Newell Brands Inc. NWL came out with third-quarter 2017 results, wherein normalized earnings of 86 cents fell short of the Zacks Consensus Estimate of 92 cents. However, bottom line improved 10.3% year-over-year.
For 2017, management expects normalized earnings per share in a band of $2.80-$2.85 per share.
Earnings Estimate Revision: The Zacks Consensus Estimate for 2017 has been stable in 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 6.3%.
Newell Brands Inc. Price and EPS Surprise
Newell Brands Inc. Price and EPS Surprise | Newell Brands Inc. Quote
Revenues: Newell generated net sales of $3,678.2 million that dropped 7% year over year and lagged the Zacks Consensus Estimate of $3,702 million. The decline in sales can mainly be attributed to the negative effect of acquisitions and divestitures. However, core sales improved 4% driven by core sales growth at all operating segments.
Management now anticipates 2017 net sales in the band of $14.7-$14.8 billion, reflecting year-over-year growth in a band of 11.3%-11.8%. The company still expects core sales growth for 2017 to range from 1.5-2%.
Key Events: Newell Brands announced an expansion and extension of its existing share repurchase program. Under the revised program, the company will buy back up to $1 billion worth of shares through the end of 2020. This is in addition to the $256 million remaining under its current $500 million share repurchase program, which was likely to expire at the end of 2017 and is now extended up to 2020.
Zacks Rank: Currently, Newell carries a Zacks Rank #4 (Sell) 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!
Zacks’ Best Private Investment Ideas
While we are happy to share many articles like this on the website, our best recommendations and most in-depth research are not available to the public.
Starting today, for the next month, you can follow all Zacks' private buys and sells in real time. Our experts cover all kinds of trades… from value to momentum . . . from stocks under $10 to ETF and option moves . . . from stocks that corporate insiders are buying up to companies that are about to report positive earnings surprises. You can even look inside exclusive portfolios that are normally closed to new investors.
Click here for Zacks' private trades >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Be the first to comment