secwatch.observer — SEC 8-K summary
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Issuer:     NEWELL BRANDS INC. (NWL)
CIK:        0000814453
Form:       8-K
Filed at:   2023-04-28T23:59:59+00:00
Accession:  0000814453-23-000066
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/814453/000081445323000066/0000814453-23-000066-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/814453/000081445323000066/nwl-20230428.htm
  HTML page:      https://secwatch.observer/filing/0000814453-23-000066

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer