Newell Brands: 2Q Earnings Snapshot
HOBOKEN, N.J. (AP) _ Newell Brands Inc. (NWL) on Monday reported second-quarter earnings of $131.7 million.
The Hoboken, New Jersey-based company said it had net income of 27 cents per share. Earnings, adjusted for one-time gains and costs, came to 82 cents per share.
The results topped Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 78 cents per share.
The consumer products company posted revenue of $2.2 billion in the period, falling short of Street forecasts. Six analysts surveyed by Zacks expected $3.84 billion.
Newell Brands expects full-year earnings in the range of $2.45 to $2.65 per share, with revenue in the range of $8.7 billion to $9 billion.
Newell Brands shares have dropped 14 percent since the beginning of the year, while the Standard & Poor’s 500 index has increased 6 percent. The stock has declined 48 percent in the last 12 months.