Spectrum Brands Maintains FY23 Earnings Framework And Expects Net Sales To Decline Mid Single-Digits And, Excluding Investment Income, Adjusted EBITDA To Be Down Low To Mid Single-digits
Portfolio Pulse from Benzinga Newsdesk
Spectrum Brands has maintained its FY23 earnings framework but expects net sales to decline by mid single-digits. Excluding investment income, the company anticipates its adjusted EBITDA to be down low to mid single-digits.
August 11, 2023 | 10:33 am
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Spectrum Brands expects a decline in net sales and adjusted EBITDA for FY23, which could negatively impact its stock price in the short term.
Spectrum Brands' announcement of expected decline in net sales and adjusted EBITDA for FY23 indicates potential financial challenges. This could lead to a decrease in investor confidence and a potential drop in the company's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100