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:
Most Popular
CL Earnings: Key quarterly highlights from Colgate-Palmolive’s Q2 2024 financial results
Colgate-Palmolive Company (NYSE: CL) reported its second quarter 2024 earnings results today. Net sales increased 4.9% year-over-year to $5 billion. Organic sales increased 9%. Net income attributable to Colgate-Palmolive Company was $731
Key takeaways from Visa’s Q3 2024 earnings report
Credit card behemoth Visa, Inc. (NYSE: V) this week reported mixed results for the June quarter, with earnings matching expectations and sales slightly missing the view. Both numbers grew in
Southwest Airlines (LUV): A look at the airline’s performance in Q2 2024
Shares of Southwest Airlines Co. (NYSE: LUV) were up over 6% on Thursday after the company beat earnings estimates for the second quarter of 2024. The stock has gained 4%
