Newell Brands Inc. (NASDAQ: NWL) reported lower net profit for the second quarter of 2023 when the consumer goods company’s sales declined.
- Second-quarter net sales decreased 13% annually to $2.2 billion, mainly reflecting a core sales decrease of 11.9% and the impact of unfavorable foreign exchange
- Gross margin was 28.5% in Q2 compared to 33% in the prior year period; margins were negatively impacted by fixed cost deleveraging, inflation, and higher restructuring-related charges
- Operating income, on a reported basis, declined to $120 million from $328 million in the prior year period
- The company reported net income of $18 million or $0.04 per share for Q2, compared to $199 million or $0.48 per share last year
- Normalized net income was $101 million or $0.24 per share, vs. $232 million or $0.56 per share in the second quarter of 2022
Looking for more insights on the earnings results? Click here to access the full transcripts of the latest earnings conference calls!
Most Popular
PNC Earnings: A snapshot of PNC Financial Services’ Q4 2025 results
PNC Financial Services Group, Inc. (NYSE: PNC) on Friday reported higher revenue and net income for the fourth quarter of fiscal 2025. The numbers also beat analysts' estimates. Total revenues
Earnings Preview: Intuitive Surgical (ISRG) looks poised for a strong Q4
Intuitive Surgical, Inc. (NASDAQ: ISRG) is a pioneer in robotic-assisted surgical technology, developing advanced systems that enable healthcare professionals to perform minimally invasive procedures with greater precision and efficiency. Having
What to expect when Alaska Air Group (ALK) reports Q4 2025 earnings results
Shares of Alaska Air Group (NYSE: ALK) gained 3% on Thursday. The stock has dropped 26% in the past 12 months. The airline is scheduled to publish its earnings results
