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Jun 30, 2024
Spectrum Brands Q3 2024 Earnings Report
Spectrum Brands reported strong Q3 2024 results, driven by favorable weather conditions and improved retailer inventory health.
Key Takeaways
Spectrum Brands Holdings reported a 6.0% increase in net sales, driven by favorable weather conditions and improved retailer inventory in the Home & Garden business, along with continued strength in e-commerce. Net income from continuing operations was $19.1 million, and Adjusted EBITDA was $106.3 million. The company updated its fiscal 2024 earnings framework and now expects adjusted EBITDA to grow approximately 20%, excluding investment income.
Net sales increased by 6.0% due to favorable weather and improved inventory.
Net income from continuing operations increased by $191.3 million.
Adjusted EBITDA improved by $7.8 million, reaching $106.3 million.
E-commerce sales grew by over 20% and represented over 21% of quarterly sales.
Revenue by Segment
Forward Guidance
Spectrum Brands expects net sales to be relatively flat compared to fiscal 2023. Adjusted EBITDA, excluding investment income, is now expected to increase by approximately 20%.
Positive Outlook
- Expect net sales to be relatively flat to Fiscal 2023.
- Adjusted EBITDA, excluding investment income, is now expected to increase by approximately 20%.
- Target a long-term net leverage ratio of 2.0 - 2.5 times.
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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