Spectrum Brands Logs Higher 3Q Revenue as Demand Stays Solid

Dow Jones
08/07
 
 

Spectrum Brands swung to a fiscal third-quarter loss, hurt by an impairment charge, but reported higher revenue as demand for its consumer products and home essentials remained solid.

The company on Friday posted a net loss of $26.8 million, or $1.16 a share, for its three months ended June 28. That compares with a profit of $19.9 million, or 80 cents a share, in last year's comparable quarter.

The recent quarter included a $104 million charge tied to the impairment of intangible assets, as well as slightly higher selling, general and administrative expenses.

Stripping out one-time items, earnings from continuing operations were $2.79 a share. Analysts polled by FactSet expected adjusted earnings from continuing operations of $1.46 a share.

Net sales climbed 7.7% to $753.3 million and topped Wall Street models for $732.2 million.

Sales across its global pet care business rose 3.3% to $263.7 million, while sales across its home and garden arm jumped 19% to $225.2 million. The company's home and personal care business reported sales of $264.4 million, up 3.6% from last year.

Chief Executive David Maura said all of the company's categories benefited from solid underlying demand, while its key brands continued to outperform the market.

For the year, Spectrum Brands continues to expect flat to low-single-digit growth in reported net sales.

 
 

應版權方要求,你需要登入查看該內容

免責聲明:投資有風險,本文並非投資建議,以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請,作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考,不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證,投資者應自行研究並在投資前尋求專業建議。

熱議股票

  1. 1
     
     
     
     
  2. 2
     
     
     
     
  3. 3
     
     
     
     
  4. 4
     
     
     
     
  5. 5
     
     
     
     
  6. 6
     
     
     
     
  7. 7
     
     
     
     
  8. 8
     
     
     
     
  9. 9
     
     
     
     
  10. 10