Newell Brands (NWL) stock plummeted 5.05% in intraday trading on Monday, underperforming the broader market. The steep decline came after the consumer goods company reported disappointing financial results for the fourth quarter of 2024 and provided a weak outlook for the current fiscal year.
According to the relevant news articles, Newell Brands reported an 8.4% decline in net sales for the fourth quarter of 2024, falling to $1.9 billion from $2.076 billion in the same period last year. For the full year 2024, net sales dropped to $7.5 billion from $8.13 billion in 2023. Despite the revenue decline, the company managed to narrow its net loss, but its profitability remained under pressure.
The lackluster financial performance and weak guidance for 2025, with expected net sales declining between 2% to 4%, raised concerns among investors. Multiple analysts lowered their price targets on Newell Brands stock, citing the disappointing results and challenging outlook. Analysts at Citigroup, UBS, and Wells Fargo all cut their price targets for the stock, reflecting the bearish sentiment surrounding the company's prospects.
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