Newell Brands NWL reported second-quarter earnings of 45 cents per share, which beat the analyst consensus estimate of 36 cents by 25%. This is a 45.12% decrease over earnings of 82 cents per share from the same period last year.
The company reported quarterly sales of $2.117 billion, which missed the analyst consensus estimate of $2.12 billion by 0.14%. This is a 43.23% decrease over sales of $3.729 billion the same period last year.
"The financial results we announced this morning represent another quarter of progress, with disciplined cost management and focused execution behind working capital initiatives driving better than expected margin and cash flow progression in the second quarter," said Chris Peterson, Newell Brands Interim CEO.
Newell sees third-quarter EPS of 55-60 cents versus a 54 cent estimate and sales at $2.42 billion-$2.47 billion versus a $2.23 billion estimate. The company also raised fiscal year 2019 sales guidance.
Newell shares were trading up 7.6% at $14.45 in Friday’s pre-market session. The stock has a 52-week high of $27.04 and a 52-week low of $13.04.
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