Spectrum Brands (SPB) Misses Q3 EPS by 88c
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Spectrum Brands (NYSE: SPB) reported Q3 EPS of $0.54, $0.88 worse than the analyst estimate of $1.42. Revenue for the quarter came in at $818 million versus the consensus estimate of $920.3 million.
Fiscal 2022 Earnings Framework:
- Although the business sales mix is expected to shift sequentially, in aggregate the fourth quarter EBITDA is expected to remain relatively flat to third quarter and prior year fourth quarter EBITDA. The fourth quarter top line is now expected to grow mid-single digit over prior year. This implies mid-single digit top line growth with mid-twenties EBITDA decline for the fiscal year 22.
- From a capital structure perspective, the Company is reiterating a long-term net leverage target ratio of 2.0 - 2.5 times after full deployment of HHI proceeds.
For earnings history and earnings-related data on Spectrum Brands (SPB) click here.
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