NYSE$SPB
Spectrum Brands Holdings Inc. · Q1 2024 earnings
Q1 2024 earnings · · Investor relations
Briefing
Spectrum Brands reported first quarter fiscal 2024 results.
Spectrum Brands Holdings reported a 3.0% decrease in net sales, driven by lower consumer demand in North American Small Kitchen Appliances and SKU rationalizations, offset by favorable foreign currency and positive pricing adjustments. Net income from continuing operations was $17.5 million, and Adjusted EBITDA improved by $44.5 million to $84.3 million. The company repurchased 3.3 million shares in Q1 for $243 million and maintains its fiscal 2024 earnings framework.
- Net sales decreased 3.0% due to lower consumer demand and SKU rationalizations, offset by favorable foreign exchange and pricing.
- Net income from continuing operations improved by $57.5 million to $17.5 million.
- Adjusted EBITDA increased by $44.5 million to $84.3 million.
- The company repurchased 3.3 million shares for $243 million in Q1.
Headline financials
Revenue & EPS history
Spectrum Brands · Revenue · Quarterly
$692M
Revenue by segment
Spectrum Brands · $741M total across 3 segments · Q4 2023
- Home & Personal Care$323M—43.6%
- Global Pet Care$292M—39.5%
- Home & Garden$125M—16.9%
Forward guidance
Spectrum Brands continues to expect reported net sales to decline by low single-digits in Fiscal 2024. Fiscal 2024 Adjusted EBITDA, excluding investment income, is expected to increase by high single-digits. The Company continues to target a long-term net leverage ratio of 2.0 - 2.5 times after full deployment of HHI sale proceeds.
Tailwinds
- Adjusted EBITDA, excluding investment income, is expected to increase by high single-digits.
Headwinds
- Reported net sales are expected to decline by low single-digits in Fiscal 2024.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2024
+0.8%
Avg return
Earnings day
+1.1%
Avg return
5 days after
+2.1%
Avg return
30 days after
63%
40 / 64 earnings
Positive
+18.1%
Q4 2019
Best reaction
-26.0%
Q2 2018
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q2 2026 | -7.8% | -5.3% | -4.2% | |
| Q1 2026 | +10.2% | +8.9% | +11.8% | |
| Q4 2025 | +10.0% | +2.0% | +15.2% | |
| Q2 2025 | +3.8% | +8.4% | -9.7% | |
| Q1 2025 | -7.7% | -7.7% | -9.2% | |
| Q4 2024 | -3.9% | -5.3% | -3.6% | |
| Q3 2024 | +7.4% | +9.1% | +12.6% | |
| Q2 2024 | +12.2% | +11.8% | +6.9% | |
| Q1 2024 | +7.4% | +6.2% | +4.4% | |
| Q4 2023 | -14.0% | -14.6% | +3.3% | |
| Q3 2023 | +4.7% | +2.7% | +8.8% | |
| Q2 2023 | +2.7% | +0.7% | +3.4% | |
| Q1 2023 | +1.2% | +2.7% | -7.9% | |
| Q4 2022 | -2.7% | +0.3% | +16.7% | |
| Q3 2022 | +1.2% | -3.0% | -12.9% | |
| Q2 2022 | +7.2% | +4.0% | +4.6% | |
| Q1 2022 | -0.8% | +3.3% | -0.4% | |
| Q4 2021 | +11.4% | +12.4% | +3.8% | |
| Q3 2021 | -1.9% | -1.9% | -5.3% | |
| Q2 2021 | +3.7% | -1.6% | -5.8% | |
| Q1 2021 | +3.2% | +1.7% | +0.3% | |
| Q4 2020 | +2.3% | +2.7% | +9.9% | |
| Q3 2020 | +8.6% | +6.7% | +13.0% | |
| Q2 2020 | -2.4% | -0.7% | +10.3% | |
| Q1 2020 | -0.6% | -4.3% | -12.7% | |
| Q4 2019 | +18.1% | +21.3% | +20.3% | |
| Q3 2019 | +9.0% | +6.4% | +19.6% | |
| Q2 2019 | +4.8% | -0.0% | -7.4% | |
| Q1 2019 | -18.4% | -14.4% | -3.3% | |
| Q4 2018 | -17.0% | -13.4% | -26.8% | |
| Q3 2018 | +13.7% | +13.7% | +18.4% | |
| Q2 2018 | -26.0% | -21.9% | -15.1% | |
| Q1 2018 | -3.9% | -7.4% | -9.8% | |
| Q4 2017 | +12.8% | +16.7% | +15.8% | |
| Q3 2017 | -3.5% | -3.6% | -9.3% | |
| Q2 2017 | -9.8% | -8.9% | -2.7% | |
| Q1 2017 | +6.7% | +4.5% | +14.0% | |
| Q4 2016 | -1.0% | +3.8% | +1.3% | |
| Q3 2016 | +7.0% | +7.3% | +15.4% | |
| Q2 2016 | +2.0% | — | — | |
| Q1 2016 | +0.9% | — | — | |
| Q4 2015 | +3.6% | — | — | |
| Q3 2015 | -2.9% | — | — | |
| Q2 2015 | +1.0% | — | — | |
| Q1 2015 | +3.8% | — | — | |
| Q4 2014 | -3.1% | — | — | |
| Q3 2014 | +0.2% | — | — | |
| Q2 2014 | -0.6% | — | — | |
| Q1 2014 | +5.1% | — | — | |
| Q4 2013 | +4.0% | — | — | |
| Q3 2013 | +3.7% | — | — | |
| Q2 2013 | -1.6% | — | — | |
| Q1 2013 | +0.1% | — | — | |
| Q4 2011 | -3.4% | — | — | |
| Q4 2012 | -10.8% | — | — | |
| Q3 2012 | +0.0% | — | — | |
| Q2 2012 | +1.0% | — | — | |
| Q1 2011 | +0.6% | — | — | |
| Q1 2012 | +2.0% | — | — | |
| Q2 2011 | +0.7% | — | — | |
| Q4 2010 | +0.3% | — | — | |
| Q3 2011 | +0.3% | — | — | |
| Q3 2010 | +1.6% | — | — | |
| Q2 2010 | -4.2% | — | — |
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