Why Rubbermaid Maker Newell Brands' Shares Are Falling Today
Portfolio Pulse from Shivani Kumaresan
Newell Brands Inc (NASDAQ:NWL) reported a Q3 FY23 sales decline of 9.1% YoY to $2.05 billion, missing the analyst consensus estimate of $2.12 billion. Adjusted EPS of $0.39 beat the consensus estimate of $0.23. The company reported an operating loss of $159 million. Newell Brands also cut its FY23 revenue and EPS outlook. Following the announcement, NWL shares traded lower by 3.18%.
October 27, 2023 | 3:23 pm
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Newell Brands reported lower than expected Q3 FY23 sales and an operating loss, leading to a decrease in its share price. The company also cut its FY23 revenue and EPS outlook.
Newell Brands reported lower than expected sales for Q3 FY23 and an operating loss, which are negative indicators for the company's financial health. This led to a decrease in its share price. The company also cut its FY23 revenue and EPS outlook, which could further negatively impact investor sentiment and the stock price.
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