earnings
confidence high
sentiment positive
materiality 0.80
Newell Q3: Normalized EPS $0.16, gross margin 34.9% (+460bps), raises FY 2024 outlook
NEWELL BRANDS INC.
2024-Q3 EPS reported
-$0.39
revenue$5,633,000,000
- Revenue $1.9B, down 4.9% YoY; core sales down 1.7%.
- Normalized gross margin 35.4% vs 30.7% YoY; fifth consecutive quarter of expansion.
- Normalized EBITDA $250M vs $218M YoY; normalized net income $69M vs $154M.
- Raised full-year 2024 guidance for normalized operating margin, normalized EPS, and operating cash flow.
- Changed normalization practice: no longer excludes inventory write-downs and accelerated depreciation from restructuring.