Why Newell Brands Shares Are Slumping Today
Portfolio Pulse from Nabaparna Bhattacharya
Newell Brands Inc. (NWL) shares slumped after reporting Q4 revenues of $2.076 billion, surpassing analyst expectations but revealing a 9.1% year-over-year decline. Despite beating EPS estimates and improving margins, the company announced a restructuring plan with significant charges and projected declines in Q1 and FY24 revenues and EPS, leading to a 12% drop in share price.
February 09, 2024 | 3:45 pm
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Newell Brands Inc. shares fell 12% after reporting a revenue decline and announcing a restructuring plan, despite beating Q4 EPS and revenue estimates.
Despite Newell Brands beating Q4 earnings and revenue expectations, the announcement of a revenue decline and a significant restructuring plan with associated charges has negatively impacted investor sentiment. The projected declines in future revenues and EPS further contribute to the negative outlook, leading to a sharp decline in share price.
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