From Investing.com: 2024-04-26 07:27:09

Newell Brands (NASDAQ:NWL) shares soared 6.63% after surpassing analyst expectations in their first quarter 2024 results. The company reported an adjusted EPS of $0.00, higher than the consensus estimate of -$0.07, with revenue of $1.65 billion beating expectations. Newell credited improved operational and financial priorities for the strong quarter, with operating cash flow also showing significant growth from the previous year.

Despite a net sales decline of 8.4% compared to the same period last year, Newell Brands’ strategic initiatives are proving successful. The company saw increased gross and operating margins, with gross margin rising to 30.5% from 26.7% and operating margin improving to 1.0% from a negative 2.0%. The company’s focus on innovation and brand building is expected to sustain performance.

Looking ahead, Newell Brands has provided an outlook for the second quarter of 2024 and reaffirmed its full-year outlook. For Q2, the company expects net sales and core sales decline between 7% and 9%, with a projected normalized operating margin between 9.1% and 9.6%. Full-year expectations include a net sales decline between 5% and 8%, with an anticipated normalized operating margin between 7.8% and 8.2%. Operating cash flow is forecasted between $400 million and $500 million for the year.



Read more at Investing.com: Newell Brands soars 6.6% on earnings, revenue beat By Investing.com