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Jul 04, 2021
Spectrum Brands Q3 2021 Earnings Report
Reported third quarter results with net sales increasing and adjusted EPS improving despite inflationary headwinds.
Key Takeaways
Spectrum Brands Holdings reported an 18.1% increase in net sales and a 12.0% increase in organic net sales for the third quarter of fiscal year 2021. Net income from continuing operations decreased by $101.7 million to $35.9 million. Adjusted EBITDA increased by 1.8% to $167.4 million. The company reiterates its 2021 earnings framework for net sales, adjusted EBITDA, and adjusted free cash flow and maintained strong financial flexibility with over $600 million of total liquidity.
Net sales increased 18.1% and organic net sales increased 12.0%.
Net income from continuing operations decreased $101.7 million to $35.9 million.
Adjusted EBITDA increased 1.8% to $167.4 million driven by HHI's organic growth.
The company reiterates its 2021 earnings framework for net sales, adjusted EBITDA, and adjusted free cash flow.
Revenue by Segment
Forward Guidance
Spectrum Brands continues to expect mid-teens reported net sales growth, with foreign exchange expected to have a positive impact based upon current rates. The company continues to expect adjusted EBITDA to increase mid-teens, including inflation from transportation and commodity related costs of $120 to $130 million year over year. Adjusted free cash flow expectations continue to be between $260 million and $280 million, with plans for incremental investments in inventory levels.
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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