Newell Brands Shares Surge On Strong Q2 Earnings Beat And Upgraded FY24 Outlook Despite Revenue Dip
Portfolio Pulse from Nabaparna Bhattacharya
Newell Brands Inc. (NASDAQ:NWL) shares surged due to strong Q2 earnings and an upgraded FY24 outlook, despite a revenue dip. The company reported adjusted EPS of 36 cents, beating the consensus of 21 cents. However, net sales of $2.03 billion missed the street view of $2.046 billion. The company raised its FY24 outlook, projecting adjusted EPS of $0.60-$0.65, up from $0.52-$0.62.
July 26, 2024 | 1:58 pm
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Newell Brands Inc. (NASDAQ:NWL) shares surged 27.1% due to strong Q2 earnings and an upgraded FY24 outlook. The company reported adjusted EPS of 36 cents, beating the consensus of 21 cents, despite a revenue dip.
The strong Q2 earnings beat and upgraded FY24 outlook have positively impacted investor sentiment, leading to a significant surge in NWL's stock price. Despite the revenue dip, the market has reacted favorably to the improved earnings and outlook.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100