Newell Brands: 4Q Earnings Snapshot
HOBOKEN, N.J. (AP) _ Newell Brands Inc. (NWL) on Friday reported fourth-quarter earnings of $208.1 million.
The Hoboken, New Jersey-based company said it had net income of 46 cents per share. Earnings, adjusted for one-time gains and costs, were 71 cents per share.
The results beat Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 41 cents per share.
The consumer products company posted revenue of $2.34 billion in the period, falling short of Street forecasts. Seven analysts surveyed by Zacks expected $2.4 billion.
For the year, the company reported a loss of $6.92 billion, or $14.60 per share, swinging to a loss in the period. Revenue was reported as $8.63 billion.
For the current quarter ending in April, Newell Brands expects its per-share earnings to range from 4 cents to 8 cents.
The company said it expects revenue in the range of $1.66 billion to $1.7 billion for the fiscal first quarter. Analysts surveyed by Zacks had expected revenue of $1.79 billion.
Newell Brands expects full-year earnings in the range of $1.50 to $1.65 per share, with revenue ranging from $8.2 billion to $8.4 billion.
Newell Brands shares have increased 17 percent since the beginning of the year, while the Standard & Poor’s 500 index has climbed 9.5 percent. The stock has decreased 20 percent in the last 12 months.