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July 30, 2021, 7:40 a.m. EDT

Newell Brands beats expectations, raises full-year sales guidance

Newell Brands Inc. (NAS:NWL) reported second quarter net income of $197 million, or 46 cents per share, up from $78 million, or 18 cents per share, last year. Adjusted EPS of 56 cents beat the FactSet consensus for 45 cents. Sales of $2.71 billion were up from $2.11 billion last year and also ahead of the FactSet consensus for $2.56 billion. Newell's portfolio includes Rubbermaid, Mr. Coffee, Elmer's and Graco baby products. For the third quarter, Newell is guiding for sales of $2.70 to $2.78 billion and adjusted EPS of 46 cents to 50 cents. The FactSet consensus is for sales of $2.596 billion and EPS of 54 cents. Newell raised its full-year sales outlook, which is now expected to be $10.10 billion to $10.35 billion, up from $9.9 billion to to $10.1 billion. Adjusted EPS is still forecast to be $1.63 to $1.73. The FactSet consensus is for sales of $10.112 billion and EPS of $1.73. Newell shares were nearly unchanged in Friday premarket trading, and have gained 28.2% for the year to date. The S&P 500 index (S&P:SPX) is up 17.7% for 2021 so far.

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