Spectrum Brands Q4 net income $53.5M, adj EBITDA $113.7M; guides FY2024 high-single-digit EBITDA growth

Spectrum Brands Holdings, Inc.

2023-FY EPS reported $45.65 revenue$2,918,800,000

Net sales $740.7M, down 1.2% YoY; organic net sales down 2.7% excluding FX.
Adjusted EPS from continuing ops $1.36 vs $0.48 YoY; net income swung from loss of $24.8M to profit $53.5M.
GPC segment sales +1.6%; H&G +7.2%; HPC -6.3% due to weaker kitchen appliance demand.
Fiscal 2024 outlook: low single-digit net sales decline, high single-digit adj EBITDA growth; ended year in net cash position.
Reduced inventory by over $300M; repaid $1.6B debt from HHI sale; targeting long-term net leverage of 2.0-2.5x.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Spectrum Brands Holdings, Inc. reported fiscal 2024 results: revenue Low Single-Digit Net Sales Decline.

Period: fiscal 2024
Revenue: Low Single-Digit Net Sales Decline
Result: guidance update

Exact text from the filing

The Company Expects to Deliver Low Single-Digit Net Sales Decline and High Single-Digits Adjusted EBITDA Growth for Fiscal 2024, Excluding the Impact of Investment Income, with Adjusted EBITDA Growth in All Business Units

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Source: SEC EDGAR

accession 0000109177-23-000047

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