Newell Brands Inc. Provides Earnings Guidance for the First Quarter Ending March 31, 2022 and Full Year Ending December 31, 2022
February 11, 2022 at 07:31 am EST
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Newell Brands Inc. provided earnings guidance for the first quarter ending March 31, 2022 and full year ending December 31, 2022. For the quarter, the company's outlook assumes net sales of $2.25 billion to $2.3 billion as core sales growth of 2% to 4% is offset by a 3% to 4% unfavorable impact from currency, exits from low-margin categories and closure of some Yankee Candle retail stores. Due to external dynamics, some retailers have accelerated their orders on seasonal merchandise into first quarter, which is reflected in this outlook. Normalized earnings per share to be in range of $0.26 to $0.28.
For full year 2022, the company is forecasting net sales of $9.93 billion to $10.13 billion as compared to $10.59 billion in 2021. This outlook assumes core sales are flat to up 2% and a more than 6% headwind from the sale of the CH&S business, exits from low-margin categories, particularly in the Outdoor & Rec and Home Appliance businesses; closure of some Yankee Candle retail stores; as well as unfavorable currency. For 2022, the company is forecasting normalized earnings per share of $1.85 to $1.93 versus $1.82 in 2021, reflecting a mid-teens normalized effective tax rate and a 1% to 2% reduction in diluted shares outstanding as the company deploy deal proceeds.
Newell Brands Inc. is a global consumer goods company. The Company operates in three segments: Home and Commercial Solutions, Learning and Development, and Outdoor and Recreation. The products offered under Home and Commercial Solutions segment includes commercial cleaning and maintenance solutions; closet and garage organization; hygiene systems and material handling solutions; household products, including kitchen appliances; food and home storage products; vacuum sealing products; gourmet cookware, bakeware and cutlery and home fragrance products. The Learning and Development segment offers products in baby gear and infant care products; writing instruments, including markers and highlighters, pens and pencils; art products; activity-based products and labeling solutions. The Outdoor and Recreation segment offers products for outdoor and outdoor-related activities. Its brands include Rubbermaid, Sharpie, Graco, Coleman, Yankee Candle, Yankee Candle, and Paper Mate, among others.