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Newell Brands (NWL) Q1 Earnings & Sales Beat Estimates

Newell Brands Inc. NWL came out with solid first-quarter 2016 results, wherein normalized earnings of 40 cents a share surged 11.1% from the year-ago quarter and surpassed the Zacks Consensus Estimate of 36 cents.

For 2016, management envisions normalized earnings per share in a band of $2.75-$2.90 per share.

Earnings Estimate Revision: The Zacks Consensus Estimate for 2016 has been increasing over the last 30 days. Further, if we look at Newell’s performance in the trailing four quarters (excluding the quarter under review), the company has outperformed the Zacks Consensus Estimate by an average of 2.7%.

Revenues: Newell generated net sales of $1,314.9 million that advanced about 4% year over year and surpassed the Zacks Consensus Estimate of $1,283 million. Core sales, excluding the impact from net contributions from acquisitions and divestitures and negative currency translations, grew 5.6%. This was driven by core sales growth witnessed in all five segments of the company.

The company expects core sales growth for 2016 to range from 3%-4%.

Key Events: Newell effectively concluded its previously announced merger with Jarden Corp. in Apr 2016, thereby creating a $16 billion entity called Newell Brands Inc.

Zacks Rank: Currently, Newell carries a Zacks Rank #1 (Strong Buy) which is subject to change following the just released earnings results.

Check back later for our full write up on Newell’s earnings report!

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