— Newell Brands (NASDAQ: NWL) reported its third-quarter 2019 normalized earnings of $0.73 per share versus $0.56 per share expected.
— Net sales fell by 4% to $2.5 billion versus $2.44 billion expected. This is largely due to the unfavorable impact of foreign exchange and a 2.5% decline in core sales, which increased only at four of the seven operating divisions.
— Looking ahead into the full year 2019, the company increased the outlook for normalized EPS to the range of $1.63 to $1.68 from the previous range of $1.50 to $1.65.
— For the full year, net sales outlook is raised to the range of $9.6-9.7 billion from the prior range of $9.1-9.3 billion.
— Operating cash flow guidance for the full year is lifted to the range of $700 million to $850 million from the prior range of $600 million to $800 million.
— For the fourth quarter, the company expects normalized EPS of $0.35 to $0.40 and net sales in the range of $2.5-2.6 billion.
— The company announced its decision to end its divestiture program and retain the Mapa/Spontex and Quickie businesses, which were included in discontinued operations through Q3 of 2019.
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