Newell Brands Q3 net sales -19.2%, core sales -10.8%; cuts FY2022 outlook

NEWELL BRANDS INC.

2022-Q3 EPS reported $1.12 revenue$7,174,000,000

Net sales $2.3B (-19.2% YoY); diluted EPS $0.07 vs $0.44; normalized EPS $0.53 vs $0.54.
Core sales declined 10.8%; only one of seven business units grew core sales.
Reported operating margin 1.6% (incl $148M goodwill/intangibles impairment); normalized 10.2% vs 11.4%.
Issued $1B of senior notes (6.375% 2027 and 6.625% 2029) to refinance $1.1B April 2023 notes.
Updated FY2022 outlook: net sales $9.35-9.43B (prev $9.37-9.58B), norm EPS $1.56-1.61 (prev $1.56-1.70).

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 0.9

NEWELL BRANDS INC. reported third quarter 2022 results: revenue $2.3 billion, net income $31 million, EPS $0.07. Guidance reaffirmed.

Period: third quarter 2022
Revenue: $2.3 billion
Net income: $31 million
EPS: $0.07
Guidance: reaffirmed
Result: reported results

Exact text from the filing

with the macro backdrop, reducing inventory and strengthening cash flow, while continuing to invest in core capabilities." Third Quarter 2022 Executive Summary – Net sales were $2.3 billion, a 19.2 percent decline compared with the prior year period, including the year over year impact from the sale of the Connected Home & Security (CH&S) business at the end of the

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Source: SEC EDGAR

accession 0000814453-22-000123

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