2024-07-26 13:57:07 ET
Newell Brands Inc. (NWL)
Q2 2024 Earnings Conference Call
July 26, 2024 09:30 AM ET
Company Participants
Sofya Tsinis - Vice President of Investor Relations
Chris Peterson - President and CEO
Mark Erceg - Chief Financial Officer
Conference Call Participants
Peter Grom - UBS
William Chappell - Truist Securities
Andrea Teixeira - JPMorgan
Lauren Lieberman - Barclays
Brian McNamara - Canaccord Genuity
Chris Carey - Wells Fargo Securities
Filippo Falorni - Citi
Olivia Tong - Raymond James
Presentation
Operator
Good morning, and welcome to Newell Brands Second Quarter 2024 Earnings Conference Call. At this time, all participants are in a listen-only mode. After a brief discussion by management, we will open up the call for questions. [Operator Instructions]. Today's conference call is being recorded. A live webcast of this call is available at ir.newellbrands.com.
I will now turn the call over to Sofya Tsinis, VP of Investor Relations. Ms. Tsinis, you may begin.
Sofya Tsinis
Thank you. Good morning, everyone. Welcome to Newell Brands second quarter earnings call. On the call with me today are Chris Peterson, our President and CEO; and Mark Erceg, our CFO.
Before we begin, I'd like to inform you that during the course of today's call, we will be making forward-looking statements, which involve risks and uncertainties. Actual results and outcomes may differ materially, and we undertake no obligation to update forward-looking statements. I refer you to the cautionary language and risk factors available in our earnings release, our Form 10-K, Form 10-Q and other SEC filings available in our Investor Relations website for a further discussion of the factors affecting forward-looking statements.
Please also recognize that today's remarks will refer to certain non-GAAP financial measures, including those we refer to as normalized measures. We believe these non-GAAP measures are useful to investors, although they should not be considered superior to the measures presented in accordance with GAAP. Explanations of these non-GAAP measures are available and available reconciliations between GAAP and non-GAAP measures can be found in today's earnings release and tables that were furnished to the SEC. Thank you.
And now I'll turn the call over to Chris.
Chris Peterson
Thank you, Sofya. Good morning, everyone, and welcome to our second quarter call. Second quarter results came in at the high end or ahead of plan across all key metrics. Core sales performance continued to improve sequentially. Gross margin increased versus last year for the fourth consecutive quarter driven primarily by outstanding productivity results. Normalized operating margin came in well above plan despite higher A&P investments. Normalized EBITDA improved 10% versus a year ago....
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Newell Brands Inc. (NWL) Q2 2024 Earnings Call Transcript