2023-07-28 07:12:34 ET
- Newell Brands press release ( NASDAQ: NWL ): Q2 Non-GAAP EPS of $0.24 beats by $0.10 .
- Revenue of $2.2B (-13.0% Y/Y) beats by $50M .
- Core sales declined 11.9 percent compared with the prior year period.
- Normalized operating margin was 9.1 percent compared with 14.0 percent in the prior year period.
- Year-to-date operating cash flow was $277 million compared with outflow of $450 million in the prior year period.
- The company updated its full year 2023 outlook for net sales and normalized earnings per share to $8.2 billion to $8.34 billion vs. $8.45B consensus and $0.80 to $0.90 vs. $0.94 consensus, respectively. The company's outlook for operating cash flow remains unchanged.
- Q3 2023 Outlook: Net Sales of $2.11 to $2.16 billion vs. $2.21B consensus; Core Sales of 7% to 5% decline; Normalized Operating Margin of 8.5% to 9.4%; Normalized EPS of $0.20 to $0.24 vs. $0.45 consensus.
For further details see:
Newell Brands beats Q2 top and bottom line estimates; initiates Q3 and updates FY23 outlook