Newell Brands Inc. (NWL - Free Report) came out with second-quarter 2017 results, wherein normalized earnings of 87 cents surpassed the Zacks Consensus Estimate by a penny, and increased 11.5% year-over-year.
For 2017, management still expects normalized earnings per share in a band of $3.00–$3.20 per share.
Earnings Estimate Revision: The Zacks Consensus Estimate for 2017 has trended upward 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 7.7%.
Revenues: Newell generated net sales of $4,054.6 million that advanced 5.1% year over year and also topped the Zacks Consensus Estimate of $3,959 million. The top-line growth was backed by core sales growth; incorporation of Jarden’s sales and contributions of acquisitions (net of divestitures). Management now anticipates 2017 net sales in the band of $14.8–$15.0 billion, reflecting year-over-year growth in a band of 11.5%–13%.
Core sales increased 2.5% in the reported quarter. The company still expects core sales growth for 2017 to range from 2.5–4%.
Key Events: Newell Brands concluded the sale of Winter Sports Business in Jul 2017.
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.
Check back later for our full write up on Newell Brand’s earnings report!
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