NWL - Newell Brands Is Down 50% From Its 52-Week High. Time to Buy?
2023-04-27 09:53:00 ET
If there's one thing investors can take away from Newell Brands ' (NASDAQ: NWL) 2022 business performance, it's that the second half of the year was awful. Unfortunately, the maker of such well-known brands as Rubbermaid and Sunbeam is projecting that the hard times will continue into 2023 -- which helps explain why the stock has fallen around 50% from its 52-week highs. Is this a chance to buy or should investors tread with caution?
Surprisingly, 2022 started out fairly well for Newell. Core sales rose 4% in the first half with operating margin expanding 40 basis points. And then, in the second half, sales plunged 10.1% with operating margin contracting 370 basis points. Those numbers are like night and day, and almost shocking to see. For the full year, the company's GAAP earnings tallied up to $0.47 per share versus $1.45 in 2021.
Image source: Getty Images.
For further details see:
Newell Brands Is Down 50% From Its 52-Week High. Time to Buy?