Newell Brands beats on profit and sales

newell-brands-beats-on-profit-and-sales

Newell Brands Inc. NWL, +0.52% reported first-quarter net income of $234 million, or 55 cents per share, up from $89 million, or 21 cents per share, last year. Adjusted EPS of 36 cents beat the FactSet consensus for 27 cents. Sales of $2.388 billion were up from $2.288 billion last year and also ahead of the FactSet consensus for $2.278 billion. Sales were impacted by category and retail store exits as well as currency exchange. Newell’s lineup includes Rubbermaid, Sharpie, Yankee Candle and Coleman products. For the second quarter, Newell is guiding for net sales of $2.52 billion to $2.72 billion, and adjusted EPS of 45 cents to 48 cents. The FactSet consensus is for sales of $2.432 billion and adjusted EPS of 50 cents. For the full year, the company’s outlook is for net sales of $9.93 billion to $10.13 billion and adjusted EPS of $1.85 to $1.93. The FactSet consensus is for sales of $10.131 billion and EPS of $1.90. Newell stock slipped 0.5% in Friday premarket trading, and has gained 5.5% for the year to date.

Source: Marketwatch

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