By Nicholas G. Miller
Spectrum Brands reported lower first-quarter sales, weighed down by its garden and personal care divisions.
The company posted net income of $28.4 million, or $1.21 a share, up from $23.5 million, or 84 cents a share, the year prior.
Adjusted earnings from continuing operations were $1.40 a share.
Net sales fell 3.3% to $677 million. Analysts polled by FactSet had expected $674.2 million.
Pet care sales rose 8.3% to $281.6 million, while home and garden sales fell 20% to $73.9 million and home and personal care sales dropped 7.6% to $321.5 million.
The company guided for fiscal 2026 net sales to be flat to up in the low single digits.
Spectrum said it was seeking to accelerate growth through acquisitions. "We continue to believe our strong balance sheet, positive cash flow, and low leverage are a competitive advantage in an evolving M&A landscape, and that we are uniquely positioned to act as the M&A partner of choice for high-quality, synergistic assets in our sector," said Chief Executive David Maura.
Write to Nicholas G. Miller at nicholas.miller@wsj.com
(END) Dow Jones Newswires
February 05, 2026 06:57 ET (11:57 GMT)
Copyright (c) 2026 Dow Jones & Company, Inc.