Newell Brands Q1 net loss narrows to $9M; margins expand; affirms FY2024 outlook

NEWELL BRANDS INC.

2024-Q1 EPS reported -$0.02 revenue$1,653,000,000

Net sales $1.7B, down 8.4% YoY; core sales down 4.7% (sequential improvement).
Reported gross margin 30.5% (up 380bps); normalized operating margin 4.6% (up 220bps).
Normalized diluted EPS $0.00 vs -$0.06; operating cash flow $32M vs -$77M.
Outdoor & Recreation segment weak: sales -25.6% YoY, core sales decline 20.3%.
FY2024 outlook affirmed: net sales decline 8%-5%, normalized EPS $0.52-$0.62.

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 first quarter 2024 results: revenue $1.7 billion, net income $9 million, EPS $0.02. Guidance reaffirmed.

Period: first quarter 2024
Revenue: $1.7 billion
Net income: $9 million
EPS: $0.02
Guidance: reaffirmed
Result: reported results

Exact text from the filing

due to the seasonality of the business. With a stronger than anticipated start to the year we remain confident in our full year outlook." Executive Summary – Net sales were $1.7 billion, a decline of 8.4 percent compared with the prior year period. Core sales declined 4.7 percent compared with the prior year period. – Reported gross margin increased to 30.5

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Source: SEC EDGAR

accession 0000814453-24-000053

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