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Mar 31, 2024
Newell Brands Q1 2024 Earnings Report
Newell Brands' financial performance saw sequential improvement in core sales, significant expansion in gross and operating margins, and increased operating cash flow, while affirming the full-year 2024 outlook.
Key Takeaways
Newell Brands reported a decrease in net sales to $1.7 billion, with core sales declining by 4.7%. However, the company saw improvements in gross and operating margins, and a significant increase in operating cash flow. The company affirmed its full-year 2024 outlook.
Net sales were $1.7 billion, a decrease of 8.4% compared to the prior year.
Core sales declined 4.7% compared to the prior year.
Reported operating income was $16 million, compared to an operating loss of $36 million in the prior year.
Operating cash flow increased by $109 million to $32 million compared to the prior year.
Revenue by Segment
Forward Guidance
The company initiated its outlook for the second quarter of 2024 and affirmed its full year 2024 outlook.
Positive Outlook
- Net Sales: 9% to 7% decline
- Core Sales: 6% to 4% decline
- Normalized Operating Margin: 9.1% to 9.6%
- Normalized EPS: $0.18 to $0.21
- Full year 2024 operating cash flow of $400 million to $500 million
Challenges Ahead
- Net Sales: 8% to 5% decline
- Core Sales: 6% to 3% decline
- Normalized Operating Margin: 7.8% to 8.2%
- Normalized EPS: $0.52 to $0.62
- approximately $150 million to $200 million in cash payments associated with restructuring and related initiatives
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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