Consumer goods company Newell Brands Inc. (NASDAQ: NWL) announced financial results for the fourth quarter of 2023, reporting a decrease in sales.
- Fourth quarter net sales were $2.1 billion, a decline of 9.1% from the prior year period; core sales dropped 9.3%
- Reported gross margin increased to 29.9% in Q4 from 26.3% in the prior-year period
- The company reported a loss of $0.21 per share for the December quarter, compared to a loss of $0.60/ share last year
- Net loss narrowed to $86 million in the fourth quarter from 249 million in the year-ago quarter
- On a normalized basis, it was a profit of $0.22 per share, vs. $0.16 per share in the prior year period
- The company reduced its debt to $4.9 billion at the end of 2023, from $5.4 billion at the end of 2022
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