A Strong First Quarter Boosts Newell Brands Stock

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Newell Brands

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Dreamstime

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Newell Brands reported a robust first quarter and redoubled its full-year outlook, helping to bolster the stock on a down day for the market.

Newell Brands (ticker: NWL) said Friday it earned an adjusted 36 cents a share, easily ahead of the 27 cent per-share consensus estimate. Its first-quarter revenue climbed nearly 5% year over year to $2.39 billion, also comfortably above the $2.29 billion analysts were expecting.

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Sales at every one of the company’s five segments were better than anticipated, and all home appliances also delivered above-consensus margins.

Moreover, the maker of Rubbermaid trash and storage containers reiterated its 2022 full-year forecast, as it expects to earn between $1.85 and $1.93 a share, on revenue of $9.93 billion to $10.13 billion. Consensus calls for EPS of $1.90 on revenue of $10.13.

Newell’s ability to reaffirm its guidance is certainly a positive—considering that many of its peers have reined in expectations. However, the conservative outlook and its second-quarter forecast, which came in slightly below the average analyst estimate, may have initially weighed on the shares, which were lower in premarket trading.

However, in recent trading Newell stock rose 1.8% to $23.44. The shares have climbed about 7% year to date, although they’re off about 13% in the past 12 months. The S&P 500 is 0.8% lower at recent check.

Write to Teresa Rivas at [email protected]

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Credit: www.marketwatch.com /

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