Newell Brands (NWL) Tops Q2 EPS by 14c, Updates Guidance
Newell Brands (NASDAQ: NWL) reported Q2 EPS of $0.36, $0.14 better than the analyst estimate of $0.22. Revenue for the quarter came in at $2 billion versus the consensus estimate of $2.04 billion.
GUIDANCE:
Newell Brands sees Q3 2024 EPS of $0.14-$0.17, versus the consensus of $0.20.
Newell Brands sees FY2024 EPS of $0.60-$0.65, versus the consensus of $0.60.
Outlook for Third Quarter and Full Year 2024
The company initiated its outlook for third quarter 2024 and raised its full year 2024 outlook.
Q3 2024 Outlook | ||||||
Net Sales | 6% to 4% decline | |||||
Core Sales | 2% decline to flat | |||||
Normalized Operating Margin | 8.3% to 8.8% | |||||
Normalized EPS | $0.14 to $0.17 | |||||
| Previous Full Year 2024 Outlook | Updated Full Year 2024 Outlook | ||||
Net Sales | 8% to 5% decline | 7% to 6% decline | ||||
Core Sales | 6% to 3% decline | 4% to 3% decline | ||||
Normalized Operating Margin | 7.8% to 8.2% | 8.0% to 8.2% | ||||
Normalized EPS | $0.52 to $0.62 | $0.60 to $0.65 |
The company also increased its outlook for full year 2024 operating cash flow to $450 million to $550 million from the previous range of $400 million to $500 million. The operating cash flow outlook continues to assume approximately $150 million to $200 million in cash payments associated with restructuring and related initiatives.
For earnings history and earnings-related data on Newell Brands (NWL) click here.