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Newell Brands (NWL) Q3 Earnings Top, Sales Lag Estimates
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Newell Brands Inc. (NWL - Free Report) came out with third-quarter 2016 results, wherein normalized earnings of 78 cents a share surged 25.8% from the year-ago quarter and surpassed the Zacks Consensus Estimate of 73 cents.
For 2016, management now expects normalized earnings per share in a band of $2.85-$2.90 per share in comparison to previous guidance of $2.75-$2.90 per share. The company also initiated 2017 guidance. Management expects normalized earnings per share in the range of $2.85-$3.05 per share for 2017.
Earnings Estimate Revision: The Zacks Consensus Estimate for 2016 has been nearly stable over the last 30 days. Further, if we look at Newell’s performance in the trailing four quarters (excluding the quarter under review), the company has outperformed the Zacks Consensus Estimate by an average of 4.9%.
Revenues: Newell generated net sales of $3,954.6 million that soared considerably by 158.5% year over year but missed the Zacks Consensus Estimate of $4,046 million. The top-line growth was majorly backed by incorporation of Jarden’s sales, which was acquired in Apr 2016, coupled with solid sales growth across various businesses like Writing, Baby and Parenting, Yankee Candle and Appliances.
Core sales increased 3% in the reported quarter. The company expect core sales growth for 2016 to range from 3.5%-4%.
Check back later for our full write up on Newell’s earnings report!
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Newell Brands (NWL) Q3 Earnings Top, Sales Lag Estimates
Newell Brands Inc. (NWL - Free Report) came out with third-quarter 2016 results, wherein normalized earnings of 78 cents a share surged 25.8% from the year-ago quarter and surpassed the Zacks Consensus Estimate of 73 cents.
For 2016, management now expects normalized earnings per share in a band of $2.85-$2.90 per share in comparison to previous guidance of $2.75-$2.90 per share. The company also initiated 2017 guidance. Management expects normalized earnings per share in the range of $2.85-$3.05 per share for 2017.
Earnings Estimate Revision: The Zacks Consensus Estimate for 2016 has been nearly stable over the last 30 days. Further, if we look at Newell’s performance in the trailing four quarters (excluding the quarter under review), the company has outperformed the Zacks Consensus Estimate by an average of 4.9%.
Revenues: Newell generated net sales of $3,954.6 million that soared considerably by 158.5% year over year but missed the Zacks Consensus Estimate of $4,046 million. The top-line growth was majorly backed by incorporation of Jarden’s sales, which was acquired in Apr 2016, coupled with solid sales growth across various businesses like Writing, Baby and Parenting, Yankee Candle and Appliances.
Core sales increased 3% in the reported quarter. The company expect core sales growth for 2016 to range from 3.5%-4%.
NEWELL BRANDS Price, Consensus and EPS Surprise
NEWELL BRANDS Price, Consensus and EPS Surprise | NEWELL BRANDS Quote
Zacks Rank: Currently, Newell carries a Zacks Rank #3 (Hold) which is subject to change following the just released earnings results. You can see the complete list of today’s Zacks #1 Rank stocks here.
Check back later for our full write up on Newell’s earnings report!
Confidential from Zacks
Beyond this Tale of the Tape, would you like to see Zacks' best recommendations that are not available to the public? Our Executive VP, Steve Reitmeister, knows when key trades are about to be triggered and which of our experts has the hottest hand. Click to see them now>>