Newell Brands: 2Q Earnings Snapshot
HOBOKEN, N.J. (AP) _ Newell Brands Inc. (NWL) on Friday reported second-quarter profit of $89.8 million.
The Hoboken, New Jersey-based company said it had net income of 21 cents per share. Earnings, adjusted for one-time gains and costs, were 45 cents per share.
The results surpassed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 36 cents per share.
The consumer products company posted revenue of $2.12 billion in the period, which matched Street forecasts.
For the current quarter ending in October, Newell Brands expects its per-share earnings to range from 55 cents to 60 cents.
The company said it expects revenue in the range of $2.42 billion to $2.47 billion for the fiscal third quarter.
Newell Brands expects full-year earnings in the range of $1.50 to $1.65 per share, with revenue ranging from $9.1 billion to $9.3 billion.
Newell Brands shares have declined 28% since the beginning of the year, while the Standard & Poor’s 500 index has increased 18%. The stock has dropped 49% in the last 12 months.