secwatch.observer — SEC 8-K summary
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Issuer:     Spectrum Brands Holdings, Inc. (SPB)
CIK:        0000109177
Form:       8-K
Filed at:   2023-05-12T23:59:59+00:00
Accession:  0000109177-23-000017
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Spectrum Brands Q2 net loss $75M; HHI sale to ASSA ABLOY for $4.3B on track by June
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- Net sales down 9.7% to $729.2M; net loss from continuing ops $75M vs $25.1M loss last year.
- Adjusted EBITDA from continuing ops $51M, down 35.4% from $79M.
- HHI divestiture to ASSA ABLOY for $4.3B expected to close no later than end of June 2023; DOJ lawsuit resolved.
- Updates FY2023 guidance: net sales decline mid single-digits, adjusted EBITDA down low to mid single-digits.
- Inventory reduced $170M in quarter; cash $328M, debt $3.22B.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/109177/000010917723000017/0000109177-23-000017-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/109177/000010917723000017/spb-20230512.htm
  HTML page:      https://secwatch.observer/filing/0000109177-23-000017

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer