Spectrum Brands (SPB) Misses Q2 EPS by 1c
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Spectrum Brands Holdings Reports Fiscal 2022 Second Quarter Results
May 6, 2022 6:30 AM EDTNet Sales Increased 6.2% and Organic Net Sales Increased 2.0% Realized a Net Loss from Continuing Operations of $25.1 Million and Adjusted EBITDA declined to $79.0 Million, Attributable to Supply Chain Disruptions, Input Cost Inflation and Higher Restructuring Costs As Anticipated, Margins Contracted Year over Year as Inflationary Costs were Higher than Related Price Increases but Also Improved Sequentially as Incremental Pricing was Realized Most Pricing Actions Implemented to Offset the Majority of Currently Projected Inflationary Increases of $310-$330 Million Updating 2022 Earnings Framework to Mid-to-High teens Net Sales Growth and Mid Single-Digit Adjusted... More
