January 25, 2018 / 2:44 PM / 4 months ago

BRIEF-Newell Brands Announces Preliminary 2017 Results And Initial 2018 Guidance

Jan 25 (Reuters) - Newell Brands Inc:

* NEWELL BRANDS ANNOUNCES ACCELERATION OF TRANSFORMATION PLAN, PRELIMINARY 2017 RESULTS AND INITIAL 2018 GUIDANCE

* SEES FY 2018 ADJUSTED EARNINGS PER SHARE ABOUT $2.65 TO $2.85

* SEES FY 2017 ADJUSTED EARNINGS PER SHARE $2.72 TO $2.76

* EXPLORING PORTFOLIO RECONFIGURATION TO SIMPLIFY OPERATIONS AND ACCELERATE DELEVERAGING

* FOCUSING NEWELL’S PORTFOLIO ON NINE CORE CONSUMER DIVISIONS

* EXPLORING STRATEGIC OPTIONS FOR INDUSTRIAL AND COMMERCIAL PRODUCT ASSETS

* EXPLORING STRATEGIC OPTIONS FOR SMALLER CONSUMER BUSINESSES

* NEWELL BRANDS - EXECUTION OF STRATEGIC OPTIONS WOULD RESULT IN 50 PERCENT REDUCTION IN GLOBAL FACTORY AND WAREHOUSE FOOTPRINT BY END OF 2019

* EXECUTION OF STRATEGIC OPTIONS WOULD RESULT IN 50 PERCENT REDUCTION IN CUSTOMER BASE BY END OF 2019

* EXECUTION OF STRATEGIC OPTIONS WOULD RESULT IN CONSOLIDATION OF 80% OF GLOBAL SALES ON TWO ERP PLATFORMS BY 2019-END

* SEES CORE SALES GROWTH OF APPROXIMATELY 0.8 PERCENT IN 2017

* ABOUT $1.0 BILLION OF OPERATING CASH FLOW GENERATED IN Q4, RESULTING IN FY OPERATING CASH FLOW OF APPROXIMATELY $930 MILLION

* “VERY DIFFICULT COMMERCIAL OUTCOME IN SECOND HALF OF 2017”

* OPERATING CASH FLOW IS EXPECTED TO BE $1.15 BILLION TO $1.45 BILLION, EXCLUDING IMPACT OF ANY POTENTIAL DIVESTITURES IN 2018

* NEWELL BRANDS - EXPECTS TO ACHIEVE MARKET SHARE GROWTH IN CORE CATEGORIES, GEOGRAPHIES IN 2018

* FY2017 EARNINGS PER SHARE VIEW $2.81 — THOMSON REUTERS I/B/E/S

* FY2018 EARNINGS PER SHARE VIEW $2.94 — THOMSON REUTERS I/B/E/S

* INTENDS TO BEGIN EVALUATION PROCESS IMMEDIATELY AND EXPECTS ANY RESULTING TRANSACTIONS TO BE COMPLETED BY END OF 2019

* WOULD EXPECT TO BE AN APPROXIMATELY $11 BILLION FOCUSED PORTFOLIO OF CONSUMER-FACING BRANDS Source text for Eikon: Further company coverage:

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below