Newell Brands Reports Q3 Earnings

ATLANTA – Newell Brands (NASDAQ:NWL) reported third quarter earnings meeting analyst expectations and raised its full-year outlook, resulting in a 4.46% rise in after-hours trading.

The consumer goods company posted adjusted earnings per share (EPS) of $0.16, in line with Wall Street estimates. Revenue was $1.95 billion, slightly below the consensus forecast of $1.96 billion, yet showing a smaller year-over-year decline compared to previous quarters.

Newell Brands indicated core sales, excluding foreign exchange impacts and divestitures, fell 1.7% in Q3, an improvement from the 3.5% decline seen in the first half of the year.

CEO Chris Peterson stated, "During the third quarter, year-over-year sales performance improved sequentially; we drove continued gross and operating margin improvement while purposefully increasing our level of A&P investment."

The company has raised its full-year 2024 earnings guidance to an adjusted EPS of $0.63 to $0.66, up from $0.60 to $0.65 previously. Newell also increased its operating cash flow forecast to $500-$600 million, from $450-$550 million.

For Q4, Newell projects adjusted EPS of $0.11 to $0.14 on a net sales decline of 7% to 4%.

Despite macroeconomic uncertainties, Peterson expressed confidence, stating the company's turnaround efforts are "laying a solid foundation for the future." Newell's gross margin expanded 460 basis points year-over-year to 34.9% in Q3.

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