Spectrum Brands closes $4.3B HHI sale, Q3 adj EBITDA up 23% to $98.5M

Spectrum Brands Holdings, Inc.

2023-Q3 EPS reported $43.81 revenue$2,178,100,000

Completed sale of HHI for $4.3B cash; net proceeds $3.8B after tax and fees.
Ended Q3 with net cash: $2.9B cash vs $2.1B debt; repaid $1.55B debt, entered $500M ASR.
Net sales $735.5M, down 10.1% YoY; organic sales down 9.7%.
Net loss from continuing ops $172.2M vs prior year income $3.0M; adjusted EPS $0.75 vs $0.54.
Guidance: FY23 net sales decline mid single-digits; adj EBITDA excl investment income down low to mid single-digits.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.89

Spectrum Brands Holdings, Inc. updated its fiscal 2023 third quarter ended July 2, 2023 guidance (reaffirmed).

Period: fiscal 2023 third quarter ended July 2, 2023
Guidance: reaffirmed
Result: reported results

Exact text from the filing

Spectrum Brands Holdings Reports Fiscal 2023 Third Quarter Results

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Spectrum Brands Holdings, Inc. filing history →

Source: SEC EDGAR

accession 0000109177-23-000037

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