Spectrum Brands sees FY24 revenue down low single-digits, consensus $2.97B

Spectrum Brands expects low single-digit reported net sales decline in Fiscal 2024, with foreign exchange expected to have a slightly negative impact based upon current rates. Fiscal 2024 adjusted EBITDA is expected to increase by high single-digits. From a capital structure perspective, the company is targeting a long-term net leverage ratio of 2.0-2.5 times after full deployment of HHI sale proceeds.