REYN - Spectrum Brands Holdings: Still Attractive If You Can Handle It

2024-06-24 16:32:03 ET

Summary

• Spectrum Brands Holdings has undergone significant changes, including paying down debt and issuing new debt, to improve its bottom line.
• Recent developments include buying back senior notes and issuing exchangeable senior notes to reduce annual interest expenses and improve financial position.
• Despite recent financial performance declines, the company's EBITDA has shown growth, and management forecasts further growth in the low double digits for the current year.

Times of change can represent the opening of the new doors of opportunities for companies. But the uncertainty associated with these changes can also prove to be problematic. Very few companies over the past year or so have gone through as large a change as Spectrum Brands Holdings ( SPB ) has. As I detailed in my last article on the company in November of last year, it sold off its Hardware and Home Improvement segment for a massive $4.3 billion. For a company that has a market capitalization as of this moment of $2.60 billion, that is a massive change....

For further details see: