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Newell Brands (NWL) Tops Q2 EPS by 14c, Updates Guidance

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July 26, 2024 7:05 AM EDT

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.


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