Categories Earnings, Industrials
Earnings: Newell Brands (NWL) reports Q1 2020 results
Suspends full year 2020 guidance
Newell Brands (NASDAQ: NWL) today announced its first quarter financial results for the period ended March 31, 2020.
GAAP Net loss was $1.27 billion, or ($3.02) per share, compared to net loss $151 million or $0.36 per share in the first quarter of 2019.
Net sales declined 8% to $1.9 billion.
COVID-19 had a significant impact on Newell’s sales in March and April, and the company had encountered a sales decline of approximately 25% in April. The company expects this trend to continue through the second quarter.
Although we delivered performance in line with or ahead of expectations in Q1, we expect Q2 to be a very challenging quarter. We are encouraged, however, by the pockets of strength we are seeing in the Food and Commercial businesses as well as recent point of sale trends in the Appliances & Cookware business in the U.S. We remain confident in our liquidity position and our ability to successfully navigate the enterprise during these difficult times.Ravi Saligram, CEO
You may also like:
Infographic: Highlights of DocuSign’s (DOCU) Q1 2024 results
DocuSign, Inc. (NASDAQ: DOCU), a leading provider of electronic signature solutions, Thursday reported first-quarter earnings. It also provided guidance for the second quarter and fiscal 2024. The company's top line
Macy’s (M): A few points to consider if you have an eye on this retailer
Shares of Macy’s, Inc. (NYSE: M) stayed in red on Thursday. The stock has dropped 22% year-to-date and 32% over the past 12 months. The retailer witnessed sales and profit
Ocean Biomedical’s scientific co-founder Dr. Jonathan Kurtis gets new patent for malaria vaccine
Ocean Biomedical, Inc. (NASDAQ: OCEA), a biopharmaceutical company focused on clinical programs in oncology, fibrosis, and infectious disease, Thursday said its scientific co-founder Dr. Jonathan Kurtis received a new patent