SPB - Spectrum Brands +12% After Q2 Results - Read Why | Benzinga
Spectrum Brands Holdings, Inc. (NYSE:SPB) shares are trading higher on Thursday.
The company reported second-quarter adjusted earnings per share of $1.62, beating the street view of 62 cents.
Quarterly sales of $718.50 million beat the street view of $707.52 million.
Net sales declined by 1.5%, influenced by reduced consumer demand in home appliances and aquatics, notably in North America. Additionally, SKU rationalizations had an impact, although there was strong point-of-sale performance in controls, attributed to favorable weather trends.
Gross profit jumped 27.5% to $273.5 million, ...