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
CVX Earnings: Chevron reports lower revenue and profit for Q1 2024
Energy exploration company Chevron Corporation (NYSE: CVX) announced first-quarter 2024 financial results, reporting a decline in net profit and revenues. Net income attributable to Chevron Corporation was $5.50 billion or
ABBV Earnings: AbbVie reports lower adj. profit for Q1 2024; revenue edges up
Specialty biopharmaceutical company AbbVie, Inc. (NYSE: ABBV) Friday announced first-quarter 2024 financial results, reporting a decline in adjusted earnings and a modest rise in revenues. The company reported worldwide net
CL Earnings: Key quarterly highlights from Colgate-Palmolive’s Q1 2024 financial results
Colgate-Palmolive Company (NYSE: CL) reported first quarter 2024 earnings results today. Net sales increased 6.2% year-over-year to $5.06 billion. Organic sales increased 9.8%. Net income attributable to Colgate-Palmolive Company was
