Consumer goods company Newell Brands Inc. (NASDAQ: NWL) Friday reported a decrease in sales and adjusted earnings for the third quarter of 2024.
- Third-quarter net sales decreased 5% to $1.95 billion from the prior year period; core sales declined 1.7%
- The company reported a net loss of $198 million for the September quarter, compared to a loss of $218 million in the prior year period
- On a per-share basis, Q3 loss was $0.48, compared to a loss of $0.53 per share in the same period last year
- On an adjusted basis, the normalized profit was $69 million in Q3, vs. $154 million last year; normalized EBITDA increased to $250 million from $218 million in Q3 2023
- Normalized earnings per share decreased to $0.16 during the three months from $0.37 per share last year
- Year-to-date operating cash flow was $346 million, compared to $679 million in the prior year period
- For fiscal 2024, the management expects net sales to drop 7-6%