— Newell Brands (NASDAQ: NWL) reported its fourth-quarter 2019 normalized earnings of $0.42 per share versus $0.39 per share expected.
— Net sales decreased by 3.1% to $2.6 billion versus $2.58 billion expected. This reflected a 1.5% decline in core sales and the unfavorable impact of foreign exchange. Core sales increased at four of eight business units.
— The Learning & Development segment sales declined by 0.7% as core sales growth of 0.9% was offset by the headwind from foreign exchange.
— The Food & Commercial segment sales declined by 0.3% due to headwind from foreign exchange and core sales decline from Commercial.
— The Home & Outdoor Living segment sales dropped by 5% due to core sales decline of 2.8%, the impact of unfavorable foreign exchange and the exit of 75 underperforming Yankee Candle retail stores during 2019.
— The Appliances & Cookware segment sales fell by 6% due to the impact of unfavorable foreign exchange and a core sales decline of 4.6%.
— For the first quarter of 2020, the company expects net sales in the range of $1.9-1.95 billion and normalized earnings of $0.05-0.08 per share. The consensus estimates EPS of $0.13 on revenue of $2.02 billion.
— For the full year 2020, Newell sees net sales in the range of $9.4-9.55 billion and normalized earnings of $1.46-1.56 per share. The consensus estimates EPS of $1.55 on revenue of $9.66 billion.
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