Newell Brands Earnings Snapshot: Analyzing Q3 2024 Results
Friday, 25 October 2024, 14:31
Newell Brands Earnings Overview
Newell Brands Inc. (NASDAQ: NWL) reported a notable decrease in sales and adjusted earnings for Q3 2024. The highlights are summarized below:
- Net Sales: Decreased 5% to $1.95 billion compared to the prior year.
- Core Sales: Declined 1.7% year-over-year.
- Net Loss: Reported a net loss of $198 million, an improvement from a loss of $218 million last year.
- Per-Share Loss: Q3 loss stood at $0.48 versus $0.53 per share from a year ago.
- Normalized Profit: Adjusted profit dropped to $69 million compared to $154 million last year.
- Normalized EBITDA: Increased to $250 million, up from $218 million in Q3 2023.
- Normalized EPS: Decreased to $0.16 from $0.37 per share last year.
- Year-to-Date Operating Cash Flow: Reported at $346 million, down from $679 million in the prior year.
- 2024 Forecast: Management anticipates net sales to fall by 6-7% for fiscal 2024.
These results suggest that Newell Brands is facing challenges in maintaining its market position, affecting both consumer confidence and investor sentiments.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.