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Mar 31, 2021
Newell Brands Q1 2021 Earnings Report
Newell Brands' first quarter 2021 financial results were announced, featuring significant sales growth and improved profitability.
Key Takeaways
Newell Brands reported a strong start to 2021 with a 21.3% increase in net sales and a 20.9% increase in core sales. The company's normalized operating profit doubled, and earnings per share tripled year-over-year. Due to stronger than anticipated results, the company raised its full-year outlook for net sales and normalized earnings per share.
Net sales increased by 21.3% to $2.3 billion, with core sales growing by 20.9%.
Reported operating margin was 8.4%, a significant improvement from negative 74.7% in the prior year period.
Reported diluted earnings per share were $0.21, compared to a $3.02 diluted loss per share in the prior year period.
Normalized diluted earnings per share were $0.30, up from $0.09 in the prior year period.
Revenue by Segment
Forward Guidance
The company updated its full year outlook for 2021 and initiated its second quarter 2021 guidance.
Positive Outlook
- Full year net sales outlook increased to $9.9 to $10.1 billion from $9.5 to $9.7 billion.
- Core sales growth is expected to be 5% to 7%.
- Normalized operating margin is projected to improve by 30 to 60 bps to 11.4% to 11.7%.
- Normalized EPS is expected to be $1.63 to $1.73, up from the previous range of $1.55 to $1.65.
- Operating cash flow is anticipated to be approximately $1.0 billion.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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