Newell Brands Inc. · Q2 2022 earnings

Briefing

Newell Brands' Q2 2022 performance was marked by a net sales decline of 6.5%, while core sales grew by 1.7%, and both operating profit and EPS exceeded expectations. The company updated its full year 2022 outlook.

Newell Brands reported a mixed Q2 2022, with net sales declining by 6.5% to $2.5 billion, but core sales growing by 1.7%. The company's operating profit and EPS were ahead of expectations, and it updated its full year 2022 outlook, maintaining top and bottom line outlook on a constant currency basis.

• Net sales decreased by 6.5% to $2.5 billion, impacted by the sale of the Connected Home & Security (CH&S) business.
• Core sales increased by 1.7% compared to the prior year period.
• Reported operating margin was 12.5%, compared to 11.3% in the prior year period.
• Normalized diluted earnings per share were $0.57, compared to $0.56 in the prior year period.

Headline financials

Revenue & EPS history

The company initiated its outlook for third quarter 2022 and updated its full year 2022 outlook. The update in the full year outlook reflects the significant strengthening of the U.S. dollar in recent months and is maintaining its full year 2022 outlook on a constant currency basis.