Newell Brands Tops Q1 Projections

Newell Brands shares rose nearly 6% in pre-market trade after the consumer products manufacturer reported Q1 adjusted EPS of $0.34, down from $0.40 in the same period a year ago and topping the estimate of $0.29 from analysts polled by CapIQ. Total revenues of $3.27 billion were up from $1.31 billion in the same period a year ago and exceeded the Street projection of $3.23 billion.

The company raised guidance for full year 2017 normalized diluted earnings per share to $3.00 to $3.20 compared with the previous guidance of $2.95 to $3.15. The new guidance straddles the Street estimate of $3.05. Newell reaffirmed full year 2017 net sales guidance of $14.52 billion to $14.72 billion, straddling the Street projection of $14.70 billion. The company also said it would pay a quarterly dividend of $0.23, up from $0.19 in the prior quarter and representing an increase of 21%.

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