Newell Brands Inc. on Feb. 16 provided its net sales outlook for the fiscal year ending Dec. 31, 2018, as it released financial results for the fourth quarter and full year ended Dec. 31, 2017.
The U.S. consumer and commercial products company said it expects net sales to range between $14.4 billion and $14.8 billion and reaffirmed its previous guidance of normalized EPS to be between $2.65 and $2.85 for the full fiscal year. The company also expects to increase its market share of products in core categories and geographies during the year, with core sales growth despite ongoing retailer inventory reductions.
Reporting results for the fourth quarter ended Dec. 31, 2017, the company said its net sales dropped 9.5% year over year to $3.7 billion due to the negative impact from divestitures and net of acquisitions.
Normalized net income came in at $335 million or 68 cents per diluted share, in line with the S&P Capital IQ mean consensus estimate, compared to $390 million or 80 cents per diluted share in the prior-year period.
For the full year 2017, the company's net sales rose 11.1% year over year to $14.7 billion from $13.3 billion in 2016. Normalized income reached $1.3 billion, or $2.75 per diluted share, slightly higher than the S&P Capital IQ mean consensus estimate of $2.74, compared to $1.2 billion, or $2.89 per diluted share, in the same period the previous year.