Newell Brands Adds 5% After Quarterly Results Beat View

Shares of Consumer goods company Newell Brands (NWL) are rising more than 5% Friday morning after its second quarter earnings beat the consensus estimate.

Normalized net income was $101 million or $0.24 per share, compared with $232 million or $0.56 per share last year.

Analysts on average polled by Thomson-Reuters were expecting earnings of $0.13 per share.

Net income was $18 million or $0.04 per share for the second quarter, significantly lower than $199 million or $0.48 per share in the same quarter a year ago, hurt by lower sales.

Net sales were $2.2 billion, a decline of 13% from the prior year period, but beat the consensus estimate of $2.15 billion.

NWL, currently at $10.79, has traded in the range of $7.80 – $21.55 in the last 1 year.

Source: Read Full Article