Newell Brands (NYSE: NWL) reported Q1 EPS of $0.34, $0.08 better than the analyst estimate of $0.26. Revenue for the quarter came in at $3 billion versus the consensus estimate of $3.03 billion.

• Reaffirmed 2018 full year outlook for normalized diluted earnings per share of $2.65 to $2.85 and operating cash flow of $1.15 billion to $1.45 billion. The company now expects both metrics to be towards the lower end of the full year guidance range.
• Full year core sales are expected to be flat to down low-single digit percent, with first half core sales down low to mid-single digits percent as a result of the TRU bankruptcy and significant inventory destocking in the Writing category related to the company’s drive to rapidly achieve revised retailer inventory targets established by new leadership and ownership in the office superstore and distributive trade channels. The company expects both Writing and Baby core sales to be down double digits percent in the second quarter.

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