Newell Brands Q4 net sales down 9.1% to $2.1B; FY cash flow $930M; FY2024 outlook: normalized EPS $0.52-$0.62

NEWELL BRANDS INC.

2023-FY EPS reported -$0.94 revenue$8,133,000,000

Q4 net sales $2.1B, decline 9.1% YoY; core sales down 9.3%; normalized gross margin improved to 32.3% from 26.6%.
Q4 normalized diluted EPS $0.22 vs $0.16 prior year; reported diluted loss per share $0.21 vs $0.60 loss.
Full year operating cash flow surged $1.2B to $930M; debt reduced to $4.9B from $5.4B.
Full year net sales $8.1B, decline 14%; net loss $388M ($0.94 loss) vs prior year net income $197M.
Initial FY2024 outlook: net sales decline 8-5%, normalized EPS $0.52-$0.62; restructuring charges $75-90M.

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. reported Full Year 2023 results: net income operating cash flow increased by $1.2 billion to $930 million. Guidance initiated.

Period: Full Year 2023
Net income: operating cash flow increased by $1.2 billion to $930 million
Guidance: initiated
Result: reported results

Exact text from the filing

Full year operating cash flow increased by $1.2 billion to $930 million compared with outflow of $272 million in the prior year.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

NEWELL BRANDS INC. reported full year 2024 results: EPS $0.52 to $0.62. Guidance initiated.

Period: full year 2024
EPS: $0.52 to $0.62
Guidance: initiated
Result: guidance update

Exact text from the filing

The company initiated its full year 2024 outlook for net sales decline of 8 percent to 5 percent and normalized earnings per share of $0.52 to $0.62.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

NEWELL BRANDS INC. reported Fourth Quarter 2023 results: revenue $2.1 billion, net income $86 million, or $0.21 diluted loss per share, EPS $0.22 normalized diluted earnings per share. Guidance initiated.

Period: Fourth Quarter 2023
Revenue: $2.1 billion
Net income: $86 million, or $0.21 diluted loss per share
EPS: $0.22 normalized diluted earnings per share
Guidance: initiated
Result: reported results

Exact text from the filing

Fourth quarter net sales were $2.1 billion, a decline of 9.1 percent compared with the prior year period.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

NEWELL BRANDS INC. updated its the quarter and year ended December 31, 2023 guidance (initiated).

Period: the quarter and year ended December 31, 2023
Guidance: initiated
Result: reported results

Exact text from the filing

On February 9, 2024 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, 2023, which is attached to this report as Exhibit 99.1.

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Source: SEC EDGAR

accession 0000814453-24-000013

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