Newell Brands Raises Profit View on $126M Tariff Refunds, Shares Surge 22%
NWL has more than doubled off its 52-week low of $3.07.
Summary
Newell Brands lifted its full-year profit outlook, now expecting normalized EPS of 73-77 cents, up from 56-60 cents, driven by $126 million in expected tariff refunds that will help offset a doubling of inflation costs to $200 million. Q2 results beat across the board: revenue rose 3% to $1.99 billion, core sales grew 2.3%, and profit hit $106 million, or 25 cents a share, well above the 17-cent consensus. The learning-and-development segment, led by Graco, gained market share, while home and commercial saw a slight decline. Shares jumped 22% premarket to $6.28. This follows earlier reports of the Q2 beat and Q3 guidance, but adds crucial detail on the tariff refunds and the magnitude of the guidance raise.
At the time of this announcement, NWL was trading at $6.29 on NASDAQ in the Trade & Services sector, with a market capitalization of approximately $2.2B. The 52-week trading range was $3.07 to $6.64. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Dow Jones Newswires.