Spectrum Brands Q2 net income $49.9M vs loss prior year; adjusted EBITDA up 120%

Spectrum Brands Holdings, Inc.

2024-Q2 EPS reported $2.80 revenue$1,410,700,000

Net sales $718.5M (-1.5% YoY); net income from continuing ops $49.9M vs ($75.0M) last year.
Adjusted EBITDA $112.3M, up 120.2% YoY; adjusted EBITDA margin 15.6% (+860bps).
Gross margin improved 870bps to 38.1% on lower cost inventory and favorable mix.
Repurchased 1.2M shares for $98M in Q2; new Black & Decker license through 2035.
FY2024 guidance: net sales relatively flat, adjusted EBITDA (ex-investment income) low double-digit growth.

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 0.65

Spectrum Brands Holdings, Inc. updated its fiscal second quarter ended March 31, 2024 guidance (raised).

Period: fiscal second quarter ended March 31, 2024
Guidance: raised
Result: reported results

Exact text from the filing

On May 9, 2024, the Company issued a press release (the "Earnings Press Release") discussing, among other things, its financial results for its fiscal second quarter ended March 31, 2024.

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Spectrum Brands Holdings, Inc. filing history →

Source: SEC EDGAR

accession 0000109177-24-000019

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