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Newell Brands profit misses consensus by 44.8% in Q2

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Newell Brands profit misses consensus by 44.8% in Q2

Newell Brands Inc. said its normalized net income for the second quarter came to 48 cents per share, compared with the S&P Capital IQ consensus estimate of 87 cents per share.

EPS declined year over year from 49 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $232.4 million, a gain of 6.1% from $219.1 million in the prior-year period.

The normalized profit margin increased to 5.7% from 5.7% in the year-earlier period.

Total revenue rose 5.1% year over year to $4.05 billion from $3.86 billion, and total operating expenses climbed on an annual basis to $3.53 billion from $3.38 billion.

Reported net income rose 65.5% from the prior-year period to $223.5 million, or 46 cents per share, from $135.1 million, or 30 cents per share.