Spectrum Brands (SPB) Tops Q1 EPS by $1.37
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Spectrum Brands (NYSE: SPB) reported Q1 EPS of $2.13, $1.37 better than the analyst estimate of $0.76. Revenue for the quarter came in at $1.15 billion versus the consensus estimate of $1.01 billion.
Fiscal 2021 Earnings Framework
Spectrum Brands now expects high single-digit reported net sales growth (previously three to five percent), with foreign exchange expected to have a slightly positive impact based upon current rates.
Fiscal 2021 adjusted EBITDA is also expected to increase high single-digits (previously mid single-digits) as transportation and commodity related inflation are expected to partially offset the leverage from the higher expected net sales. Adjusted free cash flow is expected to be between $250 million and $270 million, with strategic investments in inventory levels.
For earnings history and earnings-related data on Spectrum Brands (SPB) click here.
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