earnings
confidence high
sentiment neutral
materiality 0.70
Spectrum Brands Q3 net sales up 18.1% to $1.16B; adj EBITDA up 1.8% to $167.4M
Spectrum Brands Holdings, Inc.
2021-Q3 EPS reported
$3.25
revenue$3,457,500,000
- Net income from cont ops $35.9M vs $137.6M year ago, hit by prior year gains on Energizer stock and debt extinguishment.
- Adjusted EPS from cont ops $1.57, up 15.4% vs $1.36; gross margin down 40 bps on higher freight and input costs.
- HHI segment sales +48.8% to $419M; HPC sales +9.5%, GPC +6.5%, H&G +0.7%.
- Closed Rejuvenate acquisition for ~$300M on May 28; repurchased $10.2M of shares in Q3.
- Reiterated FY2021 guidance: mid-teens net sales and adj EBITDA growth, adj free cash flow $260-280M.