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Newell Brands (NWL) Stock Up on Q1 Earnings & Sales Beat
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Newell Brands Inc. (NWL - Free Report) came out with first-quarter 2017 results, wherein normalized earnings of 34 cents surpassed the Zacks Consensus Estimate of 29 cents but declined 15% year-over-year.
For 2017, management now expects normalized earnings per share in a band of $3.00–$3.20 per share in comparison to previous guidance of $2.95–$3.15 per share.
Earnings Estimate Revision: The Zacks Consensus Estimate for 2017 has been stable over the past 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 6.2%.
Newell Brands Inc. Price, Consensus and EPS Surprise
Revenues: Newell generated net sales of $3,266.3 million that soared considerably by 148.4% year over year and also topped the Zacks Consensus Estimate of $3,208 million. The top-line growth was mainly backed by incorporation of Jarden’s sales, which was acquired in Apr 2016.
Management continues to anticipate 2017 net sales in the band of $14.52–$14.72 billion.
Core sales increased 2.5% in the reported quarter. The company expects core sales growth for 2017 to range from 2.5–4%.
Zacks Rank: Currently, Newell carries a Zacks Rank #3 (Hold) which is subject to change following the just released earnings results.
Stock Movement: Newell’s shares are up nearly 6% during pre-market trading hours following the earnings release.
Check back later for our full write up on Newell Brand’s earnings report!
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Newell Brands (NWL) Stock Up on Q1 Earnings & Sales Beat
Newell Brands Inc. (NWL - Free Report) came out with first-quarter 2017 results, wherein normalized earnings of 34 cents surpassed the Zacks Consensus Estimate of 29 cents but declined 15% year-over-year.
For 2017, management now expects normalized earnings per share in a band of $3.00–$3.20 per share in comparison to previous guidance of $2.95–$3.15 per share.
Earnings Estimate Revision: The Zacks Consensus Estimate for 2017 has been stable over the past 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 6.2%.
Newell Brands Inc. Price, Consensus and EPS Surprise
Newell Brands Inc. Price, Consensus and EPS Surprise | Newell Brands Inc. Quote
Revenues: Newell generated net sales of $3,266.3 million that soared considerably by 148.4% year over year and also topped the Zacks Consensus Estimate of $3,208 million. The top-line growth was mainly backed by incorporation of Jarden’s sales, which was acquired in Apr 2016.
Management continues to anticipate 2017 net sales in the band of $14.52–$14.72 billion.
Core sales increased 2.5% in the reported quarter. The company expects core sales growth for 2017 to range from 2.5–4%.
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 (Strong Buy) stocks here.
Stock Movement: Newell’s shares are up nearly 6% during pre-market trading hours following the earnings release.
Check back later for our full write up on Newell Brand’s earnings report!
The Best & Worst of Zacks
Today you are invited to download the full, up-to-the-minute list of 220 Zacks Rank #1 ""Strong Buys"" free of charge. From 1988 through 2015 this list has averaged a stellar gain of +25% per year. Plus, you may download 220 Zacks Rank #5 ""Strong Sells."" Even though this list holds many stocks that seem to be solid, it has historically performed 6X worse than the market. See these critical buys and sells free >>