Newell Brands outperformed the Zacks categorized industry on a year-to-date basis, on the back of its splendid earnings surprise history. Notably, Newell has delivered positive earnings surprise for almost seven years now. Further, the company remains on track with its Project Renewal Program, which is likely to generate annual cost savings of nearly $700 million by 2017 or early 2018. The company has also made significant progress on its Growth Game Plan that targets accelerating growth by simplifying and strengthening its portfolio. Also, the company’s recent dividend hike and raised normalized earnings guidance for 2017 reflect confidence in future prospects. However, the company’s significant global presence exposes it to currency woes, and any further prevalence of these headwinds in the future is likely to hurt results. Nonetheless, estimates have risen lately, ahead of the company's second quarter earnings release.