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Jun 30, 2024
Newell Brands Q2 2024 Earnings Report
Newell Brands' turnaround gained traction with improved sales, gross and operating margin increases, and raised full-year outlook.
Key Takeaways
Newell Brands reported a 7.8% decrease in net sales to $2.0 billion for Q2 2024, but core sales only declined by 4.2%. The company significantly improved its gross margin to 34.4% and operating margin to 8.0%. Net income increased to $45 million, with diluted earnings per share at $0.11. The company also raised its full-year 2024 outlook.
Net sales were $2.0 billion, a 7.8% decrease compared to the prior year, with core sales declining 4.2%.
Reported gross margin increased to 34.4% compared to 28.5% in the prior year.
Reported operating margin increased to 8.0% compared to 5.4% in the prior year.
Reported net income was $45 million compared to $18 million in the prior year.
Revenue by Segment
Forward Guidance
The company initiated its outlook for third quarter 2024 and raised its full year 2024 outlook.
Positive Outlook
- Net Sales: 6% to 4% decline
- Core Sales 2% decline to flat
- Normalized Operating Margin 8.3% to 8.8%
- Normalized EPS $0.14 to $0.17
- Operating cash flow increased to $450 million to $550 million from the previous range of $400 million to $500 million
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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