Categories Consumer, Earnings

Earnings Summary: A snapshot of Newell Brands’ (NWL) Q2 2023 results

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

Infographic: How Spotify (SPOT) performed in Q2 2024

Spotify Technology S.A. (NYSE: SPOT) reported its second quarter 2024 earnings results today. Total revenue increased 20% year-over-year to EUR3.8 billion. Net income attributable to owners of the parent was

Philip Morris (PM) Q2 2024 Earnings: Key financials and quarterly highlights

Philip Morris International Inc. (NYSE: PM) reported its second quarter 2024 earnings results today. Net revenues increased 5.6% year-over-year to $9.5 billion. On an organic basis, revenues grew 9.6%. Net

LMT Earnings: Highlights of Lockheed Martin’s Q2 2024 financial results

Lockheed Martin Corporation (NYSE: LMT) Tuesday reported a year-over-year increase in net sales for the second quarter of 2024. The management raised its fiscal 2024 guidance. The aerospace company reported

Add Comment
Viewing Highlight