Newell Brands reports Q2 normalized EPS 24c, consensus 13c

Reports Q2 revenue $2.2B, consensus $2.15B. Chris Peterson, Newell Brands president and CEO, said, “Since my appointment two months ago we have created and deployed a new corporate strategy based on a comprehensive company wide capability assessment. Building on the solid operational foundation we have already put in place, we are now focused on significantly strengthening the company’s consumer-facing capabilities while prioritizing the top 10 countries and top 25 brands, which represent about 90% of sales. Consistent with the new strategy, we are investing in consumer and customer understanding, brand building, brand communication, innovation and retail execution as part of our One Newell approach to unlock the full power of our leading consumer brands, create and leverage scale and drive operational excellence. While we have lots of work to do, we are off to a great start, which is why I remain confident in our ability to accelerate the company’s financial performance over the long term, while we continue to navigate through a challenging macro-economic backdrop in the near term.”