Spectrum Brands Q3 net sales +6%, net income swings to $19.1M; guides FY24 Adj. EBITDA growth ~20%

Spectrum Brands Holdings, Inc.

2024-Q3 EPS reported $3.09 revenue$2,190,200,000

Net sales $779.4M (+6% YoY); net income from continuing ops $19.1M vs. $(172.2)M loss a year ago.
Adj. EBITDA $106.3M (incl. $12.7M investment income; ex-investment income $93.6M, +7.8% YoY).
Gross margin expanded 310bps to 38.9%; all three segments reported sales growth led by H&G +13.1%.
Repaid $1.174B senior unsecured bonds; issued $350M exchangeable bond at 3.375%; new $500M buyback authorized.
FY24 guidance: net sales relatively flat; Adj. EBITDA ex-investment income expected to grow ~20%.

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