- Newell Brands (NWL -5.5%) shares dropped today after the company posted adjusted EPS of $0.56, beats by $0.11, but the company failed to raise guidance because of upcoming inflation and freight headwinds.
- "Our teams have rallied to address short-term challenges surrounding extraordinary inflationary and supply chain pressures," said CEO Ravi Saligram.
- Company adjusts FY 21 guidance: Core sales net growth outlook increases to 7% to 10% from 5% to 7% and normalized operating margin outlook decreases to ~11.1% from 11.4% to 11.7%, resulting in the same forecast for FY EPS of $1.63 to $1.73. (Consensus is $1.73.)
- Q3 21 EPS of $0.46 to $0.50 is projected to be lower than that achieved in the current quarter, and the company is projected to have similar results in the back half of 2021 as the first half.
- Read about stocks that saw gains or losses after announcing earnings today here.