Q2 2024 Newell Brands Inc Earnings Call Transcript

Jul 26, 2024 / 01:30PM GMT

Release Date Price: €5.95 (+1.16%)

Transcript 10-Q8-K

Key Points

Positve

Second-quarter results exceeded expectations across all key metrics.
Gross margin increased for the fourth consecutive quarter, driven by strong productivity.
Normalized EBITDA improved by 10% year-over-year.
EPS was significantly higher than anticipated due to better operational performance and tax benefits.
The company reduced its cash conversion cycle and net debt by about $400 million.

Negative

The outdoor and recreation segment continues to be the weakest and requires a turnaround.
Core sales were still down 4.2%, indicating ongoing challenges in the market.
Net interest expense increased due to higher interest rates.
Operating cash flow for the first six months of 2024 was down compared to the same period in 2023.
The macroeconomic environment remains challenging, particularly for consumer discretionary goods.

Operator

Good morning, and welcome to Newell Brands second-quarter 2024 earnings conference call. (Operator Instructions)

Today's conference call is being recorded. A live webcast of this call is available at ir.newellbrands.com.

I will now turn the call over to Sofya Tsinis, VP of Investor Relations. Ms. Tsinis, you may begin.

Sofya Tsinis

Newell Brands Inc - Vice President, Investor Relations

Thank you. Good morning, everyone. Welcome to Newell Brands second-quarter earnings call. On the call with me today are Chris Peterson, our President and CEO; and Mark Erceg, our CFO.

Before we begin, I'd like to inform you that during the course of today's call, we will be making forward-looking statements, which involve risks and uncertainties. Actual results and outcomes may differ materially, and we undertake no obligation to update forward-looking statements. I refer you to the cautionary language and risk factors available in our earnings release, our Form 10-K, Form 10-Q and other SEC filings available on our Investor Relations website for a

Already have an account? Log in

Get the full story

Subscribe Now

	Access to All Earning Calls and Stock Analysis
	30-Year Financial on one screen
	All-in-one Stock Screener with unlimited filters
	Customizable Stock Dashboard
	Real Time Insider Trading Transactions
	8,000+ Institutional investors’ 13F holdings
	Powerful Excel Add-in and Google sheets Add-on
	All data downloadable
	Quick customer support
	And much more...

7-Day Free Trial · Cancel Anytime

Subscription fee may be tax deductible.

Excellent

4.6 out of 5

Trustpilot

Research Tools

All-In-One Screener Stock Ideas Stock List Guru List Guru Real-Time Picks Insider List Insider Trades Economic Indicators Sector & Industry Performance DCF Calculator Calculators Discussion Board

Product

Pricing Plans Excel Add-In Google Sheets Add-on Data API Stock Comparison Table Manual of Stocks Instant Alerts Mobile App Newsletters Signup 中文

Education

Financial Glossary Tutorials FAQ Buffett Indicator Shiller P/E Yield Curve Today U.S. Inflation Rate Global Market Valuation Fed Net Liquidity Buffett Assets Allocation

Company

About GuruFocus Career Contact Us Advertise Term of Use Privacy Policy Referral Program Partner Program

Survey

We'd love to learn more about your experiences on GuruFocus.com and how we can improve!

Take Survey

Disclaimers

GuruFocus.com is not operated by a broker or a dealer. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute investment advice or recommendations. The individuals or entities selected as "gurus" may buy and sell securities before and after any particular article and report and information herein is published, with respect to the securities discussed in any article and report posted herein. Gurus may be added or dropped from the GuruFocus site at any time. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive damages. Past performance is a poor indicator of future performance. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute investment advice or recommendations. The information on this site is in no way guaranteed for completeness, accuracy or in any other way. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Stock quotes are provided by QuoteMedia, Inc. (CSI). Company fundamental data is provided by Morningstar. Analyst estimates data is sourced from both Refinitiv and Morningstar, with priority given to Refinitiv data. Data is updated daily.