24/7 Market News Snapshot 25 October, 2024 – Newell Brands Inc. (NASDAQ:NWL)

October 25, 2024

DENVER, Colo., 25 October, 2024 (247marketnews.com) – (NASDAQ:NWL) are discussed in this article.
Newell Brands Inc. has demonstrated significant momentum recently, with its stock price escalating to $8.858, marking a remarkable 23.37% increase from the previous session’s close of $7.180. This growth reflects heightened investor confidence, as evidenced by robust trading volume of 1.41 million shares. Analysts and stakeholders are closely monitoring this upward trend, viewing it as an attractive investment opportunity amid a transformative phase for the company.

In conjunction with its stock market performance, Newell Brands has reported compelling financial results for the third quarter of 2024, showcasing steady progress under its revamped corporate strategy. President and CEO Chris Peterson announced that this quarter marks the fifth consecutive period of improvement since the implementation of the new strategy, which has successfully focused on enhancing operational capabilities and de-leveraging the balance sheet through strategic debt reduction.

The company recorded net sales of $1.9 billion for the quarter, reflecting a year-over-year decline of 4.9%. However, positive developments emerged, with gross margins increasing to 34.9% and normalized gross margin rising to 35.4%, highlighting improved productivity and cost management. Normalized EBITDA also showed a 14.7% increase, reaching $250 million.

CFO Mark Erceg emphasized the focus on margin expansion, with enhanced productivity and an operational framework contributing to improved leverage metrics. As a result, Newell Brands has raised its full-year 2024 outlook for normalized operating margin, earnings per share, and cash flow.

While the Learning & Development segment reported a 4.4% increase in net sales due to demand in the Baby product line, the Home & Commercial Solutions and Outdoor & Recreation segments encountered challenges. The company is actively implementing strategies to address these declines and position itself for sustainable growth. A forthcoming organizational alignment is expected to generate annual savings between $65 million and $90 million, reinforcing Newell Brands’ commitment to operational efficiency and profitability.

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