May 4, 2018 / 10:56 AM / 19 days ago

BRIEF-Newell Brands Announces Q1 Earnings Per Share $0.11

May 4 (Reuters) - Newell Brands Inc:

* NEWELL BRANDS ANNOUNCES DETAILS OF TRANSFORMATION PLAN AND FIRST QUARTER 2018 RESULTS

* Q1 EARNINGS PER SHARE $0.11

* REAFFIRMS FY 2018 ADJUSTED EARNINGS PER SHARE VIEW $2.65 TO $2.85

* SEES FY 2020 SALES ABOUT $9.5 BILLION

* Q1 EARNINGS PER SHARE VIEW $0.26 — THOMSON REUTERS I/B/E/S

* EXPANDED PLAN TO GENERATE ABOUT $10 BILLION IN AFTER-TAX PROCEEDS

* EXPANDED PLAN TO GENERATE ABOUT $10 BILLION IN AFTER-TAX PROCEEDS

* REAFFIRMED 2018 FULL YEAR NET SALES AND NORMALIZED EPS GUIDANCE RANGE

* ACCELERATED TRANSFORMATION PLAN EXPANDED TO INCLUDE JOSTENS AND PURE FISHING

* DIVESTING NON-CORE BUSINESSES REPRESENTING APPROXIMATELY 35 PERCENT OF COMPANY’S NET SALES

* NEWELL BRANDS - PLANS TO APPLY ABOUT $10 BILLION IN AFTER-TAX PROCEEDS FROM DIVESTITURES, FREE CASH FLOW FROM OPERATIONS AFTER DIVIDENDS TO DEBT REPAYMENT

* “MAINTAINING COMPANY’S COMMITMENT TO ITS INVESTMENT GRADE RATING” AND TO ANNUAL DIVIDEND OF 92 CENTS PER SHARE THROUGH 2019

* FOR 2018, EXPECTS TO ABSORB A 7 TO 10 CENT NEGATIVE IMPACT TO NORMALIZED EPS WITHIN FULL YEAR NORMALIZED EPS GUIDANCE RANGE

* NEWELL BRANDS - PLANS TO APPLY AFTER-TAX PROCEEDS FROM DIVESTITURES, FREE CASH FLOW FROM OPERATIONS AFTER DIVIDENDS ALSO TO SHARE REPURCHASE

* NEW PORTFOLIO WILL COMPRISE 7 CATEGORY-BASED DIVISIONS WITH ROUGHLY 20 PERCENT OF THEIR U.S. SALES E-COMMERCE DERIVED

* ABOUT 50% OF CO’S NEW PORTFOLIO WILL BE LEGACY NEWELL RUBBERMAID BUSINESSES AND ABOUT 50% LEGACY JARDEN BUSINESSES

* QTRLY NET SALES $3,017.4 MILLION VERSUS $3,266.3 MILLION

* TRANSFORMATION PLAN WILL RESULT IN 66% REDUCTION IN NUMBER OF MANUFACTURING FACILITIES

* TRANSFORMATION PLAN WILL RESULT IN 55% REDUCTION IN DISTRIBUTION CENTERS

* ACCELERATED TRANSFORMATION PLAN WILL RESULT IN 39% REDUCTION IN NUMBER OF EMPLOYEES

* SEES 2018 FULL YEAR OPERATING CASH FLOW OF $1.15 BILLION TO $1.45 BILLION

* ACCELERATED TRANSFORMATION PLAN WILL RESULT IN EFFECTIVE ELIMINATION OF ITS UNBRANDED BUSINESSES

* NEWELL BRANDS - ALL DIVESTITURES AFTER-TAX PROCEEDS, COMBINED WITH FREE CASH FLOW AFTER DIVIDENDS, TO ENABLE CO TO REPURCHASE MORE THAN 40 PERCENT OF SHARES BY 2020

* COMPANY REITERATED ITS COMMITMENT TO CONTINUE ITS DIVIDEND AT CURRENT PER SHARE LEVELS THROUGH 2019

* NEWELL BRANDS - EXPECTS TO ABSORB 7 TO 10 CENT NEGATIVE IMPACT TO NORMALIZED EPS WITHIN ITS FY NORMALIZED EPS GUIDANCE RELATED TO TRU LIQUIDATION

* NEWELL BRANDS - FALL IN QTRLY NET SALES PRIMARILY REFLECTS BUSINESS DISRUPTION TO BABY BUSINESS FROM TOYS ‘R’ US REORGANIZATION, SUBSEQUENT LIQUIDATION

* FULL YEAR 2018 CORE SALES ARE EXPECTED TO BE FLAT TO DOWN LOW-SINGLE DIGIT PERCENT

* COMPANY EXPECTS BOTH WRITING CATEGORY AND BABY CORE SALES TO BE DOWN DOUBLE DIGITS PERCENT IN Q2

* NEWELL BRANDS SEES H1 2018 CORE SALES DOWN LOW TO MID-SINGLE DIGITS PERCENT DUE TO TOYS ‘R’ US BANKRUPTCY & SIGNIFICANT INVENTORY DESTOCKING IN WRITING CATEGORY

* Q1 REVENUE VIEW $3.03 BILLION — THOMSON REUTERS I/B/E/S

* FY2018 EARNINGS PER SHARE VIEW $2.66, REVENUE VIEW $14.48 BILLION — THOMSON REUTERS I/B/E/S

* NEWELL BRANDS - NOW EXPECTS BOTH FY 2018 NORMALIZED DILUTED EARNINGS PER SHARE & OPERATING CASH FLOW TO BE TOWARDS LOWER END OF FULL YEAR GUIDANCE RANGE Source text for Eikon: Further company coverage:

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