ii) By-Laws  of  Energizer  Holdings,  Inc.
          4     Rights  Agreement  between  Energizer Holdings, Inc. and
                Continental Stock Transfer & Trust Company, as Rights Agent
         10(i)  Debt  Assignment,  Assumption  and Release Agreement by and
                among Ralston Purina Co., Energizer Holdings, Inc. and Bank
                One, N.A.

        10(ii)  364-Day Credit Agreement between Ralston Purina Company and
                Bank One, N.A.

       10(iii)  5-Year Revolving Credit Agreement between Ralston Purina
                Company and Bank One, N.A.

        10(iv)  Energizer Holdings, Inc. Private Placement Note Purchase
                Agreement

         10(v)  Asset Securitization Receivable Purchase Agreement between
                Energizer Holdings, Inc., Falcon Asset Securitization
                Corporation  and  Bank  One,  N.A.

        10(vi)  Bridge Loan Agreement No. 1

       10(vii)  Bridge  Loan  Agreement  No.  2

      10(viii)  Tax  Sharing  Agreement

        10(ix)  Bridging  Agreement

         10(x)  Lease  Agreement

        10(xi)  Intellectual Property Agreement

       10(xii)  Energizer Holdings, Inc. Incentive Stock Plan

      10(xiii)  Energizer Holdings, Inc. Non-Qualified Deferred Compensation
                Plan

       10(xiv)  Form of Change of Control Employment Agreements

        10(xv)  Form of Indemnification Agreements with Executive Officers
                and  Directors

       10(xvi)  Executive  Savings  Investment  Plan

      10(xvii)  Executive  Health  Insurance  Plan

     10(xviii)  Executive  Long  Term  Disability  Plan

       10(xix)  Financial  Planning  Plan

        10(xx)  Executive Group Personal Excess Liability Insurance Plan

       10(xxi)  Executive Retiree Life Plan

      10(xxii)  Supplemental Executive Retirement Plan

     10(xxiii)  Form of Retention Letter

(ii)  The  following  exhibits  (listed  by numbers corresponding to the Exhibit
Table  of  Item  601  in  Regulation  S-K)  are  filed  with  this  report.

               27     Financial  Data  Schedule

(b)     Reports  on  Form  8-K

A  Current  Report  on  Form  8-K dated April 25, 2000, was filed to set forth a
cautionary statement for purposes of the "Safe Harbor" provisions of the Private
Securities  Litigation  Reform  Act  of  1995,  with  respect to forward-looking
statements  which  may  be  made  by  the  Company.


                                   SIGNATURES


Pursuant  to  the  requirements  of  the  Securities  Exchange  Act of 1934, the
Registrant  has  duly  caused  this  report  to  be  signed on its behalf by the
undersigned  thereunto  duly  authorized.



ENERGIZER  HOLDINGS,  INC.
- -----------------------------------------
Registrant



By: /s/ Daniel E. Corbin, Jr.
     Daniel E. Corbin, Jr.
     Executive Vice President, Finance
     and Control



Date:  May  15,  2000


<PAGE>

EXHIBIT  INDEX
- ----------------------


     EX-27     Financial  Data  Schedule  for  Second  Quarter  2000
               (provided  electronically)


<TABLE> <S> <C>

<ARTICLE> 5
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
3/31/2000 ENERGIZER HOLDINGS, INC. COMBINED BALANCE SHEET AND 3/31/2000 AND
3/31/99 COMBINED STATEMENTS OF EARNINGS AND IS QUALIFIED IN ITS ENTIRETY BY
REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<MULTIPLIER> 1,000

<S>                                             <C>                         <C>
<PERIOD-TYPE>                                  6-MOS                      6-MOS
<FISCAL-YEAR-END>                          SEP-30-2000                 SEP-30-1999

<PERIOD-END>                               MAR-31-2000                 MAR-31-1999

<CASH>                                          18,100                       0<F4>
<SECURITIES>                                         0                       0<F4>
<RECEIVABLES>                                  377,300                       0<F4>
<ALLOWANCES>                                    20,600                       0<F4>
<INVENTORY>                                    411,900                       0<F4>
<CURRENT-ASSETS>                               880,000                       0<F4>
<PP&E>                                       1,005,900                       0<F4>
<DEPRECIATION>                                 536,200                       0<F4>
<TOTAL-ASSETS>                               1,676,000                       0<F4>
<CURRENT-LIABILITIES>                          524,500                       0<F4>
<BONDS>                                        412,400                       0<F4>
                                0                       0<F4>
                                          0                       0<F4>
<COMMON>                                             0                       0<F4>
<OTHER-SE>                                     718,200<F1>                   0<F4>
<TOTAL-LIABILITY-AND-EQUITY>                 1,676,000                       0<F4>
<SALES>                                      1,033,500                 988,100
<TOTAL-REVENUES>                             1,033,500                 988,100
<CGS>                                          514,800                 526,800
<TOTAL-COSTS>                                  514,800                 526,800
<OTHER-EXPENSES>                               343,600                 323,000
<LOSS-PROVISION>                                     0<F2>                   0<F2>
<INTEREST-EXPENSE>                               5,500                   3,500
<INCOME-PRETAX>                                169,600                 134,800
<INCOME-TAX>                                    49,200                  58,000
<INCOME-CONTINUING>                            120,400                  76,800
<DISCONTINUED>                                   1,200                (79,800)<F5>
<EXTRAORDINARY>                                      0                       0
<CHANGES>                                            0                       0
<NET-INCOME>                                   121,600                 (3,000)
<EPS-BASIC>                                          0<F3>                   0<F3>
<EPS-DILUTED>                                        0<F3>                   0<F3>
<FN>
<F1>REPRESENTS RALSTON PURINA COMPANY'S NET INVESTMENT IN ENERGIZER.
<F2>LOSS-PROVISION INCLUDED IN OTHER-EXPENSES ABOVE.
<F3>EARNINGS PER SHARE ARE NOT CALCULATED ON HISTORICAL FINANCIAL INFORMATION FOR
    FORM 10Q.
<F4>INFORMATION NOT FILED AS PART OF FORM 10Q.
<F5>INCLUDES LOSS ON DISPOSITION OF DISCONTINUED OPERATONS OF $74,200.
</FN>


</TABLE>


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