Newell Brands Q4 net sales down 18.5%, reports loss of $0.60 per diluted share; FY2023 guidance below prior year

NEWELL BRANDS INC.

2022-FY EPS reported $0.47 revenue$9,459,000,000

Q4 net sales $2.3B, down 18.5% YoY; core sales decline 9.4%.
Q4 diluted loss per share $0.60 vs. $0.23 EPS prior year; normalized EPS $0.16 vs. $0.42.
FY2022 net sales $9.5B (-10.7%), normalized EPS $1.57 vs. $1.93; operating cash outflow $272M.
FY2023 outlook: net sales $8.4-8.6B, normalized EPS $0.95-1.08; Q1 normalized EPS ($0.06)-($0.03).
Project Phoenix restructuring targets ~13% office position cuts, $100-130M charges, $220-250M annualized savings.

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

NEWELL BRANDS INC. updated its the quarter and year ended December 31, 2022 guidance (initiated).

Period: the quarter and year ended December 31, 2022
Guidance: initiated
Result: reported results

Exact text from the filing

On February 10, 2023 Newell Brands Inc. (the “Company”) issued a press release including additional financial information to report the Company’s earnings for the quarter and year ended December 31, 2022, which is attached to this report as Exhibit 99.1.

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Source: SEC EDGAR

accession 0000814453-23-000016

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