Newell Brands Q1 net sales down 24% to $1.8B, normalized EPS -$0.06, FY at low end

NEWELL BRANDS INC.

2023-Q1 EPS reported -$0.25 revenue$1,805,000,000

Net sales $1.8B (-24.4% YoY); core sales -18%; reported diluted loss $0.25; normalized diluted loss $0.06.
All segments declined: Home & Commercial core sales -18.8%, Learning & Dev -10.8%, Outdoor & Rec -27.4%.
Project Phoenix: $36M restructuring charges in Q1; expects $100-130M total; $18M savings in Q1.
Full year 2023 reaffirmed: net sales $8.4-8.6B, normalized EPS $0.95-1.08, but now expects low end.
Operating cash outflow improved to -$77M from -$272M YoY; inventory down ~$150M.

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. updated its first quarter 2023 guidance (reaffirmed).

Period: first quarter 2023
Guidance: reaffirmed
Result: reported results

Exact text from the filing

On April 28, 2023 Newell Brands Inc. (the “Company”) issued a press release including additional financial information to report the Company’s earnings for the quarter ended March 31, 2023, which is attached to this report as Exhibit 99.1.

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Source: SEC EDGAR

accession 0000814453-23-000066

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