Newell Brands Q2 net sales $2.0B (-7.8% YoY); normalized EPS $0.36 vs $0.24; raises FY outlook

NEWELL BRANDS INC.

2024-Q2 EPS reported $0.09 revenue$3,686,000,000

Q2 normalized EPS $0.36, up from $0.24; reported net income $45M vs $18M.
Gross margin expands 590bps to 34.4%; operating margin up 260bps to 8.0%.
Outdoor & Recreation core sales down 18.2%; Home & Commercial down 4.3%; Learning & Dev up 1.5%.
FY2024 normalized EPS guidance raised to $0.60-0.65 from $0.52-0.62; op cash flow up to $450-550M.
Org realignment: expects annualized pretax savings $65-90M; $55-70M expected in 2024.

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