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Newell Brands profit misses consensus by 18.3% in Q1

Newell Brands Inc. said its first-quarter normalized net income was 28 cents per share, compared with the S&P Capital IQ consensus estimate of 34 cents per share.

EPS rose 16.4% year over year from 24 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $76.0 million, a gain of 11.9% from $67.9 million in the year-earlier period.

The normalized profit margin declined to 5.3% from 5.6% in the year-earlier period.

Total revenue increased on an annual basis to $1.26 billion from $1.21 billion, and total operating expenses rose year over year to $1.12 billion from $1.09 billion.

Reported net income increased 12.1% year over year to $57.3 million, or 21 cents per share, from $51.1 million, or 18 cents per share.