Newell Brands Raises FY24 Outlook: Adj EPS $0.60-$0.65 From $0.52-$0.62 Prior Vs. $0.60 Estimate, Revenue Decline Of 7%-6% From 8%-5% Decline Prior Vs. $7.63B Estimate
Portfolio Pulse from Benzinga Newsdesk
Newell Brands has raised its full-year 2024 outlook, adjusting its expected EPS to $0.60-$0.65 from the previous $0.52-$0.62, and narrowing its revenue decline forecast to 7%-6% from 8%-5%. The company also provided its Q3 2024 outlook, expecting a 6%-4% decline in net sales and normalized EPS of $0.14-$0.17.
July 26, 2024 | 11:05 am
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Newell Brands has raised its full-year 2024 outlook, improving its EPS forecast and narrowing its expected revenue decline. This positive revision suggests better-than-expected performance, which could boost investor confidence and positively impact the stock price in the short term.
The raised EPS forecast and narrowed revenue decline indicate improved financial performance, which is likely to boost investor sentiment and positively impact Newell Brands' stock price in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100